Discover the best DeFi opportunities with expert research and risk insights.

Join our Whale Club

Midas

RWA

Midas is a blockchain-based asset management protocol bringing institutional-grade investment products on-chain. Its Liquid Yield Tokens (LYTs) offer floating-value, regulated yield exposure, combining traditional finance compliance with DeFi composability.

Risk Rating
Average
Protocol Code Quality
Protocol Maturity
Protocol Design
What is Midas?
What we like
Midas focuses on building regulated, blockchain-based financial products that mirror traditional investment structures while keeping the efficiency and transparency of crypto. Its design aims to solve problems that have caused many “yield-bearing stablecoins” to fail by separating yield generation from the artificial $1 peg.
What we like less
Because Midas blends traditional finance and DeFi, the structure can feel less open than other crypto projects, with eligibility checks and compliance steps that may limit access for smaller users. The product design is also complex and depends heavily on regulatory approval and external service providers.
What it means for you
Midas may appeal to investors looking for on-chain exposure to regulated, yield-focused products rather than typical DeFi tokens. It’s a more institutional-style platform designed for those who want compliant yield options rather than speculative crypto returns.
Information
Exploit/Hacks
None
Info
Key Metrics
  • TVL: $927.4M (Rank #52)
  • TVL Ranking by RWA: #2
  • Blockchain: Ethereum, XRPL EVM, Plume Mainnet, Etherlink, RSK, Sapphire, Base, Katana
  • Chain TVL
    • Ethereum: $841.65M
    • XRPL EVM: $27.89M
    • Plume Mainnet: $22.49M
    • Etherlink: $17.15M
    • RSK: $9.52M
    • Others: $8.64M
Risk Assessment
Average
Protocol Code Quality
  • Code reviewed by at least one experienced auditor; Sherlock
  • Public team promotes accountability
  • No documented protocol hacks since launch
Protocol Maturity
  • Latest protocol version launched in 2024; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 5% by total value locked reduces risk
  • Multisig wallet controls protocol upgrades
  • Multisig consists of less than 4 signers, which makes the protocol more susceptible to centralization risks
  • No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
  • No governance token and/or contracts are fully immutable
Protocol Design
  • This protocol is susceptible to risks related to yield optimizers which deploy custom strategies to automatically manage user funds
Things to know about Midas

What is Midas

Midas is a financial infrastructure project that brings traditional investment-grade products onto the blockchain. Its main offering is the Liquid Yield Token (LYT), a tokenized asset that tracks the performance of an underlying investment strategy, such as short-term government securities. Unlike yield-bearing stablecoins that promise to stay at $1, LYTs have a floating value that changes with portfolio performance. This avoids the de-pegging risks common in “stable” yield tokens while still letting investors access regulated yield opportunities on-chain.

How Midas makes money

Midas earns from management and structuring fees tied to its investment products. The company acts as the regulated issuer, overseeing custody, compliance, and reporting. Revenue comes from fees on issuance, redemptions, or underlying yield rather than speculation or token emissions.

How you make money on Midas

Investors can purchase Liquid Yield Tokens that reflect the value of a pool of underlying assets. As those assets generate income, for example, from Treasury yields, the value of the tokens increases over time. Users can later redeem their tokens for crypto or fiat equivalents based on the current redemption price shown on Midas’s app and oracles. There’s no fixed $1 peg; your returns depend on the actual performance of the underlying portfolio.

Midas Pools
Midas mAPOLLO Vault
mAPOLLO
16.7%
Yield
$23M
TVL
Risk
C
Protocol
Midas
Chain
Ethereum
Details