Discover and read the best of Twitter Threads about #MidasInvestments
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Another CeFi platform #Midas Investments @Midas_platform is shutting down with a $63.3 million hole in the balance sheet.
blog.midas.investments/midas-closure-…
Read the full thread about what happened:
#MidasInvestments
blog.midas.investments/midas-closure-…
Read the full thread about what happened:
#MidasInvestments
1. Midas Investments launched in 2021 as a Ce(De)Fi app that delivers a fixed yield on cryptocurrencies.
It was one of the few products that delivered a very high yield on BTC, ETH, and stablecoins.
BTC - 17% APY
ETH - 23% APY
USDT/USDC - 19% APY
It was one of the few products that delivered a very high yield on BTC, ETH, and stablecoins.
BTC - 17% APY
ETH - 23% APY
USDT/USDC - 19% APY
2. The problem with such CeFi fixed yield products is transparency. As a user, you never know where the yield is coming from
According to the founder, the source of the Midas yield was the "Algo" and DeFi
There is not much info on the Algo apart from that it's "trending"
According to the founder, the source of the Midas yield was the "Algo" and DeFi
There is not much info on the Algo apart from that it's "trending"
