Midas.Investments CeDeFi protocol explains its decision to migrate its native token to Ethereum (ETH)
- Midas.Investments CeDeFi platform token migrates to Ethereum (ETH)
- The mobile application will be launched in the first quarter of 2023
Midas.Investments (MIDAS), a new generation multi-currency farming machine, shares details of its migration to Ethereum (ETH) and reveals its plans for the future.
Midas.Investments CeDeFi platform token migrates to Ethereum (ETH)
According to the official statement released by his team, Midas.Investmentsa multi-product crop growing ecosystem, has migrated its main native asset MIDAS to Ethereum (ETH) from Fantom (FTM).
Hello Midas Community!
— Midas.Investments (@Midas_platform) November 9, 2022
Previously, the token ran on Fantom (FTM), an EVM compatible blockchain. With the transition to Ethereum (ETH), the Midas.Investments team has focused on integrating their design into a more robust and prosperous DeFi platform.
This, in turn, will allow Midas.Investments clients to access the largest liquidity ecosystem on Web3, maximize their MIDAS token, and interact with various dApps on Ethereum (ETH).
Midas CEO and founder Yakov Levin is excited about how this migration could impact the stability and interoperability of his protocol:
Given the active development of the Ethereum ecosystem, including the increase in the number of decentralized applications and the attraction of users and developers, our team decided to migrate MIDAS from Fantom to Ethereum. This migration will open up new opportunities for the further development of the $MIDAS token in the DeFi ecosystem, further expanding its usefulness.
Thus, the main Midas.Investments MIDAS token was replaced with the Ethereum-based ERC-20 asset of the same name.
The mobile application will be launched in the first quarter of 2023
In addition to technical advances, the new announcement will maximize the rewards for MIDAS token holders by increasing the liquidity flow to its mechanisms.
Following this release, the Midas.Investments team is set to introduce new products under its umbrella, including the Decentralized Finance (DeFi) protocol.
In addition, MIDAS holders will present new strategies for CeDeFi pools and will have a say in approving new partnerships with the Web3 and Web2 projects.
In the first quarter of 2023, the Midas.Investments team will introduce its own mobile application for retail users.
$MIDAS Token Roadmap📍
Migration to the Ethereum blockchain…
Liquidity pools on UniSwap…
— Midas.Investments (@Midas_platform) November 17, 2022
By the fourth quarter of 2022, Midas.Investments and MIDAS tokens have crossed the 7,000 staker mark. In addition, its market capitalization is currently above the $100,000,000 mark. While the markets are still trapped in a painful recession, the net investment is over $70 million equivalent.