This is the important piece of information :

IMPORTANT: In the video, I say that our target for balancing is 48%, but due to withdrawals from the platform and swaps on Midas token in the recent four days, the final number is 55% of the balance.

We will adjust user balances by balancing remaining liabilities in BTC, ETH, and stablecoins with remaining assets, deducting 55% and rewards earned.

Balances in other assets, such as BNB, AVAX, FTM, and CeDeFi, will not be impacted aside from the reduction of historical earnings;

Users with balances lower than $5,000 will not have their balances adjusted aside from the deduction of earnings. Also, your balance will not be lower than $5,000 (minus deducted rewards).

The adjustment to users’ BTC, ETH, and stablecoins will be compensated in MIDAS tokens, which can also be withdrawn from the platform;

MIDAS tokens will be swapped for the token of the new project, which will be built on principles of full transparency and will embrace the innovations developed by the Midas team over the past six months, such as CeDeFi;

We will also stop providing liquidity for the MIDAS token and aim to remove all liquidity from it, making it fully tradable by the community.

Talk about a shit show

Tldr: users getting 55% haircut on their investments, anything left is converted to their midas token, sounds familiar? (ftx)


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