Summary Points
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Integration with Etherlink: Midas is enhancing its platform by integrating with Etherlink to develop accessible financial infrastructure, focusing on compliance and composable yield products.
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New Product Launches: Two new yield strategies, mMEV and mRe7YIELD, have been introduced, expanding opportunities for institutional investments through tokenized formats.
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Growing Total Value Locked: Although Midas reports a Total Value Locked (TVL) of nearly $350 million, data from DefiLlama suggests it is closer to $190 million, highlighting discrepancies in ecosystem metrics.
- Etherlink’s Role: Etherlink serves as a scalable, EVM-compatible non-custodial blockchain, facilitating efficient, on-chain structured finance, and contributing to Midas’ growth in DeFi.
Tokenized Assets Arrive on Tezos L2 as Midas Joins Etherlink
Midas has launched its asset tokenization platform on Etherlink, marking a significant milestone for decentralized finance. This collaboration enhances accessibility to financial systems by ensuring compliance and offering innovative yield products.
The Etherlink platform, built on Tezos Smart Rollups, supports various applications like collateralized lending and risk tranching. Midas focuses on creating transparent and secure structures for investors through tokenized formats. Recently, it introduced two new products: mMEV, which follows a yield strategy from MEV Capital, and mRe7YIELD, linked to Re7 Capital’s DeFi yield strategies.
At the time of reporting, Midas’ Total Value Locked (TVL) stood at nearly $350 million, although data from DefiLlama indicated approximately $190 million. The discrepancy underscores the dynamic nature of the DeFi landscape.
Etherlink proves to be a robust infrastructure as it offers an Ethereum Virtual Machine (EVM)-compatible solution. This non-custodial blockchain provides developers with lower transaction costs and faster confirmation times. "Etherlink offers the scalability and composability needed to bring structured, compliant strategies fully on-chain," said Dennis Dinkelmeyer, Midas’ CEO.
David Relkin, from Nomadic Labs, expressed optimism about this advancement. He views it as a crucial development in transitioning wholesale finance on-chain. Indeed, the blockchain has experienced remarkable growth, increasing its TVL from $1.45 million to over $45 million in just a few months, according to DefiLlama.
Etherlink’s versatility extends beyond tokenized assets. It also supports gaming, NFTs, and cross-chain liquidity, thanks to bridges like LayerZero and Bifröst. As the technology evolves, more robust financial solutions will likely emerge, empowering more users in the decentralized finance space.
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