2022 Year In Review: Midas Capital
2022 marked the launch of Midas Capital, where we embarked on a journey to democratize isolated money markets for everyone. The year was, to say the least, extremely eventful, both for the Midas community and the overall crypto ecosystem. The highs of 2021 evolved into a challenging 2022 for everyone as we saw major implosions, bankruptcies, exploits, crashes, and downfalls of major industry players like Terra, Celsius Network, FTX, and more. But as they say, a smooth sea never makes a great sailor.
While the downfalls happened, we at Midas Capital kept building with transparency to create something unique for everyone. Here’s what happened in 2022.
From Idea To Launch
Midas Capital was first conceptualized at LisCon 2021 when the founders were brainstorming the most underrated DeFi primitives that had yet to go cross-chain. 2022 bore witness to the journey of Midas Capital from an idea on paper to a full-scale launch. Midas Capital embarked on its journey officially in June 2022 when it was launched on mainnet. Since then, the protocol has grown leaps and bounds, with exemplary partnerships and the launch of several custom isolated money markets (aka borrowing/lending pools).
Amplifying the Ecosystem
Since its launch, the Midas Capital ecosystem has grown significantly. The protocol boasts of 10+ isolated money markets spread across major ecosystems such as BNB Chain, Polygon, Moonbeam, Evmos, and Fantom. Midas Capital also released a chain-agnostic toolkit, Midas SDK, which enables developers and protocols to offer isolated money markets to their users directly in their front end. Therefore, protocols can leverage the power of isolated money markets through the SDK to drive engagement and utility in their community without needing to utilize the Midas front end.
While 2022 became the year of establishing new partnerships, 2023 will be the year that Midas further develops existing partnerships while building new ones. The Midas community can expect more ecosystems and platforms to be integrated with Midas Capital in the near future.
Pools Galore At Midas Capital
Isolated money markets offer a variety of advantages over traditional pools. What better way to show it to the community than launching several of them? With major ecosystem integrations, as mentioned above, Midas Capital has launched over 10 isolated money markets with major protocols, including Jarvis Network, Transfero Group, Lido, Stellaswap, Mimo, Stader, pSTAKE Finance, and Diffusion.
Continuous Improvements
The Midas Capital platform is built for users and protocols alike, enabling them to take advantage of isolated money markets. While building for everyone, the team behind Midas Capital is constantly looking for ways to make the application better and faster. Through feedback collection and community engagement, Midas has made definitive changes both in the design and the features of the application. Midas has also made it easy for users to share their feedback or request a feature. Midas Capital has also launched its new website, with a cleaner and faster interface.
Building Through The Storm
While Midas was safe from the Terra and FTX debacles, we had our fair share of obstacles to deal with. Midas started out as a project closely collaborating with Rari and Tribe DAO, where we collaborated with other projects in the DAO for development. As the Rari hack occurred, the development came to a screeching halt. However, as the landscape for the DAO changed from development to damage control, the team at Midas Capital continued building and pursuing an independent approach to isolated money markets, the ethos of Midas Capital, from the very beginning.
Liquid Staking Is The Key
In 2022, Midas Capital focused on providing users with the best yield-generating opportunities to help them make the most of their assets. With the ERC-4626 tokenized vault standard, Midas executed seamless integrations with many other protocols around the ecosystem to enable users to earn yield while using their assets as collateral. Moreover, Midas launched several liquid staking pools enabling users to collateralize their liquid staked derivatives and amplify their yield through the pool.
Midas Capital is also working closely with the Polygon team to educate the community about the features of liquid staking and how they can leverage it. Moreover, Midas Capital will also build unique pools in collaboration with polygon to fuel the growth of the utility of liquid staking assets on the platform.
In 2023, we are doubling down on liquid staking, as we believe the technology will reach widespread adoption this year. Therefore, with an engaging community and a battle-tested infrastructure, Midas Capital will be ready to build novel use cases for liquid staking derivatives across ecosystems.
Looking Forward To 2023 — And Beyond
As we move into 2023, we can be proud of what we achieved in 2022. The year marked the launch of Midas Capital on mainnet, and the rest, as they say, is history. We have carved out a name for ourselves in DeFi and will continue to forge new partnerships as we grow. 2022 was, no doubt, a difficult year for everyone. We learned new lessons, partnered with some exemplary teams, and understood what to do and what to avoid. In 2023, with a growing ecosystem and complete transparency, we aim to continue building the best isolated money market platform for users, developers, and protocols.
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.
