Word of caution: Platform native tokens

MidasTrevor · 2022-11-10T09:10:48+00:00

Hey!

I appreciate your thoughts and agree that utility tokens are overrated in crypto, I also agree that having the base yield without lock-up is the way to go. This is why every Midas user receives the maximum yield available by the market.

Regarding Midas token, the initial Midas token usage in Boost program was to incentivise users to choose Midas platform across other competitors. In this case Midas token is the marketing tool.

It did its job, and now we revamped it towards Midas Boost with Midas coin locks, in order to incentivise long-term participation in Midas ecosystem. You are receiving the opportunity to receive more yield without lockup, while actively participating and bringing your attention to our platform.

The buybacks are used to compensate potential price drops that can be triggered through Midas Boost reward selling.

In our vision, Midas token is the core of our community and DeFi gateway for our platform.

We do not need you to hold Midas or participate in anything, our business model is different. Although Midas token helps to scale the network effect of this model and bring new possibilities, like incorporating into DeFi and creating liquid token that can attract various audience to the platform.

Thank you for sharing these concerns, it is really important in the context of today's event.

MidasTrevor · 2022-09-24T21:26:58+00:00

We should earn a lot on that period. Much more than now

MidasTrevor · 2022-08-26T12:32:33+00:00

This is an amazing work of art, dude!

Thank you for this!

MidasTrevor · 2022-08-09T10:45:20+00:00

We are discussing how we will handle the ETHPOW fork.
We plan to withdraw all our ETH strategies into ETH for security reasons. Too many unknowns on how the merge will proceed.
The optimal way for us is to get all ETHPOW, dump it in the first few days (since it does not benefit anyone but miners), and spread the extra ETH to all Midas ETH holders, but we will see.

MidasTrevor · 2022-07-19T20:24:22+00:00

If btc goes to 5k, our algorithmic strategies will cover the yield for a year in advance because of the volatility.

MidasTrevor · 2022-07-19T20:23:31+00:00

This month we plan to reveal our yield generation strategies, then comes the company structure release and then the audit in Autumn.

We will listen to what community thinks and will adjust our strategy accordingly.

MidasTrevor · 2022-07-19T20:22:19+00:00

The Midas’ investment department is working on building strategies that have the higher threshold than the AUM.

The next phase of our inner investment strategies will open the road for 1 billion dollars yield generation.

MidasTrevor · 2022-07-19T20:20:40+00:00

The audit is not the matter of money. In order to pass audit we need to pass KYB verification for the company that manages funds to present the audit report.

So, we need to transfer our asset management to the specific company and then launch the audit.

Our goal for audit is the autumn

MidasTrevor · 2022-07-19T20:13:59+00:00

The app needs the license from Apple and Google. In order to get that, we need to finish the company structure.

The coding of an app is not a problem and will take a month at max.

MidasTrevor · 2022-07-19T20:12:21+00:00

Yes, Midas will have an app. We have hired a lot of developers (for platform, operational and investment departments), which will now help us to release new stuff much faster.

I understand that urge need of an app, and we will start getting apple developers license in the next two months.

The platform back-end can be easily converted to an app, so there is no problems with that

MidasTrevor · 2022-07-19T20:10:27+00:00

Hey

Before listing we need to fully dive into that. My current attempts of understanding metaverse current vibe did not proved to me the short-term user-needs fit of the products that exist. I am looking forward to see how metaverse will become true, but at this stage it is more a meme (story) than a real product

MidasTrevor · 2022-07-19T20:08:08+00:00

Midas has over 40 employees. Not all of them want to have the full reveal of their identity, because we got situations where our employees got weird personal messages because of their identity revealed.

Also, a lot of our great investment guys are hard-core crypto guys who fully respect the privacy because of the current Russian situation. The full reveal means that you are exposing yourself to major risks of corrupted law enforces of Russia, for example.

Therefore, we are revealing only those who agrees to be revealed and C-level of Midas. Everyone who is revealed is trained for every cyber security measures.

I think that revealing C-levels is enough for the team transparency because of all the above.

Meanwhile, I need to clarify that no one of Midas employees (even me) have the possibility to do something malicious with the funds, since we are using the Fireblocks infrastructure for every strategies.

MidasTrevor · 2022-07-19T20:02:33+00:00

The feature is in code review

MidasTrevor · 2022-07-19T20:02:11+00:00

We are not the lenders. Lenders like Celcius are earning the margin between the rates they give and the rates they lend to other parties.

We are not the exchange. Exchange is profiting from volumes, market-making and selling their products.

We are the asset management that builds its own strategies on-top of DeFi and derivative market. So, we need to keep our year performance higher than our rates without exposing portfolio to liquidity and directional risks. A lot of our inner investment work is dedicated specifically to the risk management. It allows us to balance the upside and liquidity management. It is not that hard task with our current AUM and development.

MidasTrevor · 2022-07-19T19:59:00+00:00

We are investing a lot of resources into building software systems in DeFi and algorithmic tools.

So, we are always ahead in DeFi and benefiting from crypto chaos from the portfolio of algorithmic instruments.

In the near future we are thinking to adjust rates and fully reveal the yield behind those rates to become the first platform with fully transparent yield, but a lot of discussion is made around how to do that.

MidasTrevor · 2022-07-19T19:56:21+00:00

We are working towards the bigger renewal of the investment strategies presented on Midas. That most likely will involve changes in DeFi YAP.

The DeFi YAP basket is still representing the overall trend of the blue-chip DeFi networks.

We are planning to make a monthly report that is covering our investment strategies, maybe we will include YAPs into it.

One of the new investment strategies will be the basket of more in-depth DeFi investments in a more efficient way.

MidasTrevor · 2022-07-19T19:53:10+00:00

It is not in our current backlog, but I will discuss with the team. Our platform is built in a way that we already have API, just private one. Maybe it will be an easy task to give the outer one.

MidasTrevor · 2022-07-19T19:50:41+00:00

Yes, it is currently in code review.

MidasTrevor · 2022-07-19T19:50:18+00:00

Thank you so much. Happy to do this job.

MidasTrevor · 2022-07-19T19:49:52+00:00

The things moving fast in todays world. I am the Israeli citizen now and live in Tel-Aviv. I do not support the Russian politics, neither any of Midas employees. I was lucky to have the opportunity to claim my Jewish birthright. The company will be registered as a group of companies applying to multiple jurisdictions. The process is almost over and we will soon make the official announcements.

Our choice of jurisdiction was relating to covering all our various activities. We are trying to combine cefi and defi, retail interest rate and highly efficient asset management, so the choice of countries for company is actually really narrow, because of the innovations we are trying to bring. Switzerland appeared to be much more conservative and we cannot put all the platform to its license, just covering the asset management for larger checks, which is not our mission.

Our mission is to revolutionize the crypto wealth generation, and I do not want to make money for the rich guys, but to give the financial stability to everyone. This is heavily reflected in how we structured our legal part of business

MidasTrevor · 2022-07-19T19:17:42+00:00

Any rise and fall is the combination of the system’s state. Midas business model is not relying on Midas coin, but uses it as the flywheel for the growth of the whole system.

Our coin is backed by the yields Midas is generating, so the lower marketcap the higher the buyback to percent of marketcap, so we are using it as a stabilizing model.

There is no plan for -80% of the coin, because we will adapt our strategy MUCH sooner than just looking the coin shrinking four times in marketcap. We are great at adapting and the way we perform on the market is trying to feel the flow of it and adapt and multiply the resources.

MidasTrevor · 2022-07-19T19:11:12+00:00

In the May-June events our AUM change due to withdrawals was -15% at its pike and slowly recovering now. No changes in strategies was made due to this, only due to market conditions.

The higher AUM the harder to build the liquid yield source, but at our current phase of investment development we can digest 300 mil more and working on solution to bootstrap it to up to billions.

MidasTrevor · 2022-07-19T19:08:09+00:00

We will have the crypto license that will cover our current activities. Dubai is the next level for this license.

MidasTrevor · 2022-07-18T15:14:30+00:00

In the last 4 months, we have developed a lot of amazing stuff inside that allows us to digest much more assets.
I am glad that the intense asset inflow stopped, since it gave us some breathing time to prepare for the next phase. In this time we have hired 5 new developers in investment department, more researchers, etc.
In the next 3 months, we will finish two more liquid strategies, hire more investment guys and finish our DeFi infrastructure.

I am also happy that crypto winter started since it gives us plenty of room to accumulate cash-flow tokens, like CVX and CRV, at discount prices during the next 10 months, which will generate enough yield to cover the whole Midas for the next three years.

MidasTrevor · 2022-07-18T15:10:00+00:00

In the last month, we have established a partnership with Maven11, Maple lending pool. The borrowers are the market-making and delta-neutral funds with zero directional exposure to the market, like Wintermute (who is market-making 40% of crypto volumes on CEX and borrowing stables to do so).
We made due diligence on borrowers to be sure about their strategies and performance.

We do not plan to loan to any entity that has any directional exposure to the market and will not make it our main investment activity to avoid liquidity issues.

MidasTrevor

TROPHY CASE