VentureBeat reports that Xiaomi has released MiMo Code V0.1.0, a free, open-source terminal-based AI coding agent licensed under the MIT license. According to Xiaomi's benchmarks, MiMo Code scores 62% on SWE-Bench Pro and 73% on Terminal Bench 2, edging past Claude Code by around five percentage points on long-horizon, multi-step tasks. Its standout feature is a persistent memory system: a background subagent continuously condenses context so the agent stays oriented across 200-step coding sessions — the point where most rivals start to forget. A built-in Compose mode lets users describe an idea and have the agent handle design, planning, coding, testing, and review end-to-end. Third-party models including DeepSeek and Kimi are supported alongside Xiaomi's own MiMo-V2.5.