Since Midas enables pool creators to set up custom and isolated money markets with a variety of supported assets, the platform can have multiple Forex markets running simultaneously across multiple chains.
Therefore, the pools enable users to:
Collateralize Blue Chip Assets For Native Currencies: These pools allow users to utilise their blue chip assets, such as wBTC, wETH, BNB, MATIC, and many others, to borrow their native currencies without selling their original assets.
Explore Non-USD Markets: Users can also explore other markets without reliance on USD-based tokens. This also creates an inclusive ecosystem where users can deposit their non-USD tokens as well and borrow other key assets without taking the USD stablecoin route.
Enable Forex Trading: Midas pools enable seamless on-chain Forex trading with a variety of assets. In our jFIAT pool on Polygon, for example, users can easily get exposure to a variety of currencies, including EUR, GBP, CNY, CHF, and MXN.
Currently, Midas supports the following Forex Markets: