mimo V3 Details

Background

Since its launch in September 2020, mimo has served IoTeX users diligently, evolving into a top-tier DEX and continuously iterating its product features to meet evolving market demands.

June 2021 - mimo V2 launched, incorporating innovative features and enhanced performance while adopting new methods for managing liquidity pools.

April 2023 - mimo launched its NFT marketplace, providing IoTeX users with a seamless and secure platform for NFT transactions.

May 2023 - In collaboration with the ioPay team, mimo integrated its swap functionality to enhance the experience for IoTeX's mobile users.

At the core of mimo's ethos lies an unwavering commitment to innovation. While garnering industry recognition, mimo recognizes the burgeoning user base and their evolving needs for IoTeX. Hence, the decision to introduce a significant and innovative upgrade to optimize performance and user experience.

Why mimo V3?

mimo V3 represents a significant upgrade to the protocol, enabling more efficient capital usage through concentrated liquidity and flexible fee tiers. In this latest update, mimo will further solidify its position as a leading DEX on IoTeX, enhancing user experience, data capabilities, and support for the DePIN project and assets.

Key Features

Concentrated Liquidity

• Liquidity providers can allocate capital to specific price ranges
• Increased capital efficiency compared to V2 (up to 4000x)
• Users can precisely control the price range for their capital allocation
• Requires active management

Flexible Fee Tiers

• 0.01%, 0.05%, 0.3%, and 1% fee options
• Fees adapt to different volatility levels
• Fee tier settings allow users to earn rewards based on their risk tolerance
• Optimized for various token pairs

Minimalist UI Design

Departing from cluttered interface elements, mimo V3 adopts a minimalist design philosophy, offering users a refreshing and clean interface for a better trading experience.

Enhanced Sending Feature

mimo V3 enables users to directly send assets to wallet addresses, facilitating more convenient transaction operations.

Improved Performance

With optimized transaction execution paths and increased speeds, mimo V3 elevates transaction speeds to unprecedented levels, fostering faster and more efficient trading.

Comprehensive Token and Liquidity Pool Information

Users gain detailed insights into tokens and liquidity pools, empowering them to make informed decisions and optimize their trading strategies.

Optimized DePIN Liquidity Hub

A crucial tool provided for the DePIN ecosystem by IoTeX, the DePIN Liquidity Hub's UI has been comprehensively updated in V3 for swift access to pool data and earnings information, enhancing user intuitiveness.

RPC Network Selection

Traders can freely select and switch between faster RPC nodes, ensuring consistently smooth and responsive trading experiences regardless of network conditions.

Advanced Features

• Non-fungible liquidity positions (NFTs)
• Range orders
• Enhanced price oracle
• Universal Router - A unified routing system that efficiently finds the best trading path across all mimo versions (V1, V2, V3) and other integrated DEXs, ensuring users get optimal prices for their trades
• Best Trade Option - Intelligent routing that automatically selects the most efficient trading route, considering factors like price impact, liquidity depth, and gas fees to maximize user value

What's the difference between V2 and V3?

Feature	mimo V2	mimo V3
Liquidity Model	Uniform distribution	Concentrated liquidity
Capital Efficiency	Standard	Up to 4000x
Fee Tiers	Fixed 0.3%	0.01%, 0.05%, 0.3%, 1%
LP Tokens	Fungible (ERC20)	Non-fungible (NFT)
Management	Passive	Active
UI Design	Standard	Minimalist
Performance	Standard	Optimized execution paths
Complexity	Simple	Advanced

V2 and V3 Coexistence

mimo V3 will operate alongside mimo V2. However, liquidity on mimo V2 is separate from that on mimo V3. Over time, it's anticipated that much of the liquidity from mimo V2 will be migrated to mimo V3 to benefit from the new V3 features.

Both versions will continue to be supported, allowing users to choose the version that best suits their needs and risk tolerance.

Who should use mimo V3?

Advanced liquidity providers

• Understand price ranges and market behavior
• Willing to actively manage positions
• Want to maximize capital efficiency

Users seeking higher efficiency

• Want to maximize returns on capital
• Comfortable with higher complexity
• Seek better fee optimization

Institutional traders

• Require precise price control
• Need advanced order types
• Demand superior execution speeds

DePIN ecosystem participants

• Need access to optimized DePIN Liquidity Hub
• Require detailed pool and earnings information
• Want enhanced user intuitiveness

Who should stay on V2?

Passive LPs

• Prefer "set and forget" approach
• Don't want to monitor positions
• Want predictable outcomes

New users

• Learning DeFi concepts
• Prefer simpler interface
• Want to minimize complexity while learning

Risk-averse users

• Want predictable outcomes
• Minimize impermanent loss risk
• Prefer standard liquidity distribution

Key risks in V3

Liquidity out of range

• If price moves outside your range, you stop earning fees
• Requires active monitoring and rebalancing
• Capital becomes inactive until range is adjusted

Active management required

• Positions need regular adjustment
• Time commitment for optimization
• Requires understanding of market dynamics

Complexity

• More parameters to understand
• Steeper learning curve
• May be overwhelming for new users

Impermanent loss

• Can be higher than V2 in volatile markets
• Requires careful range selection
• Risk concentration in specific price ranges

Vision

Since its inception, mimo has been at the forefront of decentralized trading, pioneering innovative solutions to challenge the status quo. With the V3 upgrade, we once again raise the bar, delivering a seamless and feature-rich experience to meet the evolving needs of traders, arbitrageurs, and liquidity providers.

As we push the boundaries of what's possible, our long-term vision remains steadfast - to create an ecosystem comprised of #DePIN products and services, built upon mimo's automated liquidity protocol. By tokenizing and trading IoT data sets, devices, and asset-backed derivatives, mimo aims to unlock trillions of dollars in the DePIN market, pioneering unprecedented business models in decentralized finance.