by Dan Carson — Partnership Development Lead, Midas.Investments
I’ll take you back to January 2018 — Bitcoin had recently peaked to new heights, altcoins were in full swing looking like they would never come down, and the Midas concept was taking its early steps of infancy. Yes, it has been ten months (at the time of publishing) since Midas exploded onto the scene.
Let me bring you back in to the current day. After what has felt like a long dark crypto winter, through which you’d wished you had hibernated, the markets are now taking on a more positive tone. Historically, it is during bear markets that exciting developments tend to occur, and here at Midas it is no different. We are looking forwards and upwards to a bright future.
Despite market sentiments over the past nine months not always remaining positive and FUD-after-FUD being reported in the media to quantify any negative market movements, Midas has been building. Innovating. Growing. Even as investors left the crypto space — at least for the short term — Midas experienced an ever increasing number of investors joining our vibrant community.
What makes Midas different? It is the ability to problem solve, think outside the box and resolve perceived weaknesses when others could not. Shortly after conception, Midas pioneered and introduced the ‘Instant Share’ shared masternode with reinvestment options — the older and wiser brother of the pooled masternode service. This innovative feature brought new investors in their thousands, and only ten weeks after Midas’ dawn, we could already boast a community size of 3000 members with 350 masternodes in operation.
Today, we quickly approach the debut of the Midas platform. Set to be the focal point of the Midas brand, the platform accompanied by new features will once again revolutionise the industry as we did ten months earlier. Along with well documented features such as regular automated payouts, scaled reinvest options and self-managed withdrawals and deposits, allowing for the full control of your investments, the platform is set to introduce new features making investment management faster, safer and more convenient.
Working alongside the Midas platform is set to be the Discord and Telegram bots. One-click buy and sell — called ‘BTC in — BTC out’ — as well as one-click movement of value between shares, immediate rewards liquidation to Bitcoin and airdrop management are just some of the initial features of the bots making investing with Midas incredibly hassle-free and simple. The platform, complimented by the revolutionary bot management systems will mark a new beginning for shared masternodes.
The second half of 2018 will be remembered as the period where the cryptosphere became serious. No longer will it be possible for projects with zero utility or a weak model multiply in price many times. From the ashes of 2018 will rise only the strongest projects with real-world use — where 2018 was the year of ROI, 2019 will be the year of utility. We have identified this and will only partner with projects that have potential for long term utility and success. The success for our investors and Midas will be born from the success our partnered projects. We believe this will go a long way to add much needed security to our investors funds, which is paramount to the Midas brand.
This rolls nicely into our close partnership with Know Your Developer. KYD verification will be encouraged for all projects partnered with Midas with an aim to build trust with the community. We select our partners carefully — our close partnership with Trittium allows Midas to work concurrently to achieve mirrored success for both parties. Trittium — who are revolutionising how loans are issued and backed — assist Midas on an infrastructural level, and our close ties will continue in to the distant future.
As I am sure our community is aware, we recently launched the Midas blockchain and MIDAS coin. October 4th 2018 will live long in the memory of the Midas team as the date the next major leap forward was taken. The MIDAS coin is essential to our future model and plans, and we have been overawed by the support shown to this coin. With the private and public sale quickly selling out, as well as consistently featuring in the top 10 volume coins on exchange, we appreciate our community sharing our vision.
The use of the MIDAS coin is tied closely to the functionality of the platform, but also our business model and how we will reward our investors. On top of being its own financial instrument, the ability to reduce service fees, being used in the listing of new projects, and the purchase of new services is just some of the utilities of the MIDAS coin that will evolve in time to become an fundamental element of the Midas ecosystem.
We are committed to the long term success of both the Midas brand and our community. To display our commitment to long term objectives we have introduced coin burning to our business model, making this integral to the long term success for Midas and community. Coin burning has already started, and we are committed to burn:
- 25% of profit received through the platform from service fees. The BTC equivalent will be purchased in MIDAS from exchange and consequently burned.
- 25% of income received in MIDAS from various income streams.
- 100% of PoS rewards received from pre-mine holding.
This coin burning model will eventually lead to the adoption of Proof-of-Consumption algorithm (PoCon), aimed at building a rewarding, but completely stable ecosystem. Mirroring how dividends are rewarded in traditional business models, PoCon algorithm issues rewards based on the profit of the business/service. Therefore, instead of PoS technology that inflates the coin supply, PoCon algorithm sees the supply fixed, profits burned in MIDAS and mirroring block rewarding these burned profits to masternode holders, thus keeping the supply and price stable, but ensuring masternode holders are rewarded. Introduced to Midas by our close partnership with Trittium, we believe this model has the potential to revolutionise the masternode space, and we are excited to be one of the first to adopt the concept.
Our exciting business model could only be possible with our experienced, and growing team. Started by Trevor (CEO) and Parker (CMO) earlier this year, Midas has quickly grown to employ eleven members of staff to support and push the Midas brand and service forward. In the coming weeks, we plan to open our team fully to our community allowing you to get to know us better.
From those early steps of infancy in January 2018, Midas has quickly revolutionised the shared masternode industry, and aided by our brand new platform with innovative management features as well as future plans and service ethos, we are building for a future where we continue to lead from the front and offering our investors the premium shared masternode service.