KIP-4┃Introducing EGK, backed by 740 days Next.e.GO Mobile SE Corporate Bonds

This proposal is introducing EGK, a KUMA Interest-bearing token backed by KUMA NFT, themselves backed by 740 days Next.e.GO Mobile SE Corporate Bonds. The EGK would be deployed on Ethereum.

Mimo Capital AG tokenized Next.e.GO Mobile SE corporate bonds in the form of KUMA NFTs. Mimo Labs proposes to accept this euro denominated NFT through the creation of the EGK by the Protocol.

Next.e.GO Mobile SE is an independent German manufacturer of electric vehicles and sustainable mobility systems based in Aachen. It was founded in 2015 as e.GO Mobile AG by RWTH Aachen-professor Günther Schuh. Their philosophy is innovation with practicality and purpose. They have developed a unique battery electric vehicle platform (e.) as well as Micro-Factories: a revolutionary production system which is a completely disruptive approach to producing electric vehicles. They are focused on providing holistic sustainability. You can learn more about them here.

The EGK would be backed by 740 days Corporate Bonds, tokenized on-chain as NFTs by Mimo Capital AG. Below are the informations of the KUMA NFT:

  • currency: EUR
  • issuer: Next.e.GO Mobile SE
  • term: 740 (days)

For a given riskCategory, there can be multiple individual bonds. For example the US treasury issues 1y government bonds every month, with the same inherent risk. We propose to accept the Next.e.GO Mobile SE riskCategory and its subsequent underlying to ease the integration of new bonds into Kuma Protocol for the EGK.

The first corporate bonds to be accepted as backing of EGK would have the parameters: (further Next.e.GO Mobile SE related bonds may be added by Mimo Capital AG automatically in the future)

  • cusip: nil
  • isin: DE000A351MK1
  • currency: EUR
  • issuer: Next.e.GO Mobile SE
  • term: 740 (days)
  • issuance: 27 April 2023
  • maturity: 6 May 2025
  • coupon: 8.75%
  • principal: EUR 100,000

We propose to set up the SellBond Fee (via the ‘sellBond’ fees function) to 0.01%. This means that a fee of 0.01% is taken on each KIBT minted.

Since EGK would be rebase tokens, their quantity increases in the users’ wallet automatically. We propose to set up the Rebase Epoch Length to 4 hours. (via the ‘KIBT_SET_EPOCH_LENGTH_ROLE’ function)

In order to calculate the KIBT rate, an oracle is needed. As described in KIP-2, the oracle will be provided by Mimo Labs. For the EGK we propose to use an onchain oracle controlled by Mimo Labs via a multisig, which fetches the price from Bloomberg by calling the function ‘SetOracle’.


  • Human resources: If the proposal is approved, the KUMA Multisig signers will have to execute the proposal following the technical voted technical implementation.
  • Treasury resources: There is no treasury cost.

Technical implementation:

  1. Smart contracts:
  • KUMASwap : Deployment for EGK
  • KIBToken : Deployment for EGK
  • KUMAFeeCollector : Deployment for EGK
  1. Setters on the KUMAAddressProvider smart contract:
  • setKIBTToken : Setter for EGK
  • setKUMASwap : Setter for EGK
  • setKUMAFeeCollector : Setter for EGK
  1. Setters sur le MCAGRateFeed :
  • setOracle : Setter for EGK
  1. Roles attributions :
  • Attribution of KUMA_MIN_ROLE to each KUMASwap contract : Attribution for EGK
  • Attribution of KUMA_BURN_ROLE to each KUMASwap contract : Attribution for EGK

Voting options:

  • Accept the creation of EGK
  • Against the creation of EGK / Rework the proposal
  • Abstain

Authors: @JeanBrasse from Mimo Labs

Community poll:

  • Accept the creation of EGK
  • Against the creation of EGK / Rework the proposal
  • Abstain
0 voters
1 Like

Why use 0.01% sellbond fee.?
0.5%, 0.25% or 0.1% sounds very reasonable.

To be highly competitive in the early stage we want to set the fee very low.

U have an unique product, you will also be competitive with a fee of 0.50%.

Still, you wanna force adoption as fast as possible and as big as possible so competitors have a small chance. If you look at Maker you see a good example that even when some stablecoin protocols were better at some points that their first mover advantage was so big that it didn’t matter

:white_check_mark: With over 5.4M votes from $vMIMO holders, KIP-4 has been approved !