Wednesday, February 1, 2023
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

by firstcryptonews
January 16, 2023
in Press Release
Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

Vaduz, Liechtenstein. Decentralized Finance Innovator Mimo is launching “KUMA Protocol”: the first DeFi protocol issuing tokens backed by regulated NFTs, themselves backed by sovereign bonds. This launch comes as the FMA (Financial Market Authority Liechtenstein) has approved Mimo for providing blockchain-related services since January 2022.

KUMA tokens, built as a smart contract compatible with most blockchains, are designed to provide holders with a reliable source of passive income through the accrual of interest on their holdings.

KUMA Tokens are NFTs representing bonds that KUMA Generator (a decentralized product owned by KUMA DAO and governed by the MIMO tokenholders) can accept as a backing to issue KUMA Interest-Bearing Tokens, a form of synthetic stablecoins that automatically accrue interest. The balance of these tokens grows in users’ wallets without any action required, matching the interest rate paid by the bond backing them, minus commission. Apart from the interest, the tokens behave like regular stablecoins, allowing them to be integrated freely into the broader crypto ecosystem, like DeFi, GameFi, and NFTs platforms.

The launch of this protocol also has the potential to revolutionize the way bondholders receive interest. Traditional bonds typically pay out interest semi-annually, annually, or even when reaching maturation. However, because KUMA Interest-Bearing Tokens use smart contracts, interest can be paid out to holders regularly, every 4 hours by default, providing a more consistent income stream for investors while not involving any claim process.

In the background, Mimo Capital AG handles the bonds and offers simple redemption to the users. Moreover, a smart contract managed by the KUMA DAO provides infrastructure for its community to swap or roll the NFT bonds over, ensuring smooth operation when a bond reaches its maturity date or the issuing authority publishes an updated rate.

To date, a few other efforts of bond tokenization have started. However, Mimo has the advantage of being the first regulated in the European Economic Area (EEA), providing tokens allowing its users to earn interest while benefiting from the safety of their favorite custody solution and the peace of mind coming with a fully regulated product.

Furthermore, KUMA DAO’s approach naturally provides fractionalized access to the benefits of bonds, lowering the entry barrier to investment and opening the door to 24/7 settlement, trading, and global liquidity. Example applications include savings accounts, protocol treasuries, and individual wallets.

Following the tokenization of sovereign bonds, Mimo will leverage KUMA to provide other assets, such as corporate debt and funds.

So far, all of the Mimo partners, including Polygon, Fantom, Swissborg, SingularityDAO and Akt.io have indicated their intention to use KUMA.

“We are thrilled to offer our users a new way to earn passive income through tokenized bonds,” said Claude Eguienta, Founder and CEO of Mimo Capital. “With this innovative mechanism and backed by a diverse range of real-world assets, we believe that interest-bearing tokens are poised to become a leading tool in the Decentralized Finance space.”

To learn more about Mimo and the KUMA Protocol, visit https://mimo.capital & https://kuma.bond

About Mimo

Mimo is a leading blockchain company that built a multichain DeFi protocol providing a Decentralized & Multichain Euro Stablecoin and developing Blockchain Powered Financial Products. With a focus on user-friendliness and accessibility, Mimo is committed to bringing the benefits of decentralized finance to a broader audience, including business and retail investors.

MEDIA CONTACT:

Mimo Capital
Name: Yacine Farouk, CMO
Email:  [email protected]
Website: www.mimo.capital
Country: Liechtenstein
City: Vaduz

Related Posts

Pop Up World (PUW) Launches NFT Collection – Zero To Superhero

Pop Up World (PUW) Launches NFT Collection – Zero To Superhero

by firstcryptonews
January 31, 2023
0

Pop Up World is a digital platform that aims to help entrepreneurs and start-ups "reach for the stars". Founded by...

QI Blockchain Ecosystem: The Fastest Growing Ecosystem in the World

QI Blockchain Ecosystem: The Fastest Growing Ecosystem in the World

by firstcryptonews
January 30, 2023
0

The last decade witnessed the tremendous rise of the world of blockchain, with several industries employing it for enhanced security...

A Newly Created DAO Aims at Building a Time Machine

A Newly Created DAO Aims at Building a Time Machine

by firstcryptonews
January 30, 2023
0

The DAO’s core team intends to raise funds to enable a Thai professor to realize his invention Quite recently, in...

ModelVerse, an NFT Collection that Celebrates Female Beauty

ModelVerse, an NFT Collection that Celebrates Female Beauty

by firstcryptonews
January 29, 2023
0

NFTs or Non-Fungible Tokens, a popular form of digital art, thanks to Blockchain technology, have swept the space like crazy....

Synergy Integrates Social Media and E-commerce to Create a Platform that will Transform the Space for Good

Synergy Integrates Social Media and E-commerce to Create a Platform that will Transform the Space for Good

by firstcryptonews
January 27, 2023
0

Blockchain has found a lot of applications in the last few years, with several industries relying on it to bring...

Bobcoin: Bob Eco launches its 2nd generation African Electric Motorcycle

Bobcoin: Bob Eco launches its 2nd generation African Electric Motorcycle

by firstcryptonews
January 20, 2023
0

Hong Kong – Tech company Bob eco launched its second-generation Model X electric motorcycle. With the new changes to the...

Next Post
Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

Recommended

Arowana Released a New NFT Item, the Musical ‘Jack the Ripper’ Props NFT, in Auction

Arowana Released a New NFT Item, the Musical ‘Jack the Ripper’ Props NFT, in Auction

11 months ago
Next Earth

Virtual Real Estate Up For Grabs With the Launch of Next Earth

2 years ago
arowana

Arowana Cryptocurrency Project Continues to Develop NFT Marketplace

1 year ago
German stylist to supply customized digital identities to consumers through virtual experiments – The next unicorn?

German stylist to supply customized digital identities to consumers through virtual experiments – The next unicorn?

11 months ago
Bullish For Bitcoin: U.S. Federal Reserve Makes Emergency Rate Cut

Bullish For Bitcoin: U.S. Federal Reserve Makes Emergency Rate Cut

3 years ago
hyper inu

Hyper Inu Opens Presale For Golden Members, Here’s Everything You Should Know

1 year ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

June 21, 2021

Recent News

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

January 16, 2023

Press Release

Pop Up World (PUW) Launches NFT Collection – Zero To Superhero

Pop Up World (PUW) Launches NFT Collection – Zero To Superhero

January 31, 2023

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News