Midas

Midas issues tokenised investment products such as mTBILL and mBASIS. The official Midas smart contracts registry lists each product as a group of contracts: an ERC-20 mToken, NAV oracle, issuance vault, redemption vault and, where applicable, bridge contracts.

Midas products are not ERC-4626 or ERC-7540 vaults. Their direct issuance and redemption flows are implemented with bespoke Midas functions such as depositInstant(), depositRequest(), redeemInstant() and redeemRequest(). Because of this, eth_defi supports Midas through a direct VaultBase adapter instead of the ERC-4626 adapter stack.

Historical prices

The Midas adapter reads historical share price using the product datafeed contract. For each block, the historical reader multicalls:

  • mToken.totalSupply() for outstanding shares

  • dataFeed.getDataInBase18() for NAV/share

TVL is calculated as totalSupply * NAV/share in the product denomination. The initial implementation supports Ethereum mTBILL and mBASIS, both USD-denominated products.

Limitations

Active issuance and redemption are not implemented. The adapter intentionally marks generic deposits and redemptions as unavailable because Midas flows are not ERC-4626/ERC-7540 compatible and may involve eligibility checks.

eth_defi.midas.vault

Midas tokenised product vault adapter.

eth_defi.midas.historical

Historical reader for Midas tokenised products.