Delisting Several Assets from Midas platform

Given the fading interest in several assets offered by Midas.Investments and costs associated with those offerings, we are delisting 6 tokens from our platform (with a collective market value of less than 0,5% of Midas TVL). 

Midas’ investment team has weighed the costs versus the benefits. The tokens have become too resource-intensive for our team while not generating sustainable yields for investors to remain viable options. 

List of tokens being delisted:

  • JOE 
  • LTC 
  • ATOM
  • SPELL 
  • CELO 

Important Dates Leading Up to the Delistings

Today, 29th June, Midas has suspended the ability for users to swap to, and deposit to these tokens. Users may still swap out and withdraw. 

On 13th July 2022 (2 weeks from today), Midas will make final payouts on each of these assets (until then, users will still collect daily payouts). At the same time, these assets will be removed from the asset table on the Midas platform.

On 30th August 2022, the asset cards for these tokens will be removed from the user interface, and any remaining balances of these tokens held by users will be automatically swapped to USDC based on the prevailing market rate. We encourage all users to be proactive in withdrawing or swapping out these tokens before 30th August 2022 if it’s not a user’s desire for these tokens to be swapped to USDC.

Future Prospects

Midas.Investments is preparing to launch a host of new investment strategies on our platform which will not only replace these tokens but allow for investors to further diversify their portfolios. These new strategies will offer unique investment opportunities for Midas investors, the likes of which have not been seen on any CeFi platform. Keep your eyes peeled over the next few weeks!

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