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.
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.