So let's summarize a little for the sake of it:

- Totally Centralized coin.
- 1% Transaction Tax! (Even worst than premine)
- They use 90%+ of your Hashpower to mine some random coin with value (LTC and other scrypt, but basically LTC).
- Then They Pay you back with a coin Midascoin, with no market value (at best 1/2 of the value, you would have if you were mining LTC directly).
- With 1 market/exchange, 1 Pool, only till the end of time (theirs of course).

Something missing?