What it means for the project and how to get involved.
“Lock-In V2.0 takes the momentum that V1.0 brought to the project and supercharges it. Now offering three “tiers” – Lock-In 2.0 is what will bring MIDAS to new highs.”
Many of you in the Midas community probably remember the release of Midas Lock-in V1.0. First launched with a lock-in requirement of 150 MIDAS coins, this was increased to 350 coins back in June of 2019. This feature was initially developed as a solution to increasing fees for Masternode owners who used the Midas platform. Though discounts could be paid in MIDAS coin, users who “locked in” a number of coins would receive free hosting on the platform as long as the lock in share remained untouched. Aside from its obvious benefits to investors, this feature benefitted the project as well in two ways:
- Increased demand for MIDAS coins
- Burning coin emissions
All rewards generated by Lock In shares were designated to be burned – significantly curbing the coin emission rate in circulation. This feature was the first of its kind, and had a significant economic impact on the coin price.
The price of MIDAS at the time that Lock-In collateral was increased to 350 (June 2019) was only about $25. The price continued to decline (along with the entire crypto market at the time), reaching a low of $10 in July 2019. Since then, Midas has been on a long term epic bull run, as you can see from the chart above – reaching a price high of $176. This represents a whopping 1700%+ gain for investors who purchased at the market low.
This goes to illustrate that the lock in feature was a major added utility for the Midas platform and its users.
Lock-In V2.0 takes the momentum that V1.0 brought to the project and supercharges it. Now offering three “tiers” – Lock-In 2.0 is what will bring MIDAS to new highs.
V2.0 of the feature includes three separate tiers that users can invest in: Gold, Platinum, and Diamond. These tiers require 350, 850 and 1250 coins, respectively. Though it requires a sizable investment to become a Diamond member, the perks are quite enticing: no Masternode fees, Index fees, withdrawal fees, and interest rates unparalleled anywhere else in the market.
The original Bitcoin share offered 15% APY on Bitcoin deposits, but now Diamond members can earn up to 16% on their BTC deposits by locking in 1250 Midas!
For reference, the “Earn” tab on CoinGecko shows that the next highest competitor (Nexo) only offers 5% APY on Bitcoin deposits.
This means that Diamond members earn over 3x the return they get anywhere else on their BTC!
Even “Basic” Midas users (who do not use Lock-In at all) earn 6% on BTC – making Midas the most profitable platform anywhere.
Lock-In V2.0 is the latest groundbreaking feature to be released by the Midas team, and if you watched the AMA session with Trevor, you know that THE BEST IS YET TO COME!
Keep watch for more articles on maximizing your MIDAS income, AMA recap, BTC Weekly TA, and a deep dive on Midas’ new roadmap!