Mimir Solutions DAO

Cyotee Doge
10 min readNov 29, 2020

Mimir Solutions is a DAO funding the development and aiding in the management of defi protocols, defi security tools, and general decentralized technologies. The board of Mimir Solutions will consist of vested partners seeking to promote decentralized tech, and project leaders that have successfully completed the Mimir Solutions incubator process.

Assets held by Mimir Solutions will be spent as directed by proposals voted on by holders of the token $MIM.The intention is to spend these assets to fund the development of other defi protocols and development tools with the goal of improving the security and value of those protocols and tools.

The public governance token $MIMIR will be used to get community input on how to spend the community fund. These funds will be held in a stash provided by Squirrel. The advantage is that Squirrel Stashes provide an approved list of recipients. This way the community can ensure the funds devoted to a proposal goes to the fund managed by the board to execute on the proposal. This model also ensures that community proposals receive proper business and legal review to ensure the viability of the proposal.

Funds and projects supported and managed by Mimir Solutions will also be reviewed and proposed for insurance coverage through protocols like Nexo, and COVER. This way all DAO and community funds will be safe guarded against technical error, or malfeasance from project leaders.

Mimir solutions will ensure the expenditure of these assets to fund future development through the acquisition of the assets offered by supported protocols. Holders of MIM may vote on trading $MIM for other assets, including those held by Mimir Solutions. Including offering a sale of those assets to $MIMIR holders. This will allow for Mimir Solutions to regain a portion of the limited supply of $MIM for future use. And offer value to holders of $MIMIR in a regulatory compliant manner that differentiates itself from traditional dividend or revenue sharing models. These features are provided through partnerships with several organizations. The initial Mimir Solutions partners and their proposed partnership offering is listed below.

  • Enreach — Premier funding partner seeking to define secure standards for defi protocols to implement that can be used in underwriting investment insurance.
  • Telikos DAO — Defi incubator specializing in experimental economic models.
  • AuditDAO — Provides technological and process security standards to protect buyers transacting with defi protocols and other decentralized technology.
  • NFT Yearn — Defi asset management startup developing novel methods of bundling assets.
  • Renascent- Innovative trading and volume creation protocol.
  • IYield Farm — Defi trading startup developing protocols to enable traders to transact securely and efficiently.
  • $CHAINS / $PANTHEON — Defi asset management platform allowing traders to leverage the advantages of coordinated trading while offering a tradable asset based by assets under management.
  • $ERIS / $AMPL / $VLO / $PRIA — Potential reserve currencies used by $CHAINS / $PANTHEON to manage assets without vaults by using DEX pairs.
  • Lucent — Blockchain technology for bridging across chains to facilitate multiple use cases in a unified token model.
  • RULES / REGULA — Rules engine based oracle service providing complex decisions making to smart contracts.
  • $LEARN / $KNOW — Decentralized education and community driven skill certification.
  • Rug RADAR — Publicly available automated contract security analysis

Enreach

Enreach seeks to promote secure defi development to provide traders with technically sound investment options. By supporting the formation of security and design standards in collaboration with AuditDAO and supporting the development of defi startups. Enreach’s first offering, tokenized telco peerage fee debt to defi traders. This just the beginning of the offerings planned by Enreach.

Telikos DAO

Telikos DAO is a defi incubator specializing in experimental defi protocols to test the limits of economics. With liquidity manipulation like $RENAISSANCE Telikos DAO seeks to pioneer economics and asset management to deliver products specially designed to leverage the unique capabilities of defi.

AuditDAO

AuditDAO is a decentralized organization coordinating efforts from a community of software security and finance professionals to maintain technical and process standards in decentralized technology. The aim to provide clear guidance on proven software designs and finance models that ensure the security and legality of decentralized technology implementation.

AuditDAO operates as a non-profit DAO, accepting donations from interested parties in exchange for funding tokens that can be used to purpose projects for AuditDAO to oversee the execution. AuditDAO will also maintain a reserve of funding tokens to be used to propose a budget for its own operating costs and as grants for proposals that lack the funding to donate themselves. These project proposals can be voted on by other holders of the AuditDAO governance token to budget donated funds to complete projects. The AuditDAO governance token will only be available from AuditDAO in exchange for the funding token. This separation of proposal ability from funding governance ability helps mitigate malicious manipulation of the governance, and protection against misappropriation of funds. This also serves to provide oversight similar to the compliance models of 501c3 corporations. The proposal process being similar to a grant submission. Which is separate from the grant approval process while still being restricted to management by actual donors.

NFY

NFY is a defi protocol that wraps ERC20 compliant defi assets in ERC721 compliant tokens, also called NFTs. This enables holders of ERC20 assets to manage those assets as a bundle. This is a similar premise to services provided by Curve and Cream. The distinction being that the assets bundled using NFY are treated as a block. This facilitates trading these assets with other defi protocols by enabling the management of multiple transactions referenced to a single holder.

For example, if a holder of a NFY NFT asset bundle that contains $DAI wishes to use their assets to transact with another defi protocol using $AMPL and receive the proceeds as $TRIB. The NFY protocol can facilitate the execution of the transactions needed to exchange the bundled assets for the asset needed for the desired transaction and to distribute the proceeds.

IYF

IYF is a defi protocol that facilitates holders to take advantage of arbitrage opportunities and revenue from other protocols. IYF seeks to achieve this by introducing integrations between defi protocols, search and analysis tools, and transaction automation.

Lucent

Lucent is a Bitcoin based blockchain offering a similar store of value functionality. Lucent differentiates itself from Bitcoin by extending the capability to include smart contract functionality.

The benefit Lucent provides is a path for development of cross-chain bridges to extend the functionality of Mimir Solutions projects. The intent is that Lucent can provide the ledger for tracking assets cross-chain to provide tokens with the ability to leverage functionality provided by those other chains. As an example, a telecommunications company offers a tokenized version of their revenue as a regulated security, and a tokenized version of their traffic data. Lucent could provide holders of the tokenized

Pantheon

Previously named $CHAINS, $PANTHEON provides a unique asset management service leveraging elastic finance techniques to provide mutual pool functionality. $PANTHEON acts as the wrapper token for assets under management in $PANTHEON. Perpetually selling $PANTHEON as a means of accepting assets for deposit. Normally this would be handled by minting new tokens, as seen in $WETH and $WBTC. $PANTHEON distinguishes itself from other protocols by using elastic finance techniques to dynamically adjust the total supply of $PANTHEON based on the total value of assets managed by $PANTHEON. This provides functionality akin to Curve, Swerve, or mStable. But across all assets managed by $PANTHEON. This asset management process eliminates vaults in the favor of managing assets through exchange listings. This way $PANTHEON can manage assets through DEX pairs generating trading volume and ensuring funds are available to trade, instead sitting static in a vault.

$ERIS

$ERIS is the first reserve currency of $PANTHEON. $ERIS offers a unique deflationary mechanism and supply model that enables it to act as a reserve currency to manage the other assets paired with it, while still encouraging trading against those assets on the open market. But applying elastic finance models to managing holders balances $ERIS is able to benefit holders and traders of $ERIS by distributing proceeds using a share model. In addition, coupled with the $ERIS Quadratic Pricing Sales protocol new $ERIS can be minted and sold to acquire more assets to be paired with $ERIS for management under $PANTHEON in a manner that does not dilute current holders and provides unique arbitrage opportunities. Along with other tokens providing similarly specialised economic models like $PRIA, $REFLECT, $PROPHET and $AMPL, $ERIS, through the $PANTHEON asset management protocol can offer a non-dilutionary method to regularly increase liquidity and trading options.by acquiring more assets to pair with $ERIS.

$RULES / $REGULA

Due to the gas limit in Ethereum, and similar transaction fee models like the dev pays model in EOS there is a upper limit on the complexity of data processing possible on-chain. Combined with the limitations of data available on-chain there is a soft limit on the capabilities of blockchain based distributed computing.

Services like Chainlink and Umbrella Network providing oracles can mitigate this limit by making off-chain data available on-chain. But even with all the data in the world available on-chain, there is still a limit on the amount and complexity of calculations that can be completed in the transaction limit and time allowed to complete a block. There could be solutions in multi-tiered blockchains and process chunking across blocks, we don’t have that yet. But, what if we could move some of the complex processes off-chain?

Rules engines have been used for years in enterprise across business sectors to execute complex condition data processing. They are often included on broader business process management products. Just as loan underwriting, credit evaluation, fraud detection, and market analysis. And many rules engines are designed to work by accepting HTTP requests containing the “facts” being submitted for evaluation. By enriching that data rules engines can provide near-real time complex data processing so long as the query can be broken down to conditional statements. And when combined with oracle networks can easily provide this functionality on-chain.

$RULES is planned to follow a pay-per-request model, likely in the fractions of a cent in $RULES. This provides a real revenue model by requiring users to buy $RULES from the market to be able to use the service. When coupled with regular OTC sales of $RULES to established customers, and regular sales and buy back cycles to acquire and redistribute the supply a tokenized economy can be established. Which will enable a community marketplace of rules that users can use in their requests, with a portion of the fee going to the writers of those rules.

$REGULA acts as the governance token to advise on technological development to decentralize the rules engine technology, and integration with supporting technologies like Chainlink and Umbrella Network, including buy-back and sales rounds to manage project funding.

$LEARN / $KNOW

Education and skill certification has become unaffordable, and unreliable. $LEARN, the currency token, and $KNOW, the skill certification governance and redemption token provides a decentralized solution.

$LEARN is intended to operate as a generalized educational services currency. Providing buyers the ability to provide liquidity that can be redeemed by educators as compensation being awarded a portion of the educator’s fees. Acting as a decentralized educational loan process that incentivizes educators to provide tangible value to students. By incorporating a vesting process contingent on student meeting milestones or forfeiting funds, and a educator providing demonstrations of instruction to successively unlock more of the fee the decentralized loan model can be secured on both sides.

$KNOW is intended to be the community governance skill validation token and educator reputation token. Holders of $KNOW will be able to vote on criteria for a skill validation certification proposed by holders of $KNOW. But wrapping a reward of $KNOW provided to students and educators, $KNOW can also be used a non-inflationary reputation token. This way independent parties, such a product vendors seeking to define a certification standard can provide liquidity that can be used to fund educational grants and projects. And $KNOW wrapped in a NFT to prevent the regular awarding of $KNOW as a reputation can be combined with on-chain recording of vendor certifications that can be earned. A collection of NFTs, each identifying a specific certification earned, containing a balance of $KNOW to signify the reputation of the certification holder can also be used to vote on proposals to ensure that proposals are simply dictated by the highest bidder, but also influenced by holders who have proven their knowledge and ability to deliver educational value to the community.

Rug RADAR

Defi is rife with scams. And it’s unreasonable to expect every investor to have the knowledge to completely do their own research. Capitalism thrives on specialization. And if everyone’s a coder so they can invest, who’s going to make all the NFTs?

Rug RADAR started as a Javascript status code analysis tool running in your browser. This has already provided immense value to the community by giving more knowledge to more investors. By being able to apply proven static code analysis technology commonly used in enterprise development implemented in your browser Rug RADAR has only scratched the surface of what’s possible. Companies like Truffle Suite, MythX, and OpenZeppelin provide premium code analysis tools for developers. But these are currently tuned, and packaged for developers. While anyone could download and apply the free open source versions, this typically requires development skills.

By apply proven enterprise technology, with a simple pay per scan tokenization model these products can be made available to the community to execute on demand. By taking advantage of cached results, the cost can be kept very low, and amortized across multiple requests for the same result to allow for a fair price for the service. Combined with a fee split model for liquidity providers and the ability to spend pending rewards on requests a reasonable tokenization model can be defined where a deposit of a reasonable amount of liquidity and average usage of requests an early buyer and staker could easy maintain a life time of use provided the trading volume keep up. And with a pay per request model, trading volume, and additions to liquidity can be maintained with regular resales of paid tokens, and promotions to provide liquidity. Combined with the ability to pay tokens to vote on funding further development of the capabilities of Rug RADAR, advancing from the basic static code analysis in your browser to full simulated test runs with thousands of transactions on the server. Tests that can be provided by developers that when users select their tests, the developer that provided the test can receive a portion of the fee.

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