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This page has been created to address your recent community questions.
Minterest’s operations are now streamlined under the leadership of core team members including:
Kyn Chaturvedi: Strategy
Denis Romanovsky: Technology
Veiko Krünberg: Marketing
Martti Kullang: Product
Minterest retains its essence - the brand, the audited technology, and its core team members. Minterest's online properties will soon be reactivated. The protocol has also continued to function uninterrupted from launch, facilitating ongoing lending and borrowing activities.
Minterest Labs, the previous proprietor, raised capital through two private rounds and an LBP, which was fully utilised for developing the project.
We are unable to provide refunds. Following the disengagement of Minterest Labs, our team has focused intensively on reorganising the project. This includes significant restructuring, securing intellectual property rights, and procuring necessary financial support for the continued development and growth of the Minterest protocol.
We value all Minterest stakeholders and our approach will be based on consistent delivery and open communication. We aim to maintain a constructive dialogue, balancing respectfulness and collaboration, even in the face of differing perspectives.
Minterest’s updated roadmap will be announced and shared across subsequent updates that will cover product highlights, Minterest NFTs, token vesting, supported token markets, DAO, and more.
As part of the ongoing restructuring and product development roadmap planning, we have temporarily reduced Minterest emissions. It is important to note that existing smart contracts will continue to be utilised, allowing liquidity providers to maintain their current positions without disruption.
Regarding net APY calculations, tokens allocated for emissions are distributed evenly across all markets, so the resulting APYs are determined by each market's liquidity volume. Therefore, a market with higher liquidity will have lower APYs, since the same number of tokens is dispersed over a larger liquidity pool.
Yes. We are currently updating the token contract to enable us to assist community members in changing their receiving wallet addresses. More information on this matter will be provided shortly.
For our community, Private Access should be thought of as an important event held within the Private Launch. However, for external parties, many of whom are unaware of Minterest, it serves as a starting gate to excite them and onboard them for the first time.
Minterest emissions and staking rewards are currently reduced as the team is reorganising and preparing for Private Access. During Private Access, staking rewards will return to earlier levels, and emissions rewards will be ramped up to even higher levels than experienced back in February when the Private Launch began. These changes will occur only during the Private Access window.
There is more in the works to be added to Private Access, which will be revealed closer to this special event.
There is no planned downtime on the Minterest Protocol moving into Private Access. Users holding Minterest NFTs can continue to supply and borrow.
Yes, all rewards earned are honoured moving into Private Access. No action is required.
All CAE/LBP participants who chose not to Lock & Load have had their governance tokens staked since February 2023 and will continue to earn rewards moving into Private Access and beyond.
All users who participated in Lock & Load are receiving double allocations, currently under a cliff. This allocation will not begin earning staking rewards until the 12-month smooth unlock period begins in February 2024. At which point, any claimable amount will be auto-staked and will begin earning staking rewards.
Success for Minterest lies in attracting TVL. As our community knows, launching on Ethereum entails high gas fees, limiting participation to a select group of liquidity providers with greater capital.
Our approach to onboarding liquidity starts with business development, working behind the scenes to bring onboard quality partners. Once onboarded, it stands as a testament to confidence, facilitating further conversations with potential parties.
Growing TVL on Minterest becomes a beacon, supporting both our business development efforts and public discourse that can naturally attract significant market players. With Minterest now publicly active again and community channels reopened, business development activities are in full swing.
What is fundamental is the due diligence process that potential partners undertake. They seek quality signs not only in the project's fundamentals and investor base but also in the community. They desire a community that is truly engaged and knowledgeable about Minterest's value, focusing on constructive discourse rather than mere price chatter and superficial discussions. Your thought-provoking questions here are vibrant examples of what we strive for.
In terms of increasing our community's size, ecosystem building is key. Integration into wallets, online trackers, DeFi aggregators, NFT Marketplaces, and more provides an organic approach to attract new users. This strategy aligns with our long-term perspective on community growth, offering depth that short-term PR campaigns may not achieve.
That said, Minterest will run an external marketing campaign, timed to yield the greatest return on investment, coinciding with the Public Launch when the token becomes transferable and listings begin.
Listings are valuable events that can demonstrate organic demand, but only after building momentum. Minterest is in the process of rebuilding this momentum, and we must first highlight interest in the product through actual use. Otherwise, our perspective is that listing the token prematurely would not instil confidence in the market and might work against the interests of Minterest stakeholders.
Last modified 3mo ago