Midas mHYPER

Midas mHYPER is a tokenised certificate issued by Midas that is designed to track the performance of a set of market-neutral, stablecoin-focused strategies running across on-chain decentralised finance markets. It is intended for people who want exposure to diversified DeFi yield strategies without taking a directional view on any particular crypto asset. The risk management function is carried out by Hyperithm, a digital asset manager headquartered in Tokyo and Seoul.

mHYPER exists within the Ethereum ecosystem and is part of the Midas Liquid Yield Token family, meaning it is an on-chain token whose value is meant to reflect the returns generated by underlying market-neutral DeFi strategies rather than by any native blockchain consensus process. The token itself carries no block time or consensus algorithm because it is a certificate rather than a native layer-one or layer-two coin. Holders gain on-chain access to the referenced strategy simply by holding the token, with Hyperithm acting as the appointed Risk Manager overseeing the underlying positions.

The data stored for mHYPER does not include a fee stream, revenue figures, or protocol earnings, so no fee-based measures are available on this page. This means standard metrics such as price-to-fees or revenue yield cannot be calculated from the information held here. What is recorded is that the circulating supply of 32,368,934.39 tokens represents 100 percent of supply issued at this point in time, there is no dilution overhang, and the fully diluted valuation equals the market capitalisation of 36,392,734 United States dollars, reflecting a one-to-one ratio between the two figures.