👩‍💻Verifications and Screenings

Accessing Midas tokens requires successful completion of KYC and AML screening.

Verification Processes

In-App Screening Processes

When visiting the Midas website, the investor's IP address is automatically screened to determine his region. If the IP is identified as originating from a restricted region, access to the website is blocked. This process also includes restrictions for users attempting to access the website via VPNs.

In addition to IP screening, Midas implemented wallet screening during the wallet connection process to detect and block suspicious wallets from interacting with the platform. If a wallet is flagged as suspicious, the system will automatically disconnect it, preventing access to any wallet-related functionalities.

Before acquiring tokens, investors must review and accept the terms and conditions, which state that investors from prohibited jurisdictions are not allowed to participate in any transactions.

Onchain Screening Processes

At the blockchain level, Midas' "minter and redeemer" smart contracts integrate the Chainalysis Oracle for sanctions screening, where available. This oracle actively tracks and lists sanctioned addresses, preventing them from acquiring or redeeming Midas tokens, ensuring compliance with sanctions regulations.

Offchain Transfers

Investors wishing to invest or redeem through FIAT transfers must contact [e-mail]. Once approved by Midas' compliance team (within one to four business days), the investor is added to a greenlist and notified via email. Following approval, the investor can acquire or redeem Midas tokens using FIAT.

Currently, the greenlist applies only to USD transactions, but Midas may extend this requirement to cryptocurrency transactions in the future.