Background
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.

Algorithmic Central Banks

Although many wide variety of stablecoin mechanisms exist, Midas Dollar Protocol specifically uses an “algorithmic central bank” approach to manage the supply of tokens according to a predetermined logic. The algorithm is in charge of balancing stablecoin supply to a fluctuating demand, ensuring that the token price remains relatively stable. Further details are available under the Mechanisms section.
Last modified 8mo ago
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