Midas msyrupUSDp
MSYRUPUSDP
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
MSYRUPUSDP (Midas msyrupUSDp) is an institutional-oriented tokenized vault token issued by Midas Software GmbH, designed to provide exposure to Maple's syrupUSDT strategy. The underlying issuer demonstrates solid corporate backing, including a $50M Series A in March 2026, regulatory compliance structures, and active continuous security monitoring. However, msyrupUSDp specifically faces severe headwinds: its NAV has experienced an unexplained 75% contraction over six months down to $3.49M, secondary market volume is essentially zero ($3.46 daily), trading has ceased on tracked exchanges, and the holder base remains extremely concentrated among 54 to 63 addresses. No qualifying red-flag exploit, depeg, or regulatory enforcement actions were identified, but severe capital flight and negligible liquidity significantly impair the asset's viability.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Midas msyrupUSDp (MSYRUPUSDP)
MSYRUPUSDP (Midas msyrupUSDp) is a tokenized vault receipt issued on the Ethereum blockchain by Midas Software GmbH. The product functions as a pre-deposit vault designed to provide onchain exposure to Maple's syrupUSDT strategy on Plasma. Structured as a compliance wrapper operating under a formal prospectus under Financial Market Authority (FMA) oversight, the vault is restricted to non-U.S. institutional investors with a minimum deposit requirement of $125,000. Its token supply tracks deposited capital and reflects the net asset value (NAV) per token.
The issuing platform, Midas, utilizes an Attestation Engine for onchain NAV and proof of reserves reporting. Technical security measures include ongoing threat monitoring, incident response protocols, bug bounty programs, and a smart contract audit completed by Hacken in January 2024.
MSYRUPUSDP has faced substantial capital outflows and liquidity contraction. The vault's NAV decreased by approximately 75% over a six-month period to $3.49 million as of August 2026. Secondary market trading for the token has ceased across tracked exchanges, secondary daily volume is near zero, and ownership remains concentrated across a small base of approximately 54 to 63 addresses.