Midas Capital integrates the Brazilian real stablecoin jBRL and Ellipsis Finance jBRL-BRZ LP tokens on the BNB chain

Author: Jarvis Network

Compiled by: ChainCatcher

We are excited to announce that our Brazilian Real (BRL) stablecoin jBRL and Ellipsis Finance jBRL-BRZ LP token 2brl have been integrated into the Midas money market on the BNB Chain. Starting today, users can take advantage of the Jarvis jFiat mining pool with various features, such as: lending various assets, collateralizing LP positions while continuing to earn LP rewards, and borrowing various assets.

Midas Capital is a new permissionless money market on the BNB Chain. Midas is the cross-chain implementation team of the Fuse pool under Rari Capital, fully supported by the Tribe DAO ecosystem. With Midas Capital's Fuse pool, anyone can create customized and isolated pools for lending any asset!

The isolation model helps control the risk of assets within the pool, rather than the broader protocol, allowing the inclusion of higher-risk assets compared to those permitted in traditional money markets.

Midas allows users to deposit yield-bearing tokens and LP positions into the pool, enabling users to continue earning yields or LP rewards while still using them as collateral.

This enhances capital efficiency and allows users to earn yields while borrowing against collateral, offsetting the cost of loans.

This is implemented through the ERC-4626 tokenized vault standard, which deposits these assets into a tokenized vault within the Fuse pool, then into a yield-generating collateral module.

Midas has launched a new standalone market, the Jarvis jFIAT pool, featuring jBRL and 2brl tokens, supporting powerful use cases!

Users can earn interest by depositing jBRL, BUSD, BNB, and ETH into the pool!

Once deposited, these assets can also be used as collateral for borrowing.

Users can deposit collateral and borrow jBRL, BUSD, BNB, and ETH. This enables several use cases:

By depositing 2brl LP tokens into Midas's tokenized vault, users can use 2brl as collateral while depositing tokens into DotDot Finance to earn yields. This allows for very powerful use cases:

We recently launched the Money Printer, a contract that mints uncollateralized jFIAT and deposits it directly into the money market. This enables the provision of substantial liquidity to meet demand while maintaining low interest rates; ultimately, it also creates an additional revenue stream for the treasury.

We plan to use it to mint uncollateralized jBRL and deposit them into Midas. These jBRL will not be collateralized until they remain in the pool. Since borrowing requires collateral to be deposited, when these jBRLs are borrowed, they effectively become over-collateralized.

Therefore, the circulating jBRL is always backed by collateral locked in our protocol or Midas.

Only governance can mint jBRL through this method, and jBRL can only be stored in whitelisted smart contracts.

Midas Capital is a DAO within the Tribe DAO ecosystem, bringing Rari Capital's Fuse pool to EVM-compatible blockchains. Fuse is a permissionless money market that allows anyone to create customized and isolated pools to lend any asset. Pool creators can flexibly modify various parameters (interest rate curves, oracles, collateral factors, etc.) based on their risk preferences.

Jarvis Network is a set of protocols and applications on EVM-compatible chains designed to connect legacy finance and decentralized finance (DeFi). Its mission is to build an infrastructure layer that anyone can leverage to develop use cases that promote DeFi adoption and build applications to attract the next billion users. Its first protocol, Synthereum, pioneered an innovative and capital-efficient way to issue and exchange synthetic fiat currencies called jFIAT, thanks to a fully on-chain foreign exchange market. jFIAT is designed to be usable stablecoins: they maintain their peg, are highly liquid, and scalable.