Overview
Midas Dollar Protocol is designed by the Midas Protocol team as the algorithmic stablecoin on Binance Smart Chain. Midas Dollar is an innovative solution that can adjust its supply deterministically to move the price of the token in the direction of a target price to bring programmability and interoperability to DeFi.
Investor
N/A
Partner
Tomochain; Coincodex; coinpedia; firo; klaytn; kambria; blockspot;; Coinbar; CoinHE; Kyber Network; coinmarketcap; Cynopsis; Sentinel Protocol; Traceto; Moonpay; Icono; SFA; Rich vas; REV law; Chon’s; GITA
Stats
Total value locked: $ 20,737,281.74
Market Cap: $ 5,964,509
UTC 2021.3.26 04:48
Token
NAME: MDO
Type： BEP-20
MDO Token Distribution：
Total Supply: 5,307,392
Circulating Supply: 5,307,392
Usage：
Midas Dollar (MDO) tokens are designed to be used as a medium of exchange. The built-in stability mechanism in the protocol determistically expands and contracts the MDO supply to maintain MDO’s peg to 1 $BUSD token (which trades closely to a single United States Dollar)
NAME: MDS
Type： BEP-20
MDS Token Distribution：
Total Supply: 19,936
Circulating Supply: 2,492
Usage：
Midas Dollar Shares (MDS) loosely represent the value of the Midas Dollar Protocol and trust in its systemic ability to maintain MDO to peg. During epoch expansions (when TWAP - time-weighted average price of MDO is above the 1 $BUSD peg), the protocol mints MDO and distributes it proportionally to all MDS holders who have staked their tokens in the boardroom.
Additionally, MDS are used to achieved a completely decentralized on-chain governance where MDS holders have voting rights and the ability to create proposals to improve the protocol.
MDS has a maximum total supply of 21,000 tokens. 1,750 MDS are allocated to Midas DAO Fund. 1,750 MDS are allocated to the team. Both are vested linearly over 12 months. The remaining 17,500 MDS are allocated for incentivizing Liquidity Providers in 2 pools MDO/BUSD and MDS/BUSD, and MDO/BNB after 10 days, with duration of 12 months.
NAME: MDB
Type： BEP-20
MDO Token Distribution：
Total Supply: 41,277
Usage：
Midas Dollar Bonds (MDB) help to incentivize changes in MDO supply during both epoch expansion and contraction periods. For starters, the exchange rate for MDO to MDB is 1:1, but MDB to MDO ratio is dependent upon the mechanism as described here. When MDO’s TWAP falls below 1 $BUSD peg, MDB gets issued and can be bought with MDO at its prevailing price. Doing so takes MDO out of its circulating supply.
Contrary to early algorithmic, seigniorage stablecoin protocols, MDB does not have expiration dates. All holders are able to redeem their MDB for MDO tokens as long as the Treasury has a positive MDO balance, which typically happens when the protocol is in epoch expansion.
Official Links
Website： https://midasdollar.fi/
Whitepaper： http://basis.io/basis_whitepaper_en.pdf
Github： GitHub - MidasCore/midasdollar-protocol: Solidity implementation of the Basis Cash Protocol
Contracts on BSC： 0x35e869b7456462b81cdb5e6e42434bd27f3f788c
Roadmap:
Midas Dollar Roadmap 2021
Roadmap for 2021 focuses on growing the Midas Dollar and Midas Protocol ecosystem, and this includes more use cases for MDO, MDS and Bcash tokens.
Checklist Q1
Launching Midas Dollar plaftform
Integrated BEP20 (BUSD, BCash, MDO, MDS for application and games at Midas Ecosystem)
Midas Vaults with double/triple tokens reward
MiDex
Q2
More Bridges (to other blockchain networks)
Orderbook MiDex
Margin/Option MiDex
Public API for MDO payment gateway
Lending System
NFT Market
Q3
Cross-chain natively (PolkaDot, Solana)
Audit Report:
Risk Framework
N/A