Tokenization platform Midas launches mBASIS to compete with Ethena
2024-06-20 16:33:14
Midas, a tokenization platform backed by Coinbase Ventures and others, has announced the launch of an ERC-20 token called mBASIS, denominated in US dollars and designed to generate revenue through a delta neutral basis trading strategy. The mBASIS token is similar to Ethena Labs' revenue token sUSDe (a "synthetic dollar" version of its USDe), and Fabrice Grinda, executive chairperson of Midas Labs, said the decision to launch mBASIS was made because they felt they could build a better product than Ethena.
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