Midasys’s Role in Tokenized RWAs

As a decentralized network that will enable trillions of dollars in transactional value, Midasys will be issuing our own platform that can solve each of these requirements for tokenized real-world assets while maintaining the high level of security required by financial institutions and capital markets.

To realize the full benefits of onchain finance, tokenized RWAs require three key capabilities. They must be able to:

-Be enriched with real-world information. -Be securely transferred cross-chain. -Connect to offchain data regardless of which chain they’re moved to.

Having brought billions of data points onchain, Midasys services are the industry standard for enriching RWAs with offchain data. Some of these services include:

Proof of Reserve

Autonomous, reliable, and timely verifications enable users, asset issuers, and onchain applications to monitor the cross-chain or offchain reserves backing tokenized RWAs. This provides them with enhanced transparency and enables circuit breakers to be implemented, protecting users if the value of offchain assets diverges from assets tokenized onchain.

Identity System

Establishing secure onchain identity systems is necessary for banks, asset managers, and their customers to be able to transact with each other. Midasys offers a privacy-preserving oracle protocol in development that utilizes zero-knowledge technology to enable institutions and individuals to prove the provenance and verify the ownership of tokenized RWAs without revealing personal information to third parties.

Furthermore, Midasys's protocol is set to introduce an identity system named "Decentralized I.D." (DID) to facilitate user onboarding for KYC or KYB (Know Your Customer / Know Your Business) purposes. DID will enable all categories of users to onboard in a permissionless manner through the chain, granting them access to the underlying ecosystem. This one-time permissionless onboarding process will provide users with a seamless experience akin to those offered by centralized systems, ensuring a smooth customer journey.

The implementation of this system will enhance security for users, mitigating the risk of fraud or malicious activities through proper AML/CT (Anti-Money Laundering/Counter-Terrorism) screening. This capability empowers Midasys to furnish users with a secure, transparent, and efficient ecosystem.

Data Streams and Data Feeds—Users can underpin onchain markets with a secure and decentralized source of financial market data around commodities, equities, forex, indices, economic data, business financials, cryptocurrencies, and more.

On and off-ramping

Midasys's development strategy prioritizes anticipating heightened regulatory measures across various jurisdictions. As a result, both retail and institutional users will have access to on-ramp and off-ramp services for fiat currencies, equities, tokenized securities, and digital assets through Midasys in a compliant regulatory framework.

Functions

Any offchain event or data can be synchronized or published onchain, such as standing settlement instructions, corporate actions, proxy voting, ESG data, dividends and interest, and NAV.

Once the tokenized RWAs are enriched with real-world data, they need to be able to be recorded on blockchains while keeping updated with all relevant information, such as price, identity, and reserves value, as they move. Therefore, a secure solution is needed that offers both offchain and onchain connectivity.

Governance

Midasys Chain implements on-chain governance, allowing for continuous enhancement and evolution over time through active participation from community members. Users can engage formally on-chain and informally off-chain to partake in discussions, debates, and decision-making processes concerning the operations of the chain. They have the ability to propose changes and cast votes on various matters. This approach sets Midasys Chain apart, particularly from networks like Ethereum, which lack on-chain governance features. Midasys Chain's on-chain governance fosters inclusive engagement from all stakeholders, ensuring their voices are heard in shaping the platform's future.