Jarvis x Mimo: bringing more value to Euro stablecoins ecosystem on Polygon

We are beyond excited to announce the launch of a new yield farming program on Curve (Polygon) in partnership with Mimo Capital. This new program allows to unlock the full potential of Euros stablecoin on Polygon, by combining the value proposition of Mimo’s and Jarvis’ own Euro stablecoin, respectively the PAR and the jEUR. This program will reward users depositing jEUR, PAR, EURS and EURT into the 4eur pool on Curve, with $230k worth of JRT, UMA, and MIMO, wrapped into the DENARIUS token.Jarvis and Mimo, a beautiful synergy

Jarvis and Mimo, a beautiful synergy

Mimo Capital allows its users to mint PAR (read the tutorial), a crypto-backed Euro stablecoin, against their BTC, ETH, and USDC. Mimo essentially provides users with an on-chain Euro credit line, allowing them to borrow Euros stablecoin instead of selling their assets.

Jarvis Network allows its users to buy and sell jEUR, a synthetic Euro stablecoin whose particularity is its convertibility for USDC at the Chainlink price feed. This allows for jEUR to have both a strong peg and a high on-chain liquidity. Eventually jEUR also benefits from a 1-to-1 fiat on and off-ramp, powered by Mt Pelerin.

Euro yield farming

Jarvis Network and Mimo Capital are investing $230k worth of rewards in JRT, UMA, and MIMO, wrapped into a token called DENARIUS (DEN), to reward liquidity providers of the 4eur Curve pool.

How to participate in the DEN-4eur pool?

1. Acquire DEN and 4eur-f LP tokens

  • The 4eur-f LP tokens can be acquired by depositing Euro stablecoins into the 4eur Curve pool, or by selling DEN token.

Since DEN and 4eur-f LP token are not displayed in KyberDMM’s interface, you may need to pass the contract addressed:

  • DEN: 0xf379cb529ae58e1a03e62d3e31565f4f7c1f2020
  • 4eur-f LP: 0xad326c253a84e9805559b73a08724e11e49ca651

2. Deposit liquidity

KyberDMM allows you to deposit either both tokens in a balanced proportion (“Token Pair”), or only one of the tokens (“Single Token”); with the latter feature, the token you will provide will be sold, and therefore a slippage may occur.

3. Stake LP token

You will need to stake them as well in the Jarvis Yield application, and you will be able to claim your rewards from there.

What is the Denarius token?

The Denarius token is designed to content short-term and long-term farmers, as well as the projects’ token holders. It is a future contract with some interesting trading mechanisms described below.

Reserve

  • 845,600 JRT
  • 3,420 UMA
  • 745,000 MIMO

Sell or keep DEN?

At their expiry, the 21st of January, each 1 DEN token can be burnt to redeem 1% of the Reserve contract.

Trading mechanisms

Risks

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