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MIDAS is the utility token of Midas.Investments that serves as a bridge between CeFi & DeFi and governance token for Midas DeFi protocol. It is an erc20 token based on the Ethereum blockchain with a 5,000,000 MIDAS total supply. Users can swap to MIDAS directly on Midas' platform or use the UniSwap decentralized exchange to swap in MIDAS-ETH (v3) and MIDAS-USDC (v2) pairs or participate in liquidity mining.
MIDAS token holders have the ability to earn 22.2% APY on their tokens directly on Midas’ platform. In the future, there will be an option to stake MIDAS directly into staking contracts representing a decentralized, self-custodied approach. Staking MIDAS token directly with a smart contract will occur outside of Midas’ platform, where users will be able to integrate their browser wallets.
Midas platform has a special feature to maximize passive income from crypto assets held on the platform and increase the utility of MIDAS token. Midas users have the opportunity to boost their native APR by receiving payouts directly in MIDAS token.
Midas Boost is a five-tier system, comprising Base, Bronze, Silver, Gold and Diamond levels, which increase returns depending on MIDAS holdings as a percent of a user’s portfolio.
The structure of Midas Boost Tiers will be adaptive and flexible to market conditions and user data to provide optimal results for both users and MIDAS. As has always been the case, MIDAS earned by any user is not subject to a locking period, and users may swap in and out of MIDAS at any time. MIDAS retained by users will continue to earn at MIDAS’ native APY.
On a regular basis, the Midas team analyzes total payouts made to investors across all coins/tokens and initiates a 10% payout split to the MIDAS market.
For example: from a total daily payout of 1 BTC to users, 0.1 BTC would flow to the MIDAS market daily. The rate of payout split will be reviewed on a six-monthly basis.
The payout split is based on the AUM (assets under management) on the Midas platform and the rate of payouts we are generating for users. This will provide a consistent and sustained flow of liquidity to the new MIDAS market.
Purchased tokens go to one of three locations:
1. Growth fund
Funds will be held and utilized with the sole purpose to provide opportunities for growth to Midas platform and/or token. Possible solutions could be:
- providing liquidity to new or existing liquidity pools to provide strength to markets and open opportunities on new platforms.
- providing opening liquidity on new farming or staking options for users, which increases the outside awareness of Midas.
- marketing opportunities, be that internal or external activity which we have assessed open new opportunities for growth.
2. Investor APY boost
Funds collected in this allocation will be released in the following six-month cycle of emission rates – upon the six-monthly review of smart contract emissions
Funds enter a designated burn wallet address that will not be recovered.
Asset flow from the payout split will be reviewed on a six-monthly basis to ensure funds purchased through the Payout Split are being utilized to provide optimal long-term results. For launch, 50% of purchased MIDAS will flow towards the growth fund and 50% towards the Investor APY boost fund.
We make purchases for the payout split through the two largest liquidity pools of MIDAS token. At present, these are MIDAS-ETH (v3) and MIDAS-USDC (v2) on Uniswap. Prices through this platform directly contribute to live market data for MIDAS token on CMC and Coingecko and will assist in providing maximum support and growth to the MIDAS market.
The smart contract of MIDAS token has been audited by Hacken, a leading blockchain cybersecurity company that provides smart contract auditing services for crypto projects in Web3, DeFi, and Metaverse.
MIDAS Token audit.pdf