Midas, a protocol to issue performance tokens backed by US Treasury Bonds. And other assets, has introduced liquid performance tokens (LYT) linked to decentralized finance funds (defi) actively administered, starting with Edge Capital, Re7 Capital and Mev Capital and Mev Capital.
At the end of last year, Midas received the regulatory approval to issue its basic and treasure tokens of the United States in Liechtenstein, allowing the passport in Germany and Europe.
The tokenization builders in the native crypto and defendant sand saw the need for performance alternatives to the stables established such as the USDT USDT of Tether and the USDC of Circle, which maintain the interest generated by the reserves.
Additions to the MIDAS products suite reflect the changing conditions of the market. For example, the company’s T-Bill product of the company was introduced, based on a Blackrock Mondary Mercado Fund, when interest rates were around 5% and Defi markets were much lower, around 2% .
The subsequent incorporation of a commercial and effective timbre token delivered last year of more than 20%, however, market trends are reversing, said the CEO of Midas, Dennis Dinkelmeyer. The new Lyt product points to yields of up to 20%, he said.
“We have partnered with the best in the industry, such as Edge Capital, Re7 Capital and Mev Capital, with more excellent names soon,” Dinkelmeyer said in an interview. “These fund managers are really expert in regards to performance, either with T-Bills, basic operations or other performance sources such as market creation and arbitration.”
The MIDAS Tokenization Platform allows a broad exposure of the audience to these tokens with a single click problem and redeem the process, Dinkelmeyer said. “In addition, tokens can be used as guarantees in Defi, starting with Euler and Morpho with more to follow.”
