TenX Community Forum

What do you guys think about MiMo?

Hey there,

i really like this new project from the start. It is in some ways really “decentral” … but maybe we have to wait until the new token will distributed (cause actual if i am right the most money in MiMo is from TenX).

The negativ site is a typical point for tenx for the last years … bad timing!

At the moment it is really near impossible to test Mimo and the new borrow function if you dont test it with funds 5000 usd+. To interact with this ERC 20 the cost are way higher then on a normal transaction.

I really hope that the team behind MiMo will look for alternative chains or Solutions → cause i think (personal opinion) the transaction costs will not change really much this year on ETH. Use this stablecoin with a crypto credit card? I mean yeah paying 25 usd fees for a coffee is way to much right?

What if they changed to a chain like cardano or start from the bottom with iotas incomming feeless smart-contracts? Maybe not so much attention at the start but may more if it works fine (and feeless).

Yeah. Nobody wants these transaction fees. Maybe the guys could make an EIP but I think we just have to wait :wink:

I think Tenx with Mimo will have a lot of success.
I know TenX won’t forget us with our Pay and TenX tokens. The new CEO work fine now. We have to believe and support the new team.

Anyone venture a guess what they might do with Pay & Tenx tokens? My guesses are…
i.e. Burn all ‘unclaimed’ Tenx tokens & swap them for Mimo tokens? (will they add an additional ‘Mimo’ token besides ‘PAR’ in the future?)
i.e. Keep Pay & Tenx tokens as-is, but integrate them into Mimo ecosystem? (any guess what this scenario might look like?)

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Don’t think so, cause the Mimo-Tokens will only be distributed to participants at the plattform. That means TenX will not gain these tokens if they not participate with a big amount of money in MiMo.

I think they will let the TenX-Token and Pay pass away slowly … in a few years nobody will ask about them anymore

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I believe Mimo is a legit company with a potentially successful product, but I agree with you there’s a possibility they could decide there’s no value in Pay & Tenx tokens, then try to “sweep them under the rug” by doing nothing and letting Pay & Tenx tokens fade away to nothing, or giving these tokens a “lame-duck” value which doesn’t amount to much.
But seeing how Mimo team is trying to distance themselves from the “Tenx” name, a point comes to mind:
Besides ICO tokens, if they don’t add significant value to tokens which were previously involved in Tenx ecosystem (i.e. “claimed” Tenx tokens, or Tenx tokens in whitelisted wallets, Pay tokens, etc), then the old Tenx community might make it their mission to re-associate Mimo with Tenx negativity (“scam” accusations, etc) on channels where Tenx has less control of content (twitter, fb, reddit, crypto news sites, etc). Regardless if Tenx team wants to face it or not, to really disassociate themselves with past Tenx negativity, I think they need to significantly bring value to Pay & Tenx token holders, regardless if they’re ICO investors or not, this way it’s harder for FUD’sters to argue that Mimo doesn’t care about the ‘community’, or make “scam” accusations tied to Tenx. In short, if they add significant value to Tenx and Pay tokens, yes it may cost them a bit more upfront, but they have a much better chance of starting with a “clean slate” as far as reputation, which will help their adoption rate. As we all know, it only take a few ‘bad actors’, or some guy who works for a small crypto news outlet, to run a FUD story or make some ‘viral’ FUD Tenx-related posts to cause Mimo a lot of headache in the future. If Tenx adds significant value to Pay & Tenx tokens now, it’ll be a lot easier to argue against potential FUD in the future for Mimo.

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This is exactly what they should do. Do think we will see something like this. It’s a bunch of smart people behind TenX and Mimo so they probably understand what happens if they not please old token holders how have made this possible in the first place. If they don’t create any value for the TenX Token soon and all of their supporters I think they will have a hard time to succeed with Mimo… But on the other hand, if they do they will have a great amount of support moving forward.

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@Tenebrae is this sentence still true?

"We are excited to share that we have been building a new platform even more aligned with our mission—a platform that will change the way we earn, spend, and keep our money. The TENX and PAY Tokens will play an important role in this ecosystem. "

One of your answers was that TenX abandon this idea to include the tokens into the new system cause of “different problems” ?

Those tokens have their problems on different levels; one would be from a compliance point of view. To move forward and not wait for years to have full clearance on that topic, using the old tokens as “main tokens” wouldn’t make much sense. Instead, we want to give the old tokens use cases when it makes sense. One condition would be that the new project gain momentum; otherwise, new people would be clearly reluctant to use old tokens. If we introduce products on top of it which benefits old token holders it would be much more attractive. But as I said many times already, this could take a while.

From a company point: What is the interest of tenx to add value to TenX-Token or Pay? …

I mean most of the employees that (maybe) hold TenX-Tokens are gone … the new CEO has not any correlation to Pay or the TenX-Token and … dont think he own any bigger amounts of it (why should he?).

Why should a company care about that old tokens?

I mean you could swap the old tokens to new ones and this will no big deal ( a lot of other companys did that in the past too) but will burn some “value” form the company…

In the last 4 years there are no public tries (that you communicate to the world) to add value to pay.

That is the actual point i think for tenx at the moment…

Maybe i have another opinion → if i want to invest into mimo i would also look at the old token performance … and sure you can say actually there is no official line between both projects … but if you use google the first article is a fud article about tenx and mimo :>

Understand that you guys will gain traction with the Mimo platform, but i honestly think this will be hard when leaving all the people that have found your projects from the very first behind. This will do things so much harder, which is terrible for everyone. If it’s that hard to implement the old tokens due to compliance, why don’t you guys just do a swap. One TenX Token gives you one governance token. Then after the swap, you could just leave the old tokens behind and just focus on Mimo. Everyone will be happy and you will have greater support down the road. Win-win!

Couldn’t this be an option?

A swap doesn’t change anything about what I explained above

Hi @Tenebrae , understood you cannot know when Mimo will add value to Pay and TenX tokens. I’m concerned Pay & Tenx tokens now have a lower chance of gaining any value, after reading recent comments you made.
I’m asking you as favor, to someone who’s been with the Tenx community and a supporter in various forums since 2017…
Could you please humor me with a guess, which no one will hold you accountable for, because it’s just a blind guess:
If you were to blindly guess when Mimo might bring any type of value to Pay & Tenx tokens, roughly when might that be? (i.e. this year? next year? 2 to 3 years?)

I can’t estimate it yet, sorry

Maybe we get some answers today from a different point of view

What about the idea that TenX already mentioned of decentralising the PAY tokens? Are you still pursuing this concept? Would that solve the compliance problem?

I don’t know how that went to be honest. There will be something for the PAY token in the coming weeks, but I wouldn’t call it a use case

are we forgetting that OUR ETH funded this company and that eth is now worth far more than it was then…Why can they not just pay us out at ouyr original buy in price and then kill the token. There would still be money to burn, but the original investors would at least not have beeen tossed aside

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IF I get 1PAR token for 1 PAY token and get 1 PAR token for 1TENX token is ok for me rebranding new Platform new way but still now I am disappointed and still PAR token was not listing on any exchange, I can not do have trust. Sorry my opinion. So I wait 1 or 2 years more or lost all… :joy:

Just the way of tenx with, banking Licence I can not understand for giving up this Milestone, ass first mover, I can not understand, sad. Perhaps tenx was still a startup? I do not know but right now I must do other Reflektioun is it high risk do follow or still first mover, with € stable coin is very difficult, II wait until TVL is over 200MIO is ro high risk for me.
So Mimo x10 and i am back. Or I get PAR token for my PAY or TENX token 1to1 so I am back (and tenx can do this). Ciao