Mimics are fully-collateralized derivative tokens on Polygon that leverage oracles to mirror the appraised price NFT collections. Anyone can mint new Mimics using the Mimicry platform. Mimics are collateralized by ERC-20 tokens. Network participants may collateralize their positions using the Mimicry Network Token ($MIME) to receive rewards.
Mimicry is inspired by the Synthentix protocol's pooled collateral model, allowing Mimics to be traded with near infinite liquidity and zero slippage. Trades between Mimics generate a small fee that is distributed to $MIME collateral providers. This counterpartyless mechanism solves the liquidity issues that plague NFT investors.
