Berlin, Germany, 10th March, 2022, Chainwire
Midas.Finance, an automate d treasury growth protocol, has recently added a groundbreaking system of virtual nodes to its protocol.
The new THRONE nodes are upgradable yield-bearing non-fungible tokens (NFTs). Holders of THRONE nodes will receive a sustainable source of passive income and gain exclusive and automatic access to several investment opportunities and decentralized finance (DeFi) protocols from different blockchain ecosystems.
The inclusion of the innovative NFT nodes can help Midas.Finance establishes itself as one of the blue-chip DeFi protocols, expanding its ecosystem while bringing further economic incentives to its growing community.
THRONE nodes – tiers and costs
To become eligible for purchasing the first NFT nodes, users will need to supply the Midas.Finance treasury with $THRONE tokens. Precisely 75% of the funds deposited on the treasury will be burned, while the remaining 25% will be used for protocol liquidity.
The node system is organized into five different tiers, and the rewards received from each node will scale depending on its tier. The structure is as follows:
• Zeus (150 Throne) — reward: 4.513 $CROWN per day (1.7%).
• Athena (100 Throne) — reward: 2.301 $CROWN per day (1.3%).
• Ares (50 Throne) — reward: 0.885 $CROWN per day (1%).
• Apollo (10 Throne) — reward: 0.225 $CROWN per day (0.85%).
• Hermes (2 Throne) — reward: 0.034 $CROWN per day (0.65%)
The rewards are paid in $CROWN tokens, the utility token of Midas.Finance. While the rewards will remain static initially, resulting in increased yields with every rebase, the team may adjust the structure depending on the number of running nodes, token price, and protocol revenue.
It’s also possible to boost rewards by committing to longer staking periods. The longer users remain without claiming their rewards, the higher the yield generated by the node.
To upgrade to the next tier, users will need to collect low-tier nodes and burn them. Upgrading to the Apollo tier, for example, will require five Hermes nodes to be burned. Users will also need to pay a small gas fee in AVAX for each upgrade.
The upgrading feature enables users to quickly compound their yield rewards with just a click of a button. While it requires a substantial initial investment, the Zeus tier yields immense returns for its owners. The upgrade function will be available shortly after the nodes go live.
Portability and transparent ownership
Each node can conveniently be bought or sold on marketplaces like TofuNFT. Every transaction will have a 10% royalty fee, which will be deposited on the Midas.Finance treasury to bring further sustainability and liquidity.
It is also possible to offer THRONE nodes as a gift, as they can easily be transferred between wallets. Additional use cases in play-to-earn games and metaverses will also be incorporated in the future.
Leveraging the best features from various protocols and upgrading them, Midas.Finance generates revenue by combining yield-bearing NFTs, mints, rebases, NFT royalties, and buybacks.
Join the future of DeFi and start earning with Midas.Finance by following them on Discord, Medium, Telegram, Reddit, and Twitter.
- Tom Jin
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.