Since launch in January 2018, Midas.Investments has grown to become one of the best options for crypto passive income for investors. Here, we dive into the history of Midas to understand where we have come from and the direction we are heading.
Midas Discord server launched, Midas began life with two crypto-enthusiasts and friends (Trevor and Parker) who launched a shared masternode service. By identifying issues in the masternode space, such as ease of access and asset management, Midas aimed to simplify masternode investments and allow the ‘everyday investor’ to take value from this growing market also.
In these humble beginnings, users would arrive on Discord, send their coins to a designated pool and fill their investments onto a public Google Sheet. On a daily basis, Midas would update the Google Sheet with recent payouts to all users to understand the balance of their investment.
Competition in this exploding marketplace was tough and innovation was required. Midas was the first to launch:
- Instant Share allowed users to invest any amount of coins and earn rewards immediately without waiting for ‘seats’ in the masternode to be filled. To begin, Trevor and Parker paid for these instant shares from their own pockets to aid Midas growth. After gaining popularity, Midas was able to make agreements with teams to provide this Instant share during the listing process.
- Reinvestment applied compound interest to masternode investments, which allowed investors on Midas to become up to three times more profitable in comparison to other services.
After revolutionizing masternode investments and bringing Midas a successful launch and steady early growth, these two features were adopted by competitors to become the norm in masternode investing.
Such innovations made Midas one of the top providers on the market. In six months, we increased our team from two to eight full time employees, including Mike in March 2018 as a third co-founder and CTO, which allowed Midas to think big and start development on the automated platform known as Midas.Investments.
MIDAS coin released With the development of the platform close to completion, Midas launched MIDAS coin, our own native masternode coin to unite Midas, the investment platform utility and the wider cryptocurrency space.
On release, we launched a 25% buy back and burn scheme with a proportion of profits flowing to MIDAS market support with the purchased MIDAS coin burned. This eventually allowed us to burn 136,000 MIDAS coins.
MIDAS coin was one of the hottest projects during the latter half of 2018 and was bought by many investors with a lot of these investors still with us today!
Midas platform launched and first automated payouts made After the launch of MIDAS coin, we were ready to launch the Midas investment platform, which formed the foundation of the platform that we use today! With a smooth UI, investors were able to deposit, manage and withdraw their assets in a few simple clicks.
In just three months, Midas has grown to over two thousand active investors.
Fline coin and Fline trading bots launched At the start of 2019, Midas partnered with the Fline project who was in the process of developing automated trading bots, with the BTC/USD market as the core activity. The FLN coin, which offered utility to the Fline bot, was launched in January 2019 with the first iteration of the working Fline trading bot launched in April 2019.
For the first time, Midas diversified our investment opportunities away from masternode investments to give users a choice of product.
MIDAS launches as a zero fee platform with MIDAS Lock-in Prior to MIDAS Lock-in, the only utility offered by MIDAS coin was reducing fees. Through MIDAS Lock-in, we offered investors the opportunity to hold a set amount of MIDAS in a Lock-in feature to bring additional benefits to their investments.
At launch, we offered investors the opportunity to invest without fees, becoming the first and only platform to offer such benefits. By holding 150 MIDAS in Lock-in, users could hold as many masternode coins as they wanted without paying any fees. The ethos of offering a low/no fee platform still carries on today!
Lock-in presented a massive shake-up to the wider masternode community. With competitors riled, it was even known for threats to be made that they would only allow a project to list with them if they didn’t list with Midas!
Alas, it didn’t work and with Lock-in, Instant Share and auto reinvest, Midas became one of the most recognisable and trusted faces in the masternode space.
InstantBuy launches: the new way to purchase investments. The next step of Midas’ evolution was to allow users to purchase investments directly on the Midas platform to avoid the need of using exchanges and providing users with a simplified asset management solution.
Masternode markets often did not have great liquidity, so by allowing users to purchase assets instantly at a fixed price, the popularity of the service boomed and gave investors the opportunity to enter significant positions without pumping the market 10-20% due to low market liquidity.
As well as drastically increasing market support to buy the sold coins, this also funded projects of coins included in the service. Over the time we offered InstantBuy, this funded projects with a total of 46 BTC providing these projects with crucial funds to continue the development of their own projects.
InstantBuy became one of the favourite features of many investors. In one year, weekly volumes increased from 0.1 BTC to 3 BTC. For many coins, the volume on InstantBuy exceeded the exchange volume.
Burnout launch: earn income based on Midas’ platform growth Burn-out was a new concept for the masternode space. It allowed investors the opportunity to generate new revenues of passive income whilst supporting the overall depletion of the coin supply. In addition to earning ROI of up to 200% on the Burnout investment, activated users also received an airdrop for every new coin or token listed to Midas.
In just a few days, hundreds of Burnouts were activated, rocketing the MIDAS demand and market price. Overall, over 100,000 MIDAS were circulating within the Burnout system contributing to over 40,000 MIDAS being Burned. By the time we closed, almost 2000 users had activated Burn-out.
BTC interest launches For the first time ever, Midas launched the ability to earn interest on a non-masternode related asset. Launching with 15% interest, many users moved their BTC assets to Midas. The success of such opportunities gave Midas an idea of the potential demand from such services and gave us first indications on the opportunities away from the masternode space.
Midas exchange released: Complete asset management on one platform For the very first time, investors were able to manage assets from the first to last step all within one platform. By integrating Midas platform with Midas exchange, afforded us to provide further revolutionary benefits such as allowing users to generate rewards whilst holding orders in the orderbook of an exchange.
Creating the Midas exchange from scratch was a long and hard process taking our development team six months. The exchange, including our own matching algorithms, was built from the ground up to allow us to integrate such unique benefits not experienced on any other cryptocurrency exchange.
The launch of Midas exchange further increased the awareness and reputation of Midas and allowed us to secure great partnerships and provide the full investment experience to our users.
The first YAP launched During 2020, Trevor, CEO of Midas, spent a considerable amount of time in one-to-one calls with our users to understand the needs of the users and gather invaluable feedback and data to give clear direction to the Midas project. One thing that was discovered was that users considered the marketplace crowded with no clear understanding of which coin to invest in, when to enter the position and when to exit. The concept of the YAP was launched.
Launched as the Masternode Index (MNI), which would later be rebranded as a ‘yield automated portfolio’ (YAP), Midas provided the opportunity for investors to deposit BTC to this new product and in return would be equally exposed to the coins held within the YAP. The portfolio would be rebalanced on a regular basis to take profits from market pumps and invest this into the undervalued projects in the YAP.
It provided users with the ultimate masternode investment tool that provided direct payouts in BTC.
One month after launch, 124 investors deposited over $112,000 to the Masternode Index. The success of the instrument brought a big boost of market liquidity to the coins involved. The YAP’s are still with Midas. We now offer three different YAP’s holding in excess of $4,000,000
ETH interest launched. Given the demand for the BTC interest instrument, Midas increased our offer to include Ethereum. Launching with 10% interest, allowed investors to hold their ETH directly on Midas to generate compounding returns. Again, the service gained quick traction and allowed Midas to continue to build the basis of a life away from masternodes.
SYAP added to our YAP portfolio To complement the ‘risker’ MN YAP investment product already on offer, Midas launched a Stable YAP (SYAP) investment product to provide investors the opportunity with a new form of BTC and ETH hodling whilst generating strong passive incomes directly in BTC.
Since its launch, SYAP has done exactly what we set out to achieve. With BTC, ETH, USDT and MIDAS included, this has provided investors with smooth asset growth without the wild volatility that cryptocurrency can sometimes throw.
At the time of writing, SYAP proves to be our most popular YAP product, with over 45 BTC invested.
Midas starts synchronising with Defi to generate stronger returns for BTC and ETH: The start of a new beginning For the first time, Midas began deploying BTC and ETH assets directly on Defi to generate stronger returns. A reflection of this change of strategy was our ability to offer increased APY’s to our investors. The ability to offer further increased rates was met with skepticism, but ultimately signals the start of the Midas we know today.
For the entire duration of Q1 and Q2 2021 (you will notice the next milestones are not for several months!) Midas was structuring our pivot away for the masternode space and deployment to Defi. This required complete infrastructural changes, initiation of v1 asset strategies behind the scenes. In addition, the Midas team exploded in size in anticipation and preparation of the demand the pivot to Defi would bring.
Midas pivot away from the masternode space Over a period of three and a half years, Midas gained popularity in the masternode community. We had built innovative solutions to simplify investments and had brought benefits to thousands of users. Change can be scary, but sometimes it is for the best and in Midas’ case was absolutely needed.
Having identified our gap in the Defi industry through offering CeDefi services, Midas began our pivot away from masternodes by closing much of the masternode investment instruments that we previously offered.
Many investors chose to stay with Midas during this migration period, which we will show eternal gratefulness for, with our new services quickly signaling a period of significant growth for Midas - the strongest period of growth in our existence.
The new opportunities allowed Midas to display what we do best, assess the market and innovate to continue offering investors the opportunity for market leading cryptocurrency passive incomes streams.
The launch of the first Defi asset: LINK onboarded to Midas Once ready to initiate and deploy new strategies, processes and investment opportunities, Midas launched our first Defi class investment instrument by listing LINK. This was quickly followed by a host of other great Defi tokens, all of which are still with Midas.
Through our CeDefi services, Midas have been able to offer unrivalled returns. We do this with the help of a fantastic team behind the scenes in every department to ensure that we are able to offer the returns that we do!
Further listings and launch of the DEFI YAP Following the launch of LINK, we deployed a host of other strategies for other Defi tokens on Midas and launched the Defi YAP to compliment our Defi offer.
Defi YAP has continually displayed strong growth since launch and shows the fastest growth of any of the YAP products offered by Midas.
By offering marketing leading returns on top Defi assets accompanied by strong YAP products, this has allowed Midas to grow from a $20m TVL in Sept/Oct 2021 to $175m TVL that is managed at the time of writing.
The end of the road for some features. Previously at the core of our services, Lock-in, InstantBuy and Burnout once allowed Midas to flourish and offer innovative investment solutions. However, such services did not suit the make-up of the CeDefi Midas and we took the difficult and often painful decisions to close the services to allow Midas to approach new opportunities with a clear view.
Such decisions provided a period of short-term volatility to Midas platform and coin, however, such actions are for the best, which have been indicated by such aggressive growth within CeDefi without these services.
By closing Lock-in, this allows Midas to simplify our services entirely, whilst allowing us to offer optimal returns for every investor who chooses to use Midas.
Daily payouts start With Defi assets now at our core, the weekly payouts that we previously had been making on these assets were sub-optimal and understood that our users wanted to see daily payouts reflected in their balance.
As a result, we completely re-coded our payout algorithms to allow us to offer daily payouts to all users across all Defi assets. Such changes gave increased control of the users investment at their fingertips and was met with widespread praise from our user base and allowed Midas to offer boosted APY returns through increased compounding.
MIDAS token launched For more than three years, the MIDAS coin on the PIVX codebase was the core of our services. However, our migration away from masternodes signaled the end for the MIDAS masternode code.
During December 2021, we initiated the swap from MIDAS coin to a brand new MIDAS token based on the FTM blockchain presenting Midas with new opportunities with exciting collaborations and partnerships within the Fantom community and the wider Defi marketplace.
The previously issued MIDAS and FLN masternode coins were swapped to MIDAS tokens at a rate reflecting market value. Such changes have proved monumental for the MIDAS market. With the aid of new utility, overall platform growth and organic user demand, MIDAS has, on several occasions, achieved new all-time highs, volume milestones and unrivaled growth.
In just six weeks, MIDAS has moved from a low of $1.96 to a recent high of $13.50 at the time of writing and continues to display strong upwards growth potential.
The launch of Payout Split With the closure of the previous utility provided by Burnout and Lock-in, we needed a strong replacement that would provide even more demand on the token but without placing any hurdles for users to jump in order to maximize their returns. To achieve this, we launched the Payout Split.
By linking overall TVL growth with a buyback programme, Midas effectively linked the growth of the platform with the MIDAS token market. The results have been explosive.
Simply put, we flow 10% of the value paid out to users through the MIDAS market to purchase tokens from the open market.
At the time of launch, we were paying out 0.35 BTC daily to users (across all Defi assets), resulting in 0.035 BTC building daily for the Payout Split buyback. At the time of writing, and only 9 weeks later, this has grown to a total daily payout of 1.4 BTC and 0.14 BTC accruing daily for the Payout Split buyback.
However, what we do with the MIDAS purchased is what makes the Payout Split special. With the MIDAS purchased, we can either i) deploy to marketing opportunities, including boosting market liquidity, ii) boost users APY or iii) burn.
After the recent 600% growth in the price of MIDAS, we recently chose to deploy the purchased MIDAS directly back to liquidity pools, resulting in a $900,000 boost to market liquidity cementing recent market growth.
Swap feature added to Midas services. To once again move Midas towards a complete investment ecosystem, Midas launched a native swap feature directly to Midas.
Supported by an automated Binance bot, swap orders filled on Midas platform are automatically generated and filled on Binance exchange to secure the swap of assets made by the user.
The future As you’ll see, we have had a long road behind us. It hasn’t always been rosy nor has it been easy and the future will present the team with challenges to overcome.
However, the ability to offer financial freedom to users is what matters to us. It doesn’t matter if you hold $500 or $500,000 on Midas, we are happy to be part of your successful cryptocurrency investment journey either way.
Midas will continue to push to offer optimal returns, the cleanest solutions and the most attractive investment opportunities in the space to ensure both our investors and Midas continue to thrive.