# Midas US Treasury Bill Token (mTBILL)

<https://galactic.inc/analytics/mtbill/>

Data block: 26,238,003 (2026-10-21 02:32 UTC)

[Midas](https://midas.app/) · Treasuries · Ethereum · Base
- Price: $1.0756
- Market cap: $75.28M
- Supply: 69,992,828.27
- Holder addresses: 298
- Top 10 share: 99.5%
- Transfer volume (30d) · Ethereum: $5.27M

Midas US Treasury Bill Token (mTBILL) is a tokenized share class providing tokenized exposure to the Federal Reserve's risk-free rate via short-dated U.S. government debt. Across Ethereum and Base it has a combined supply of 69,992,828.27 tokens held by 298 addresses, for a market cap of $75.28M.

## Price sources

| Source | Value | Type | Estimated | Link | As of |
|---|---|---|---|---|---|
| Midas mTBILL/USD | $1.0749 | On-chain read | No | [etherscan.io](https://etherscan.io/address/0x056339c044055819e8db84e71f5f2e1f536b2e5b) | 2026-10-21 |
| RWA.xyz | $1.0753 | Third party | No | [app.rwa.xyz](https://app.rwa.xyz/assets/mTBILL) | 2026-10-21 |
| CoinGecko | $1.0760 | Third party | No | [coingecko.com](https://www.coingecko.com/en/coins/midas-mtbill) | 2026-10-21 |

## Supply by chain

| Chain | Supply | Holder addresses | Market cap | Data as of |
|---|---|---|---|---|
| Ethereum | 69,656,336.18 | 298 | $74.92M | [Block 26,238,003](https://etherscan.io/block/26238003) |
| Base | 336,492.09 | — | $361.9K | [Block 52,880,372](https://basescan.org/block/52880372) |
| Total | 69,992,828.27 | 298 | $75.28M |  |

## Backing

Retrieved: 2026-10-16

### Token supply vs reported

| Comparison | Token supply | Reported | Gap | Ratio |
|---|---|---|---|---|
| Ethereum market cap vs issuer-reported total value locked (all chains) | $74.92M | $78.59M | −$3.67M | 0.9533 |

### Token supply

| Ethereum, block 26,238,003 | mTBILL |
|---|---|
| Tokens outstanding | 69,656,336.18 |
| Market cap (Ethereum) | $74.92M |

### Reported assets

| [Issuer report](https://midas.app/transparency) | Reported |
|---|---|
| Total value locked (issuer-reported, all chains) | [$78.59M](https://midas.app/transparency) |

## Key facts

- **Issuer:** [Midas](https://midas.app/)
- **Category:** Treasuries
- **Chains:** Ethereum, Base
- **Deployed · Ethereum:** 2023-12-01
- **Transfers (30d) · Ethereum:** 210
- **Transfer volume (30d) · Ethereum:** $5.27M
- **Data block · Ethereum:** [26,238,003](https://etherscan.io/block/26238003)

## Regulatory structure

As of 2026-10-18

- **Issuer legal entity:** [Midas Software GmbH](https://www.mfsa.mt/wp-content/uploads/2026/07/Midas-Software-GmbH-Base-Prospectus-Document-dated-17-July-2026.pdf)
- **Jurisdiction of issuer:** [Germany](https://www.mfsa.mt/wp-content/uploads/2026/07/Midas-Software-GmbH-Base-Prospectus-Document-dated-17-July-2026.pdf)
- **Regulatory framework / offering exemption:** [EU Prospectus Regulation; base prospectus approved by FMA Liechtenstein](https://www.mfsa.mt/wp-content/uploads/2026/07/Midas-Software-GmbH-Base-Prospectus-Document-dated-17-July-2026.pdf)
- **Eligible investors:** [Public offer under the EU Prospectus Regulation (base prospectus approved by the FMA Liechtenstein)](https://midas.app/mtbill)
- **US persons:** [Not permitted (per issuer)](https://www.mfsa.mt/wp-content/uploads/2026/07/Midas-Software-GmbH-Base-Prospectus-Document-dated-17-July-2026.pdf)

[Definitions and methodology](https://galactic.inc/analytics/mtbill/#regulatory-glossary)

## Contract control

| Holder | Roles | Type | Key use | Last rotated |
|---|---|---|---|---|
| **Ethereum** |  |  |  |  |
| [0xe3ee…1852](https://etherscan.io/address/0xe3eee3e0d2398799c884a47fc40c029c8e241852) | Upgrade admin | Timelock 48h | [Shared · 3 assets](https://galactic.inc/analytics/issuers/midas/#k-ethereum-0xe3eee3e0d2398799c884a47fc40c029c8e241852) | [2025-09-09](https://etherscan.io/tx/0x07a8b97d5466035d9ffb88cc594251850bc05fe30e5ed951d7f6f7ec23db54b9) (406 days ago)Rotations in past 24 months: 2 · Within 12 months: No |
| [0xb608…7e89](https://etherscan.io/address/0xb60842e9dabcd1c52e354ac30e82a97661cb7e89) | Timelock proposer | Multisig 1/3 | [Shared · 3 assets](https://galactic.inc/analytics/issuers/midas/#k-ethereum-0xb60842e9dabcd1c52e354ac30e82a97661cb7e89) | Signers: no onchain change recorded |
| **Base** |  |  |  |  |
| [0x9230…b0cb](https://basescan.org/address/0x9230f9cbaca32bad2b19cab331d3e6509b8eb0cb) | Upgrade admin | Timelock 48h | [Shared · 2 assets](https://galactic.inc/analytics/issuers/midas/#k-base-0x9230f9cbaca32bad2b19cab331d3e6509b8eb0cb) | Rotation history not available |

## Role history

| Role | Key | Type | Added | Days held | Granted by | Other assets |
|---|---|---|---|---|---|---|
| **Ethereum** |  |  |  |  |  |  |
| Upgrade admin | [0xbf25…0aac](https://etherscan.io/address/0xbf25b58cb8dfad688f7bcb2b87d71c23a6600aac) | Other contract | [2023-12-01](https://etherscan.io/tx/0xc42c47e97ff8b449371fd3ace5087692ed3736195cf37d41d9617da50432bdc7) | 1,054 | [0xa081…facc](https://etherscan.io/address/0xa0819ae43115420beb161193b8d8ba64c9f9facc) | — |
| Owner | [0xe3ee…1852](https://etherscan.io/address/0xe3eee3e0d2398799c884a47fc40c029c8e241852) | Timelock | [2025-09-09](https://etherscan.io/tx/0x07a8b97d5466035d9ffb88cc594251850bc05fe30e5ed951d7f6f7ec23db54b9) | 406 | [0x8003…2e5f](https://etherscan.io/address/0x8003544d32ee074aa8a1fb72129fa8ef7fe02e5f) | [mF-ONE](https://galactic.inc/analytics/mf-one/) · [mGLO](https://galactic.inc/analytics/mglo/) |
| Multisig signer 0xb608…7e89 | [0x8003…2e5f](https://etherscan.io/address/0x8003544d32ee074aa8a1fb72129fa8ef7fe02e5f) | Single key | [2025-05-05](https://etherscan.io/tx/0x082f0effa0c5711aed7e958dfe398f9ce038ffc7c8476fdee81b24aee0228a62) | 533 | [0xb608…7e89](https://etherscan.io/address/0xb60842e9dabcd1c52e354ac30e82a97661cb7e89) | — |
| Multisig signer 0xb608…7e89 | [0x82b3…0cb7](https://etherscan.io/address/0x82b30194beae06d991bc71850f949ec8cb7e0cb7) | Single key | [2025-05-05](https://etherscan.io/tx/0x761ca38e5153ac7043e4141b4d94fd5d9337f3d84382d72cc4b0783cfcd4cc2f) | 533 | [0x4e1d…ec67](https://etherscan.io/address/0x4e1dcf7ad4e460cfd30791ccc4f9c8a4f820ec67) | — |
| Multisig signer 0xb608…7e89 | [0xc50b…6880](https://etherscan.io/address/0xc50bd8430545c80a681c7cb33e6560fb0bd86880) | Single key | [2025-05-05](https://etherscan.io/tx/0x761ca38e5153ac7043e4141b4d94fd5d9337f3d84382d72cc4b0783cfcd4cc2f) | 533 | [0x4e1d…ec67](https://etherscan.io/address/0x4e1dcf7ad4e460cfd30791ccc4f9c8a4f820ec67) | — |
| Signing threshold 0xb608…7e89 | Threshold: 1 | — | [2025-05-05](https://etherscan.io/tx/0x761ca38e5153ac7043e4141b4d94fd5d9337f3d84382d72cc4b0783cfcd4cc2f) | 533 | [0x4e1d…ec67](https://etherscan.io/address/0x4e1dcf7ad4e460cfd30791ccc4f9c8a4f820ec67) | — |
| Timelock proposer 0xe3ee…1852 | [0xb608…7e89](https://etherscan.io/address/0xb60842e9dabcd1c52e354ac30e82a97661cb7e89) | Multisig | [2025-09-08](https://etherscan.io/tx/0x488a920aee6588657acefbb2ab9f78945bd2a1b89f3e640cbc588197787bae52) | 407 | [0xa081…facc](https://etherscan.io/address/0xa0819ae43115420beb161193b8d8ba64c9f9facc) | [mF-ONE](https://galactic.inc/analytics/mf-one/) · [mGLO](https://galactic.inc/analytics/mglo/) |
| Timelock executor 0xe3ee…1852 | [0xb608…7e89](https://etherscan.io/address/0xb60842e9dabcd1c52e354ac30e82a97661cb7e89) | Multisig | [2025-09-08](https://etherscan.io/tx/0x488a920aee6588657acefbb2ab9f78945bd2a1b89f3e640cbc588197787bae52) | 407 | [0xa081…facc](https://etherscan.io/address/0xa0819ae43115420beb161193b8d8ba64c9f9facc) | [mF-ONE](https://galactic.inc/analytics/mf-one/) · [mGLO](https://galactic.inc/analytics/mglo/) |
| **Base** |  |  |  |  |  |  |
| Upgrade admin | [0xbf25…0aac](https://basescan.org/address/0xbf25b58cb8dfad688f7bcb2b87d71c23a6600aac) | Unknown | Earliest available state: 2026-10-20 | — | — | — |
| Owner | [0x9230…b0cb](https://basescan.org/address/0x9230f9cbaca32bad2b19cab331d3e6509b8eb0cb) | Timelock | Earliest available state: 2026-10-20 | — | — | [mGLO](https://galactic.inc/analytics/mglo/) |

**Past holders (5)**

| Role | Key | Type | Added | Removed | Days held | Granted by | Other assets |
|---|---|---|---|---|---|---|---|
| **Ethereum** |  |  |  |  |  |  |  |
| Owner | [0xb608…7e89](https://etherscan.io/address/0xb60842e9dabcd1c52e354ac30e82a97661cb7e89) | Multisig | [2025-05-13](https://etherscan.io/tx/0x0f2cdf4cda051e003e8b3e8ec1361e2c0972f986523c570e8f1b7e6e3676fe0c) | [2025-09-09](https://etherscan.io/tx/0x07a8b97d5466035d9ffb88cc594251850bc05fe30e5ed951d7f6f7ec23db54b9) | 119 | [0x875c…bc6a](https://etherscan.io/address/0x875c06a295c41c27840b9c9dfda7f3d819d8bc6a) | [mF-ONE](https://galactic.inc/analytics/mf-one/) · [mGLO](https://galactic.inc/analytics/mglo/) |
| Owner | [0x875c…bc6a](https://etherscan.io/address/0x875c06a295c41c27840b9c9dfda7f3d819d8bc6a) | Single key | [2024-02-08](https://etherscan.io/tx/0xc590d85f2f97bc7ea9e74ea61b8b1f9127c984873990f8639cca8848ca399134) | [2025-05-13](https://etherscan.io/tx/0x0f2cdf4cda051e003e8b3e8ec1361e2c0972f986523c570e8f1b7e6e3676fe0c) | 460 | [0xa081…facc](https://etherscan.io/address/0xa0819ae43115420beb161193b8d8ba64c9f9facc) | — |
| Owner | [0xa081…facc](https://etherscan.io/address/0xa0819ae43115420beb161193b8d8ba64c9f9facc) | Single key | [2023-12-01](https://etherscan.io/tx/0x75b0f2b0182c9a2b271ec2a22125bf8483f96ac8f1712bf5564fd35ac87088c1) | [2024-02-08](https://etherscan.io/tx/0xc590d85f2f97bc7ea9e74ea61b8b1f9127c984873990f8639cca8848ca399134) | 69 | [0xa081…facc](https://etherscan.io/address/0xa0819ae43115420beb161193b8d8ba64c9f9facc) | — |
| Multisig signer 0xb608…7e89 | [0x6455…3066](https://etherscan.io/address/0x64559a12dcd3754d1e04b1f78bbcc0365f6a3066) | Single key | [2025-05-05](https://etherscan.io/tx/0x761ca38e5153ac7043e4141b4d94fd5d9337f3d84382d72cc4b0783cfcd4cc2f) | [2025-05-06](https://etherscan.io/tx/0xba2516042439197a21ed160648ec31aebf5c354035cd21c79cc9adba16fe66ee) | 1 | [0x4e1d…ec67](https://etherscan.io/address/0x4e1dcf7ad4e460cfd30791ccc4f9c8a4f820ec67) | — |
| Multisig signer 0xb608…7e89 | [0x0229…85a1](https://etherscan.io/address/0x0229377d4874514720013e9e76e8bf430faf85a1) | Single key | [2025-05-05](https://etherscan.io/tx/0x761ca38e5153ac7043e4141b4d94fd5d9337f3d84382d72cc4b0783cfcd4cc2f) | [2025-05-05](https://etherscan.io/tx/0x082f0effa0c5711aed7e958dfe398f9ce038ffc7c8476fdee81b24aee0228a62) | 0 | [0x4e1d…ec67](https://etherscan.io/address/0x4e1dcf7ad4e460cfd30791ccc4f9c8a4f820ec67) | — |

No onchain log history is available on Base; those rows start from the earliest available state.

## Change log

| Time (UTC) | Network | Event | Details | Transaction |
|---|---|---|---|---|
| 2025-09-09 11:07:23 | Ethereum | Ownership transferred | 0xb608…7e89 → 0xe3ee…1852 | [0x07a8…54b9](https://etherscan.io/tx/0x07a8b97d5466035d9ffb88cc594251850bc05fe30e5ed951d7f6f7ec23db54b9) |
| 2025-09-08 09:30:11 | Ethereum | Timelock delay changed | 0h → 48h | [0x488a…ae52](https://etherscan.io/tx/0x488a920aee6588657acefbb2ab9f78945bd2a1b89f3e640cbc588197787bae52) |
| 2025-09-08 09:30:11 | Ethereum | Role granted | EXECUTOR_ROLE · 0xb608…7e89 | [0x488a…ae52](https://etherscan.io/tx/0x488a920aee6588657acefbb2ab9f78945bd2a1b89f3e640cbc588197787bae52) |
| 2025-09-08 09:30:11 | Ethereum | Role granted | CANCELLER_ROLE · 0xb608…7e89 | [0x488a…ae52](https://etherscan.io/tx/0x488a920aee6588657acefbb2ab9f78945bd2a1b89f3e640cbc588197787bae52) |
| 2025-09-08 09:30:11 | Ethereum | Role granted | PROPOSER_ROLE · 0xb608…7e89 | [0x488a…ae52](https://etherscan.io/tx/0x488a920aee6588657acefbb2ab9f78945bd2a1b89f3e640cbc588197787bae52) |
| 2025-09-08 09:30:11 | Ethereum | Role granted | TIMELOCK_ADMIN_ROLE · 0xe3ee…1852 | [0x488a…ae52](https://etherscan.io/tx/0x488a920aee6588657acefbb2ab9f78945bd2a1b89f3e640cbc588197787bae52) |
| 2025-05-13 20:48:23 | Ethereum | Ownership transferred | 0x875c…bc6a → 0xb608…7e89 | [0x0f2c…fe0c](https://etherscan.io/tx/0x0f2cdf4cda051e003e8b3e8ec1361e2c0972f986523c570e8f1b7e6e3676fe0c) |
| 2025-05-06 19:32:11 | Ethereum | Signer removed | 0x6455…3066 | [0xba25…66ee](https://etherscan.io/tx/0xba2516042439197a21ed160648ec31aebf5c354035cd21c79cc9adba16fe66ee) |
| 2025-05-05 21:06:23 | Ethereum | Signer added | 0x8003…2e5f | [0x082f…8a62](https://etherscan.io/tx/0x082f0effa0c5711aed7e958dfe398f9ce038ffc7c8476fdee81b24aee0228a62) |
| 2025-05-05 21:06:23 | Ethereum | Signer removed | 0x0229…85a1 | [0x082f…8a62](https://etherscan.io/tx/0x082f0effa0c5711aed7e958dfe398f9ce038ffc7c8476fdee81b24aee0228a62) |

**Show 6 earlier events**

| Time (UTC) | Network | Event | Details | Transaction |
|---|---|---|---|---|
| 2025-05-05 21:03:59 | Ethereum | Multisig set up | Signers: 4 · threshold: 1 | [0x761c…cc2f](https://etherscan.io/tx/0x761ca38e5153ac7043e4141b4d94fd5d9337f3d84382d72cc4b0783cfcd4cc2f) |
| 2024-09-04 18:03:11 | Ethereum | Implementation upgraded | 0xd499…8455 | [0xf049…80f6](https://etherscan.io/tx/0xf04945ade78d60b72e8af525767c50d142558fb5af31a09a4c5fe124f49880f6) |
| 2024-02-08 14:09:35 | Ethereum | Ownership transferred | 0xa081…facc → 0x875c…bc6a | [0xc590…9134](https://etherscan.io/tx/0xc590d85f2f97bc7ea9e74ea61b8b1f9127c984873990f8639cca8848ca399134) |
| 2023-12-01 11:25:59 | Ethereum | Proxy admin changed | 0x0000…0000 → 0xbf25…0aac | [0xc42c…bdc7](https://etherscan.io/tx/0xc42c47e97ff8b449371fd3ace5087692ed3736195cf37d41d9617da50432bdc7) |
| 2023-12-01 11:25:59 | Ethereum | Implementation upgraded | 0xefed…b084 | [0xc42c…bdc7](https://etherscan.io/tx/0xc42c47e97ff8b449371fd3ace5087692ed3736195cf37d41d9617da50432bdc7) |
| 2023-12-01 11:19:11 | Ethereum | Ownership transferred | 0x0000…0000 → 0xa081…facc | [0x75b0…88c1](https://etherscan.io/tx/0x75b0f2b0182c9a2b271ec2a22125bf8483f96ac8f1712bf5564fd35ac87088c1) |

## Leadership

- [Dennis Dinkelmeyer](https://galactic.inc/analytics/people/dennis-dinkelmeyer/) · Co-Founder and Chief Executive Officer
- [Fabrice Grinda](https://galactic.inc/analytics/people/fabrice-grinda/) · Co-Founder and Executive Chairman
- [Romain Bourgois](https://galactic.inc/analytics/people/romain-bourgois/) · Co-Founder and Chief Product Officer
- [Jonathan Chevalier](https://galactic.inc/analytics/people/jonathan-chevalier/) · Chief Technology Officer

## Contracts

| Address | Asset |  |
|---|---|---|
| [0xdd629e5241cbc5919847783e6c96b2de4754e438](https://galactic.inc/analytics/mtbill/ethereum/0xdd629e5241cbc5919847783e6c96b2de4754e438/) | Midas US Treasury Bill Token mTBILL | [Etherscan](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438) |
| 0xDD629E5241CbC5919847783e6C96B2De4754e438 | Midas US Treasury Bill Token (Base) | [BaseScan](https://basescan.org/token/0xDD629E5241CbC5919847783e6C96B2De4754e438) |

## Top 10 holders

| # | Address | Balance |
|---|---|---|
| 1 | [0x0ddf9bae2af4b874b96d287a5ad42eb47138a902](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0x0ddf9bae2af4b874b96d287a5ad42eb47138a902) (Ethereum) | 20,000,000.00 |
| 2 | [0x0461bd693cae49be9d030e5c212e080f9c78b846](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0x0461bd693cae49be9d030e5c212e080f9c78b846) (Ethereum) | 18,798,543.17 |
| 3 | [0xfeb5d8a6e71126529a2dca33fe0a9ca291ded0b6](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0xfeb5d8a6e71126529a2dca33fe0a9ca291ded0b6) (Ethereum) | 10,299,825.58 |
| 4 | [0xee382068364ed944d72183cdf83de5630db59ccb](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0xee382068364ed944d72183cdf83de5630db59ccb) (Ethereum) | 8,885,874.41 |
| 5 | [0x44b0440e35c596e858cea433d0d82f5a985fd19c](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0x44b0440e35c596e858cea433d0d82f5a985fd19c) (Ethereum) | 6,028,048.85 |
| 6 | [0x438b83f1d75494020eeb0be4ee7656747263a507](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0x438b83f1d75494020eeb0be4ee7656747263a507) (Ethereum) | 2,289,225.49 |
| 7 | [0x14feca41fb9541fd8f61a6ba6304c5b706709fca](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0x14feca41fb9541fd8f61a6ba6304c5b706709fca) (Ethereum) | 1,747,430.85 |
| 8 | [0x74a910bc7a6d013d1c3d5b9a7e3768613883a6ef](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0x74a910bc7a6d013d1c3d5b9a7e3768613883a6ef) (Ethereum) | 638,894.53 |
| 9 | [0x946b169f72832160ebd65aaaa7b8c6ea680d5e0b](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0x946b169f72832160ebd65aaaa7b8c6ea680d5e0b) (Ethereum) | 466,792.03 |
| 10 | [0xc1af89ddb8839804ff5221557464db25fbff346e](https://etherscan.io/token/0xdd629e5241cbc5919847783e6c96b2de4754e438?a=0xc1af89ddb8839804ff5221557464db25fbff346e) (Ethereum) | 148,953.48 |

## Frequently asked questions

**What is mTBILL?**

mTBILL is a Midas-issued token that provides investors with tokenized exposure to the Federal Reserve's risk-free rate. Each token represents one share in the BlackRock Treasury Bond fund holding short-dated U.S. government debt.

**Who issues mTBILL?**

Midas issues the mTBILL token.

**How is the mTBILL price on this page determined?**

The price is determined by the Midas mTBILL/USD price source.

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