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In-App Use Cases
Players may use a wide array of ERC-20 tokens to open positions, pay exit fees, and tip Balancers. And Directors may use whatever token they like to pay for advertising. However, all exit fees, advertising fees, and tips must ultimately be paid using $MIMIC. Accordingly, when a player does not pay fees with $MIMIC, their payment token will be immediately converted to a MARKET BUY order for $MIMIC tokens across supported exchanges and they will be responsible for slippage. Therefore every action in the protocol represents demand for $MIMIC.
For the sake of clarity, only fees—not deposits locked in the smart contract—will be converted to $MIMIC.
Players who use $MIMIC to open positions, or auto-swap to $MIMIC within our UI, will have access to advanced features that will not be available to players who use other tokens. For example, automations will all be restricted to players who mint Mimes using $MIMIC.
Community rewards will also be restricted to players who use $MIMIC to open their positions. This will serve to increase demand for the token while also effectively removing $MIMIC tokens from circulation when they are locked in positions.