• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • CryptoSphere, Wrocław (February 4, 2023)
    • TMRW, Dubai (February 8-10, 2023)
    • European Blockchain Convention, Barcelona (February 15-17, 2023)
    • Blockchain Fest, Singapore (February 16-17, 2023)
    • Blockchain Economy Summit, London (February 27-28, 2023)
    • Paris Blockchain Week (March 20-24, 2023)
    • GAIN Expo, Amsterdam (May 4-5, 2023)
    • Blockchain Expo North America, Santa Clara (May 17-18, 2023)
    • COMEX, Oman (May 22-25, 2023)
    • BLOCK3000: Blockchain Battle, Lisbon (July 6-7, 2023)
    • NFT Show Europe, Valencia (July 14-15, 2023)
    • TOKEN2049, Singapore (September 13-14, 2023)
    • Blockchain Expo Europe, Amsterdam (September 26-27, 2023)
  • Past Events
    • Event Horizon
    • Blockchain Life
    • BlockShow Europe

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies


Join us on Telegram: https://t.me/crypto_reporter
Visit Paris Blockchain Week on March 20-24, 2023
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

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

January 17, 2023 By Crypto Reporter PR

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.

Filed Under: Press Releases

Primary Sidebar

Follow Us

Press Releases

World Cup Inu (WCI) is now on Lbank Exchange, Enjin Coin (ENJ) launches latest wallet version, While Orbeon Protocol (ORBN) gives amazing return

February 2, 2023

Europe’s most influential blockchain & crypto event returns to Barcelona

February 1, 2023

METACO Harmonize Selected by DekaBank as Core Platform for Institutional Digital Asset Offering

February 1, 2023

Oasys to be Listed on Leading Japanese Crypto Exchange, bitbank

February 1, 2023

Cardano (ADA), Uniswap (UNI) and Orbeon Protocol (ORBN) Are the Top Cryptocurrencies Ready to Skyrocket

February 1, 2023

Cryptosphere

TMRW

EBC 2023

Blockchain Fest Singapore 2023

Blockchain Economy London 2023

PBW 2023

GAIN Expo 2023

Blockchain Expo North America 2023

COMEX 2023

Blockchain Expo Europe 2023

Blockchain Expo Global 2023

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2023 Crypto Reporter