We are excited to announce the launch of MIDAS token on the Fantom blockchain. Based on the Fantom blockchain, Midas opens ourselves to the expected growth of the Fantom network, community and marketplace. The maximum supply of MIDAS token remains at 5,000,000 with a current circulating supply of 2,464,000. FLN and MIDAS coin are joining forces to create a singular asset for the Midas ecosystem.
How to swap Midas to Fantom blockchain
As of today, MIDAS and FLN coin will hold no value. Markets for the previous coins have been closed, but the swap is now open!
For MIDAS and FLN held on the Midas platform, you do not need to do anything else. Later today, your MIDAS and FLN will be swapped to the new MIDAS token. The old MIDAS and FLN coin share cards will no longer appear on your account on shown on the asset list, but will instead be replaced by the new MIDAS token share card. MIDAS will be swapped at a ratio of 1:1 and FLN at a ratio of 10:1 to reflect the closing marketcaps of both coins.
If you hold MIDAS and FLN outside of Midas platform, it is required for these to be deposited to your Midas account in order to complete the swap to the new MIDAS token. DO NOT deposit coins to the MIDAS share shown on the platform since this is for the new token and based on Fantom blockchain. Your coins will be unrecoverable. To deposit, access the old share cards through the following links:
For coins deposited we will complete the swap process each Friday for any new deposits received during the previous seven days. The deadline for swap support on deposits is 28th February 2022. Rewards on MIDAS and FLN coin have stopped but rewards will continue once swapped to MIDAS token.
Launching liquidity pools on SpiritSwap & BombSwap
MIDAS token has been launched with two MIDAS-FTM liquidity pools with a combined liquidity of $1.2m to give a strong platform for price support, market liquidity and future growth!
We have listened to user feedback! Many investors had previously wanted to invest in MIDAS, but felt the difficulty on liquidating their position could possibly be difficult and presented risks. With such strong liquidity pools, this concern is gone and provides enough liquidity for an exit on position if needed.
For launch, MIDAS will be supported by liquidity pools from two dexes based on the Fantom blockchain:
Further liquidity pools will follow in the coming months to increase the reach of MIDAS token and awareness of the Midas platform and service.
In addition to the two new liquidity pools, a new MIDAS/BTC market will be launched through Midas exchange and liquidity for the new MIDAS token added to InstantBuy for investors to purchase MIDAS token directly on Midas with BTC. Liquidity on Midas exchange and the price on InstantBuy will reflect the market value of the MIDAS-FTM liquidity pools.
What staking options are available
Rather than fixing emissions via block rewards as previously, emission rates will now be set via a smart contract, which will be reviewed on a six monthly basis to ensure the emission structure provides optimal results for investor performance and MIDAS growth.
Staking on Midas platform
Investors can expect a boosted APY between 30-32% supported by new tokenomics, upcoming utility and growth opportunities. Payouts will be made daily to your MIDAS share.
Farming options
On launch, MIDAS will offer outside farming options on the Bombswap platform utilising LP tokens generated on Bombswap. APY will be dependant on liquidity of the pool. As well as earning payouts, investors will also be incentivised by SHRAP, one of the native tokens of the Bombswap platform. Offering outside farm options will be important to increase outside awareness of MIDAS token and Midas’ service – further farms will be expected to be launched in the coming months.
Updates on platform listings
We are currently working with Coingecko and Coinmarketcap to update their databases to reflect the swap. Both platforms are expected to be updated soon, but both currently reflect market data from the old MIDAS and FLN data. Any price and market data generated from the new markets will not be shown on Coingecko and Coinmarketcap until their platforms have been updated.
Future utility of MIDAS
More exciting news to follow soon!
WELCOME TO THE NEW MIDAS
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