MIDA’s protocol consists of a set of smart contracts whose purpose is to manage the $MIDA token and the auction mechanism.
More in detail, the MIDA’s protocol uses three smart contracts:
- 1.the first one is an ERC-20 that allows the creation and management of the fungible $MIDA token.
- 2.The second one is an ERC-721 that enables the minting process of the NFTs created by MIDA.
- 3.The third smart contract manages auctions using a fully on-chain and decentralized system, thus acting as an impartial escrow ensuring transparency and regularity of execution to all parties involved.
All smart contracts are built using Solidity and deployed on the Ethereum Main Network.
With each new smart contracts implementation, audits will be carried out by experts to ensure the correctness and quality of the product code.