Midas is a tokenized asset issuer that seamlessly integrates real-world securities and onchain structured products. The Midas flagship product, mTBILL, offers onchain exposure to short-duration U.S. Treasury Bills, providing a stable, low-risk yield for holders. Midas’s mission is to democratize access to high-quality financial products by leveraging the power of blockchain technology, ensuring transparency, security, and compliance with regulatory standards.

Midas products are designed to meet the rigors of institutional-grade finance. This means ensuring that all products achieve bankruptcy-remoteness, are fully compliant with European securities regulations, and are freely transferable and composable within the DeFi ecosystem. Midas’s vision is to bridge the gap between traditional finance and decentralized finance, making secure, stable investments accessible to all.

Legal Name: Midas Software GmbH

Counterparty Type: Tokenized Money Market Product

Entity Type: GmbH

Year Founded: 2023 

Restricted Jurisdictions: China and other sanctioned jurisdictions 

Issuer Jurisdictions: Germany

Tokenized Asset Ticker: mTBILL

Service Providers: Blackrock, Ankura Trust Company, Securitize,
Bank of New York Mellon, BNYM, Maerki Baumann, Fireblocks, Dfns, Gnosis Safe, Capital Union Bank, Coinbase, Flowdesk, GSR, Wintermute, Compliance Labs Liechtenstein, Lukka (ex Coinfirm), Chainalysis, Chronicle Labs

Blockchain Networks: Ethereum Mainnet, Base, Oasis Sapphire
Tokenized Asset Contract Address(es): Ethereum - 0xdd629e5241cbc5919847783e6c96b2de4754e438, Base - 0xDD629E5241CbC5919847783e6C96B2De4754e438

Token Standard: ERC-20

Subscription/Redemption (Mint/Redeem) Permissions: Eligible investors (individuals or entities) can acquire tokens through the primary market on midas.app. This excludes investors from the US, UK, China and sanctioned countries. When visiting the Midas website, the investor's IP address is automatically screened to determine his region. If the IP is identified as originating from a restricted region, access to the website is blocked. This process also includes restrictions for users attempting to access the website via VPNs. In addition to IP screening, Midas implemented wallet screening during the wallet connection process to detect and block suspicious wallets from interacting with the platform. If a wallet is flagged as suspicious, the system will automatically disconnect it, preventing access to any wallet-related functionalities. Before acquiring tokens, investors must review and accept the terms and conditions, which state that investors from prohibited jurisdictions are not allowed to participate in any transactions.

Liquidity: User-determined, on demand

Secondary Market Permissions: Not Permissioned

Underlying Instruments: US-Treasury Bills with 3-month maturity (or less)

Mechanics of Token Value Accrual: Price Appreciation

Integrations: Both Morpho and Euler as accepted collateral, additional integrations to come. More info:  https://docs.midas.app/resources/lending-protocol-integrations 

Standard Fees: Performance fee is 10%, Redemption fee is 0.07%

Other Expenses: None

Risk Assessments: https://docs.midas.app/resources/audits