Introducing The Midas Attestation Engine

At Midas, transparency is not a feature, it is the foundation of what we do. We have always believed that investors in onchain financial products deserve more than dashboards and disclosures. They deserve proof. Not just visibility into what we say is happening, but cryptographic, independently verified confirmation that it actually is.

Today, we are proud to announce the Midas Attestation Engine: a specialized smart contract framework, built in close collaboration with Chainlink, LlamaRisk, vlayer, and Canary, that enables critical financial data to be converted into permanently anchored, onchain-verified checkpoints. It is the most significant step we have taken toward making trust programmable.

Why We Built This

Our real-time dashboards provide continuous visibility across our products, starting with mHYPER and rolling out to all others over the coming weeks. They are valuable, and we are committed to maintaining them. But live systems, by their nature, can experience latency, synchronization delays, or temporary inconsistencies. Continuous does not always mean authoritative.

The Attestation Engine was designed to address exactly this gap, designed to act as an independent trust layer for all Midas investment products. It does not replace real-time reporting, it complements it, providing periodic, high-integrity checkpoints that anyone can independently verify at any time. By processing everything from Net Asset Value (NAV) and proof of reserves to smart contracts integrity check, the engine creates a permanent, tamper-proof audit trail.

"Real-time reporting delivers visibility. Attestations deliver trust anchors. Together, they define a new standard for what transparency in onchain finance can look like."
– Romain Bourgois, CPO at Midas

How it Works

I. Claims

A claim is a structured piece of data sourced from a verified origin. A claim might be a Net Asset Value figure from a valuation agent, a portfolio statement from a service provider, or a risk disclosure delivered via a notarized email. Claims can originate from APIs, blockchain endpoints, internal monitoring systems, or legal counterparties. If the data matters to investors, it can be formalised as a claim.

II. Attestation

One or more related claims are bundled into an attestation. This structured bundle includes timestamps, metadata, and predefined validation logic. It is then published onchain via Chainlink Runtime Environment (CRE), using attestation workflows designed in collaboration with LlamaRisk, ensuring the publication process follows a transparent, decentralised workflow, and stored permanently on IPFS. The result is a machine-readable, immutable checkpoint that investors, integrators, and risk frameworks can consume programmatically.

III. Independent Verification

After publication, each attestation undergoes independent review. Third-party verifiers (as LlamaRisk or Canary) inspect the original source material (as notarized emails, monthly PDF reports, and raw data feeds preserved on IPFS)  and confirm four things onchain:

1. Source legitimacy: the data originated from a known, approved counterparty.
2. Workflow integrity: the correct publication process was followed, without deviation.
3. Data fidelity: the underlying data was not altered by Midas at any point in the attestation process.
4. Accuracy validation: the underlying data is validated against external sources where applicable.

These verifications are recorded onchain, permanently tied to their corresponding attestations, while vlayer handles cryptographic notarization of source documents so they can be publicly inspected. The result is an objective, cryptographic audit trail.

A General-Purpose Engine

The Attestation Engine was designed to be deliberately general. It is not limited to Net Asset Value (NAV) disclosures or proof of reserves. Any structured information that matters to investors, curators, or risk managers can be transformed into a verifiable attestation:

• Financial: NAV calculations, asset backing, collateralisation levels, off-chain portfolio statements
• Operational: Workflow confirmations, service provider sign-offs
• Technical: Smart contract parameter states, monitoring alerts, onchain protocol data
• Legal & Compliance: Risk committee approvals, legal confirmations, regulatory disclosure

The engine is extensible by design. As our product suite grows and as the demands of onchain finance evolve, the Attestation Engine can accommodate new feed types without restructuring its core architecture.

Built With Best-in-Class Partners

We did not build this alone. The Attestation Engine is the result of close collaboration with Chainlink, LlamaRisk, vlayer, and Canary.

LlamaRisk co-developed the SAVE verification framework and the core attestation architecture, and also serves as an independent onchain verifier. Chainlink Runtime Environment (CRE) provides the decentralised attestation building and publication infrastructure that ensures attestations are broadcast through a predefined, transparent onchain workflow. vlayer powers the cryptographic notarization of source documents (like email disclosures) preserving their content and timestamp so they can be publicly inspected. And Canary provides independent verification capacity, reinforcing the credibility layer of every attestation cycle.

What This Means For Investors

For investors in Midas products, the Attestation Engine changes the nature of the trust relationship. Historically, investors in financial products have had to take disclosures largely at face value,  trusting that internal controls are working, that nothing has been altered between source and statement.

Every attestation is an onchain, independently confirmed record that anyone, an investor, an integration partner, a risk curator, a protocol, can inspect, query, and build upon.

This is the transparency model we believe onchain finance deserves: not just visibility, but provability. Not just reporting, but verification.

Explore the Attestation Engine

Ready to explore the data? Visit our Transparency Dashboard to see the latest attestations live onchain, or review our technical documentation to learn more about the details of the Attestation Engine.

About Midas

Midas is a platform for composable onchain investment products. It enables asset managers to turn institutional strategies into regulatory-compliant tokens that offer investors full transparency, instant redemptions, and native composability across DeFi.

Founded in 2024 by Dennis Dinkelmeyer (formerly Goldman Sachs), Fabrice Grinda (FJ Labs), and Romain Bourgois (formerly Ondo Finance), Midas is backed by leading investors including RRE, Creandum, Framework Ventures, HV Capital, Ledger Cathay and Coinbase Ventures. To date, Midas has powered over $1.7B in asset issuance and paid out $37M in yield.