What Is Midas Dollar Share (MDS)?

What Is Midas Dollar Share (MDS)? Complete Guide Review About Midas Dollar Share.

What Is Midas Dollar Share (MDS)?

The Controller smart contract deployed on Binance Smart Chain is the decentralized version of a processor. This smart-contract creates all the interactions between other associated smart contracts. Venus does not negatively support tokens by default. It will rely on specific markets to be whitelisted within the Controller contract. Midas Dollar Share The protocol has been designed as a fork code base of Maker DAO and Compound and modified to enable both features into one.

The protocol has access to whitelist markets by utilizing the admin function support Market with parameters for address and interest rate models. For an asset to have a functional marketplace, there must be a valid price feed from the Value Oracles alongside a Collateral Factor. Every interaction with the protocol will be verified and validated through the Controller smart contract, which validates liquidity and collateral before a function is executed.

Midas Dollar Share Storage Key Points

Coin BasicInformation
Coin NameMidas Dollar Share
Short NameMDS
Circulating SupplyN/A
Total Supply17,574
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Collateral Value

When a user supplies, borrows, or mints from the Venus protocol, they are using an underlying asset to the first bond to vTokens. These underlying assets held as collateral in the platform have dollar values that are tied to the vTokens as well. For this system to work properly, collateral values are pulled from market rates. To pull these market rates efficiently, Midas Dollar Share will be utilizing Band Oracles to grab market prices and update the protocol on-chain.

Value Oracles

Collateral Values are propagated from price feed Oracles, such as Chain link, which pull market price data and send these values on-chain, so they are transparent and verifiable. Due to the fast speed and architecture of the Binance Smart Chain, these price feeds are easily ascertainable with low cost and high efficiency directly on-chain. Currently, there is a hurdle of bottleneck issues from oracles, such as Chain link, which are provided on Ethereum. With rising gas costs and congestion, these pricing oracles are not updating prices as efficiently or economically.

Governance

Midas Dollar Share Venus has been designed to enable community control in its core. Since there are no pre-mines for the team, developers and founders, this means the protocol will be controlled by those who decide to mine Venus Tokens. To create a proposal, a proposer will need 300,000 XVS and the proposal must reach at minimum 600,000 XVS quorum to be approved.

Liquidations

A user’s collateral may be liquidated if it falls below the thresholds required for the borrow or stable coin side of a specific coin market. These liquidations are subject to a liquidation fee and to satisfy the outstanding debt. The remaining collateral, if any, is then returned to the user. A liquidator can stand to benefit from liquidating a collateralize position.

Interest Rates

The protocol has interest rates that are designated per market from both the supply side and the borrowing side. Interest rates are also applicable for synthetic stable coins that are created on the Venus protocol such as vUSD. The interest rates provided for markets that can be borrowed or supplied are dynamic and have a yield curve that varies based on utilization.

Midas Dollar Share These interest rates are also set from a floor to ceiling based on the Governance process of the protocol. For synthetic stable coins, the interest rates to mint these are fixed. There is no variable interest rate design in these interest rates. However, through the Governance process, users are able to control.

Reserve Factors

Each Midas Dollar Share contract and underlying collateral will have a reserve factor from a basis of 0-90%. This means there will be reserves that the protocol captures between the spreads of borrowing and supplying. These reserve factors are added to the protocol and can be used for community development, improvements, protections, and more. These Reserve Factor funds are controlled by the Governance process and can be used in a variety of protocol security distributions or rewards mechanisms.