Midas Capital is expanding its ecosystem to Polygon to democratize isolated money markets for users, DAOs, and protocols.
As Midas integrates with Polygon, protocols in the ecosystem will be able to create customizable and isolated money markets for all assets and asset types. Through these pools, users will be able to deposit their crypto assets to lend, collateralize, and borrow against. With Midas’ customizability, protocols can build pools with diversified use cases and customizable pool parameters, where users can earn interest on their deposits, participate in longing/shorting currencies, leverage liquid-staked derivatives as collateral while earning staking yields, and even participate in auto-hedge strategies. With an isolated pool model, extensive customizability, and unique use cases, Midas surpasses existing money market solutions in the Polygon ecosystem, both in terms of uniqueness and offerings.
The integration with Polygon will be extremely helpful to scale Midas’ vision of becoming a multi-chain protocol and democratizing money markets for everyone. Polygon’s vast ecosystem contains many prominent and established projects, which can have their own pools on Midas to offer users novel earning opportunities. Midas enables these projects to create customized pools, where they are in control of the pool parameters, including supported assets, interest rate curves, oracles, collateral factors, and pool fees.
The platform also leverages the new ERC-4626 standard, which is a standard API for tokenized yield-bearing vaults. The standard reduces the integration effort between different protocols, and projects can seamlessly unlock access to yield in various applications seamlessly.
Easier integrations and a standardized process bring better opportunities for users, protocols, and DAOs to put their assets to use. Furthermore, the platform uses isolated pools rather than the traditional single-cross collateral pools offered by major DeFi providers. With the isolated pool model, pools run in standalone environments with different parameters and supported assets. The isolated pool model offers an added layer of security, isolating the risk(s) to only the single affected pool, and does not risk the whole TVL. This helps users participate in Midas with added peace of mind.
Moreover, projects that wish to provide multi-chain and isolated money markets to their users can utilize the Midas SDK. The SDK is a chain-agnostic toolkit assisting developers in managing, creating, and interacting with Midas pools. The SDK can be seamlessly integrated into any front end, enabling projects to access all features offered by Midas in their platform itself. These include managing and creating money markets, enabling deposits, lending, borrowing, and repaying of funds, and adding liquidity mining campaigns to pools. While users directly interact with the front end, the back end interacts with Midas, unbeknownst to the user.
While many new pools of Polygon projects will be added to Midas, users, protocols, and DAOs can get started with the Jarvis Network jFIAT pool. Pool participants can collateralize a variety of assets, including JCAD, JEUR, JGBP, and JAUD, and borrow supported assets.
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About Midas Capital
Midas Capital is bringing isolated and customizable money markets to EVM-compatible blockchains. Enabling users, DAOs, and protocols to create customized and isolated pools for lending and borrowing any asset, Midas is building a cross-chain ecosystem that democratizes money markets. Pool creators have the flexibility to modify pool parameters (interest rate curves, oracles, collateral factors, pool fee, etc.) according to their risk appetite. With isolated pools, Midas offers stellar features for large-scale institutions, protocols, and traditional investors.