---
title: "Midas mHYPER (mHYPER) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/mhyper-midas/"
description: "Build-time stablecoin profile for Midas mHYPER (mHYPER). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Midas mHYPER (mHYPER)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Midas-wrapped Hyperithm market-neutral strategy token with a live Chainlink NAV feed; high-risk institutional strategy exposure, not a cash reserve. mHYPER wraps a Hyperithm-managed market-neutral stablecoin strategy through Midas. The checked-in metadata includes the Katana deployment and a Chainlink NAV feed, giving Pharos a live valuation route while still classifying the exposure as high-risk institutional strategy collateral. Holders rely on Midas issuer rails for primary {{term:redemption}}redemption{{/term}}.

## Collateral

Hyperithm-managed market-neutral stablecoin strategies across on-chain markets and institutional execution venues, held under Fordefi MPC custody (manager holds the trading key share, Midas holds an admin/policy share). Tokenholders hold a qualified subordinated claim against Midas (no ownership of the underlying assets), secured by a Security Agent lien on the Collateral Account for tokenholders.

## Peg Mechanism

NAV-accreting tokenized debt instrument (blockchain-based certificate under German law), not a fixed $1 peg; value tracks the daily NAV of the Hyperithm-managed market-neutral reference portfolio. Primary mint/redeem only via permissioned Midas DepositVault/RedemptionVault for greenlisted users with NAV conversion settled off-chain by the issuer; instant redemptions are facilitated through Midas Staked Liquidity (MSL). No fixed $1 redemption floor.

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Germany | Liechtenstein FMA (prospectus-approving authority only; issuer not FMA-licensed) | EU-Prospectus-Regulation-approved tokenized debt instrument (blockchain-based certificate under German law); EEA-restricted, not available to U.S. retail persons |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x9b5528528656dbc094765e2abb79f293c21191b9` | 18 |
| monad | `0xd90f6bfed23ffde40106fc4498dd2e9edb95e4e7` | 18 |
| plasma | `0xb31bea5c2a43f942a3800558b1aa25978da75f8a` | 18 |
| katana | `0x926a8a63fa1e1fdbbeb811a0319933b1a0f1edbb` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/mhyper-midas.