About Midas Finance

Origin

We all know and love Tomb.finance, but let's be honest. That ship has long sailed and the majority of the gains have already been made.It's also not a secret that tomb.finance had some faults and imperfections right from the start, that required outside intervention to be rescued.A testament to those imperfections are also the numerous tomb forks that pop-up and die in 2-3 days. To mitigate those imperfections, our proposal is a new platform that will bypass known pitfalls and provide a long term source of income for the protocol believers. We will go through all these upgrades one by one.​

What is Midas Finance?

Midas is pegged to the price of 1 FTM via seigniorage and other mechanisms. Complementary to classical seigniorage mechanisms, Midas Finance uses an FTM investment fund to balance the price of Midas. The investments can be tracked in the DAO wallet . Midas Finance is also pioneering an in built casino.

What Is Seigniorage?

Seigniorage is the difference between the face value of money, such as a $10 bill or a quarter coin, and the cost to produce it. In other words, the economic cost of producing a currency within a given economy or country is lower than the actual exchange value, which generally accrues to governments who mint the money. If the seigniorage is positive, the government will make an economic profit; while a negative seigniorage will result in an economic loss.​

Midas Finance is not your typical tomb fork:

1. Built in casino (more information here)

2. Boardroom epochs will be 2h long!

3. Boardroom rewards are locked for 2 epochs - 4h !

4. Boardroom withdrawals are locked for 4 epochs - 8h!

5. Any interaction with the Boardroom (deposit, claim, withdraw) resets both timers !

6. Farming incentive rewards are expanded to 1.000 days (more rewards for more days)!