Topic: [NO ICO] First TOKEN MINTING EVENT on the MELON PROTOCOL - page 9. (Read 1708 times)

It was always the plan that Midas users can invest with whatever currency they like to, even Fiat through connection of mobile wallets like AliPay. Since Melonport recently has eradicated the inflation mode, all investments can now easily be conducted in all available currencies on the platform.

Since the project is based on Melon, can users only invest with MLN?

1. The purpose of the token:

Midas Technologies AG intends to use the net proceeds raised in the TGE to develop and market the Midas app in a global scale. Since the app is a community-driven project we deem it most beneficial to address a broad base of investors that have a long-term interest in the product and will be users of the app themselves. MDS thereby is supposed to share the value of the project with investors and pay them value back in a long-term perspective. If the platform scales then the rewards granted to investors scale accordingly.

2. Why we chose to give out a security:

From the beginning we were struck by the idea to create a kind of tokenized share that would pay back value of Midas to its initial investors. Early on we started to work together with excellent legal advisors to find a way to make this legally possible. However, we did not just want to create tokenized stocks of Midas Technologies AG but rather give a share of the technology that we develop. We were looking very sceptically  at all the projects that design an unneccessary token economy within their platform just to able to create a utility token. We did not want to confront our users with such an actually unnecesary token. So we decided to tokenize value right to our technology. It was the more difficult way due to worldwide unclear regulation regarding securities, but being based in Switzerland, we think that we found a very good solution for us and our investors that will help Midas to become a success and brings long-term value to its supporters.