/ Midas Ecosystem

Midas Gold Layered Farming Model

To continue to bring Midas Gold to the next level, we have decided to adopt layered farming model with strategically unique improvements. On one hand, we will allow $MDG holders to join new farming pools continuously (on a weekly basis). On the other, we persistently pursue the original goal that is to make $MDG the only currency benefiting from Midas economy.

To do so, we will issue a family of $MDG tokens (denoted $MDG-N), named $MDG-2 (gold 99%), $MDG-3 (gold 99.9%), $MDG-4 (gold 99.99%), etc. The original $MDG tokens will be distributed in the form of $MDG-N tokens.

Detailed plan will be as follows:

  1. Create a new layer every 7-10 days (to be confirmed based on Midas proprietary tuning models). Layer-N is represented by new token $MDG-N, separate farming pools made up of $MDG-N, $MDG-(N-1), $MDO and widely-used tokens like WBNB, BTCB, CAKE, etc…

  2. Each layer will run in 10 weeks. In the first week, the amount of $MDG-N rewards for each block is set to 0.1 and reduces 25% every week, except 50% for week 5 (time to start unlocking). The similar rate applying on the mainstream pools of the original $MDG token remains 2.5% as designed.

  3. In layers, 50% of rewards will be transferred immediately, the remaining 50% will be locked until the end of the 4th week and distributed gradually over the next 6 weeks.

  4. Max supply of each $MDG-2, $MDG-3, … is limited to 80,000 tokens.

  5. On week 9, the one-way ($MDG-N to $MDG) bridge is opened. When the price of $MDG-N is less than the price of $MDG, users can convert $MDG-N to $MDG at market prices (i.e. suppose price of $MDG-N is $500, $MDG is $1000, then 2 $MDG-N are converted to 1 $MDG). In the opposite case, when $MDG-N is more expensive than $MDG, conversion rate 1:1 is used. The bridge closes after 4 weeks.

  6. Each $MDG-N minted will create 1 $MDG to the bridge. After the bridge closed, 50% of excess $MDG in the bridge will be burned, 30% will be distributed to providers of MDG-based liquidity pools, 20% will be sent to the Reserve Fund.

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Midas Gold Layered Farming Model
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