A new trend from the crypto industry has emerged with growing efforts from various key industry players: crossing chains. We observe many initiatives in the marketplace today ranging from: wrapping coins from one chain to another (e.g. BTC to WBTC on Ethereum), crosschain decentralized exchange like UniDex (www.unidex.market) with chain bridges, on chain swap, crosschain swap. Some widely used stablecoins like USDT have been deployed on multiple chains. Users now can use USDT Omni, USDT ERC20 on Ethereum, USDT TRC20 on Tron, USDTM on Mcashchain for exactly the same utility - but on different chains.
$MAS, the token of Midas Protocol, from the time of our ICO was issued on Ethereum as ERC20, which has limited utility due to relatively low speed and high gas fees. The effort to bring growth to $MAS has been relentless with the double burning process that has burned to date more than 130M of $MAS (burn.midas.eco, nearly half of $MAS circulation supply). Yet, we are striving to increase further the utility of $MAS through multiple dapps, bapps and platforms by a new initiative that we call Project XMAS.
So what is XMAS?
We will create multiple wrapping processes on the UniDex bridge so that $MAS (as ERC20 token) can be wrapped into $MAS-M1 (on Mcashchain), $MAS-TRC20 (on Tron) etc. $MAS supply will remain the same. Yet, $MAS utility will improve greatly. $MAS, $MAS-M1, $MAS-TRC20… will be able to be swapped back and forth, as and when users need, instantly on UniDex.
Then, $MAS-M1 on Mcashchain will be deployed to be used on Midashimaya, Midas Touch, Masbid, Maslott, Multicoin Gaming Center, MPawn, Vinex Lending, Tokenbot AI and more. At the same time, $MAS-TRC20 will be listed on Poloni Dex (https://m.poloniex.org/#/index) and used on multiple dapps/bapps on Tron blockchain.
On one hand, depending on the growth of different blockchains, we can decide which will be the next bridge to build. Together with the growth of UniDex - the 3 in 1 crosschain Dex, developed by Midas Protocol, we can bring $MAS to the multiverse of Blockchain. The next several blockchains may be Klaytn, Tomochain etc.
On the other hand, this project will help Midas to perfect the multiple bridges on UniDex, opening the door for other tokens of our partners to follow. $TVND from our partner True VND (www.truevnd.com) has already got on board and $TVND will be the first to follow through the bridges and become available on multiple blockchains, moving to the age of Crypto commerce and blockchain based applications.
With UniDex multiple bridges, $MAS will blossom in XMAS. Being the base token of Vinex Network exchange for trading fees and Midas Pro subscription fees, the new wave of utilities which XMAS project will create for $MAS and for our bridging partners will be huge. Let’s witness the growth of Midas Ecosystem and the value of $MAS in a very bright future.
We trust in Crypto, we grow in Midas, here comes XMAS!
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