Midas Gold — another DeFi product after Midas Dollar was added to the DeFi ecosystem, created by Midas Protocol. The Midas Gold incentive plan on the Binance Smart Universe was created to reward Midas Economy stakeholders such as Mi-Vault, Mi-Dex.
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Description of the Midas Gold project
At the first stage of Midas Gold, the project creators have focused on developing such elements: MDG yield, Launchpools, creating an automated market. The Midas DEFI Roadmap will have more information on the high synergy between DEFI products and existing ecosystems.
Emission level: 0.2 MDG / block in the first week. Afterwards, decrease 2.5% every week. As part of the launch of the gold processing plant on March 20, 2021, the emission level is reduced from 0.195 to 0.1 per block. Then continue to cut 2.5% per week from that adjusted rate until the end of the USD MDG. Reward blocking: in the first 10 days (up to block 5671000) 75% of the rewards will be blocked and 2.5% will be paid every day from the 11th to the 50th day (from block 5671000 to block 6823000).
The developers believe that Midas Gold's sustainable model can be achieved through the following restructuring:
| 1 | Each tier, including the main level ($ MDG), the second level ($ MDG2) and the following levels (level N), will only run for 8 weeks. |
| 2 | After the completion of the main level, new MDG tokens appear only through the conversion bridge. |
| 3 | For the main level, Loyalty Locker and Mdg Locker remain on schedule. |
After more than two weeks of release, Midas Gold has issued a total of 100,000 MDG tokens, of which 61,000 are available and 9,000 are in the Reserve Fund. Market capitalization reached $ 8 million. In addition to the main level ($ MDG), the second level ($ MDG2) has also started successfully.
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