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description: This doc aims to give guidance to newcomers of the project.
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# Introduction

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These docs are in active development by the MIDAS community.
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\*THE CONTENT OF THIS WEBSITE DOES NOT CONSTITUTE INVESTMENT ADVICE, FINANCIAL ADVICE, TRADING ADVICE, OR ANY OTHER ADVICE.
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## Introducing MIDAS Platform <a href="#bf64" id="bf64"></a>

MIDAS is a governance token of Midas DeFi platform that is designed to execute yield generating strategies autonomously with decentralized approach.

The autonomous profit generating strategies will be updated by the community through voting with decentralized governance system.&#x20;

The main products on the MIDAS platform that are planned to launch are:

1. Yield Farming through $MDS LP staking
2. Autonomous Yield Generating Vaults (Under development).
3. Governance (Not yet implemented)

There will be 5% fee of all profits generated from Vaults strategies. 3% of the profit will be designed to buyback the MIDAS token. 2% will be used for further development and platform maintenance.

Governance page and Vaults will be available on [midas-defi.finance](https://midas-defi.finance/) in near future.&#x20;



## Initial Liquidity Generating Distribution <a href="#id-48cf" id="id-48cf"></a>

To provide fluent liquidity, MIDAS is distributed with a liquidity generating event with bonus amount. Contribute WETH to the MIDAS fair launch smart contract to receive tokens. Total of 16,000 $MDS will be distributed to those who staked their WETH to earn $MDS for initial 20,000 blocks. The contributed WETH will be matched and added to the Uniswap liquidity pool. You may remove the staked liquidity token any time you want after you receive it.

To encourage real value and TVL to flow into MIDAS platform, MIDAS smart contracts employ interchangeable strategies that earn $MDS inside the LP pools. There will be only one LP pool to earn $MDS which is MIDAS-ETH LP. This gives a great incentive to anyone who wants to earn more $MDS with MIDAS/ETH LP by other than market buy.

Many believe that the act of adding additional pools is disincentivized by the fact that the rewards for the existing pools (same reward per block) will be distributed among other pools. Furthermore, other pools that are unrelated In our model, this is lessened by the nature of MIDAS fees being paid out by additional farming pools. Although farmers are diluted in their rewards, the MIDAS they have appreciate in value due to the positive market pressure.

## Liquidity Mining <a href="#id-8f19" id="id-8f19"></a>

Many of liquidity farming platforms mint even more tokens in order to keep the users from farming. This causes a problem the holder due to inflation of the tokens. In other words, this completely destroys the value of the underlying token. In order to solve this problem, Midas team decide to

1. Open ETH-MDS LP pool only for reward of MIDAS token distribution
2. Fee for further profit generating strategies (such as Vault strategies)
3. Fix the total supply

## Decentralized Governance <a href="#e87b" id="e87b"></a>

MIDAS is designed for community governance. The community decides everything related to the MIDAS platform from fees, adding more pools, mining distribution ratio, and even minting more $MDS

If the holders decide MIDAS Staking should have different pool for mining, it may take some time, but it can be done.

If the community decides to raise the fee for profit generating strategies, we can raise the fees.

MIDAS platform will do our best to cooperate with the community in order to develop the platform EASY, and PROFITABLE to everyone so that every step the community takes and builds together earn some gold with their touch. (Generate profit for everyone).

This creates an incentive to hold even more MIDAS by the holders. Let the governance begin.

## 84,000 MIDAS (MDS) until the community decides <a href="#id-35ef" id="id-35ef"></a>

The total supply of MIDAS token will be only 84,000 MDS, unless the community decides to mint more.

## MIDAS Community <a href="#id-524e" id="id-524e"></a>

* Medium: [https://midasfinance.medium.com/](https://midasfinance.medium.com/)
* Twitter: [https://twitter.com/Midas\_Defi](https://twitter.com/Midas_Defi)
* Telegram: [https://t.me/Midasfinance](https://t.me/Midasfinance)
* Website: [https://midas-defi.finance/](https://midas-defi.finance/)
