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In this month's governance recap, we're sharing new updates about Parallel. Discover new opportunities with the Midas Pool involving PAR-jEUR LP as collateral. Check out the approved rETH collateral parameters on Ethereum. Learn about the introduction of paUSD, a an over-collateralized stablecoin pegged to USD backed by collateral tokens. Lastly, take a look at the Balancer PAR-jEUR LP's attractive APR and why it's gaining attention.
Exciting news for users of the PAR-jEUR @Balancer LP: it will soon be possible to use it as collateral on the Parallel Pool, thanks to @MidasCapitalxyz. This development offers new opportunities for DeFi investors, who will continue to earn $BAL incentives on their collateral. For more information on the Parallel Pool and the upcoming changes, visit the following link.
https://twitter.com/MidasCapitalxyz/status/1646181462453161984
The proposal to set rETH collateral parameters on Ethereum has been approved, featuring a 130% liquidation ratio and a 135% minimum collateral ratio. These parameters ensure a balance between user and protocol interests while minimizing risks and potential smart contract issues.
https://twitter.com/ParallelMoney/status/1645433198292115456
The approved proposal aims to introduce paUSD, an over-collateralized stablecoin pegged to USD, to complement PAR, the EURO pegged stablecoin issued by Parallel Protocol.
The introduction of paUSD will coincide with the launch of the KUMA protocol, allowing for new user outreach and creating synergies between Parallel Protocol and KUMA Protocol.
The first tokens as collateral backing paUSD were also approved by the DAO.
For simplicity and efficiency, it suggested using the same collaterals as PAR (except xSUSHI, DAI, and FRAX) and wUSK, which have demonstrated strength, decentralization, and liquidity. These collateral choices are supported by recent Mimo Labs studies to ensure minimal risk to the protocol.
The PAR-jEUR pool on Balancer offers an attractive annual percentage rate (APR) of 13.2%, drawing the attention of users seeking favorable returns. With a total value locked (TVL) of 766k, the pool presents an excellent opportunity for users to deposit and benefit from the competitive APR.
Since last month, there are many transactions with all these new collateral, let's dive in:
Transactions covered
DAO signer compensation has been sent
Next Transactions to be covered
DAO signer compensation for the month of May
Be sure to visit Mimo’s Snapshot profile to not miss the latest proposals.
You can also participate in the discussion on the Governance Forum or on Discord, and if you have any questions or suggestions, feel free to chat with the community on Telegram.
Don't forget to also follow the latest information on the Mimo DAO Twitter account.
In this month's governance recap, we're sharing new updates about Parallel. Discover new opportunities with the Midas Pool involving PAR-jEUR LP as collateral. Check out the approved rETH collateral parameters on Ethereum. Learn about the introduction of paUSD, a an over-collateralized stablecoin pegged to USD backed by collateral tokens. Lastly, take a look at the Balancer PAR-jEUR LP's attractive APR and why it's gaining attention.
Exciting news for users of the PAR-jEUR @Balancer LP: it will soon be possible to use it as collateral on the Parallel Pool, thanks to @MidasCapitalxyz. This development offers new opportunities for DeFi investors, who will continue to earn $BAL incentives on their collateral. For more information on the Parallel Pool and the upcoming changes, visit the following link.
https://twitter.com/MidasCapitalxyz/status/1646181462453161984
The proposal to set rETH collateral parameters on Ethereum has been approved, featuring a 130% liquidation ratio and a 135% minimum collateral ratio. These parameters ensure a balance between user and protocol interests while minimizing risks and potential smart contract issues.
https://twitter.com/ParallelMoney/status/1645433198292115456
The approved proposal aims to introduce paUSD, an over-collateralized stablecoin pegged to USD, to complement PAR, the EURO pegged stablecoin issued by Parallel Protocol.
The introduction of paUSD will coincide with the launch of the KUMA protocol, allowing for new user outreach and creating synergies between Parallel Protocol and KUMA Protocol.
The first tokens as collateral backing paUSD were also approved by the DAO.
For simplicity and efficiency, it suggested using the same collaterals as PAR (except xSUSHI, DAI, and FRAX) and wUSK, which have demonstrated strength, decentralization, and liquidity. These collateral choices are supported by recent Mimo Labs studies to ensure minimal risk to the protocol.
The PAR-jEUR pool on Balancer offers an attractive annual percentage rate (APR) of 13.2%, drawing the attention of users seeking favorable returns. With a total value locked (TVL) of 766k, the pool presents an excellent opportunity for users to deposit and benefit from the competitive APR.
Since last month, there are many transactions with all these new collateral, let's dive in:
Transactions covered
DAO signer compensation has been sent
Next Transactions to be covered
DAO signer compensation for the month of May
Be sure to visit Mimo’s Snapshot profile to not miss the latest proposals.
You can also participate in the discussion on the Governance Forum or on Discord, and if you have any questions or suggestions, feel free to chat with the community on Telegram.
Don't forget to also follow the latest information on the Mimo DAO Twitter account.
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