MidasDAO is barely an automated treasury growth protocol with a steady flow of revenues from Yield farming, P2E, and Metaverse Upgradable Yield Bearing NFTs that reward its holders. The project launched on 4th December last year, and it has since held its name; however, now it looks to be on the verge of rebranding into Midas.Finance.
CROWN, is a decentralized ‘reserve’ currency that is based on the POL and bonding concept put in place by Olympus DAO. In CROW’s case, a community gets formed when everyone bonds the underlying assets into one reserve currency to create a strong “bonding” for the community as a whole.
MidasDAO (CROWN) Explained
Ideally, the CROWN token is supported by some assets (MIM, CROWN-MIM LP, and many others) and those acquired during the 2nd stage of the project development, hence providing it a value that it can’t fall below.
Moreover, the Midas bond mechanism helps it own more liquidity, which enables it not to pay high farming rewards when incentivizing liquidity providers. Furthermore, it guarantees that liquidity will always be there to enhance the sell or buy transaction.
MidasDAO Developments
The project development takes place in different phases;
Stage 1
Token generation event as well as Network launch
Stage 2A
Holding stable coins to support tokens creates the yield generation opportunity, which means locking stable coins away in the treasury is just a waste. For maximum yield generation, the stablecoins are used to acquire a considerable amount of interest-bearing tokens, such as nICE and sPELL.
Stage 2B
This stage involves diversifying the treasury portfolio with Metaverse as well as the P2E blue-chip assets that include tokens, passive and productive NFTs.
Stage 3
It involves starting the MidasDAO-owned P2E project and will benefit CROWN holders by offering an extra source of revenue from the in-game operations.
Nevertheless, a lot has taken place recently in the MidasDAO space as it looks to rebrand itself;
New Dapp Release
Despite having several problems during the release, some of those issues have been fixed, optimized, and improved in the new Dapp. In fact, several things have been done to ensure that the released Dapp has limited or near-zero problems.
The new Dapp has several fundamental benefits, including;
- Automated multi-language support.
- Providing a platform fully responsive, desktop and mobile-friendly, and highly user-friendly.
- Future flexibility in platform development.
The entire process is not yet complete, given that there are still some issues that should be fixed, but they’re constantly being monitored and improved.
THRONE Node Launch
Like the New Dapp release, the node launch too was relatively successful; however, some aspects required attention, especially after looking at the effects of the automated burn and LP during mint. Deploying new contracts is not an option to change it, but what’s required is coming up with a contract that will mirror the mints and reflect all of them in similar amounts. Therefore, those are on the way irrespective of the fact that daily limits are introduced or not.
Despite only being the beginning, the community has minted over 7800 nodes and burned about 60% of the previous total supply despite only being the beginning. That shows immense success within a very short period. Unfortunately, some still have problems, like having minted nodes without an image or even a name. The good news is that, still, the process is in development, and those that have created those nodes will easily fix it with the new feature that’ll allow changing your color or name.
Therefore, going forward, there’s a lot to look up to, such as additional THRONE node tiers, a feature that will let you upgrade the THRONE nodes to higher tiers, limited THRONE node editions, and a feature that allows you to change your name as well as the color of nodes.
Basic Strategies
When it comes to MidasDAO, there are two strategies for market participants; bonding and staking. Stakers simply stake CROWN tokens and, in return, get more CROWN tokens. On the other hand, Minters give LP or MIM tokens against discounted CROWN tokens – after an already determined vesting time.
Stakers benefit from the supply growth – the protocol mints the new CROWN tokens from the treasury, most of which are distributed to stakers. Therefore, stakers’ gain comes from auto-compounding balances, with price exposure being a significant consideration. Meaning an increase in token balance is more than the potential drop in the price. Stakers make a profit.
Minters also have got their benefit coming from price consistency. They commit some capital upfront and then get promised a fixed return at a specific time with a return in CROWN, meaning their profit depends on the CROWN price whenever the bond matures. So ideally, they benefit from the static or rising CROWN price.
New Things!
The new domain and main page are underway, with work on the new website taking shape, which will mark the start of rebranding MidasDAO to Midas Finance. Therefore, holders should expect some sneak updates in the coming days.
Where to Buy CROWN Token
The good news is that CROWN has slowly but steadily gained momentum and now lists on a plethora of crypto exchanges. However, CROWN can’t be purchased directly with fiat money, unlike most cryptocurrencies. Instead, you can purchase it by buying ETH, Bitcoin, USDT, BNB, first from an exchange, then transfer to an exchange that offers CROWN trading.
The significant thing is to choose your best exchange by considering security, ease-of-use, fees and commissions, and regulations.