MDSIP01 — Midas Dollar Proposal 01: Setting up Midas Gold Commission

After one month from launch, Midas Dollar has achieved notable results 💪strong DAO Funds, ATH $58M TVL, not a single contraction after 100 epochs. In parallel, Midas Gold has been growing strongly. Our community is growing strong and our products are getting known in BSC in particular and DeFi space in general. The strong stability of Midas Gold could not be achieved without the help of MDO effect. With more than $160M locked across all pools on both Midas Dollar and Midas Gold, it is time we move to the next step - strengthening ties between the two projects.

📮 Proposal:
We would now like to seek the MDS governance community’s opinion on the plan below by voting Yes (agree) or No (don’t agree). The blockchain snapshot for voting rights will be only for $MDS holders.
We propose to set up Midas Gold Commission with the new structure of the MDS Boardroom.

🏛 Proposed Changes for Midas Shares Boardroom:

  1. MDO allocated to DAO funds at MDS Boardroom will be reduced from 25% to 22.5%
  2. MDO allocated to MDS boardroom members will be reduced from 75% to 70%
  3. 7.5% MDO allocation saved will be allocated to reward Midas Gold Commission.

👑 For Midas Gold Commission:

  1. The MDG holders can choose to stake their MDG in the Commission with the lock structure (6 days of MDG lock, 3 days of MDO rewards lock)
  2. Deposit fees of 4% applied to Commission Stakers. These fees will be used to buy back MDO.
  3. No withdrawal fees (out of Commission) during MDO expansion.
  4. 4%withdrawal fees (out of Commission) during MDO contraction to buy back MDO to burn.

Note: (Currently, 25% of the 10% additionally minted MDG in the MDG DAO reserve is used to buy back MDO to burn and to re-incentivise pools).

With this, we will help to stabilize the whole Midas Defi system, strengthen further the long term earning to all Midasians including MDG and MDS holders. MDG holders who choose to stake in the Midas Gold Commision will receive MDO stable income and MDS holders will enjoy higher stability and stable income stream from Midas Shares Boardroom as MDO will be bought and burned more from the MDG side. MDG and MDS hence can grow together hand in hand.

Voting page with timeline:

To all MDS holders, please make your voice heard. Vote now!

More about Midas Dollar:

MDSIP01 — Midas Dollar Proposal 01: Setting up Midas Gold Commission
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