Midas

Introduction

Midas is a leader in asset tokenization, bringing real-world securities and structured products onto the blockchain. Midas offers two main products: mTBILL and mBASIS, which are secured credits designed to be bankruptcy remote and provide top-quality data reporting. These tokens are managed by top-tier asset managers, carefully selected for their experience, reliability, and dedication to protecting investors' interests, ensuring your investments are handled with care and expertise.

Products

mTBILL

It offers exposure to high-quality, short-dated US Treasury Bills managed by BlackRock. It is designed to be fully compliant with European Securities Laws, ensuring that it meets all regulatory requirements for security and investor protection. The current APY being offered is around 5.16%.

mBASIS

It provides exposure to a bankruptcy-protected vehicle that invests stablecoins into a Special Purpose Company (SPC). This SPC carries out a delta-neutral basis trading strategy, executed by a top-tier asset manager. Like mTBILL, mBASIS is fully compliant with European Securities Laws, adhering to the necessary legal and regulatory standards.

Aspect	Details
Registration	Midas mTBILL is issued under German law by Midas Software GmbH located in Berlin
Issuer License	---
KYC/AML Procedure	Yes
Availability for US Investors	No
Restricted Jurisdictions	Excludes the US, China, sanctioned countries, and individuals in the UK
Creation of SPV	Midas mTBILL is issued by Midas Software GmbH, structured as a special purpose vehicle (SPV) to ensure compliance with European Securities Regulation and Anti-Money Laundering law.
Restrictions on transfer of tokens	Midas tokens can be traded on the secondary market without needing verification, making them accessible outside of the platform.

Issuance & Redemption Process

Issuance Process:

• Midas Software GmbH is the tokenizing entity where assets are ring-fenced and bankruptcy-protected.

• The security agent ATG Treuhand controls the assets for Midas Software GmbH and can liquidate and distribute assets if Midas Software GmbH defaults.

• Investment is received by Midas Software GmbH in the form of fiat or stablecoins from the Arbitrum DAO.

• If stablecoins other than USDC are transferred, a qualified on-offramp provider converts the funds to USDC.

• The converted USDC is sent to Maerki Baumann, who then converts it to fiat.

• Maerki Baumann uses the fiat proceeds to acquire and hold BlackRock-managed US Treasury ETFs.

• After purchasing the ETFs, a value-equivalent quantity of mTBILL tokens is minted and sent to the investor’s wallet.

Redemption Process:

• Maerki Baumann sells a value-equivalent quantity of ETF shares.

• After the sale is complete, Maerki routes the funds to the applicable investors.

• Midas charges no fees for the issuance, redemption, or management of the mTBILL token.