Project Update | 2020.11.27

MDS11
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Mutual DAO System (MDS) is the first global mutual aid system based on blockchain & smart contract, which also leverage DAO (Decentralized Autonomous Organization). It combines the traditional mutual insurance model with blockchain and smart contract which provide a low operation cost and guarantee of compensation for risks.

The investment institutions of MDS include well-known blockchain VCs such as Fenbushi Capital, Danhua Capital, Fundamental Labs and etc.

We gratefully thank all the community friends and MDS fans that the project could not go far without your support and trust. MDS project focuses on long-term development, and our community will always follow the principle of fairness and transparency. We biweekly release our project updates in form of the following progress journal:

MDS DeFi Insurance Contract

Launched:

MDS Mutual Pool 1 – DeFi Mutual Insurance Contract
https://m.medishares.net/product/view/id/2

Any DeFi user can buy MDS from Uniswap, then join this pool through Metamask or other Ethereum wallet. The contract will cover below DeFi contracts including MakerDAO, Compound, Uniswap, Aave, Curve.fi

Tech Spec:
MDS 2.0 White Paper –  Mutual DAO
http://blog.medishares.org/?p=1839

Current Limitions:
1 Etherrum gas fee is too high to support the current design.
2 Although we finished the version on EOS, but seems there are not enough assets and active DeFi project to attract large amount of users.

Solution and plan:
MDS Mutual Pool 2 will be development based on Optimistic Ethereum Layer2.
Optimism Ethereum would likely be one of the earliest options available in mainnet , and has already attracted support from the two leading project such as Synthetix and Uniswap and wallet service provider such as Coinbase Wallet and MathWallet.
Optimistim launched Optimistic Virtual Machine(OVM), a fully functional execution environment that is fully compatible with the Ethereum Virtual Machine (EVM). OVM is a copy embedded in EVM that allows developers to use the same developer tools and smart contract language such as EVM when using Optimistic Rollup.
The core team is working on the Pool 2 development and will launch on Optimistic Ethereum testnet soon.

mds

Insurances Provide:
Based on the market research result, MutualDAO will focus on below:
MDS Mutual Pool 1 – Smart contract security issue coverage
MDS Mutual Pool 2 – AMM LP token impermanent loss coverage

MDS Governance

MutualDAO listed on snapshot, all MDS holder and vote the proposals there
Snapshot is a off-chain, gasless, multi-governance community polling dashboard used by many DeFi projects.

Screen Shot 2020-11-27 at 18.30.18

https://snapshot.page/#/mutualdao.eth

The current in discussion proposal includes if Pool 1 should cover Compound oracle attack on Nov 26.

MDS Token Info

Total: 2,000,000,000
Total Circulating: 1,199,999,624

Data Source:
https://coinmarketcap.com/currencies/medishares/
https://www.feixiaohao.com/currencies/medishares/
http://blog.medishares.org/?p=1965

Exchanges
Huobi: https://www.huobi.vc/zh-cn/exchange/mds_usdt/
Gate: https://www.gateio.life/trade/MDS_USDT
Uniswap: https://app.uniswap.org/#/swap?outputCurrency=0x66186008c1050627f979d464eabb258860563dbe

MDS Telegram Group

https://t.me/medisharesEN

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