Midas Dollar Protocol is designed by the Midas Protocol team as the algorithmic stablecoin on Binance Smart Chain. Midas Dollar is an innovative solution that can adjust its supply deterministically to move the price of the token in the direction of a target price to bring programmability and interoperability to DeFi.
One of the biggest issues of all current algorithmic stablecoins right now is utility. We are glad that MDO has use-cases right away.
Inspired by Basis and its predecessors (Empty Set Dollar and bDollar), Midas Dollar is a multi-token protocol that consists of three tokens: MDO (the algorithmic stablecoin), Midas Dollar Shares (or MDS, which holders can claim MDO inflation when the network expands), and Midas Dollar Bonds (or MDB, which can be purchased at 1:1 rate when the network is in contraction and can be redeemed with premium for MDO the network returns to its inflationary state, above the $1 peg).