MIDS
One billion, and a cap that means it
MIDS is the native token of Midas Chain. This page is the supply, the release schedule and the constraints — the things an issuer is actually for.
Total issuance · 1,000,000,000 MIDS
- Token sales50%500,000,000
- Treasury20%200,000,000
- Investors10%100,000,000
- Core team10%100,000,000
- Marketing10%100,000,000
Issuance is capped in the contract itself, and the cap is checked against tokens ever minted — not tokens currently in circulation. Burning is therefore permanent: a burned token cannot be reissued, which is the only reading under which a supply reduction means anything.
Why the cap is measured against issuance
The cap is checked against a running total of tokens ever minted, not against tokens currently in circulation. The distinction is the whole point.
A cap measured against circulating supply, on a token that can be burned, means burning nine hundred million tokens hands the minter nine hundred million of fresh headroom — and the reduction can simply be reissued. A deflationary claim is only true if burning is permanent, so the contract tracks issuance separately and burned supply never returns.
Issuance runs in tranches
The token-sales allocation is not released on demand. It runs in five tranches, each with a published sales ceiling, and each gated by conditions that pause it automatically. The limit is stated before it is reached rather than discovered afterwards.
| Phase | MIDS released | Cumulative ceiling |
|---|---|---|
| 1 | 100,000,000 | $52.9M |
| 2 | 200,000,000 | $105.8M |
| 3 | 300,000,000 | $158.7M |
| 4 | 400,000,000 | $211.6M |
| 5 | 500,000,000 | $264.6M |
Ceilings are shown at an indicative price. The launch price is not set — it is decided alongside treasury and market-making policy, and it changes every figure in this column.
What pauses a phase
A phase opens on schedule unless one of four conditions is breached. The pause is automatic; resuming requires a documented decision.
Treasury cover below 1.0
Unclaimed liability exceeds treasury MIDS at a conservative stress price. Selling more while unable to settle what is already owed is indefensible.
Claim flow above the daily budget
Holders are converting faster than the budget drains. More capacity lengthens the queue rather than shortening it.
Price outside its band
A collapse and an unsustainable spike are both reasons not to commit more supply against the current mark.
Compensation cap binding
If commissions are already being reduced, opening capacity before understanding why compounds it.
On the burn
A ninety per cent burn is the long-run intent. It is not a schedule and we will not present it as one — buyback begins only once fee revenue can fund it, and the insurance fund tops up before any buyback runs.
Nor is it price support. Absorbing even five per cent of projected peak claim-driven selling would require roughly $81M of gross annual revenue. Buyback is a long-run supply commitment, small relative to flow, and honest only if described that way.
What is not decided
Listed here rather than left for a reader to notice.
Launch price
Sets capacity, the value of every allocation, and three of the four phase triggers.
Listing-bond parameters
The only material demand sink. Current values are placeholders and produce implausible outcomes at the extremes.
Burn threshold
Proposed but unratified. Until set, the ninety per cent figure cannot be described publicly at all.
Issuer domicile
Separation from the exchange is decided; the jurisdiction is not.