MIDAS token is an integral part of Midas.Investments platform designed to produce yield and give utility to holders. It is a token based on the Fantom blockchain network with a 5,000,000 MIDAS total supply. Users can participate in Yield Farming with MIDAS token on SpiritSwap, SpookySwap and Beefy
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. Initially, it was launched as 0.2*APR, however it can be increased or decreased later to match demand, markets and positioning of the feature to optimize the results and appeal to user.
Users choosing to utilize the MIDAS Boost feature will receive the full value of their payout directly to their MIDAS token share. Payouts are converted into tokens at the MIDAS exchange rate at the time of payment. Users can enable/disable the Boost feature anytime, as the counter is updated only after the payout is made.
As an example, investors now have the ability to generate an APY of:
7.8% on ETH with payouts in ETH, or
9.8% with payouts in MIDAS token with Midas boost activated
Payout Split program
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.
What happens to purchased MIDAS tokens
Purchased tokens go to one of three locations:
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.
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.
Where do these purchases take place?
We make purchases for the payout split through the two largest liquidity pools of MIDAS token. At present, these are SpookySwap, Spiritswap and Bombswap. Prices through these platforms 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.
Wallets related to MIDAS token
- Core wallet for holding user assets: 0x6cc9e8a3d90fefd4e9723d1a3c6977fb0173843b
- Midas treasury: 0xd77d15dca779a09d521a7311aa786b374da9569f
- Tokens not yet claimed from the swap: 0xdc3216332bfe606f81afc475b5199caf404a0426
- Liquidity Pool on Spiritswap: 0xede32b76302cb71cc0467c4b42dabffa6b091dd1
- Liquidity Pool on Bombswap: 0x02ba4291c54d179caf7626a562e06328742ec40d
- Emissions: 0xba8a8f39b2315d4bc725c026ce3898c2c7e74f57
- Wallet connected to swap purchases: 0x7814d71a4b12f6213bf702c3a0e31448ccb2ff29
- Purchases related to YAP’s: 0xa3501e87a699787f16bea5eef782994469c73889
- Purchases related to Payout Split: 0xe2ca353a5831ecc958c2c4ed99e3b170ec4144e7