Issuance & Redemption

Investors must meet the eligibility criteria applicable to the issuance or redemption method they choose. Please view the eligibility criteria under Eligibility.

The midas.app website prioritizes instant issuance and redemption when available, and defaults to a standard mode if instant processing is not possible. Investors are informed of the mode that will be used before transferring their tokens to the Midas smart contract.

The list of eligible tokens for acquiring or redeeming mBASIS can be viewed and selected directly on the midas.app/mbasis page.

Instant issuances and redemptions via crypto

Investors looking to acquire or redeem mBASIS using cryptocurrency, such as stablecoins, can simply connect their wallet at midas.app/mbasis and complete the process with ease.

The amount of output tokens quoted on the website (and ultimately received) is determined by an oracle.

Instant Issuances via crypto

1. The investor connects their wallet.

2. If necessary, the investor switches their wallet to the Ethereum or Base network.

3. The investor selects the cryptocurrency they wish to use to acquire mBASIS.

4. The investor enters the desired amount.

5. The investor reviews and accepts the terms and conditions.

6. The investor approves the Midas smart contract to spend their tokens (requires on-chain transaction confirmation).

7. The investor invests their tokens and receives mBASIS in return (requires on-chain transaction confirmation).

Instant Redemption via crypto

• The redemption process closely mirrors the issuance process, essentially functioning as its reverse.

Please note that currently the capacity for instant redemption for mBASIS is available up to $1 million in total during the launch period. Any additional redemption requests will follow the standard redemption mode, as outlined below.

Standard Issuance and Redemption via crypto

When using the standard mode, investors follow a two-step process: first submitting an issuance or redemption request, then having that request processed. They can track the status of their request through the "pending" tab on the mBASIS product page. Once the request is processed, Midas will transfer tokens directly to the investor’s wallet.

The issuance of mBASIS tokens to the investor's wallet usually occurs within 35 days of the issuance request. Redemption of mBASIS is processed within 65 days of a redemption request.

Midas is working to reduce the redemption period to zero days as part of an update in the near future. We will announce the respective feature as soon as available.

Step 1: Request Transaction

This process mirrors the instant issuance via crypto, with the key difference that mBASIS tokens are not received immediately.

Once the request transaction is confirmed on-chain, the investor will be prompted to check the request status in the "pending" tab, where they can view the expected timeline for receiving their tokens.

Step 2: Receive Tokens

Midas will acknowledge the request and process it as quickly as possible.

The tokens are airdropped directly to the investor's wallet, using the same wallet that was used to request the issuance or redemption.

For issuance, the investor is only exposed to mBASIS price volatility once the tokens are delivered to their wallet, at the end of Step 2.

For redemption, the investor continues to be exposed to mBASIS price movements until the redemption request is processed.

Standard issuances and redemptions via FIAT

For investors preferring to use fiat, they must contact [e-mail] to initiate the process.