The tokenization platform Midas launches mBASIS to compete with Ethena.

according to The Block, the tokenization platform Midas, supported by Coinbase Ventures and others, announced the launch of a new yield ERC-20 token called mBASIS, priced in US dollars, aimed at generating yield through delta-neutral basis trading strategies. The mBASIS token is similar to Ethena Labs' yield token sUSDe (its staked version of "synthetic dollar" USDe). Fabrice Grinda, Executive Chairman of Midas Labs, stated that the decision to launch mBASIS was made because they believe they can create a better product than Ethena.