Heads Up: Bankrupt MIDAS is going to distribute $2k among investors by Monday (and are going to steal your funds after 180 days)

Hey!

So, just a quick heads up to anyone who was invested with MIDAS Investments, the shady company that went belly up right after Christmas.

They’re going to send out $2k worth of BUSD into every user account that was affected by the 55% haircut late December. But here comes the interesting part:

Do not miss to withdraw the BUSD within 180 days, otherwise it will get stolen from you and redistributed to the remaining users. Robin Hood Style.

Their CEO sent out the following Email:

Midas to distribute the remaining funds on wallets, add liquidity to MIDAS and give follow-up on the new project - by Trevor, CEO of Midas

Currently, Midas has $11.5 mil worth of crypto left after the event (without MIDAS token).

$4.63 mil belongs to the users that did not withdrawn yet. If you did not withdraw your crypto funds (not MIDAS tokens), please do. In 180 days after the event, we will redistribute the remaining funds to the users.

On Monday, the 6th of February, $1.5 mil will be used to provide concentrated liquidity pools for MIDAS token between the price range of $0.5 to $3.

It will give the equal opportunity for everyone to exit the MIDAS token while creating the trading pool, which will evaluate MIDAS in the range between $1.5 and $9 mil market cap. In order to sell, you will need to withdraw MIDAS on your non-custodial wallet (like Metamask) and exchange MIDAS tokens. Prepare this before Monday.

MIDAS tokens in this pool will not be participated in the swap, while all the fees generated in this pool will be used to buyback MIDAS.

The main reasons for establishing this liquidity are:

• An opening opportunity to sell MIDAS tokens for everyone who wants to have liquidity in the upcoming bull market
  
• Burn tokens for everyone who does not want to wait for the new project
  
• Fix the market cap value for the upcoming swap to reduce immediate sell pressure on the token
  

On Monday, 6th of February, the remaining funds will be distributed among users who suffered in the event by the following terms:

• The value will be fixed in USD and given to users in BUSD to lower withdrawal fees.
• Every user with an asset deficit will receive a fixed payout of $2000. It will cover the losses for 594 users.

Update on the new project

It will be a DeFi asset management protocol that will focus on creating tokenized yield-bearing assets and indices. The protocol will have two core blocks: vaults and the token of the vaults. Vaults will be transparent strategies that accumulate DeFi opportunities under specific strategies. Vault's tokens can be used in lending protocols to free liquidity from the strategies.

The main feature of this type of protocol is the interoperability of the tokenized strategies, which can be distributed via:

• partnered protocols
  
• hedge funds
  
• B2B
  
• retail clients through non-custodial wallets
  

The protocol will charge a streaming fee and performance fee, which will be distributed amongst holders of the new token. We plan to establish protocol as a fully registered DAO to provide the next level of transparency and community engagement in making decisions.

Meanwhile, we are searching for an experienced CTO, who will be able to execute our vision in the most secure form.

Our team is targeting for the MVP launch in Spring. The token will be swapped after the MVP launch. I am fully committed to build a new project based on our expertise in DeFi world gathered over two years and the partnerships we have made through our journey.