AMA Answers 2⁄2

Recap of the Telegram AMA with Minterest CEO, Kyn Chaturvedi

Host 🎙️ OK. That explains where the focus has been…

Many will also want the current realities, especially finances and what comes next.

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Kyn 👤 Right. The project has never been a smooth ride, and I’ll admit the delays have almost become a bit of a meme at this point.

That said, sharing our challenges and strategic decisions at key moments has always been important to us.

That said, we recently parted ways with our primary strategic investor.

Their involvement helped us through a critical recovery period after the security breach, but as we refined our direction toward product-market fit, they were facing financial challenges of their own and needed to take a step back.

The situation has placed considerable pressure on finances so we have been running as lean as possible, streamlining costs wherever possible while keeping the core development and operational functions active.

We are exploring new financing avenues, including partners involved in the pilots that are being developed mentioned above.

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Host 🎙️ Ok. But what does that then mean for the community?

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Kyn 👤 This is not the first time we have been placed in such a situation, and while it can be overwhelming, this is an aspect of being a startup with really tight finances.

That said, yes we are operating under financial strain and are also working to find a viable path. Our focus is to sustain progress while seeking the right backers to extend runway and scale toward TVL targets that allow the protocol to operate self sufficiently.

During this period, the product continues to function as intended. The protocol maintains over 1 million in supplied liquidity. Lenders are earning yield and MNT rewards on Mantle Network. The technology is stable and secure.

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Host 🎙️ And what if new capital or partnerships do not materialise?

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Kyn 👤 We will evaluate all options, and are, Admin. Whether it's funding, doing development services, acquisition, etc. The list of options does include a potential wind down if attempts at generating the necessary runway becomes impossible. To be clear, that is not the outcome we want. The team is working to avoid it, but it is important to be upfront.

The people behind Minterest continue to contribute because they believe in what has been built and in the potential that remains.

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Host 🎙️ Got it Kyn.

And we absolutely do believe in the project. Last time I checked there are over 500+ lending protocols. Not one (afaik) has built similar architecture.

Is there anything else you want to share or shall we move to the community Q and A?

Some for example will ask why this is the first time they are seeing these products and pilots?

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Kyn 👤 Much of what we’ve shared today involved ongoing work with partners and potential investors that was under confidentiality restrictions.

We actually had to request permission from those partners for this AMA so we could share some of the details publicly for the first time, and they agreed.

Announcing things earlier would have risked breaching those agreements or misrepresenting work still in progress.