The Latest Collaboration Between Midas and Etherlink
As part of its ongoing commitment to creating accessible infrastructure for financial systems, Etherlink has recently integrated Midas, an institutional-grade asset tokenization platform. This collaboration aims to offer compliant and composable yield products to a wider audience.
One of the key highlights of this integration is the introduction of Liquid Yield Tokens (LYTs) into Etherlink’s ecosystem. These tokens offer various use cases, including collateralized lending, risk tranching, and portfolio management.
Exploring Midas’ New Offerings
According to a recent press release shared with CryptoPotato, Midas has been steadily expanding its presence on Etherlink by introducing new products such as mMEV and mRe7YIELD. These products track the performance of yield strategies developed by MEV Capital and Re7 Capital, respectively.
At present, Midas reports a Total Value Locked (TVL) of close to $350 million on its website. However, data from DefiLlama shows a slightly lower figure of nearly $190 million.
The Strength of Etherlink
Etherlink, a Layer 2 blockchain, offers a non-custodial, Ethereum Virtual Machine (EVM)-compatible platform built on Tezos Smart Rollups. This provides developers with favorable conditions in terms of transaction costs and confirmation times.
“Etherlink offers the scalability and composability needed to bring structured, compliant strategies fully on-chain. With products like mMEV and mRe7YIELD, we’re expanding secure, self-custodied exposure to institutional-grade products.” – Dennis Dinkelmeyer, CEO at Midas
David Relkin, Head of DeFi at Nomadic Labs, the core team behind Tezos, believes that this collaboration is a crucial step towards bringing wholesale finance fully on-chain. The growth of Etherlink’s TVL from $1.45 million to over $45 million further underscores the platform’s potential.
In addition to its collaboration with Midas, Etherlink also supports various other use cases, including gaming & NFTs, cross-chain liquidity through bridges like LayerZero or Bifröst, and the integration of .etherlink domains.