According to Mimo’s Growth Manager, Nick Calabro, this will be the first part of a series of bullish updates for the DeFi euro-stablecoin project.
With the new official listing of MIMO and PAR on Bittrex Global, this marks Mimo DeFi’s biggest listing on a CEX (centralized exchange) to date! This can only spell bullish signs for Mimo as its governance token (MIMO) and euro-stablecoin (PAR) gain greater access to a larger trading audience.
PAR is Mimo’s Ethereum-backed stablecoin that is algorithmically pegged to the Euro. It should appeal to Bittrex users who wish to buy into the Mimo ecosystem or for Europeans to use their native currency.
Each PAR is specifically minted in proportion to any loans on Mimo DeFi, and the lending platform is governed by MIMO token holders. Thus PAR tokens are the main asset collateral on Mimo.
The Growth Manager at Mimo DeFi, Nick Calabro, has said that entering the Bittrex lineup is part of a sequence of bullish updates that will come from the project before year’s end.
“It’s been an exciting past few months for Mimo,” gushes Calabro. “With all the news surrounding the dollar, PAR is an easy addition to many crypto portfolios I’m seeing and this listing on Bittrex is just another way to offer stability to more users.”
Calabro added that, “We’re confident that traders on the exchange will value what we have built with PAR both as a means to stabilize their portfolio, hedging another nation’s currency, and joining us as we introduce more tools like this as we expand.”
As one of the safest trading platforms with a secure wallet infrastructure, Bittrex is an ideal partner to Mimo, giving its users easy access to an array of products and services on its CEX.
At the moment, 2 trading pairs for PAR and 1 for MIMO are available on Bittrex:
PAR/BTC + PAR/USDT
To read more about Mimo and PAR (Parallel protocol), please check out the official Mimo channels: