Mimic Docs


In the future, Mimic will include a governance token that anyone could get in order to participate in the Mimic DAO. The DAO will be able to control mainly three things in the protocol: fee distribution, whitelisted strategies, and registered implementations.
Initially, Mimic will be governed by a small committee formed by members of the founders, advisors, and investors teams. Once the governance token is deployed, the Mimic DAO will be created and it will be fully transitioned to it, there are no middle steps here, Mimic will be fully decentralized by then.
The governance token will be used for voting to participate in the Mimic DAO. Holders will be able to lock their tokens in order to boost their voting power, usually known as the "voting escrow" model.
Additionally, there will be a liquidity mining program in order to reward Smart Vaults owners. There will be an initial amount that will be minted to reward early users. Liquidity mining rewards will be paid in the governance token, and how much will be distributed per smart vault will be decided by the Mimic DAO.
Mimic will distribute protocol fees to Mimic stakers pro-rata to their stake (buyback or burning), benefitting stakers as adoption of Mimic increases — stakers of Mimic are incentivized to propose, discuss, and vote for proposals that further merit the protocol.