/ Midas Ecosystem

Midas Gold Layered Farming Model

Midas-Gold-layer-farming
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…
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  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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