Buyback Engine
Last updated
Last updated
The protocol automatically exchanges all captured fee values for its native MINTY token which it distributes to protocol users who participate in protocol governance. Users need to participate in governance at least once every 12 months to continue staking and earning rewards. When opting to participate in governance, Minterest token holders stake their MINTY tokens in the protocol’s governance processes. Staked MINTY enables voting rights on key proposals where the number of tokens a user stakes determines the voting weight for each user.
The buyback weight is determined by the amount of MINTY a user has locked in the Minterest protocol. The MINTY balance consists of three types of MINTYs:
Withdrawable MINTYs earned from Standard emissions
Withdrawable MINTYs earned from Buyback
Manually staked MINTYs (i.e., deposited)
Please note that users must also have "Participate in Governance" turned on.
The total sum of the MINTYs mentioned above is used to calculate each user's buyback weight in comparison to the entire buyback weight of all users participating in governance.
Additionally, there is a loyalty boost program. Each user earns loyalty based on the duration of their participation and their MINTY balances locked in the protocol.
The outcome of the loyalty boost is added directly on top of each user's buyback weight in terms of percentage. For example, if a user has an MINTY balance of 10,000, which represents a 1% buyback weight in a total balance of 1 million MINTY, and the same user has a loyalty boost of 6%, their MINTY balance would increase to 10,600. Consequently, the new buyback weight would be 1.06%.
How do I claim/withdraw Emissions rewards?
All buyback rewards are subject to a 12-month unlock, block by block, on the Ethereum network. On your "Dashboard", under the section "MINTY Rewards" the number of MINTY earned will be displayed. Of these, the MINTY which have been unlocked, and can be withdrawn, will be displayed under the "Minterest balance." Click on the "Withdraw" button and follow the prompts to claim your MINTY.
