mimo is a decentralized cryptocurrency exchange (DEX) that was founded in 2021. This is the first DEX on the IoTeX network. The Mimo crypto exchange claims to perform transactions in under five seconds while also only charging less than a penny per transaction. It is also why the mimo volume of trades shows quite good numbers. Since mimo is an AMM-based exchange, it does not require an order book, which means trades can be performed at lightning speeds.
The mimo decentralized cryptocurrency exchange does not require users to go through the KYC process. This is because it is a permissionless platform that keeps everyone’s identity private, as is expected from a decentralized space. The platform has not disclosed the countries which can access its services. mimo also has a mobile application, thus, it is compatible with both iOS and Android mobile phones, as well as desktop computers.
Markets
The mimo cryptocurrency exchange supports peer-to-peer trading of XRC-20 assets. The platform also supports cross-chain trading through ioTube. This is a bridge connecting the Ethereum network to the IoTex network and, thus, allowing the trading of ERC-20 tokens. The platform also plans to launch the mimo swap, which will allow users to quickly swap assets between Ethereum and IoTx chains.
The mimo crypto exchange made significant improvements to the protocol in the V2 phase. In mimo v1, users could swap any XRC-20 asset for any other XRC-20 through IoTx. In mimo v2, any XRC-20 asset can be swapped directly with any other XRC-20 asset, including stablecoins. mimo v2 also supports cross-chain trading, which is made possible through the ioTube bridge.
mimo exchange fees include a flat 0.3% fee. 100% of the mimo crypto fees go to the liquidity pool, which is shared among all liquidity providers. Though users also need to pay a small IOTX as a gas fee for the network. However, it is much less than the ETH gas fee at the scale of 1/10000.
Other Services
Liquidity provision is an important part of the exchange and it is a means of passive income generation for liquidity providers. A liquidity provider is someone who deposits IOTX and XRC-20 tokens into the pair’s liquidity pool reserves in return for pool tokens. In order to motivate users to become liquidity providers, mimo incentivizes them by rewarding them with a reduction in transaction fees on the platform. This is also how the Mimo crypto prices are able to remain among the most accurate in the market. The high liquidity between trading pairs has also resulted in the mimo trading volume increasing.
About the Company
The mimo cryptocurrency exchange was founded in 2021. This platform supports peer-to-peer trading of ERC-20 and XRC-20 assets. It also supports cross-chain trading through ioTube. Johannes Berger is the CEO of the platform. The team also consists of Henry Ameseder who is the COO, Dennis Daume who is the CTO, and Lorenz Schimik who is the CPO. All of these individuals have a background in blockchain and software development.
The exchange has been able to steer clear of any scandals since it was established. It is also consistently bringing new solutions into the platform.
