mBASIS has generated 33% year-to-date and 42% annualised over the past two weeks in a USD (delta) neutral strategy. This makes mBASIS the highest yielding strategy for stablecoin holders in DeFi, as seen in the chart below. Why is mBASIS the highest yielding stablecoin strategy in DeFi?

When Fabrice and I founded Midas, our mission was simple: to make investing and saving as open and accessible as the internet.The transparency and openness of public blockchain networks have brought us closer to that vision. Many pioneers in the decentralized finance space have laid the groundwork for Midas to introduce innovative solutions that make these investment products more accessible and affordable to a broad audience.

Since the publication of the Bitcoin whitepaper in 2008, blockchain technology has been expected to revolutionize financial transactions by introducing peer-to-peer settlement layers. While blockchain has grown significantly, it’s struggled to achieve mass adoption and sustainable, real-world use cases outside niche areas.However, this narrative shifts with the introduction of TON (The Open Network), integrated into Telegram. At Token2049 in September 2023, Telegram announced its native crypto wallet, TON Space. Within a year, the ecosystem has exploded, boasting over 10 million monthly active users, surpassing the Ethereum Virtual Machine (EVM) ecosystem. Notably, Tether’s USDT on TON became the fastest-growing stablecoin in history, reaching $1 billion in circulation within just four months.2024: The Year Blockchain Goes Mainstream with TON and Telegram [https://blog.midas.app/content/images/2024/09/data-src-image-4cb5e6c2-6915-417f-97b7-c46f7c0ab944.png]Source: tonstatsThis figure is still growing, as Hamster Combat marked the largest airdrop ever, with 130 million users claiming the token. Going forward, millions of new blockchain users will emerge as they acquire TON to claim rewards and participate in the on-chain ecosystem, exchanging tokens for USDT on a CEX or DEX.Beyond the "tap-to-earn" hype, I expect the TON ecosystem to grow sustainably based on three key advantages: 1. Telegram’s large user base 2. Exceptional user experience (UX) 3. Low transaction feesOver time, I believe Telegram is steering toward becoming a global SuperApp, similar to WeChat, with TON serving as the decentralized settlement layer for financial transactions. This marks a significant step toward fulfilling the original vision of blockchain—a peer-to-peer electronic cash system with millions of users globally.“2024 will go down in history as the year when hundreds of millions of people became familiar with blockchain.” (Pavel Durov [https://t.me/durov/336?ref=blog.midas.app], Founder of Telegram)KEY ADVANTAGES OF TON AND TELEGRAM INTEGRATION 1. Exceptional User Experience (UX)One of the biggest barriers to blockchain’s mass adoption has been complex UX—users must deal with seed phrases, gas fees, and complicated transactions. These friction points prevent mainstream users from utilizing on-chain transactions for day-to-day money transfers.In stark contrast, Telegram’s TON wallet operates like a seamless Web 2.0 application. Sending USDT on Telegram is as intuitive as sending a regular message. See the three simple steps below.

When Fabrice and I founded Midas, our ambition was to make investing work like the internet, open and accessible to anyone. This aligns with Sky’s values for USDS to be inclusive and accessible regardless of circumstance, constructing an unbiased financial system.Sky has been instrumental in the formation of decentralised finance pioneering the development of a stable and decentralised financial ecosystem. Sky has grown USDS to become among the largest decentralised stablecoins globally.To further support Sky’s vision, we are excited to present our proposal for the Sky Tokenization Grand Prix:I. Beyond U.S. T-Bills, Midas provides Sky exposure to best-in-class yield products across the market cycles, including Perpetual Funding Rates and High-yield structured products.Sky is DeFi’s best place to save. Midas supports this ambition to provide the Sky community with exposure to best-in-class tokenized yield products across the market cycles. * Bear Markets: mTBILL offers exposure to high-quality tokenized T-Bills, ensuring the best interest rates on USD even in the absence of contango crypto markets. * Bull Markets: mBASIS provides exposure to perpetual futures funding yield through an institutional-grade basis trading strategy.As Sky aims to scale USDS to +100 billion, its collateral backing is destined to include a broad backing. Midas is well-positioned to support this scaling effort with high-quality yield products such as corporate bonds, and non-U.S. foreign debt (such as Euro-bonds and other on-chain structured products).Midas has received regulatory approval to tokenize a broad range of securities such as stocks, bonds, and crypto derivative or yield-bearing stablecoin investments. This strategically aligns us with Sky’s long-term goals and enables us to provide a high-quality yield to power USDS.Product roadmap for Sky beyond the Tokenization Grand PrixStart your engines. Our proposal for the Spark Tokenization Grand Prix. [https://blog.midas.app/content/images/2024/09/image.png]II. MIDAS’ YIELD-TOKENS ARE DESIGNED FOR LENDING USE-CASES IN SPARKLEND, STRATEGICALLY ALIGNING ITSELF WITH THE SPARKDAO.Midas’ yield-tokens are designed for lending use cases in SparkLend, strategically aligning itself with SparkDAO. Money markets are a vital component of DeFi, with strong demand demonstrated by an excess of $50 billion in total value locked (TVL) in lending protocols during the last cycle. Spark focuses on lending and DeFi use cases within the Sky ecosystem and has become one of the largest DeFi protocols in the market.The foundation of effective money markets lies in seamless collateral auctions to protect lenders in case of loan defaults, especially during volatile market conditions. In SparkLend, liquidations are open to anyone, enabling an efficient collateral liquidation process. Midas’ tokens are permissionless in secondary transfers, allowing liquidators to bid for defaulted loan assets and recover lenders’ debts. This feature is crucial for DeFi money markets and is already live in Midas’s Morpho Vault.Additionally, since mTBILL provides instantaneous redemptions, liquidators can immediately redeem the net asset value (NAV) of the underlying assets, mitigating market exposure risks.Onboarding tokenized T-Bills like mTBILL or mBASIS on SparkLend will continuously elevate the base rate of lending in DeFi. Economic forces will narrow the gap between interest rates in DeFi, CeFi, and traditional markets, as arbitrage opportunities between markets are addressed with on-chain integration.This process will democratize access to high-quality yield products on SparkLend for anyone with internet access, even without banking system access or direct exposure to tokenized securities, aligning with Sky’s ambition to rewire the global financial system.Yield transfer via economic forces on SparkLend Start your engines. Our proposal for the Spark Tokenization Grand Prix. [https://blog.midas.app/content/images/2024/09/image-1.png]Since the permissionless design is supported by mTBILL and mBASIS by default, users of SparkLend can profitably engage in opportunities across market cycles.III. MIDAS IS STRENGTHENING THE UTILITY OF USDS.Midas is committed to enhancing the utility of USDS and the Sky ecosystem. This commitment begins with integrating USDS into Midas’ product suite, allowing users to request issuance and redemption of mTBILL or mBASIS using USDS. This offers USDS holders attractive investment options and bolsters the overall utility of USDS.We are excited to share that our partners share the commitment to Sky’s ecosystem: * Flowdesk, GSR, and Wintermute are liquidity partners, committed to providing liquidity between mTBILL/USDS for large investments as part of the Tokenization Grand Prix. * Hex Trust and Rakkar Digital provide Qualified Custody support for Midas-issued tokens, safeguarding assets for institutions and high net-worth investors. * Copper (Clearloop) provides an industry-leading Off-Exchange Settlement (OES) solution, mitigating exchange risk and reducing operational complexity. * Chronicle is an Oracle solution that has exclusively secured over $10B in assets for the Maker ecosystem since 2017. Chronicle is providing oracles for mTBILL on L2s, propagating the primary market oracle on Ethereum. * DeFi venues such as Morpho, and Euler support Midas’s yield-token.Midas shares deep ties with large active participants in the Sky ecosystem. BlockTower and Framework Ventures are also significant holders of MKR and long-standing ecosystem participants and co-led Midas’s $9mn investment round [https://midas.app/blog/midas-raises-8-75-million-funding-round-led-by-framework-ventures-blocktower-and-hv-capital?ref=blog.midas.app]. Beyond that, Midas is backed by blue-chip VCs including HV Capital, Cathay Ledger, 6th Man Ventures, Hack VC, GSR, and Coinbase Ventures, among others.Midas is an asset tokenization protocol bringing regulatory-compliant exposure to institutional-grade assets onchain, unlocking DeFi composability for real-world assets (RWA).Disclaimer: Midas-issued tokens are not available to persons and entities in the US, China, and to those in sanctioned countries. Midas-issued tokens are also not available to individuals in the UK. Past performance is no indicator of future returns.Click here [https://forum.makerdao.com/t/tokenization-grand-prix-application-midas-mtbill/25198?ref=blog.midas.app] to read the proposal in full!

When we started Midas, our ambition was to make saving and investing work like the internet, open and accessible to everyone. Our team’s experience spans top protocols and companies, combining unmatched expertise in traditional finance and decentralized technologies.Midas isn’t just a platform—it’s the best place to save and invest on the internet. We’re excited to have you with us!Discover Who's Behind Midas [https://blog.midas.app/content/images/2024/08/Leadership.png]Let’s introduce you to the key players driving our mission:🌟 Fabrice Grinda, our Executive Chairman, is a trailblazing angel investor and marketplace entrepreneur, having achieved over 300 exits across 1,000+ investments. From co-founding OLX, one of the world’s largest online marketplaces, to being named the top angel investor by Forbes, Fabrice’s experience is unparalleled.🤵 Dennis Dinkelmeyer, our CEO, brings a wealth of experience from his time at Capital Group and Goldman Sachs. His sharp insights and strategic vision guide Midas toward new horizons in the crypto space.💼 Jonas Konstandin, our Chief of Staff, previously led the Digital Asset unit at Solaris Group SE, launching innovative crypto products for heavyweights like Coinbase and Binance.🚀 Romain Bourgois, our Head of Product, brings a wealth of experience from his time at Ondo Finance ($1b market cap token).🤝 Greg Feibus, Head of Institutional Sales & Partnerships, has a rich background in capital markets and digital assets, having held senior roles at SunGard (FIS Global) and Anchorage Digital. Before Midas, Greg operated as a Director of Sales for Ondo Finance.🛡️ Alec Horner cut his teeth at MakerDAO, where he gained deep insights into decentralized governance and the broader decentralized economy.🔧 Jonathan C, our Head of Engineering, is the tech visionary behind Midas’s innovative platform. 🔍 Alex Berto, our risk management advisor, was pivotal in setting resilient DeFi risk standards at Aave.With such a diverse team, Midas is poised to lead the charge at the intersection of traditional finance and DeFi. 💡Stay connected with us for the latest updates, or explore our platform and products to see how we're revolutionizing the future of onchain finance!🔗 Visit our website [https://midas.app/?ref=blog.midas.app] | 📲 Join our Telegram [https://t.me/midasrwa?ref=blog.midas.app] | 🔔 Follow us on Twitter [https://x.com/MidasRWA?ref=blog.midas.app] | 📃 Read our Docs [https://docs.midas.app/?ref=blog.midas.app]

Midas’s mBASIS gives token-holders exposure to an institutional-grade basis trading strategy. This strategy takes advantage of profitable crypto-basis positions during bull cycles when markets are in contango. The mBASIS token differentiates itself through its actively managed approach that dynamically allocates basis positions in the major large-caps (BTC & ETH) while incorporating yield from the top 20 altcoins. This meaningfully enhances the return profile, with market-neutral returns between 20% and 40% observed in past bull cycles.During declining markets, the strategy adjusts to reverse basis trading, taking advantage of backwardation of the yield curve, or allocates into US T-Bills via Midas’s core product, mTBILL.Midas partnered with a high-quality asset manager while providing a best-in-class tokenization infrastructure. As with all of Midas' products, this allows users to manage their assets onchain effectively, harnessing the flexibility of a permissionless ERC-20 token.INSTITUTIONAL-GRADE ALL-WEATHER STRATEGYThe structure of the mBASIS token enables the allocation of funds into top 20 altcoins and US Treasuries further increasing potential yield and highlighting the strategy’s adaptability under all market conditions.Midas is thrilled to announce the launch of mBASIS, a tokenized delta neutral basis trading strategy [https://blog.midas.app/content/images/2024/08/btc-usdt.904b658331a1b8a6d896.png]Midas is thrilled to announce the launch of mBASIS, a tokenized delta neutral basis trading strategy [https://blog.midas.app/content/images/2024/08/btc-funding-fin.6a1776b20fc31b8290b4.png]Midas is thrilled to announce the launch of mBASIS, a tokenized delta neutral basis trading strategy [https://blog.midas.app/content/images/2024/08/altcoin-funding-fin.471940f8e1f886ff4669.png]Midas’s institutional-grade tokenization offering * Professional Asset Management: Assets invested in mBASIS are managed by a licensed asset manager with client fiduciary duties, exceeding current industry practices. * Active Management: The strategy dynamically adjusts between the most attractive basis positions and US T-Bills across market cycles * Transparent and Verified Reporting: The investment portfolio and its performance are prepared by an independent regulated fund administrator * Bankruptcy Protection: Client assets are held in a bankruptcy protected SPV. In the unlikely event of a default, a security agent distributes assets to creditors.USE CASES * Treasury management: Invest assets in mBASIS as a treasury management solution and accumulate capital. * Borrow/lend: mBASIS can be used as yielding collateral in DeFi money markets to further enhance returns across the strategy. * Transact: As a permissionless ERC-20 token, users are free to engage in a wide range of onchain use cases and can transact peer-to-peer.BACKGROUNDThe basis tradeThe basis trade involves the arbitrage of the price difference between the spot and perpetual futures markets. The strategy is composed of a spot-long position (e.g., BTC) and the sale of an equivalent amount into the perpetual futures market (short position). This locks the difference between the spot and futures prices, or the basis, as profit. This approach ensures regular earnings from positive funding rates paid by long traders and shields the principal from market price fluctuations by balancing long and short positions.Crypto market cyclesCrypto markets are cyclical, often influenced by significant events like a Bitcoin halving. These halving events contract the supply, leading to sharp price increases. Significant retail participation further drives up prices, reinforcing this trend.Midas is thrilled to announce the launch of mBASIS, a tokenized delta neutral basis trading strategy [https://blog.midas.app/content/images/2024/08/btc-halving.f5644529ae9a4dc6f09e.png]The periods following Bitcoin halving events are historically associated with significant positive price action, which presents an opportunity for basis trades to harvest funding rates.Market CycleStart PriceEnd PriceImplied Price AppreciationTime Period2012-2013~$2.00~$13.00~550%Late 2011 to early 20132013-2014$135.30$350.93159%Early 2014 to early 20152016-2017$350.51$650.9686%Late 2014 to mid-20162018-2020$6,955.27$29,001.72317%Early 2018 to mid-2020ABOUT MIDASMidas is an asset tokenization protocol bringing regulatory-compliant exposure to institutional-grade assets onchain, unlocking DeFi composability for real-world assets (RWA).Tokenizing securities in a compliant manner is complex, requiring deep legal expertise and iterative development. Each Midas-issued token represents a bold step forward, merging the reliability of traditional financial instruments with the efficiency and accessibility of DeFi.For additional details on the mBASIS token or to explore investment possibilities with Midas, please visit https://midas.app/ [https://midas.app/?ref=blog.midas.app].FUNDING ROUNDMidas is backed by the leading investors in the RWA space as BlockTower, alongside Framework Ventures and HV Capital co-lead its recent $8.75 funding round.The round also saw participation from Cathay Ledger, 6th Man Ventures, Coinbase Ventures, Hack VC, GSR, Lattice Capital, Phaedrus, Theia Blockchain, Pareto, Axelar Foundation, Peer VC and FJ Labs.DISCLOSUREThe mBASIS token is not available to US persons and entities, or those from sanctioned jurisdictions. The minimum investment amount is EUR 100,000. Certain investors, such as Qualified Investors, may be able to invest at lower minimum amounts.For more information on Midas and the mBASIS token, navigate tohttps://midas.app [https://midas.app/?ref=blog.midas.app], or contact us via team@midas.app. For a technical deep dive, visit our documentation athttps://docs.midas.app [https://docs.midas.app/?ref=blog.midas.app].

In decentralized finance’s (DeFi) ever-evolving landscape, finding innovative ways to secure and enhance yields remains a top priority for savvy investors. That’s why we at Midas, in collaboration with LeadBlock Partners, are thrilled to unveil the mTBILL/USDC lending market and LeadBlock-managed USDC RWA MetaMorpho vault on Morpho Blue.The mTBILL/USDC market is a strategic approach to leveraging U.S. Treasury Bills for enhanced yields. Managed by LeadBlock, the USDC RWA MetaMorpho Vault enables users to put their USDC to work, earning the risk-free rate of return alongside DeFi yield.This introduction of a yield-bearing stablecoin into a top decentralised money market grants lower and more consistent stablecoin lending rates, while offering a medium for capital-efficient borrowing.INTRODUCING MORPHO BLUEMorpho Blue blends traditional finance principles with cutting-edge innovation. Its isolated money markets enable verified, overcollateralized mTBILL suppliers to confidently borrow USDC. The unique design also facilitates exceptional lending rate splits, offering users a competitive loan-to-value (LTV) ratio within a stable, dollar-denominated environment.Further, Morpho Blue paves the way for the seamless creation of MetaMorpho Vaults, which are directly integrated with Morpho Blue lending markets. These vaults consolidate various USDC-utilizing markets (or markets with the same loan token) into a curated, risk-managed yield strategy.Instead of juggling multiple positions, Morpho users can earn passive income by depositing idle USDC into the LeadBlock USDC RWA Vault, accessing both U.S. Treasury and DeFi-sourced yields.WHY WE CHOSE MORPHO * High LTV Lending: Morpho enables Midas users to collateralize mTBILL for USDC loans at over 90% LTV, offering the most stable rates available in DeFi. * Enhanced Yield: For those looking to maximize their USDC’s potential, Morpho presents a risk-managed pathway to an enhanced yield, backed by a regulatory-compliant, yield-bearing token in mTBILL. * Top-Notch Security: With measures like Liquidation Loan-to-Value (LLTV), adaptive interest rate models, and market selection for risk management, users enjoy a secure investment environment.WHO CAN INVEST?While the mTBILL token is only available to verified Midas users outside the U.S., the LeadBlock USDC RWA MetaMorpho vault is available to all Morpho users and USDC holders.KEEN TO LEARN MORE?This announcement only scratches the surface of what we're offering. If you're intrigued by the potential of this pioneering venture and wish to explore how it can benefit your investment strategy, don’t hesitate to reach out! Contact us at: https://midas.app/To check out the new vault, visit: https://app.morpho.org/vault?vault=0x4cA0E178c94f039d7F202E09d8d1a655Ed3fb6b6 [https://app.morpho.org/vault?vault=0x4cA0E178c94f039d7F202E09d8d1a655Ed3fb6b6&ref=blog.midas.app]For more information on Midas and the mTBILL token, navigate tohttps://midas.app/ [https://midas.app/?ref=blog.midas.app], or contact us via team@midas.app. For a technical deep dive, visit our documentation athttps://midas-docs.gitbook.io/midas-docs [https://midas-docs.gitbook.io/midas-docs?ref=blog.midas.app].

Midas announces an $8.75 million funding round, led by visionary firms Framework Ventures, BlockTower and HV Capital.