Blog

Month	1	6	12	18
On-Market Supply	1,780,938	2,162,165	3,538,364	14,279,624
Minterest	3,612,915	6,456,115	9,786,404	15,574,119
Whitepaper 1.2	5,393,853	8,618,280	13,324,768	29,853,742
Whitepaper 1.1	10,513,873	23,080,738	38,160,975	46,490,713

Month	1	6	12	18	24	30	36	42	48	54	60
On-Market	1,780,938	2,162,165	3,538,364	14,279,624	24,080,576	26,678,958	29,277,339	30,768,052	32,258,765	33,749,478	35,240,191
Minterest	3,612,915	6,456,115	9,786,404	15,574,119	21,372,886	27,160,601	32,959,368	36,437,798	39,468,625	41,936,968	44,405,310
Whitepaper 1.2	5,393,853	8,618,280	13,324,768	29,853,742	45,453,462	53,839,559	62,236,707	67,205,850	71,727,391	75,686,446	79,645,502
Whitepaper 1.1	10,513,873	23,080,738	38,160,975	46,490,713	54,820,450	62,537,875	70,255,300	77,972,725	85,690,150	92,845,090	100,000,030

Month	1	6	12	18	24	30	36	42	48	54	60
On-Market	1,780,938	2,162,165	3,538,364	14,279,624	24,080,576	26,678,958	29,277,339	30,768,052	32,258,765	33,749,478	35,240,191
Minterest	3,612,915	6,456,115	9,786,404	15,574,119	21,372,886	27,160,601	32,959,368	36,437,798	39,468,625	41,936,968	44,405,310
Whitepaper v1.2	5,393,853	8,618,280	13,324,768	29,853,742	45,453,462	53,839,559	62,236,707	67,205,850	71,727,391	75,686,446	79,645,502
Whitepaper v1.1	10,513,873	23,080,738	38,160,975	46,490,713	54,820,450	62,537,875	70,255,300	77,972,725	85,690,150	92,845,090	100,000,030

Month	1	6	12	18	24	30
On-Market	1,780,938	2,162,165	3,538,364	14,279,624	24,080,576	26,678,958
Minterest	3,612,915	6,456,115	9,786,404	15,574,119	21,372,886	27,160,601
Whitepaper v1.2	5,393,853	8,618,280	13,324,768	29,853,742	45,453,462	53,839,559
Whitepaper v1.1	10,513,873	23,080,738	38,160,975	46,490,713	54,820,450	62,537,875

Month	36	42	48	54	60
On-Market	29,277,339	30,768,052	32,258,765	33,749,478	35,240,191
Minterest	32,959,368	36,437,798	39,468,625	41,936,968	44,405,310
Whitepaper v1.2	62,236,707	67,205,850	71,727,391	75,686,446	79,645,502
Whitepaper v1.1	70,255,300	77,972,725	85,690,150	92,845,090	100,000,030

Twitter handle	Last 5 characters of wallet ID	Levels awarded
MalisDima	81DDD	12
edervr84	E00eF	12
	1F28d	12
ojofirme	4b552	12
JeongSunKim3	7756F	12
hangome_sol	78d59	12
DD2007Z	fa897	12
AlexandrBelyan1	d0Cd6	12
Yois32015394	2213E	12
okay_k__	90c46	12
@kokomploker	567Cf	11
you425you	30 e40	11
FFjQheaZweYXVGN	46AEc	11
cryptoice2	74B42	11
LaDucHoan	83c6c	11
JackyHa36068678	708Ef	11
	46C12	11
Hamsal1	A9C0b	11
@xemo89	F9595	11
renwirya	1EE11	11

Twitter handle	Last 5 characters of wallet ID	Levels awarded
KryptoManiaK400	3f886	12
	1cF6C	12
ALatyp	1c702	12
NhanAres	d31Db	12
erncrest82	eE093	12
	ef314	12
shekharmishra51	B7f4a	12
balevser	9c340	12
pontashiki	be57e	12
@keimabi	9A838	12
ncatalinpop	5CC93	12
@kobel_maria	C4340	12
kittipooh_	c094f	12
icx100	80A3D	12
	51F2C	12
Thanach40713989	D511D	11
@MarianaUdroiu	adCcB	11
bothu123	bE520	11
wook6850	FFA55	11
blitzlabsPat	420da	11
	e32BF	11
@Mr_Slicey	2bC2b	11
@avasilyevv	6DDC7	11
I_am_KRiCH	866c7	11
yesmola0704	1175E	11

Twitter handle	Last 5 characters of wallet ID	Levels awarded
@KohlrabiLike	16051	10
@JohnnyM42758084	0D556	10
@otto_artena9	ae30d	10
	40eD0	10
@CruptoG	76B90	10
@johnnyhhhhhhhh	b1dB6	10
@LaDucHoan	83c6c	10
	F41f8	10
@Peter_Yang97	314d7	10
@737709674Com	73aC4	10
	51F2C	10
@Henryjhh_eth	67757	10
@Przemys56212944	65fC5	10
@MetaJay0	beF76	10
@glCVjvaDJDhgTwO	04214	10
	865e1	9
	F156d	9
@ichohan2002	8cd99	9
@damiddong	5A8f8	9
	a4B57	9
@kennop91	c1A9a	9
@ice_wine_tea	9F32A	9
@itanishqgupta	aed9A	9
@ANDREI85432322	1f248	9
@GPayeer	84b0C	9

Twitter handle	Last 5 characters of wallet ID	Levels awarded
@cryptofan311	c021c	8
@NuiAC125	85090	8
@Mr_Crypto5	E3243	8
@joepurackal	21D2A	8
@mikededurable	A88A2	8
@sallytorilak	86A67	7
	5D75e	7
	091Ac	7
@kbnoh6	6c001	7
@cos_pai	0026e	6
	81463	6
@moonsik77	134A5	6
@coolstick7	df585	5
@9UFoTo5TQdv7NrE	50191	5
@CriptoCeelo	d0Bac	4

Serial Number	Discord ID
1	guardianangel73#5149
2	scoobygti#6158
3	tblaze#2311
4	eat10#2184
5	jesam84#4130
6	kajuvra77#5307
7	HUNO#0785
8	borand88#7866
9	BM#3453
10	Baldie9111#7598

Serial Number	Discord ID
1	francesco#1023
2	Dautik#3241
3	quintets#3623
4	narcis93#7666
5	Grigore#5006
6	Princess Binnie#4127
7	bartek0210#5843
8	BeeFault#9337
9	SG_Crypto_Dad#0376
10	Name: Michael

Serial Number	NFT Level	Wallet adress
1	Level 8	1411a
2	Level 8	6570e
3	Level 8	c88fa
4	Level 8	be520
5	Level 7	be2dd
6	Level 7	f03eb
7	Level 7	2a7c1
8	Level 6	48836
9	Level 6	3903b
10	Level 5	ed8b0

Tier	NFT Totals	Emission Boost	Expiry (Mth)	NFT in Lottery Pool
1	1	50	36
2	9	45	30
3	15	42.5	28
4	30	40	26	1
5	60	37.5	24	2
6	90	35	22	3
7	120	30	20	4
8	150	27.5	18	5
9	175	22.5	12	10
10	350	20	9	15
11	960	20	6	20
12	1040	20	3	25

Tier	NFT Totals	Emission Boost	Expiry (Mth)
1	1	50	38
2	9	45	32
3	15	42.5	30
4	30	40	28
5	60	37.5	26
6	90	35	24
7	120	30	22
8	150	27.5	20
9	175	22.5	14
10	350	20	11
11	960	20	8
12	1040	20	5

Lottery tickets per signup	Signup date	Lottery tickets per signup	Signup date	Lottery tickets per signup	Signup date
20	03/11/2021	13	10/11/2021	6	17/11/2021
19	04/11/2021	12	11/11/2021	5	18/11/2021
18	05/11/2021	11	12/11/2021	4	19/11/2021
17	06/11/2021	10	13/11/2021	3	20/11/2021
16	07/11/2021	9	14/11/2021	2	22/11/2021
15	08/11/2021	8	15/11/2021	1	22/11/2021
14	09/11/2021	7	16/11/2021	0	23/11/2021

A tokenomics update: January, 2023
Minterest HODLers will receive a 51.7% uplift in their proportion of total circulating supply due to a tokenomics update announced today.
A streamlined improvement of Minterest tokenomics will result in a total circulating supply reduction from 100 million MNT to just less than 66 million. Emissions now occur largely over 5 years, with only 1.3% of supply via Standard Emissions, vesting over the 6th year.
The streamlined, more efficient tokenomics achieves all of Minterest’s original design needs; allowing the protocol to develop a fully self-sustaining, self-funding token economy.
Users retain all their MNT allocation
All MNT holders retain the same number of tokens. The marked reduction in circulating supply delivers a major boost to all current allocations, since the proportional value of existing token allocations has increased by over 50%.
Lock & Load
Supporters who opted into Lock & Load reap extra benefits. With the tokenomics update, allocations doubled with Lock & Load add a further 51.7% increase to their relative, newly doubled value.
Minterest’s self-sustaining model is better than ever
Nothing in the revision changes the long-term goal – to create a sector-leading, self-sustaining DeFi protocol. The changes tighten tokenomics, shorten the overall emissions schedule, and generally make things simpler and easier to understand.
Josh Rogers CEO of Minterest said, “After taking a short Christmas break, I reviewed tokenomics with fresh eyes and realised Minterest could achieve the same result more efficiently while delivering a great result for Minterest supporters. My only regret is I didn’t see it earlier.”
Launch Schedule
Updating the tokenomics requires amendments to the protocol’s vesting contracts. Private Launch will be rescheduled next month to enable this to occur. The final date depends on completion of Minterest’s final security audit, now expected to occur in the latter half of February.
The revised Private Launch schedule only marginally impacts other key roadmap events, like the protocol’s DAO and final interface roll-out and Minterest’s Public Launch, which are progressing to schedule.
Commenting on Minterest’s schedule, Josh Rogers stated, “After more than 2 years, 50,000 hours and 15 million build cost, Minterest is essentially complete. It is heads and shoulders above anything previously conceived, a true standout for DeFi. Streamlining tokenomics just as FUD moderates across the sector places Minterest in a powerful position heading towards launch.”
Minterest: Yield Gets Real.
Tokenomics Jan 2023

19, January 2023
2022 marked a year of dramatic developments at Minterest. The protocol switched chains, never a small endeavour, making the jump from Moonbeam to Ethereum. Broader market developments forced major shifts in Minterest’s launch and product cycle, delaying its intended unrefined early launch strategy to deliver instead a finalised, highly advanced protocol feature suite.
The year finished with a flurry of activity, including revisions of Minterest’s tokenomics. All together, it’s no surprise the Minterest team has poured more than 50,000 hours into the project since inception, with Minterest now the most extensive, most secure code base ever conceived in DeFi.
So, what went down last year exactly? Here is a selection of key milestones in 2022.
Early 2022: Planning to launch
As 2022 began, Minterest was in the middle of community-focused fundraising events. The Community Allocation Event (CAE) took place in late January, and allowed supporters to secure MNT token allocations up to 500 USDC at the lowest price in the upcoming Liquidity Bootstrapping Pool (LBP).
That event was quickly followed by the LBP, which in February raised over $5.5 million to support continued bootstrapping of the protocol. Together, the CAE and LBP provided crucial early support for the protocol and established an ever larger base of supporters.
Early-to-mid 2022: Major market shift
In late February, Russia’s invasion of Ukraine played into emerging macro-economic factors, which together saw market sentiment decline significantly. Hindsight showed the broader crypto market cap had peaked in November 2021 and by early April 2022 was beginning to face stiff headwinds.
Minterest planned to launch on Moonbeam, but increasing instability in the sector combined with Ethereum’s continued DeFi dominance, caused the switch to Ethereum in April 2022, a critical strategic decision. It resulted in extensive unforeseen development work, but the decision has been applauded ever since.
In May, the crypto crash, aka the Do Kwon Krash, began with the infamous Terra/Luna implosion. The algorithmic Terra USD stablecoin lost its peg and Luna’s value plummeted from over $100 to mere fractions of a cent.
The Terra/Luna fiasco was not completely unforeseen. Josh Rogers, Minterest’s CEO, won a bet Luna would go to a zero with 2 decimal places in 2022, arguing for months prior that the Luna/UST architecture would be attacked. What no one saw coming was the brewing macroeconomic negativity that turned Luna’s implosion into a match which ignited crypto’s sector-wide collapse.
Minterest did not sit idly by during these events. A constant stream of information came from key players, including CEO Josh Rogers and COO Kyn Chaturvedi, with regular AMAs and community discussions held on Discord and social media to keep supporters informed.
Minterest responded rigorously to the changing market conditions. First and foremost, that meant reappraising not just the launch schedule but the overall protocol product strategy. Doing so protected the interests of all token holders investors while ensuring the protocol’s best chance of success.
A snapshot of fundamental improvements the team worked over the year include:
Revised token emissions structure and tokenomics
A new, highly sophisticated feature suite
Extensive additional auto-liquidation developments
Brand-new, DeFi first UX and UI features
The team also unrolled Lock & Load, a key opportunity to reward early supporters who participated in the CAE and LBP events at the start of the year. Lock & Load was a unique chance for such supporters to double their MNT token allocation in return for locking up their MNT for a year and vesting them over the following 12 months. The offer was hugely successful, with over 600,000 tokens or more than 50% of eligible participants taking it up.
2022 into 2023: Building a better DeFi
Where does that leave Minterest today?
Key token markets deployed
Whitelisted access to key features for product testing
Lock & Load concluded in December, with over 50% acceptance for eligible tokens
4th security audit completed
5th security audit on the way
Full functionality rollout and NFT access early 2023
Public launch early in 2023
Despite the carnage of the broader crypto market, Minterest has never panicked. The bear market has separated, and continues to do so, the good from the bad, with the opportunity now open for new projects with strong fundamentals to emerge and stake a claim for dominance as the cycle resets.
DeFi is evolving. Its new reality means hyper-inflationary token emissions are no more. This has allowed sound, sustainable projects to now develop and flourish, which will be the building block of the next generation of DeFi, with Minterest leading the way.
Minterest. Yield gets real.
12, January 2023
From Josh Rogers, CEO of Minterest
Hello everyone,
It is great to announce Minterest’s next phase of its launch schedule. It has taken 50,000 hours of development over more than two years to get to this moment, so it is a key milestone in Minterest’s journey.
Protocols with hyper-inflationary models everywhere are falling by the wayside. DeFi is crying out for a self-sustaining protocol that creates real value for users. The only question asked now is the only one that matters; ”How does long term underlying value get created?” for which Minterest has DeFi’s strongest answer. Minterest’s journey has had its moments but is here at exactly the right time to deliver that outcome.
When it comes to Minterest, sustainability is something we obsess over. Very recently the dev team discovered a new calculus methodology for emissions rewards, I personally think it’s mathematical genius, which drastically reduces gas costs. The benefit to protocol sustainability is simply too great to ignore. So while token markets launch in a few days on December 19, the extended feature suite, including emissions and vesting, will happen now in mid-late January so the new calculation methodology can be coded in.
To ensure Lock & Load participants are no worse off the vesting cliff has been reduced by a month. It also means the protocol will be secured by 5 pre-launch security audits, which has got to be a record for any project! For more detail, Minterest’s Whitepaper and Technical Paper have been updated to explain it.
The January phase of Minterest’s Private Launch allows exclusive access to NFT holders. If you have an NFT you can supply, borrow and stake to take advantage of emission rewards, which given restricted user access, will likely be significant. Expect to also see Minterest’s gorgeous new brand identity begin to roll-out, as well the first stages of the new user dashboard design and mobile-friendly app.
Private Launch Roadmap
Dec 19
- Money markets launch, with final internal testing
- New product design and dashboard updates introduced
Early January
- Money market access expands to include select partners
- Testing with select partners and their feedback
- New emission calculation code complete
- Fifth security audit completes
Mid – Late January
- Extensive feature suite is launched
- Auto-liquidations roll-out
- MNT token minted and distributed
- Emission rewards initiate
- Vesting initiates for MNT holders, including Lock and Load participants
- NFTs minted and distributed, allowing holders protocol access for
- supply and borrow in token markets
- Standard Rewards
- NFT Rewards
- auto-staking in governance
- Governance Rewards
Late February
- Protocol governance introduced
- Voting capability launched allowing MNT holders to vote (even if with a vesting cliff)
- Enhancements to user dashboard introduced
- Additional technical optimisations to the liquidation engine introduced in preparation for public launch
I want to thank everyone in Minterest’s village of supporters, from individual community members to private investors, for your solid support. 2023 will be a tough year for many boom oriented projects but unlike them, Minterest was built for this moment. It is why we intend next year to instead be a year of opportunity.
Thank you again so much for your partnership in getting Minterest here.
Josh Rogers
CEO
Minterest
14, December 2022
For DeFi to fulfill its promise and powerfully contribute to the financial world’s mainstream it must deliver absolute reliability over time. That means total security in everything from liquidity provision to third party integrations.
Security gets delivered in numerous ways, but it starts with rock solid smart contracting architecture designed with a minimum of external contact points to prevent exploit potential. In almost all cases, the KISS principles applies; Keep It Simple Stupid. A lack of inter-relationships between protocol assets is also essential, as it reduces vectors for economic attacks.
Security also relies on token markets maintaining deep liquidity over time, because low liquidity in specific pools is a factor in almost all economic attacks. A lending protocol, like any financial application, must de-risk such events well in advance as changing circumstances warrant. Waiting till later is simply never an option.
Rigorous, independent security audits are fundamental and confirm a secure, high-quality code base. That is why Minterest has undergone four of such audits even before launching. A relentless ongoing security audit schedule is also part of Minterest’s operational future.
An effective bug bounty program brings it all together. It allows a community of blockchain savvy developers to ongoingly contribute to the protocol’s security and the value and importance of such a program cannot be overstated.
Security Audits
To date Minterest has completed four security audits by leading firms.
Trail of bits (see report here).
Hacken (see report here).
Peckshield (see report here).
Zokyo (see report here).
As is normal, all issues identified were addressed during the process.
Security audits are vital in identifying external threats and provide recommendations to address them. Essentially, when it comes to network security there can never be too many eye-balls. Security audits also apply industry standards and are important in reassuring users such safety and security standards have been met, which is key to trust.
What were the results of the security audits?
Trail of Bits (Q1 2022): identified one critical issue which was immediately addressed, as well as other non-critical items which were addressed in the later version audit report.
Hacken (Q2 2022): scored Minterest a 10 out of 10 for both documentation and architecture quality.
PeckShield (Q2 2022): found no vulnerabilities of critical or high severity levels, stating “The current code base is well structured and neatly organized. Those identified issues are promptly confirmed and addressed.”
Zokyo (Q4 2022): scored Minterest 93/100, confirming its qualification for listing on exchanges, with 98% testable code exceeding industry standard 95% and total contract security being high.
Bug Bounty Program
Minterest’s upcoming bug bounty program will incentivise and reward individuals who contribute to Minterest’s security. If you’re interested in the bug bounty a summary is at the end of this article.
What else?
Minterest also builds on the following:
In house security team.
24/7 monitoring – automated and on-call.
Treasury security with multi-sig hardware wallets.
Crisis planning with scenario processes and mitigation plans.
Security protocol for the physical safety of the wallet holders.
On-chain attack prevention measures (Withdrawals; Multisig; Governance manipulation).
Off-chain attack prevention measures (Compromising private keys; Getting access to data).
Undertaking a fourth independent audit demonstrates Minterest’s commitment to security with high scores from all auditors providing external insight into Minterest’s professional and measured approach to protocol security.
Yield Gets Real with Minterest – and that starts with rock-solid protocol safety.
09, December 2022
Security audit score
Security takes top priority at Minterest, and the protocol is subject to the highest standards of security auditing possible. In line with our mission of maintaining transparency and delivering a great product, we have engaged Zokyo to undertake an independent fourth security audit of the Minterest protocol.
Zokyo sports sterling credentials as an end-to-end security resource that provides distinguishable security auditing and penetration testing services alongside prominent vulnerability assessments. Their team consists of world-renown hackers, cryptographers, and engineers that have focused on the nuances of cybersecurity within the blockchain space since 2016. In 2018, they were ranked #1 Smart Contract Auditing firm by Forbes.
What’s Inside the Zokyo Security Audit Report?
Extract from the audit report
The goal of the audit was to verify that the contracts function correctly and with a known level of security. To that end, Zokyo checked the code line by line. Auditors also checked the code of the contracts against their own checklist of vulnerabilities, validated the business logic of the contracts, and made sure that best practices in terms of gas spendings were applied.
Zokyo Security has concluded that the smart contract passes security qualifications to be listed on digital asset exchanges, giving it an Audit score of 93.
Extract from the audit report
According to the evaluations performed by Zokyo, 98% of the code is testable, which is above the industry standard of 95%. The total contract security was high, and the contracts were well-tested and well-written.
There were two high-severity and two low-severity and informational issues found during the manual part of the audit. One of the high-severity issues was connected to unsafe contract initializations. The other one concerned the absence of swap parameters validation.
The first issue was successfully fixed by the Minterest team, while the second will be fixed later. All other issues were successfully fixed or verified by the Minterest team.
High Severity Issues
1) Possible re-initialization of the contracts
Some of the contracts did not utilize the initializer modifier from standard OpenZeppelin contracts.
Recommendation: Use the standard initializer modifier from OpenZeppelin in all contracts to ensure that the contract is initialized only once.
Status: Resolved
2) Swap parameters are not validated
DeadDrop.sol: function performSwap()
Those parameters that are packed in the ‘data’ bytes parameter are not validated. This can lead to some of the possible attacks.
Recommendation: Validate swap parameters. Validate the correctness of tokens, recipient, and the minAmountOut parameter.
Status: The fix will be implemented till the next audit revision. Until then, the contract will not be used.
Low Severity Issues
1) Pause on the Buyback might block protocol actions
Buyback.sol: function updateBuybackAndVotingWeights(), line 232. This function is called every time by RewardsHub.sol (in distributeSupplierMnt() and distributeBorrowerMnt()), which are called every time the user performs actions in MToken, such as deposit/borrow/repayBorrow, etc. Thus, in case Buyback.sol is set on pause, all the actions on the platform will be frozen as any transaction will revert.
Recommendation: Verify that protocol actions are not blocked due to the pause on Buyback.sol.
Status: A ‘relaxed’ version of function was added, which doesn’t block the protocol due to pause.
2) Validation is missing
Validation is missing in the following functions:
1) Liquidation.sol: function constructor()
2) KinkMultiplierModel.sol: function constructor()
3) MNTSource.sol: function constructor()
4) BuyBack.sol: function initialize()
Recommendation: Add necessary validation.
Status: Everything is fixed except the 4th point.
For the full version of the report, click here.
Closing Thoughts
Minterest holds to the highest levels of security in the crypto space. The broader industry has significantly stepped up measures to protect funds by employing more rigorous external and internal code audits and overall platform security processes. By undertaking a fourth security audit, Minterest has built a well-tested platform fully capable of protecting our users and customer funds in a truly decentralized manner.
06, December 2022
UI/UX design in the DeFi space has come a long way in recent months. Clunky, lacklustre user experience (UX) is on the decline. Design no longer feels like it focuses solely on developers in the space. Instead, intuitive and customer-centric user experiences are increasingly designed for retail and institutions alike.
However, just like crypto, DeFi is still in its infancy, and most users would agree that the majority of the DeFi applications out there today can be difficult to navigate. There’s a steep learning curve, information presentation can be confusing, and there are few (if any!) tools to help manage your risk.
Exceptional UX is especially important in DeFi due to its complex and multifaceted nature. With clear information and user-oriented design, Minterest aims to deliver DeFi’s best user experience.
Presenting the Minterest UX (Beta)
The Minterest Design Philosophy
Minterest began rebranding from the ground up after the collapse of the Terra ecosystem that pushed the entire DeFi space into an evolutionary ecosystem shift. At the same time, there was an opportunity to improve Minterest and position it to be among the frontrunners of the new DeFi world.
The design team revisited everything: the target market, their behaviour and needs, and the broader DeFi ecosystem, all with the goal of building a best-in-class user experience.
Here are some of the key components that came out of that effort.
Note: Minterest is in Beta right now and there will be significant design changes in the public release. More awesome things to come so stay tuned!
App Core Design
If you look at other DeFi protocols in the space, they provide very little information for you to track your investment behaviour and current status of your positions. That includes critical information for borrowers and lenders, including the result of any additional actions like re-supply or withdrawals.
To solve this problem, Minterest combines every piece of information and fits them into a compact dashboard, all in one place. With more accessible information, you can make better decisions when it comes to your investments and risk management.
Minterest positions performance metrics right in your face; the idea was inspired by a car dashboard (more about that later, surprise!). When you’re driving a car, let’s say a sports car, you have a split second timeframe to stare at the dashboard and get all the information that you need, be it RPM, Fuel, or speed levels.
The Minterest dashboard operates on similar principles. All the information, at one glance, with intuitive gauges, so you don’t feel overwhelmed trying to hop around to different sections of the application.
Colour Theme
The DeFi space right now is divided into dark/white themes. Instead of going with one single theme, Minterest utilises the black theme for visual design elements and white theme for more technical and robust table style data.
Minterest also analyses users’ logical eye movement and follows 5-second readability rules, keeping the data easily understandable and visual noise to a minimum.
Extract from the Guidebook
Device Types
Unlike Web 2.0, Minterest follows other DeFi protocols in shying away from a mobile-first approach. Financial decisions are not made purely on mobile, particularly with advanced systems like lending protocols.
That said, Minterest does focus on mobile friendliness and usability. Minterest users should be able to act on the go whenever and wherever they need to. Minterest provides more data more easily through the dashboard, and in the event of market turbulence or extreme volatility, Minterest users need to be able to take action on mobile as well as desktop-based interfaces…
Alert System
Another design vector that Minterest provides is greater awareness of your current positions. Many protocols today don’t have any notification or alert systems in place, and it can come as a surprise when your positions are liquidated.
For that reason, awareness is one of Minterest’s main goals and a key part of its customer-centric approach. Minterest provides multiple tools to alert you before anything happens to your assets, so you can sleep better at night, or enjoy that vacation.
Note that Minterest does not 100% guarantee that your positions will not be liquidated with little or no warning, but the protocol is designed to provide the best possible information before things get to a point of no return.
Minterest UI/UX: Knowledge is power in the new DeFi
The crypto market crash exposed just how little information many investors had about the crypto world. From FTX revelations to sudden stablecoin collapses, there was a great deal of misinformation and noise in the ecosystem.
Minterest’s new UI/UX provides a bit of clarity, giving users improved access to vital information in an easy-to-grasp display.
In the emerging, post-crash DeFi world, knowledge is power, and Minterest delivers.
Bonus: Minterest Merch is coming…
Community members asked for it, and Minterest answered. Here’s a taste of the upcoming Minterest merchandise.
Wear a Satoshi shirt with a Satoshi case on your mobile, that’ll be quite a flex!
Here are the illustrations of what is about to drop!
Stay tuned for more updates!
29, November 2022
Josh’s Mini Deep Dives
Getting under the hood of Minterest’s design
Josh Rogers, Founder and CEO of Minterest
25 year serial founder & founding team member, platform architect and specialist, mentor and investor, including Freelancer and HeyYou.
Josh Rogers, Founder and CEO of Minterest
25 year serial founder & founding team member, platform architect and specialist, mentor and investor, including Freelancer and HeyYou.
Tokenomics
I consistently find tokenomics confuse people, and worryingly sometimes the people designing them. They are far from simply a set of numbers. Tokenomics are the architecture of a token’s economy and detail the often complex relationships occurring within, including a token’s utility, various emissions structures and accrual mechanisms and how it enters supply.
Well-designed tokenomics are remarkable. They act like a map to the seemingly impossible. Getting a group of human beings to do anything together is challenging, yet well-designed tokenomics have them interact online with each other in ways that optimise project outcomes. It’s why getting tokenomics right is important and makes it the natural place to start any exploration of Minterest.
Getting tokens
Photo by Shubham Dhage on Unsplash
It’s worth first outlining some aspects of tokens, especially protocol tokens, which may not be obvious but which understanding is essential to grasping protocol architecture.
Tokens are unique capital instruments. They differ markedly from the most common form of capital instruments, company shares, although both share limited characteristics.
Shares have two functions in a company – value exchange and control. They enable exchanges of value between the company and existing and potential shareholders, and their voting rights impart ownership and control. This limit in their utility is core to what defines them as a security.
In DeFi protocols, the focus of our exploration, tokens also allow exchanges of value, but between the protocol, its users, and holders. Tokens can allow voting rights to holders, enabling them to determine protocol development but they do not convey ownership. Protocols are publicly accessible code on the Internet, which is contributed not owned.
Tokens have utility beyond a capital instrument, which is key in most cases to why they are not a security.
Spectators and players
Photo by dominik hofbauer on Unsplash
The reason a company exists is to maximise value for its shareholders. Shareholders are distinct from the customers who consume the company’s outputs, which as we see all too often, can lead to conflicting interests. In contrast, a protocol’s key purpose is to provide value to its users through its utility or use.
What there is to notice about shares is they act as scorecards of spectators. They reflect the judgement of how well spectators believe the company is playing its game, which they rate with market capitalisation. But it is the company who is the player in the game.
A company’s value is measured by market capitalisation.
Market Cap = Share Supply x Price
Market cap may reflect the company’s operational effectiveness, but it is separate from that effectiveness. Market cap does not participate in how operations day-to-day in the company play out.
Tokens are something very different. They can be spectator scorecards determining market cap,
Market Cap = Token Supply x Price
and they can also allow for governance decision making. More than spectators though, tokens are players in the game of the protocol. That difference, and the reasons why, is profound.
Facilitating creators
The purpose of a protocol is to facilitate the creation and exchange of value between users.
A lending protocol enables borrowing of assets in exchange for interest. Supplying creates value for borrowers, and borrowers create value for suppliers when they pay interest. The protocol simply facilitates the process.
Protocol performance is therefore most effective when it maximises its value to users. Tokens are instrumental in that happening. Lending protocols can certainly operate without native tokens, examples exist, but without them they are unable to maximise their value to users.
Why? Because a token’s primary role is not to be a capital instrument.
Unrecognised manipulators
The role of a token is to act as a user incentive, one with a single purpose – to moderate user behaviour.
Designing protocols is also about designing tokenomics which moderate user behaviour. Tokens are unrecognised manipulators, influencing people to act unconsciously in ways the protocol needs. They have people interact on the platform in ways which increase its overall value, known as traction.
A common example is using emission rewards to incentivise the supplying and borrowing of liquidity. Emission rewards attract users to join and undertake the foundational activities that create the protocol’s value.
It is why token emissions are called rewards. They are provided in return for the interactions of the user which create value.
No token is free
Photo by Kanchanara on Unsplash
Yet tokens are not free. Like any capital instrument, issuing them dilutes value at a cost to the protocol’s capital structure. For a protocol’s market cap to increase over time the value the token creates for the ecosystem must exceed its cost.
A token whose role, apart from governance, is limited to attracting users to supply and borrow, a form of customer acquisition cost (CAC), will struggle to achieve this.
Why? It’s related to how network effects are generated, which reduce acquisition costs over time and which we’ll explore in a later mini deep dive. But the upshot is if a protocol wants to develop underlying value over time, its token must generate value beyond just attracting users and voting rights.
Lost opportunities
Photo by Jordan Seott on Unsplash
Beyond incentives, protocol tokens offer the possibility of something more. Protocols capture value from users as fees. In all current lending protocols however fees are extracted for the direct benefit of select participants.
External liquidators earn liquidation fees, and interest rate fees for supplying token markets commonly benefit project developers. There are variations but the premise is the same. It would also be naïve to believe protocol developers do not have their hands in liquidations given the fees in that cookie jar.
The point is, in current lending protocols the value the protocol captures is not making a difference to its token economy, and that is fundamentally a lost opportunity. Those token economies cannot develop underlying value. As a consequence, their market cap cannot be determined by underlying value and instead are based solely on sentiment. Worse still, it means such protocols are unable to grow market cap over time, which is a huge limitation.
Now let’s get into why.
Transforming performance
Photo by Yeshi Kangrang on Unsplash
As stated, tokens allow exchanges of value. When a token transfers fee value from the protocol to users, it transforms beyond being a simple incentive and acquires something rare – performance value.
Performance value occurs when the activity of the protocol develops underlying value in the token. The better the protocol performs, the more underlying value it drives into the token. This shift is profound. Performance value positively impacts the protocol’s entire token economy, which is necessary if the protocol is to maximise its value for users.
Value over cost
Photo by micheile dot com on Unsplash
Performance value escalates ecosystem value generating traction, which is important. The underlying value the token develops allows it to generate powerful network effects, creating more value for the ecosystem than the token costs. Surplus value creation means the protocol can develop underlying value over time. The token, acting in its role as a spectator scorecard, will then reflect this in market cap.
Effect more
Photo by John Bakator on Unsplash
Increasing performance value, having a token accumulate underlying value from protocol functions, generates a powerful new network effect. This network effect, in the form of a self-reinforcing flywheel effect where TVL drives market cap and market cap drives TVL, is exclusive to DeFi protocols. And as any student of platform architecture will tell you, what determines success above all things is network effects.
Oh, and all of this; it’s what Minterest does.
We’ll unpack more on how Minterest maximises protocol value in this series of mini deep dives. Later we’ll cover performance value and network effects and why they matter so much. For now it’s about tokenomics.
Next up is why circulating supply and market cap determine protocol success, and again the answers may not be obvious
THE Takeaways
Tokens act as behavioural incentives to enhance protocol outcomes
When a protocol transfers its fee value to its token it obtains performance value
A token’s performance value is the only measure of its ability to develop underlying value
High performance value allows a token to create value to its ecosystem that exceed its cost
Tokens with no, or low performance value cannot grow a project’s market cap over time
Except Minterest, all current lending protocols in DeFi have either no, or low performance value
Minterest has high performance value, and is the highest of any protocol
07, November 2022
Minterest announced the revised tokenomics earlier this month, delivering significantly reduced circulating supply over the first 18 months. The revised tokenomics reflect the new reality of DeFi and underpin the protocol’s success in tight market conditions.
Specifically, lower circulating supply supports the protocol’s token economy, reinforces the value of emissions rewards as Minterest launches and enables the growth of TVL. One major change made in Minterest’s tokenomics goes even further, and reduces circulating supply long term to further support the protocol’s ability to sustainably outcompete. This is the implementation of a Strategic Reserve.
What Is Minterest’s Strategic Reserve?
The role of the Strategic Reserve is to act as a sink. It stakes MNT to earn Governance Rewards which it never sells. Soaking up MNT over the long term creates on-market scarcity which supports demand and benefits from the effect of compounding.
At launch a significant portion of total circulating supply, approx. 5 million MNT tokens or 5%, is held in the Strategic Reserve. These tokens were previously part of the Minterest team token allocation.
The Strategic Reserve grows its balance beyond just earning MNT as Governance Rewards. It will add any unused surpluses from both NFT Rewards and Buyback Rewards. In both cases, surpluses are expected, as those allocations are deliberately larger than required, for 2 reasons:
The allocation of NFT Rewards of 50% of Standard Rewards guarantees no one is ever disadvantaged by the presence of NFT holders.
The allocation of Buyback Rewards allows for absolute worst case scenarios, where a black swan event requires more emissions to attract TVL.
Given this, over the first 3 years the Strategic Reserve will likely accumulate a very significant proportion of total circulating supply, possibly as high as 20%.
Why Include a Strategic Reserve?
On-market scarcity created this way supports long term demand of MNT. For Minterest, more TVL correlates to more value able to be spent in its buyback, which results in more value being captured and held by the Strategic Reserve. All of this further empowers Minterest’s flywheel effect.
More TVL allows more fees which fuels more buybacks. More buybacks means the Strategic Reserve accumulates more MNT tokens, reducing on-market supply to spur even further demand for MNT.
Simply put:
More TVL = More Buybacks = More value accumulated by the Strategic Reserve
To learn more about the Strategic Reserve, read Minterest’s revised whitepaper and revised tokenomics.
*This article was updated on the 3rd of November.
27, October 2022
The offer can be accepted until December 21, 11 UTC
Minterest is a sustainable lending protocol that creates real underlying value in its token economy and rewards contributors for their support. Consistent with that ethos Minterest announces Lock & Load: an exclusive offer for Minterest LBP and CAE participants.
Lock & Load allows participants to opt-in to receive double the amount of their allocation for locking their tokens for 12 months. The increased allocation is then vested block-by-block over the following 12 months.
Why Lock & Load?
Lock & Load reduces MNT circulating supply in the first 24 months, supporting the protocol’s token economy in what are likely to be tight market conditions. Users who take up Lock & Load receive the token reward for contributing to Minterest.
This exclusive offer helps jump-start the protocol’s flywheel effect and keeps MNT token liquidity on-chain during the crucial launch phases, positioning Minterest for early success.
Lock & Load is intended for and best suits strong project supporters who believe in Minterest’s ability to carve out a significant role in the future of DeFi.
How Does It Work?
Lock & Load is rewarding, but not complicated. Connect your wallet, the same wallet used in the CAE or LBP, confirm your MNT, your Lock & Load allocation and choose the Lock & Load option. At that point, your tokens will be locked for 12 months.
A few key considerations:
Your MNT allocation doubles immediately on accepting Lock & Load. After the 12-month lock, your newly-doubled MNT will vest to you block-by-block over the following 12 months.
While after 12 months an increasing proportion of your MNT will continually become tradeable, in total it will take 24 months for all of your MNT to be fully tradeable.
When MNT is locked it cannot be transferred to another wallet or staked. MNT will become transferable as you receive them block-by-block during the 12-month vesting period.
Your MNT may be locked but your voting rights aren’t. Voting rights vest block-by-block over 12 months based on your total Lock & Load allocation. Your voting rights also develop voting weight. As your voting weight increases, so does your loyalty reward, which increases your proportion of Governance Rewards earned when your MNT unlocks. Please check out Minterest’s white paper for more detail.
What About NFT Rewards?
Lock & Load does not depend on NFTs; having one or not does not prevent you from taking up Lock & Load.
Minterest NFTs provide greater benefit for liquidity providers (LPs) who intend to supply and borrow over time. NFTs increase Standard Emissions for the holder once public access begins. Since Standard Emissions are tied to the amount of liquidity supplied and borrowed, the greater the amount, the greater the emissions. LPs with large amounts of liquidity who own NFTs therefore gain more value from it than someone with less.
Users with a Minterest NFT who opt for Lock & Load can consider trading them to liquidity providers seeking Private Launch access and/or increases in their Standard Rewards when public access occurs. With only just over 400 allocated to date, the rarity of Minterest NFTs may make them highly sought-after by LPs seeking to maximise their yields.
How To Get Started?
The Lock & Load offer is exclusively available to Minterest CAE and LBP participants until just prior to MNT emission rewards starting.
If you are a Minterest CAE and LBP participant, and you have an MNT allocation, you can log into app.minterest.com and opt-in to the Lock & Load offer.
To learn more about the Lock & Load, head over to the terms & conditions.
Lock into Minterest, get loaded with MNT.
25, October 2022
From Josh Rogers, CEO of Minterest
Hi everyone,
Today I’m providing insights into Minterest’s unfolding launch roadmap. Given the fall-out from the sector crash earlier this year, launching as we originally intended would have meant project suicide. I appreciate the decision to delay did frustrate some people, and I want to acknowledge and thank everyone in Minterest’s community for their patience and commitment despite the tough circumstances.
Minterest is ready to launch, and it is exciting to take the first step with Private Launch. Private Launch allows deployment of Minterest’s smart-contract suite in a staged manner within a controlled environment while allowing the opportunity to reward supporters for their contribution.
The private launch happens in two distinct phases over about 3-4 months.
Private Launch
Early access – LBP participants & NFT holders
Initially Private Launch will allow simple access to the protocol for LBP participants (which includes CAE) and NFT holders to connect their wallets and confirm their allocation.
If you are an LBP participant there is also an opportunity to consider – Lock & Load. Lock & Load allows you to double your token balance. In return you accept the same terms as other Minterest supporters, which includes every private investor – a 12 month lock-up followed by 12 month vesting, where MNT is vested block-by-block.
You lock in on the Minterest journey, we load you up in return. Lock & Load is exclusive to LBP participants, and there is time to properly consider it. The offer is open till just prior to the protocol’s token markets are launched with the final date dependent on security audit completion. It’s likely mid to late November but we’ll announce the exact date as soon as it’s confirmed.
Protocol launch – NFT holders
When token markets launch, so will emission rewards and NFTs. Lending and borrowing will earn rewards as will staking. Governance Rewards and Buyback Rewards also kick in, so Minterest yield farming can move into high gear.
There is a catch though. Access is restricted to NFT holders only, so emission rewards can only be earned if you hold a Minterest NFT. With about 400 NFTs issued it means only a small number of users have access to the protocol. Here less is more, because less users means rewards are higher per user than when the public pours in.
Once minted, NFTs will be immediately tradeable so if you don’t have one it will be possible to pick one up at a marketplace. We’ll be providing lots of info on NFTs over coming weeks.
Rewards during private launch are locked till MNT lists on a centralised exchange. The intention is for listing to occur pretty quickly, but before it happens we want to provide a period for project supporters to benefit from earning higher rewards. It is Minterest’s way of saying thank you for all their support.
As all this happens Minterest will move away from the current Beta design, and trust me – the brand new look and feel is simply awesome! You’ll see it evolve on the way to public launch.
Public Launch
Public Launch is going to happen in the first quarter 2023. There is simply no point launching in late December with Santa distracting everyone. At Public Launch, MNT is fully liquid, so you’ll be able to withdraw or transfer tokens to external wallets.
The protocol is open to everyone, so this is when the world’s liquidity providers will gain access to the benefits of a next-generation DeFi protocol.
Next Steps
If you participated in the LBP or CAE or hold a Minterest NFT you will get information on how to join Private Launch early next week, so please keep an eye on our community channels.
Thank you once again for all your support. It is so recognised by all of us building Minterest and very much appreciated.
14, October 2022
Why revise the tokenomics? In short, because previous tokenomics were crafted during a bull market to satisfy the prevailing demands of both retail and institutional supporters at the time. The new revision of Minterest’s tokenomics allows the protocol’s token economy to adapt to DeFi’s new reality following the sector’s correction earlier in the year.
A lot has changed in DeFi, and in some ways those changes favour a self-sustaining lending protocol like Minterest. The emphasis is now squarely on value creation and sustainability.
Minterest is designed to excel at both.
What has Changed?
The new tokenomics significantly reduce circulating supply, especially over the first 18 months. Lower supply protects the protocol’s token economy, reinforcing the value of emissions rewards as Minterest launches and grows out TVL. The table below summarises circulating supply of Minterest’s previous tokenomics (Whitepaper v1.1) with the revision (Whitepaper v1.2).
Minterest Circulating Supply Comparison

Month

1

6

12

18

On-Market Supply

1,780,938

2,162,165

3,538,364

14,279,624

Minterest

3,612,915

6,456,115

9,786,404

15,574,119

Whitepaper 1.2

5,393,853

8,618,280

13,324,768

29,853,742

Whitepaper 1.1

10,513,873

23,080,738

38,160,975

46,490,713

A significant reduction in circulating supply (Whitepaper v1.2) during the first 18 months.
New Aspects at Play
A number of new aspects are instrumental in constricting on-market supply.
Standard Emissions
The Standard Emissions will now be distributed over 15 years, instead of 5.
Emission Reward Vesting
All emission rewards now vest block-by-block over 12 months. Rewards which once impacted circulating supply immediately now take 12 months to do so, preventing sharp spikes in token supply.
Lock-Ups
Apart from LBP participants (which includes the CAE), MNT held by supporters – private investors, advisors and the team – are locked for 12 months, followed by 12 month vesting. During the first 12 months, on-market MNT comes only from LBP Participants and emission rewards for supplying, borrowing and staking.
Strategic Reserve
A significant proportion of circulating supply is now accumulated by the Strategic Reserve, which is seeded from Team Tokens and grows from the NFT boost emission surplus. The Strategic Reserve will be operated and controlled by the DAO in the future.
Why surplus emissions?
Buyback Emissions subsidise governance rewards in the protocol’s early stages, incentivising early adopters to stake MNT and participate. They act as a kickstarter, and in DeFi’s current environment a total allocation of 5 million MNT is more than needed. What is not allocated instead goes to the Strategic Reserve along with any unused NFT Boost Emissions.
It’s similar for NFT Emissions. The initial allocation of 15 million guarantees no protocol user can ever be worse off by the presence of a NFT holder. Shielding users this way maximises fairness, but it requires a larger pool dedicated to NFT Emissions. With more tokens in NFT emissions than can ever be used, any surplus can be transferred to the Strategic Reserve.
The Strategic Reserve acts somewhat like the protocol’s savings account. Initially it accumulates surplus MNT tokens to be applied to staking, which earns governance rewards. Earning and never spending a proportion of governance rewards results in compounding, which over time intends for the Strategic Reserve’s holding becoming very significant. Removing MNT from on-market supply causes on-market scarcity, supporting demand and strengthening Minterest’s token economy for the benefit of all users.
Detailed View of Circulating Supply
You can find a detailed 7-year breakdown of circulating supply in this tokenomics sheet.
Minterest’s unique value capture model underpins its tokenomics. By tightening emissions and reducing on-market supply, Minterest ensures that token performance and protocol TVL can grow side-by-side, while ensuring that the rewards system incentivises properly.
It’s another way to show that Minterest takes the market seriously.
Minterest. Seriously DeFi.
13, October 2022
“The species that survives is the one that is able to adapt to and to adjust best to the changing environment” – Charles Darwin, Origin of Species.
Since the Fed started tightening interest rates in 2022 to curb inflation and reduce market liquidity after a record cycle of qualitative easing, markets have completely changed. Sharply rising interest rates created a liquidity blackhole. Terra Network’s collapse initiated a market-wide correction, and crypto entered into a clear bear market.
Markets move in cycles, including booms and busts. This is not the first time crypto has found itself facing strong headwinds. And with each cycle, markets often go through a cleanse. Projects with unsustainable fundamentals get wiped out, removing them from the ecosystem. It happened in the infamous 2000 dotcom bubble with technology companies and crypto is no exception. Just as post-2000, the current bear market provides a new dynamic for emerging entrants to adapt to and exploit.
Minterest was built during a bull market and the protocol’s tokenomics were designed to satisfy the prevailing demands of both retail and institutional users. Post Terra’s collapse, everything changed. In some ways this works to Minterest’s favour, but it requires being aware of and accommodating the newly emerging dynamics of DeFi demand.
To that end, we’ve made adjustments in the features and token economy of the Minterest protocol, and with it a corresponding revised whitepaper. The current DeFi ecosystem emphasises strong fundamentals and sustainability, and we believe Minterest excels at both. This blogpost explains in summary some of the changes that have been made.
DeFi’s New Reality
During the 2021 bull run, liquidity providers maximised yields using DeFi models with unsustainable inflationary emission rewards. Such projects’ high yields attracted tens of billions of dollars in liquidity. Super-returns became the ‘new normal’, fuelling even further boom-market speculation.
What happened next? Terra Network collapsed, markets followed suit, and the contagion of counterparty risk evaporated capital, adding fuel to the inferno of bankruptcies and insolvencies across the sector.
The super-yield party was over. The resulting hangover from unsustainable, hyper-inflationary models caused liquidity providers to fundamentally reassess how they deployed capital.
Minterest’s Revised Tokenomics
The revision of Minterest’s tokenomics takes full advantage of DeFi’s new environment.
Circulating supply is highly disciplined, on-market supply even more so.
For project supporters, other than LBP participants, MNT is locked for 12 months prior to 12 month vesting.
All emission rewards vest over 12 months.
Standard emission rewards are markedly reduced; only one-third of previous rewards, better reflecting DeFi’s new reality.
Governance rewards emissions are maintained, strongly favouring staking and governance participation andincentivising long-term holding.
A new Strategic Reserve accumulates MNT from buyback processes, supporting on-market scarcity and MNT demand.
Disciplined tokenomics that constrict supply powerfully support the protocol’s token economy. The new tokenomics protect Minterest from likely worsening macroeconomic headwinds while allowing the protocol to successfully attract long term TVL despite such conditions.
Finally, Minterest’s tokenomics achieve something else. Standard emissions that vest over 15 years and the Strategic Reserve enable the protocol to become fully self-sustaining.
Minterest Circulating Supply Comparison

Month

1

6

12

18

24

30

36

42

48

54

60

On-Market

1,780,938

2,162,165

3,538,364

14,279,624

24,080,576

26,678,958

29,277,339

30,768,052

32,258,765

33,749,478

35,240,191

Minterest

3,612,915

6,456,115

9,786,404

15,574,119

21,372,886

27,160,601

32,959,368

36,437,798

39,468,625

41,936,968

44,405,310

Whitepaper 1.2

5,393,853

8,618,280

13,324,768

29,853,742

45,453,462

53,839,559

62,236,707

67,205,850

71,727,391

75,686,446

79,645,502

Whitepaper 1.1

10,513,873

23,080,738

38,160,975

46,490,713

54,820,450

62,537,875

70,255,300

77,972,725

85,690,150

92,845,090

100,000,030

Month 1 6 12 18 24 30 36 42 48 54 60
On-Market 1,780,938 2,162,165 3,538,364 14,279,624 24,080,576 26,678,958 29,277,339 30,768,052 32,258,765 33,749,478 35,240,191
Minterest 3,612,915 6,456,115 9,786,404 15,574,119 21,372,886 27,160,601 32,959,368 36,437,798 39,468,625 41,936,968 44,405,310
Whitepaper v1.2 5,393,853 8,618,280 13,324,768 29,853,742 45,453,462 53,839,559 62,236,707 67,205,850 71,727,391 75,686,446 79,645,502
Whitepaper v1.1 10,513,873 23,080,738 38,160,975 46,490,713 54,820,450 62,537,875 70,255,300 77,972,725 85,690,150 92,845,090 100,000,030
Month 1 6 12 18 24 30
On-Market 1,780,938 2,162,165 3,538,364 14,279,624 24,080,576 26,678,958
Minterest 3,612,915 6,456,115 9,786,404 15,574,119 21,372,886 27,160,601
Whitepaper v1.2 5,393,853 8,618,280 13,324,768 29,853,742 45,453,462 53,839,559
Whitepaper v1.1 10,513,873 23,080,738 38,160,975 46,490,713 54,820,450 62,537,875
continued
Month 36 42 48 54 60
On-Market 29,277,339 30,768,052 32,258,765 33,749,478 35,240,191
Minterest 32,959,368 36,437,798 39,468,625 41,936,968 44,405,310
Whitepaper v1.2 62,236,707 67,205,850 71,727,391 75,686,446 79,645,502
Whitepaper v1.1 70,255,300 77,972,725 85,690,150 92,845,090 100,000,030
What’s Next?
This Whitepaper Update is the tip of the iceberg. Detailed tokenomics analysis will follow, then protocol Private Launch, NFTs, an offer specific to LBP participants (including the CAE), the roadmap to full public access, new branding and interface design, plus much more.
Stay tuned and watch this space for more information!
Welcome to Minterest – seriously DeFi.
11, October 2022
Lending is the second largest sector in DeFi space, with more than $18.79 billion worth of TLV locked across 159 different protocols as of Aug 2022. In July last month, the borrowing volumes were sitting at $5.1 billion, even during the worst bearish market cycle that we are currently witnessing.
During the second quarter of 2022, we saw many CeFi (Centralised Finance) companies like Celsius, BlockFi, and Voyager going either bankrupt or insolvent, with more than $26 billion assets under management combined, forcing customer withdrawals overnight.
However, DeFi worked flawlessly 24×7, despite the bad macro conditions. Celsius was forced to pay down its $400M DeFi loans on Maker, Aave, and Compound to prevent its collateral from being liquidated.
How do DeFi protocols ensure solvency of the system?
DeFi leverages a process called the liquidations, which is handled by the liquidators.
DeFi loans are over-collateralised. Liquidations in lending protocols occur when a borrower’s position becomes under-collateralised, and this may occur when the price of a borrowed asset increases and so reduces the comparative value of collateral backing of the borrowing, or the price of collateralised assets fall.
External Liquidators – The traditional way of handling liquidations
Just like miners in a Proof of Work system and validator nodes in a Proof of Stake system, external liquidators are entities that are incentivised to keep the entire system functioning and solvent.
External Liquidators individually maintain bots to scan lending protocols and identify under-collateralised borrower positions and buy those positions at a discount that ranges anywhere between 5% to 15%.
One of the issues with this design is that a borrower’s position is almost always over-liquidated beyond the amount required to return the borrower’s position to solvency. This happens because a liquidation needs to be economically viable for liquidators.
Minterest Innovation – Automated Liquidation
Instead of relying on external liquidators, Minterest protocol itself undertakes the liquidator role and that directly benefits the borrowers, as algorithms do not require economic incentives to participate in the liquidation processes.
The protocol is therefore able to economically liquidate significantly smaller percentages of borrower collateral which results in a more equitable and fairer liquidation process.
Liquidators play an important role in the DeFi ecosystem to keep the system solvent, and they are economically incentivised to do so. Minterest is bringing new innovations in the space with its automated liquidation engine to directly benefit the borrowers and remove reliance on third-party counterparties.
10, August 2022
There is one truth about the markets; they move in cycles of booms and busts. This spring and summer is not the first time crypto has been in a strong downtrend. And what has made this bear market so brutal is the global macroeconomic conditions that caused a liquidity crunch across all sectors.
You might have heard about the recent insolvencies and bankruptcies of centralised lending institutions with billions of dollars under management, resulting in the freeze of customer withdrawals overnight.
Celsius, a crypto lender with $20 billion worth of assets under management, was recently forced to freeze customer withdrawals.
BlockFi, one of the top 5 largest crypto lenders, was essentially bailed out by FTX with a deal that provided a $400M line of credit.
Voyager filed for bankruptcy protection blaming a crypto market crash that caused it to freeze customer withdrawals. Just like Celsius and BlockFi, Voyager is also one of the largest crypto lenders with $5.9 billion in crypto assets at the time of its bankruptcy filing.
Voyager went one step further advertising blatantly that customers’ funds held by Voyager are FDIC insured. The FDIC issued a cease-and-desist statement to Voyager because of the false claims that its customers would have government protections.
However, those were the centralised finance institutions (CeFi) with no transparency on the usage of customer funds. They went silent, but DeFi is working 24×7.
Decentralised Finance worked well, and protocols like Aave, Compound, MakerDAO – all functioned flawlessly 24×7. DeFi allows customers to monitor the protocols on the blockchain. CeFi institutions rely on vague promises and false claims, with little to no transparency.
The collapse of the major CeFi institutions can largely be attributed to the fact that they did business with counterparties (the likes of 3AC) that went either insolvent or bankrupt. However, The troubled CeFi institutions were forced to pay back the outstanding loans on DeFi protocols first, as the rules were enforced by smart contracts that are fully transparent and don’t rely on counterparties for settlement.
Celsius was forced to pay down its $400M DeFi loans on Maker, Aave, and Compound to prevent its collateral from being liquidated. The over-collateralization in DeFi protects the solvency of the protocol and customers’ funds.
These unfortunate series of events during Q2 2022 have proved that core pillars of DeFi, like lending and AMMs function as intended with foundations that are rock solid and fully transparent.
DeFi is the financial backbone for the entire economic ecosystem built on blockchain, both for retail and institutions. DeFi lending protocols rely on over-collateralization with far better risk management to secure the lenders’ funds in case of an unforeseen scenario where chances of a default are higher.
We see lending and borrowing in DeFi becoming the ultimate gateway to crypto for retail and institutions that are looking to grow their capital in a secure and sustainable way with full transparency.
Bear markets are part of the market cycles. History tells us that bear markets drive innovation where the sidelined capital flows towards high quality projects that focus on long-term sustainability. At Minterest Labs, we started #BUIDLing in September 2020 and have achieved numerous technical milestones since then, including a highly sophisticated risk probability engine enabling users to mitigate their portfolio’s liquidation risk and significant improvements in the product design inspired by the elegant design of the Porsche 911 GT3 dashboard. We are now targeting an early Q4 2022 launch date with updated tokenomics.
DeFi will rise and shine because of the sheer nature of true decentralisation where you don’t need to trust a counterparty who is incentivized to twist the truth. The rules are enforced by smart contracts, providing visibility and transparency on every transaction that brings accountability.
01, August 2022
Dear Minterest Supporters,
I want to provide insight into Minterest and its upcoming launch schedule. I appreciate the road to launch has not been smooth, despite in 2022 this being due to factors out of the team’s control. Irrespective of the circumstances, I do appreciate the frustration it likely causes, however the protocol is now firmly moving towards a public launch, with MNT then being generated following this.
Launch roadmap
The Minterest protocol is targeting an early Q4 launch date, and we will publish further detail on this, including updated tokenomics, well in advance. Minterest’s tokenomics update does require another security audit to be undertaken, and this is currently being scheduled. Given it is a dependency for public launch, once this audit is locked in, the launch roadmap will then be finalised and published.
The token generation event (TGE), where MNT is created, and so MNT vesting in the protocol can begin, does need to occur following protocol launch. Such a stepwise process is required for technical, commercial, but also regulatory reasons so the timeframe for it will be announced closer to a future date as it is finalised. For those in Minterest’s community seeking a date for the MNT token’s TGE, it is simply not possible to confirm TGE until such requirements are fulfilled. The regulatory environment for DeFi lending protocols has changed markedly in 2022, and this now factors heavily not just in how Minterest rolls out but also in how this has been publicly communicated to its community.
Advanced feature set
Postponing launch has delivered upsides though, and quite substantial ones, namely in Minterest’s feature and design offering now being far more advanced than would have otherwise been possible. There is strategic reasoning as to why this has become significantly more important following the crypto sector’s crash, and I will cover this in a video to be uploaded shortly. Minterest is not simply another DeFi protocol, rather it is introducing feature innovation intended to be transformative for its users and much of this will now be included in the Q4 launch.
Portfolio probability risk
In addition to its auto-liquidation mechanisms, Minterest will now include a highly sophisticated risk probability engine, providing high value, live and accurate insight into the probability of a user’s loan portfolio being subject to liquidation. Development has occurred over the past year with Ph.D. backed experience in automated high frequency trading programs as used by investment banks. The ability for users to access such insights is unique in DeFi and extremely valuable in enabling users to mitigate their portfolio’s liquidation risk. User testing has confirmed it a feature highly sought after by DeFi users given its ability to mitigate what is a fundamental issue in portfolio management.
Liquidating liquidations
Post-launch, the team intends to propose a feature to Minterest governance which, if approved, will reduce the threat of liquidations for users. Offered as a protocol feature, user portfolios will be auto managed on their behalf to prevent impending liquidation events. Integrated with Minterest’s auto-liquidation mechanisms and portfolio probability risk engine, the advanced sophistication of this feature enables borrowers to maximise their positions knowing their liquidation risk is managed safely on their behalf.
Product design
Updated product design is currently in final stages, with the dashboard design unique to DeFi. It provides users detailed insight into their portfolio, enabling risk mitigation and yield maximisation at a level currently not available in the sector, and presents such data in an elegant, highly intuitive and simple to understand interface. Again, screenshots of this design will be provided to the community as it finalises. Its inspiration has been drawn from the dashboard of the current model Porsche 911 GT3!
Dashboard design of the Porsche 911 GT3
NFTs
Minterest’s NFTs remain integral to its launch, with no variations to their function. With differences in DeFi interest rates between various protocols narrowing markedly since the crypto crash, we expect the advantage of NFT bonus emissions to be well sought after by larger users post launch.
Discord
As Minterest moves to launching, lots of more information will be coming your way, so please stay connected on Telegram but please also join Minterest’s Discord. Discord has numerous powerful and highly effective features which enables high value conversations to occur in ways Telegram is unable to, including multi-language channels with powerful language translation, so all Minterest’s various international communities are unified on one platform. Discord is now Minterest’s priority means of community communication with updates, AMAs and a host of other information, so we hope to see you there.
Thank you!
29, July 2022
Minterest is delighted to announce the completion of its third security audit by PeckShield, an industry leading blockchain security company, serving global customers including the likes of Maker and Aave.
PeckShield found no vulnerabilities of critical or high severity levels. There were 2 medium-severity vulnerabilities and 5 low-severity vulnerabilities found that got immediately fixed by the team.
According to PeckShield, “The current code base is well structured and neatly organized. Those identified issues are promptly confirmed and addressed.”
The full audit report is now public and available on our website.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.
13, July 2022
An excellent User Experience (UX) and a functional User Interface (UI) are vital components of any successful digital product. They are make or break design features that help a user successfully navigate a platform’s products, tools, and services. The way a user experiences a platform will ultimately determine whether they become a long-term user, or jump off to find an easier alternative. Exceptional UX is especially important in DeFi due to its complex and multifaceted nature.
The DeFi space has traditionally focused on functionality and tech, with the UX element often being sacrificed. Due to the rapidly changing iterations of DeFi, the industry has its work cut out; maintaining a balance between function and usability is a challenge that requires constant attention. The Minterest development team is well aware that the entire process of accessing a DeFi protocol requires a degree of technical aptitude which many potential users may not have. So in addition to building a robust platform, they are equally focussed on ensuring that the dashboard presents a frictionless and satisfying experience for all its users.
A clunky and convoluted UX or poor execution of UI on initial engagement with a protocol can result in a significant user drop-off. Someone who is new to crypto has to face a steep learning curve. To get to the point where they will be interacting with a protocol, they will have already had to figure out the crypto ecosystem, this may include deciding which blockchain network they want to hold assets on, understanding how to bridge assets from one chain to another, understand the impact of gas fees, and how to navigate the risks associated in participating on a DeFi protocol. The last thing they need is a confusing UX experience.
Minterest Continues To #BUIDL And Evolve
The entire industry has an incentive to improve UX on their protocols, as their mission to provide fair and equitable finance for all means that everyone needs to be able to access them. The Minterest dashboard journey has significantly evolved in the last year. After a series of lively workshops and brainstorming sessions, the vision grew from a few whiteboard images, to the current architecture and user interface that we have now.
It is important to note however, that what you will see in the Beta versions is not the final design, you should rather view it as a draft. Josh has been very involved in the process and he and the team are workshopping the final design over the next few weeks.
The team at work, the daily workshops are held in 3-4 hour sessions away from the activity of the office.
Minterest has come a long way, with two community allocation events, an LBP event, two major successful smart contract security audits, as well as the Beta launch under our belt. The UX and UI designs are now a core focus. We are constantly thinking about our users, and how to ensure that the protocol is easy and intuitive to use, and this means we will soon be able to show you our elegant, unique and very cool designs.
As always, we would like to remind you how important your support is – we couldn’t do it without you. Minterest keeps on #BUIDLing and striving towards being the most inclusive and fair DeFi protocol in the industry.
30, May 2022
We can’t deny the volatile market conditions that rocked the crypto market recently. In all long-term market cycles, you will see booms and busts but eventually, companies with strong fundamentals and network effects survive and emerge stronger than ever.
To remind you about how far we’ve come, we have put together a #BUIDL week to showcase the great strides we have made and how we continue to create and deliver a best-in-class DeFi experience with long-term sustainable growth.
Why MNT is built for long-term sustainability
Minterest aims to deliver a product that will sustainably serve the market by delivering the highest long-term yield in DeFi. We achieve this by:
Leveraging the flywheel effect, where all the surplus generated by the protocol is used for the buyback process and then distributed back to the protocol participants.
Auto-liquidations done by the protocol to capture liquidation fees.
The token emissions mechanism is designed to incentivise protocol participants which brings a higher degree of capital efficiency.
What have we achieved in Q1 2022
We started #BUIDLing nearly 20 months ago and have achieved numerous milestones since then. During the process, we learned that flexibility and adaptability are key attributes when it comes to delivering a great product. We listened to both our community and the market to gather important information and feedback to improve our product.
What Minterest accomplished in Q1 2022:
We successfully closed a Community Allocation Event (CAE) and a Liquidity Bootstrapping Pool (LBP) event.
The CAE attracted over 20,000 subscribers in just the first week and the LBP event raised $5.52 million on Copper for the protocol treasury.
The CAE and LBP events revealed a high level of support from both our community and institutions.
Launch on Ethereum.
Following the highly successful LBP, Minterest received significant market feedback expressing support for the proposition to prioritise Ethereum for its initial launch phase, with Moonbeam and other EVM-compatible networks coming later.
If you want to learn more about why we chose Ethereum as our first blockchain, check out this article.
Two successful security audits.
Minterest views security as its top priority, which is why we have hired several top-level security companies to review our entire development process. We commissioned Trail of Bits and Hacken to ensure that our code meets the most stringent standards of code security.
Trail of Bits audited Minterest’s smart contracts across several categories for technical and economic review, namely:
Access Controls
Auditing and Logging
Authentication
Configuration
Cryptography
Data Exposure
Data Validation
Denial of Service
Error Reporting
Patching
Session Management
Testing
Timing
Undefined Behaviour.
After initial feedback from Trail of Bits, Minterest implemented the fixes and mitigations they suggested, and the protocol was given a thumbs up.
If you want to learn more about how Minterest fared in the audit, check out Trail of Bits’ audit report.
Hacken security audit used the following methodologies, focused on smart contract code review and security analysis for commonly known vulnerabilities:
Architecture Review
Functional Testing
Computer-Aided Verification
Manual Review.
In the initial audit, security engineers found 2 high, 4 medium, and 4 low-severity issues. These issues were quickly resolved by the team during the second audit. The security score after the second audit was 10 out of 10.
If you want to learn more about how Minterest fared in the audit, check out the Hacken audit report.
Minterest Beta launch.
The beta launch was split into two phases, namely:
Phase one – Internal access went live on 9th of May 2022. This first phase is only accessible to the internal team.
Phase two – In phase 2, the protocol will be available with limited functionality to early-stage supporters. The dates for the second phase will be announced when all the testing has been completed.
The beta launch allows the protocol’s functionality to be technically and economically stress-tested in a safe environment before launching publicly.
If you want to learn more about Minterest’s beta launch, check out this article.
Minterest Development: Behind The Scenes
Aside from the most significant milestones that we have achieved during Q1 2022, the Minterest development team has been busy optimising smart contracts and adding new functionalities to the protocol, while at the same time, improving the UI and UX to deliver a seamless customer experience.
Improvements in Smart Contracts
A new set of features were added to the smart contract; they were needed for the stable growth of the total value locked (TVL). One of those features is ‘Business Development’ which is meant to incentivise business developers to find and bring liquidity providers and reward them for participation in the protocol functions.
We’ve built an extensive Gatekeeping module to keep the protocol safe, but still have it as decentralised as possible.
We have also developed sophisticated NFT and Booster systems to track the reward boosting for our users. We also completed the on-chain part of our liquidation engine. This piece of software is backed with extensive mathematical and modelling work which contains non-trivial logic, as automated liquidations have never been done before in DeFi.
Minterest dashboard and risk assessment tools
We understand that users want to take leveraged loans without excessive liquidation risk.
This is why we implemented features such as notifications, collateral ratio gauge, liquidation risk gauge, as well as the portfolio back-test risk analysis feature.
The production version of the Minterest UI
We tested on many target audiences and launched a production version of our UI. The application is not only loaded with data, but it’s also user-friendly, thanks to our Indexer – a special service that scrapes data from chains and displays it to the web pages of each user.
The successful architectural design of Guardians.
We have designed the inner workings of several Guardians – the web services that will support the Minterest protocol. Some examples include the Liquidation Guardian for off-chain calculations of liquidation, and the Restaker Guardian that keeps users’ weight up-to-date in Buyback- to optimise their earnings. These services are not yet in development, but the architecture design and polishing of details are ongoing.
We Continue #BUIDLing
With the first quarter behind us, here’s what you can look forward to. We are focusing our efforts on UI and UX – i.e., new wallets, scrapping more data, showing more charts, sending messages through Telegram and emails, and building the Risk Management tool. We are also planning to build the Guardians, with the primary ones being the Liquidator and Restaker Guardians. Each Guardian is a big sub-project that involves developers, designers, mathematicians, and many other specialists in our team.
Closing Thoughts
With much of the groundwork being done, we are now close to delivering a product that we can all be immensely proud of. We are delighted to have reached this stage of development and we couldn’t have done it without the support of our amazing Minterest community.
Keep Calm and Carry on #BUIDLing.
23, May 2022
After two highly successful security audits and 20 months of #BUIDLing and testing, we are launching Minterest’s beta phase this week. This article will cover the beta phase functionalities, dates and general information about the launch.
Why the Beta Launch is Important
Minterest is nearing its launch and this means we will be bringing significant improvements to the DeFi space in terms of both capital efficiency and value accrual, benefiting the overall ecosystem. The beta launch is a vital step in the process as it allows the protocol’s functionality to be technically and economically stress tested in a safe environment before launching publicly.
Phase One – Internal Launch
Internal access has been live since the 9th of May 2022. The first phase is only accessible to the internal team. After this initial phase, the protocol will be opened to early stage supporters and CAE and LBP participants. The dates for the second phase will be announced when all the testing has been completed.
Phase Two – Opening up the platform to our supporters
After successful internal beta phase testing, we will open up the platform to our supporters. In phase two, every MNT token holder who participated in the CAE or LBP will be granted access to the protocol’s beta version, where they can see their account balance and rewards. However, the lending functionality will only be open to the whitelisted wallet addresses (private invitation only to designated Minterest partners).
- MNT tokens secured via participation in our Community Allocation Event or LBP Token Event, will be automatically staked on the protocol and assigned to their holders via the wallet address they used to participate in CAE/LBP. These token holders will be able to see their MNT balance on the Minterest dashboard. They do not need to take any actions before they start earning rewards from the buyback bootstrapping pool.
- All the MNT tokens available on the protocol will be locked during the beta launch. Tokens are automatically staked and rewards for the respective addresses will be loyalty-boosted. No withdrawal of MNT will be enabled in any form during beta launch.
- MNT token holders can log in with their MetaMask wallet and view their holdings, as well as their staking rewards. The tokens however, cannot be manually staked or unstaked. Certain whitelisted wallets will be able to lend on the protocol, earn MNT emissions, and limited borrowing will also be allowed.
- The vesting clock starts for all those who hold tokens subject to a vesting period as per the agreements. However, the tokens will be locked and no withdrawal of MNT tokens will be enabled during the beta launch.
Briefing from our CEO, Josh Rogers

Closing Thoughts
We are delighted to have reached this stage of development with such amazing support from the Minterest community. We’re looking forward to your participation in the Beta phase of the project!
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.
17, May 2022
The DeFi space comprises of several verticals, and lending is perhaps the most important one. This guide will help to give you a grasp of the core ideas behind DeFi lending, what makes it so important and why Minterest is set to raise the bar in this rapidly growing area of finance.
DeFi Lending vs. Traditional Lending
To get a clear view of why the adoption of DeFi is growing at such a pace, we need to understand the benefits it offers over traditional lending. A loan is a financial tool that’s available in both the traditional and crypto financial ecosystem, DeFi loans however, are substantially different in nature than those issued by banks.
When an individual wants to borrow money from a traditional bank, they have to go through an array of checks and meet a set of criteria imposed by the bank to qualify for a loan. The process can take over a week and an approval is not always secured. In contrast, an individual looking to borrow from a DeFi protocol only has to meet one requirement – they need enough crypto assets to overcollateralise their loan, and the transaction can be completed in minutes. Additionally, the fees for a short-term loan in traditional banks are very high compared to a DeFi loan.
Instead of the loan funds being deposited into your account by a bank, a loan on a DeFi protocol is provided by users who have staked their crypto, and in return for this, they enjoy an annual percentage yield (APY).
The ease and cost of acquiring a loan on a DeFi protocol is why the DeFi industry has seen such explosive growth in the last 2 years, with $50.63 billion in total value locked.
Why DeFi loans are attractive
- A trader can increase their holdings in their portfolio without affecting other assets.
- Interest rates for the borrowers are lower than those offered by traditional financial institutions.
- There are significantly higher APYs on the supply side for lenders.
- The fees are lower for borrowers
- DeFi users can leverage lending to provide more liquidity for complex staking and yield farming strategies.
The Challenges Facing DeFi’s incumbent lending protocols
Currently, there are 142 lending protocols distributed across several blockchains. The borrowing volume has soared 58.36% since the last year — from $16.69 billion in May 2021 to $26.43 billion today. However, DeFi lending in its current form is far from being perfect, as the industry faces some critical pain points.
External liquidators
External liquidators are third-party actors that earn fees for undertaking the buy-out of under-collateralised loans at discounts to market rates. The participation of external liquidators helps maintain the overall solvency of the protocol.
The Maker protocol, one of the first stable coin issuers, first introduced the practice of third-party liquidation. Any user could participate in an incentive-driven auction to bid for the liquidation. Many protocols followed the same processes, resulting in a substantial loss of value for users.
Lack of Risk Assessment Tools
Regardless of the platform, users need a way to structure products which can help offset or mitigate risk factors related to DeFi lending.
Risk management is essential, but existing protocols do not provide tools to analyze and mitigate risks. As a result, many borrowers suffer auto-liquidations, which could have been avoided with a simple analysis of their collateral and a timely reaction.
No Value Accrual from the Protocol
Some DeFi protocols are extraordinarily effective and have large TVL within their ecosystems. However, their token value is not correlated with the rising TVL because third parties remove the value generated within the protocol.
Such protocols lose the lion’s share in liquidation and interest fees generated, and this affects the token’s price.
Standard Emissions & Linear Rewards Structure
DeFi protocols issue native tokens and incentivise users with emission rewards for providing liquidity. The same tokens are used to encourage borrowing activity and these two activities shape any DeFi protocol’s APY.
However, existing DeFi protocols do not correlate lending liquidity, borrowing, and the native platform token. This results in APY lowering over time, as the number of users grows.
Minterest’s Innovations
Minterest has identified existing DeFi lending challenges and has built a next-generation protocol that solves the issues highlighted above.
Auto-liquidation Feature
Minterest has built its own on-chain liquidation process. This feature retains up to 40% of the protocol value usually lost by other DeFi protocols.
The on-chain Treasury captures 100% of the interest rate fees and auto liquidation fees and then passes these rewards back to the users. This process boosts the total APY for all users.
Risk Assessment Tools
Minterest users will have access to an intuitive set of risk assessment tools on the Minterest Dashboard which will assist them to identify common DeFi lending risks and take action to mitigate them. Users can track data related to their positions in the protocol and activate liquidation reminders, and get notifications via Telegram, Discord, or email. This means users may significantly minimize the risk of being liquidated.
Value Accrual & Buyback
All the interest and on-chain liquidation fees are collected by the Minterest Treasury which buys back MNT tokens from the market and distributes them back to token holders. Such action generates a strong flywheel effect, as more users want to bring extra supply on-board, get more powerful buyback, and earn higher yields. Moreover, the Minterest emission structure incentivises users to adopt a long term strategy through extra rewards for loyalty.
Emission Structure
Unlike other DeFi protocols that only focus on liquidity-based incentives and borrowing, Minterest uses a special emission structure that is allocated via three buckets.
- Standard Emission: 30M MNT tokens (60%) of the total Emissions Rewards pool is allocated equally over 5 years to liquidity providers who lend and borrow.
- Boost Emission: 15M MNT tokens (30%) of the total Emissions Rewards pool is the maximum possible allocation over 5 years to liquidity providers who hold Minterest NFTs. Boost Emission is issued in proportion to Emission Rewards, i.e. an NFT with a 30% boost in emission results in the user receiving a 30% boost in their specific amount of Emission Rewards.
- Buyback Emission: 5M MNT tokens (10%) of the total Emissions Rewards pool is the maximum possible allocation over 5 years to bootstrap the Buyback process. The Buyback Emission pool acts as a short-term subsidy of the protocol’s Buyback process, incentivising early staking of MNT tokens in supporting a more attractive APY from launch, than it would have otherwise been the case.
Conclusion
The adoption of DeFi lending protocols will continue to grow, especially as more crypto enthusiasts enter the market and provide the network effect that will, and is, driving the market. As liquidity grows, so will opportunities for market participants who traditionally use more passive assets to balance their investment strategies. Minterest and its unique features like auto-liquidation, buyback, and emission structure stand at the forefront of a vast, DeFi lending market.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.
10, May 2022
Shortly after successfully completing our first smart contract security audit carried out by Trail of Bits, Minterest is delighted to announce the completion of a second security audit by Hacken, a leading security consulting company that focuses on blockchain security.
The full audit report is now public and available on our website.
Why Security Matters
When making a decision to place your funds in a DeFi protocol, or for that matter, when you make any transaction that involves handing over your money to an institution or third party, security and safety of funds is one of the most important considerations. As the total value locked (TVL) within the DeFi sector climbs to all-time highs – with the latest peak surpassing $240 billion – the risk of potential exploitation is an increasing concern on DeFi protocols. In particular, code exploits are a common vector of attack, so smart contract security is front of mind for any Defi protocol.The industry has significantly stepped up measures to protect funds by employing more rigorous external and internal code audits and overall platform security processes.
Minterest views security as its top priority, which is why we have hired several top-level security companies to review our entire development process. We commissioned Trail of Bits and Hacken to ensure that our code meets the most stringent standards of code security.
What’s Inside the Hacken Report?
The smart contract security audit was performed with several methodologies in mind, namely:
Architecture Review
Functional Testing
Computer-Aided
Verification
Manual Review.
Minterest scored a 10 out of 10 for both documentation and architecture quality. In the initial audit, security engineers found 2 high, 4 medium, and 4 low severity issues. These issues were quickly resolved by the team during the second audit. The security score after the second audit was 10 out of 10.
Here is a breakdown of issues found by the Hacken team pertaining to four different severity levels.
Critical
Security engineers found no critical issues whatsoever.
High
Insufficient vesting balance – The audit has shown that the “Vesting.sol” contract’s code validated that there are enough tokens only for every single vesting. However, there was no validation verifying that the contract balance was enough to fulfil all those vesting records. The contract did not guarantee that all users would receive their funds.
Status: Fixed
Unrestricted function access – The function “updateBorrowIndexesHistory” from the “EmmisionBooster.sol” contract could be called by anyone, which could lead to an undesired contract state.
Status: Fixed
Medium
Missing events emitting – “MemberAdded” events from the “Whitelist.sol” contract were not emitted in the constructor when new addresses were whitelisted. If there was some off-chain logic that depended on the “MemberAdded” event, it could have worked incorrectly.
Status: Fixed
Redundant modifiers – The contract “MToken.sol” has redundant “nonReentrant” modifiers. As soon as no external calls are performed, “nonReentrant” modifier is redundant.
Status: Acknowledged
TODO notices – The code contained a lot of ‘TODO’ notices. This could indicate that the code was not finalised.
Status: Fixed
Costly loops – The code in the contract “EmmisionBooster.sol” did not allow emission boost enabling for different markets in batches and processed everything in a single call. The function could fail if the number of the markets returned by “supervisor.getAllMarkets()” was big enough.
Status: Mitigated
Low
The contract can be declared as abstract – The contract “SupervisorV1Storage.sol” had some functions that should be implemented and never used separately.
Status: Fixed
Misleading naming – The function name “redeemAllowedInternal” in the contract “Supervisor.sol” said that it redeems something. However, it’s a simple view function used for validation purposes.
Status: Fixed
Redundant addition – Adding 30 seconds for the current timestamp in functions “swapTokensForExactTokens, swapExactTokensForTokens” in contract “DeadDrop.sol” is redundant because the swap will be performed during the same call and using “block.timestamp” as the deadline is enough.
Summary
Minterest cares about security, after passing the second security audit with no issues, we are pleased to be delivering a fully-operational platform that you can trust to securely hold your funds.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.
03, May 2022
The recent Senior Mintrepreneurs exclusive Discord channel launch generated some great questions, they were really insightful and relevant for the community. So much so, that we decided to make this week all about FAQs.
Join us for an informative and interesting Q&A event and get a chance to win Minterest NFTs, which grant you private launch access and a significant APY boost!
Participate in Minterest’s FAQ Week activities, to win one of 3 Minterest Next Level NFTs
All Minteresters can ask their protocol-related question on Twitter and win a Next Level Minterest NFT.
Kyn Chaturvedi stars in Minterest’s AMA session this Friday. He will choose and announce the winners on Twitter Spaces to wrap up the FAQ Week.
General Chat Tweets
Can you help us to add new questions to our FAQs? Your valuable insights will help everyone understand Minterest a little better.
In return, Minteresters will have a chance to earn a Minterest Next Level NFT and join the private launch. The rules are simple:
Head over to Twitter this Wednesday/Thursday
Post your question (only one question per user) on Twitter. Make sure to use the #MINTERESTFAQ and #ASKKYN tags, so we can spot your questions and pick the winners
Join us on Twitter Spaces this Friday to get the results. The best community question wins a Minterest Next Level NFT and gets a chance to be included in Minterest’s FAQ section
You can check the Minterest whitepaper and blog to generate your questions.
Twitter Spaces Friday
Minterest’s popular COO, Kyn Chaturvedi will be selecting the best questions from those left under the Twitter post. Winners will be announced during Twitter Spaces this Friday. The winners of the Next Level NFT will be chosen from:
General Channel Tweets. The best question wins Minterest Next Level NFT
SenMin Channel Activity. The best rephrasing of an answer from Friday’s SenMin Party wins Minterest Next Level NFT
Live Q&A during the Twitter Spaces. The best live question wins Minterest Next Level NFT
All your questions have a chance to be officially listed in Minterest’s FAQ section.
Join us on Twitter Spaces this Friday and let the questions begin!
What is Minterest?
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.
02, May 2022
Dear community, protecting the interests of users will always be an integral part of the Minterest protocol, so this post is a sneak preview of what’s to come once the protocol goes live. Here, we will discuss risk assessment tools that provide refined strategies in a convenient format to make lending/borrowing risks more transparent.
Risk Analysis: Why is it important?
One of the most significant risks when using any DeFi lending protocol is the risk of liquidation, which occurs when a loan becomes insufficiently collateralised, i.e., when a user’s collateral value falls below a given threshold. Liquidation is a highly unfavourable outcome for borrowers because their positions are reduced, resulting in losses.
All loan positions in the Minterest protocol are over-collateralised, meaning that the collateral value is greater than the amount borrowed. If market movements result in an under-collateralised loan position, a users collateral gets liquidated to repay the loan in a critical situation. Such a situation occurs if the Collateral Ratio, which is the ratio between the borrowed loan amount and the supplied collateral, is greater than the allowed proportion for the user’s lent assets.
Learn more about core protocol functions such as utilisation limit, utilisation ratio, and auto-liquidation in our whitepaper.
Liquidation is one of the significant risks of leverage in any position, at the time of borrowing. Due to the volatility of many cryptocurrencies, liquidations occur regularly in DeFi.
That’s why the Minterest protocol offers risk analysis tools; they ensure users have more insight over their positions.
Risk Analysis Tools Walk-through
The Minterest Labs team is working to build the best lending/borrowing platform in the DeFi space. Part of this involves a Portfolio Dashboard to give users a clear overview of their positions on Minterest. Even though the dashboard has many attributes, we will focus on three main risk assessment features our users can access.
Feature #1: Notifications
Users want to make the most of a DeFi protocol, taking leveraged loans without excessive risk of being liquidated. The main reason behind any liquidation is a lack of sufficient collateral, which happens when users don’t pay enough attention to their collateral ratio. However, with notifications, users can more easily be aware of any changes in their risk profile due to market movements.
The Minterest notifications feature is designed to help users reduce the risk of being liquidated while also saving them time. In addition, notifications can remind users when they need to participate in protocol governance. Users can set notification alerts in two ways — via e-mail or Telegram. Custom notifications will let them stay ahead of the game whenever their attention is required.
Imagine if a user set up a Liquidation Risk Alert and their risk on collateral changed significantly. Timely notification would allow them to increase their collateral ratio to avoid liquidation or take other reasonable steps to preserve capital.
Feature #2: Collateral Ratio Gauge
The Collateral Ratio Gauge feature is like a forward-looking radar that estimates the collateral ratio that will result if the user takes a lend or borrow action, before they take that action. For example, if a user wants to open a position but the challenge is that they don’t know how a new position will impact their portfolio. Instead of taking chances, they can use the collateral ratio gauge tool before making a decision. It will display how their collateral ratio may change depending on the position they want to open.
Feature #3: Liquidation Risk Gauge
The Liquidation Risk Gauge is another feature, it works like a forward-looking radar, an index estimating the probability that a user will have a liquidation event over the course of the next year. The Liquidation Risk Gauge is based on the user’s current portfolio, using the prior year’s market movement data for the assets utilised, to calculate the probability for a potential liquidation event in the user’s portfolio. The user can see this Risk Gauge before they take any lend or borrow action, helping them to “look forward” and anticipate how their portfolio could be impacted by typical market movements.
Feature #4: Portfolio Back-test Risk Analysis
Using a Portfolio Back-test methodology, Minterest users will also be able to see how their current portfolio would have fared through the market movements of the past year, giving a useful indication of how it might fare in the coming year, helping users to make solid and informed decisions. Historical back-test portfolio analysis is a unique feature not available elsewhere in DeFi.
Join our Twitter Spaces on Friday, Apr 22 with our CPO David Esser to learn more about our risk analysis tools.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.
18, April 2022
DeFi is now multi-chain, and both Moonbeam and Ethereum are priority networks in Minterest’s roadmap. Following Minterest’s highly successful LBP which closed with a fully diluted valuation exceeding 500 million dollars, significant market feedback has supported the proposition of prioritising Ethereum as the protocol’s launch network, with Moonbeam and other EVM compatible networks occurring later.
A recent strategic review, in conjunction with advisors, liquidity providers and project investors, has resulted in strong support for this direction, so Minterest is now prioritising Ethereum for its initial launch phases.
By launching on Ethereum first, Minterest will have access to greater launch liquidity which will fast track its multi-chain strategy. The ability to attract substantial initial liquidity on Ethereum, supports the accelerated build-out of liquidity on other EVM compliant networks like Moonbeam. It’s a pathway already successfully demonstrated by numerous other protocols.
Last year, the protocol’s underlying technology stack was redesigned, switching from Substrate to Solidity. This provided the protocol with the greatest possible flexibility in its launch options, and by doing so, it has allowed for this current re- prioritisation in the protocol’s multi-chain roadmap.
There are no changes in user features or with on chain liquidations and the protocol’s automated buyback rewarding governance participation. Minterest NFTs, are all proceeding as detailed in the project’s whitepaper. This will also be the case for other EVM networks like Moonbeam, as Minterest implements its multi-chain roadmap.
Minor amendments to the protocol’s economy, to allow for Ethereum gas pricing, are already underway and will not materially impact the updated launch schedule.
Consistent with Minterest’s commitment to make DeFi accessible for all users, $100 of MNT tokens will be allocated to each wallet used in the Minterest Community Allocation Event, to ensure smaller participants are not adversely affected by Ethereum gas prices. MNT will be priced at $3.21, equivalent to the lowest average price of Minterest’s LBP event.
As stated, the war in Ukraine has had an impact on Minterest’s launch schedule and a new launch date will be announced imminently.
13, April 2022
Dear Minteresters, we are pleased to announce the results of Quiz #1 held from April 4 to 6.
A Quick Background
Minterest Labs revealed the exclusive Senior Mintrepreneurs Discord channel launch this week. Any community member can join the channel by scoring > 80% in all three quizzes we conduct.
Looking for reasons to join the Senior Mintrepreneurs Club? Check out our detailed blog post to learn about all the benefits Minterest’s inner circle enjoys.
Quiz #1 Results
Quiz #1 was officially launched on April 4 and our community had a chance to participate until 10:00 PM UTC on April 6.
The results are out! Please check your emails and Discord level. If you’re not on our Discord already, please join here.

If you didn’t receive an email or a discord message, don’t get discouraged, these contests are just a stepping stone to help you learn more about the Minterest protocol. You can still take Quiz #2 and #3 to get special tags on the Minterest public Discord channel.
If you missed the mark on this one, you’ll have the opportunity to enter many more in the future, including the upcoming Community Education Event.
Next Steps Towards Becoming a Senior Mintrepreneur
We hope that you enjoyed participating! If you received an email, you’re officially 1/3 of your way to joining our exclusive Discord channel. Don’t forget to take Quiz #2 on Thursday and Quiz #3 next Monday, to get early access to Minterest merch, news, special events and NFT drops.
08, April 2022
Dear Minteresters, we’re happy to announce that you can now join our exclusive Senior Mintrepreneurs Discord channel for a behind-the-scenes look at the project’s development, NFT drops and stay up to date with the latest news.
TL;DR
The exclusive Senior Mintrepreneurs Channel provides you with access to NFT drops, Minterest merch, channel member announcements and events.
Complete Minterest quizzes on April 4, 7, and 13. Correctly answer 80% or more of the questions and complete all three quizzes to get the exclusive Senior Mintrepreneurs Channel invitation.
What Is The Exclusive Senior Mintrepreneurs Channel?
The Exclusive Senior Mintrepreneurs Channel is a Discord channel for the most engaged, informed & dedicated community members.
Why Join The Exclusive Senior Mintrepreneurs Channel?
The Senior Mintrepreneurs Channel membership gives you:
Access to Minterest merch
Minterest APY boosting NFT drops
Exclusive sneak peeks of what we’re working on
First-hand news and events related to Minterest
How To Join The Exclusive Senior Mintrepreneurs Channel?
Minterest Ambassadors and Quizmeisters on Discord are automatically added to the Channel. If you haven’t participated in the Minterest DC quizzes yet, you may join the exclusive Senior Mintrepreneurs Channel this week by taking quizzes.
We have 3 upcoming quizzes on Minterest Protocol:
Join us on Monday, April 4
Join us on Thursday, April 7
Join us on Wednesday, April 13
Go to Quiz 1
Go to Quiz 2
Go to Quiz 3
Join the quiz and answer questions to get the tag. The Tags are awarded to everyone who gets more than 80% of the questions correct.
If you successfully complete 1 Quiz, you get the Novice tag
If you successfully complete 2 Quizzes, you get the Troubleshooter tag
If you successfully complete 3 Quizzes, you get the Specialist tag
More details about the tags and OG roles in the Minterest Discord channels will be shared later.
Who Can Access The Exclusive Senior Mintrepreneurs Channel?
You’ll be invited to the Senior Mintrepreneurs Discord Channel if:
You have the Specialist Tag (you successfully answered 80% or more of the questions in all three quizzes)
You’re a Quizmeister (you successfully completed Minterest DC quizzes in the past)
You’re an Ambassador (you joined the Minterest Ambassador program)
We can’t wait to release all the big news, our fresh batch of merch and more with our Mintrepreneurs!
05, April 2022
A MESSAGE FROM JOSH ROGERS, FOUNDER & CEO OF MINTEREST’
Dear Supporters
We have put an enormous amount of effort into getting the Private Launch ready for Q1 22. As we are all painfully aware, the invasion of Ukraine and the progressive decimation of people’s lives has affected both individuals and businesses globally. Our operational infrastructure has not escaped the impact of the war as many of our team members are based there.
The situation for our Ukrainian team members has materially deteriorated over the past week, and their safety and wellbeing remain our top priority. Due to these deeply challenging circumstances, we have lost a significant amount of our front-end design capacity. We are working incredibly hard to rectify the situation but it has forced us to push back the dates of both Minterest’s private and public launch resulting in a mild delay. The exact dates will be announced once we have greater clarity on resourcing alternatives.
We very much appreciate your understanding and compassion to date and assure you that we are doing all we can to ensure we uphold our commitments to Minterest’s community, investors, and our valued team members.

Best Regards
Josh Rogers
22, March 2022
A MESSAGE FROM JOSH ROGERS, FOUNDER & CEO OF MINTEREST’
Firstly, I would like to unequivocally condemn the invasion of the Ukraine.
International laws were blatantly breached, and this is evidenced by the outcry and engagement of many international agencies and governments, including the International Criminal Court (ICC). Our team is comprised of Belarusians, Russians, Ukrainians and many other nationalities, and we are all unanimous in our condemnation of the invasion.
The impact on our team is direct and severe. Six of our people are currently in the Ukraine, as is our digital design agency. You can rest assured that we are doing everything possible to ensure that they and their families are safe and out of harm’s way.
We are not going to engage in head on debate about the events that are unfolding. This is because there are no winners in this discourse. There are innocent victims on all sides of war, so getting involved with the rhetoric is not going to serve purpose nor person. We feel deeply sorry and distressed for all the victims of this war, regardless of race, nationality, or creed. Instead, we are going to make clear our condemnation and assist our team members and associates to stay safe and supported.
Thank you for your support during this sad and distressing time for our team, our community and indeed the entire world. We sincerely hope that resolution is swift, and the lessons learned enduring.

Josh Rogers
CEO
Minterest
07, March 2022
04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.
Thank you BuyNoEvil (Minterest ambassador) for giving us an initial idea for this blog post.
The Minterest protocol recently concluded a $5.52M LBP token allocation event on Copper. Although the event was mainly designed for large participant, smaller participants also suppored the LBP. This article will help you find answers to the most frequently asked questions related to the Minterest LBP token event.
This article will help you find answers to the most frequently asked questions related to the Minterest LBP token event.
Where can I track my investment and NFT level?
You can use the Minterest LBP dashboard to track your investment and NFT level. You can connect your Metamask wallet on the dashboard to see how many MNT tokens you have, their total value, and your current NFT level.
Did I win a Next Level NFT during the LBP?
To check whether you have won an NFT, you can go to the Minterest LBP dashboardand connect your Metamask wallet. Your NFT level will be displayed under ‘Your Status’ window on the right hand side of the screen.
NFTs were allocated during the LBP event depending on how much each participant contributed. Your NFT level depends on your position relative to other LBP participants on the leaderboard.
When and where will I receive my NFT?
All the NFTs will be released after the TGE by the end of Q1 2022 during the private launch of the protocol. The Minterest NFT collection will also be tradeable on NFTrade, the upcoming multi-chain NFT marketplace on Moonbeam. More information about the Minterest and NFTrade collaboration can be found here.
AMA/Telegram/Discord/Twitter
If you win an NFT during an AMA or on social media, you will receive all further instructions on how to obtain your NFT. We will never ask you to transfer funds, nor will we ask you for private information such as your Metamask wallet password or seed phrase.
You can track the NFT Lottery winners here: Results of the Minterest NFT Lottery And Goodies Giveaway
LBP participation
If you won an NFT during the LBP, you don’t have to take any further actions. The NFT will automatically be transferred to your Metamask wallet on the Moonbeam network during the Token Generation Event in Q1 2022.
When will the private launch of the Minterest Protocol take place?
Minterest protocol will be launched by the end of Q1 2022. The exact date will be announced a little later on our Twitter, Telegram, and Discord.
Once again, we wish to thank and congratulate all CAE and LBP participants, supporters, and community members. We couldn’t have done this without you!
We are looking forward to what the future has in store for Minterest.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
18, February 2022
04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.
Thank you BuyNoEvil (Minterest ambassador) for giving us an initial idea for this blog post.
Minterest had an extremely successful community allocation event, and we appreciate all the CAE participants and project supporters that made this possible.

This post aims to address all the frequently asked questions from the community and some of the uncertainties regarding what happens after the CAE, and what they can expect in the near future.
How many MNT tokens will I receive?
All CAE participants were limited to deposits between $100 and $500, with Minterest guaranteeing them the lowest average LBP price.
After a successful LBP, we are happy to announce that the lowest average price of MNT is $3.21 – meaning that all CAE participants will get their MNT at this price. As a reference, the LBP started with an initial price of $5.88 and ended at an average price of $5.29 per MNT.
All community allocation event participants will receive an email with clear instructions on how to claim their funds.
When and where can I access my tokens?
The tokens obtained by CAE participation will have to be claimed on the Moonbeam network at the Token Generation Event (TGE) which is scheduled at the end of Q1 2022.
Did I win a NextLevel NFT?
The lottery draw for the 85 NextLevel NFTs across levels 4 and 12 will take place and be announced on 15th of February 2022.

Minterest will notify all the winners via an email, so keep an eye on your inbox!
You can also track the NFT Lottery winners here: Results of the Minterest NFT Lottery And Goodies Giveaway
When will I receive the NFT I won participating in Telegram/Discord/Twitter or an AMA?
Those that have won an NFT through an AMA, Telegram, Discord, or Twitter, will be notified by Minterest team members. Make sure that you have provided your Telegram and Twitter handles, as well as your email address as per the instructions.
Your NFT reward will be airdropped at the time of TGE to your MetaMask wallet on the Moonbeam network.
When and where will Minterest launch?
Minterest is expected to have a private launch soon by the end of Q1 2022.
Once again, we wish to thank and congratulate all CAE and LBP participants, supporters, and community members. We couldn’t have done this without you!
We are looking forward to what the future has in store for Minterest.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users
18, February 2022
The token event was conducted via an LBP (Liquidity Bootstrapping Pool) on Copper, ensuring the most equitable form of token allocation possible, in-line with Minterest’s core principle of making DeFi fairer
Tallinn, Estonia – 14 February 2022 — Minterest, a value-capturing lending and borrowing protocol designed to make DeFi fairer for users, has closed $5.52 million USD in a LBP token event. Following this event, and less than one and a half years since its inception, Minterest’s fully diluted valuation stands at $514M. Leading the charge, Minterest is set to introduce its DeFi 2.0 model, with greater capital efficiency and a fairer incentive structure. The LBP was the first step towards the launch of the Minterest protocol which is expected by the end of Q1 2022.
An LBP is a tried and tested approach that allows for unrestricted access to token distribution, allowing the market to determine the fair price of any crypto asset during the course of the event itself. This way, results are completely determined by supply and demand dynamics occurring within the LBP itself and over which individuals have little or no influence on the price.
The Minterest LBP saw participation from a number of renowned funds, including DigiStrats, LucidBlue Ventures, DFG, and others. The LBP token event was held on Copper, ensuring the most equitable form of token distribution possible, in-line with Minterest’s core principle of making DeFi fairer.
Josh Rogers, CEO and Founder of Minterest, said, “At any time, Minterest’s LBP result would be regarded as strong, but that Minterest has received a $514M fully diluted valuation in today’s climate, prior to launch, is an indelible sign of the immense opportunity and potential it brings to the market. It reflects the protocol’s ability to fulfil its mandate, to take a dominant position in DeFi by maximising value to its users in a fair and equitable way, and we could not be more excited to bring this to the market very soon.”
He concluded, “The success of the LBP underscores the fact that DeFi markets are maturing rapidly, with billions of Total Value Locked (TVL) pouring into the ecosystem. Users are demanding more inclusivity and our LBP reflects this. The strong support and interest from the community is truly incredible. By choosing the route of an LBP to fund the protocol’s treasury as opposed to more common practises, Minterest is setting the standard for fairness and inclusion in DeFi 2.0.”
For more, visit minterest.com.
Josh Rogers, Founder of Minterest, is available for interview.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
15, February 2022
04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.
Minterest is delighted to announce that the Minterest Next Level NFT collection will be tradeable on NFTrade, the upcoming multi-chain NFT marketplace on Moonbeam.
NFTrade is the first cross-chain and blockchain-agnostic NFT platform. The project is an aggregator of all NFT marketplaces and hosts the complete NFT lifecycle, allowing anyone to seamlessly create, obtain, sell, swap, farm, and leverage NFTs across different blockchains.
How does it all work?
The Minterest Next Level NFTs will be air-dropped to winners’ wallets just prior to Minterest’s private launch at the end of March 2022. Holders of the NFTs will then be able to trade them on the NFTrade marketplace on the day of our TGE (end Q1 2022).
This is great news for users seeking access to the protocol’s private launch, but do not have an NFT. An NFT is essential in order to access the protocol’s super-high bootstrapped emissions until Minterest’s private launch in March 2022. You can calculate the emission rewards here: Minterest Yield Calculator.
Those participants who want the massive APY boost but didn’t get a high tier can acquire one from NFTrade marketplace. All Minterest Next Level NFTs will be tradable after the TGE as soon as NFTrade platform goes live on Moonbeam. Sellers can then list their NFTs after the TGE and start receiving bids from potential participants after setting up a 24 hour auction.
Sign up for the whitelisting and join our Telegram and Discord channels to become a part of our growing community!
What is Minterest?
Minterest is a DeFi lending and borrowing protocol operating its own on-chain liquidation and buyback mechanisms. The protocol automatically passes on the value it captures from interest rate, flash loan and liquidation fees to users. It does this via MNT tokens that it acquires on-market, ensuring highest long-term yields.
15, February 2022
Minterest LBP Token Event
How to participate?
Set up your wallet
Get ETH and ERC20 USDC
Connect your wallet
Participate in the LBP token event
Approve USDC usage
Acquire MNT
Minterest dashboard for a user-friendly experience
We created a user-friendly Minterest dashboard for a simple and transparent experience to track investment, NFT level, and the real-time changes in the price.
Minterest is a ground-breaking lending protocol built by industry leaders to challenge existing DeFi incumbents and service billions in liquidity by providing its users the highest long-term yield in DeFi.
The Minterest protocol introduces DeFi 2.0; bringing more capital efficiency that allows users to access decentralised token money markets and passes on 100% of the rewards generated to its community of active participants.
The Minterest protocol will be launching it’s only public offering starting from 8th of February 2022 – the LBP token event on Copper. The process of participating in the Minterest LBP token event is explained in this short guide.
Before we proceed, please check out these resources to learn more about our LBP token event:
Why are we launching an LBP token event?
Reasons to participate in the Minterest LBP token event
UPDATE: MNT tokens acquired through the LBP are the only ones without a lockup. All other parties are subject to a minimum block by block vesting of 1 year, making the LBP participants the only ones able to participate in MNT or LP staking.
Minterest LBP Token Event
The Minterest LBP token event is the first public offering of MNT tokens, and the only opportunity for the community to secure an allocation in the public offering prior to product launch.
The LBP on Copper is set up with the following metrics:
Where: Minterest.com
LBP Pools: Copper
Start: 08th of February 2022 – 2 pm GMT
End: 10th of February 2022 – 2 pm GMT
MNT Max Supply: 2,500,000 MNT MNT (2.5% total supply)
LBP Base Pair: USDC/MNT
Initial MNT liquidity provided: 2,500,000 MNT
Initial USDC liquidity provided: 300,000 USDC
LBP Weights: Starting at 98/2 and will gradually adjust to 50/50
LBP Starting price: 5.88 USDC
For more information, please visit Copper.
How to participate?
1. Set up your wallet
If this is your first time participating in an LBP on Copper, the first thing you need is to set up an Ethereum wallet. Copper supports two popular Ethereum wallets: MetaMask and Gnosis. For the purpose of this guide, we will be using the popular MetaMask wallet.
MetaMask wallet can be used as a browser extension, or it can be downloaded as a mobile wallet on both Android or iOS. However, in order to participate in the LBP on Copper, you’ll need a browser extension that you can download from here.
2. Get ETH and ERC20 USDC
To participate in the LBP token event, you will need ERC20 USDC tokens to exchange for MNT, and ETH to fund the gas fee for the transaction. Please use your preferred CEX or DEX to acquire USDC and ETH. You can acquire both on major exchanges such as Binance, Coinbase, FTX, or Kucoin etc, and transfer them to the MetaMask wallet you just created. It is recommended to do this step in advance as some CEXes process the first withdrawal within 12-48 hours.
Please make sure you have some ETH in your MetaMask wallet to fund the gas fees on the network and avoid failed transactions due to insufficient funds. To estimate the gas fees for a token swap, please have a look at the swap fees for Uniswap here. You should always have slightly more ETH in your wallet (more than your estimate) because the gas fees depend on network congestion and the smart contract you’re interacting with.
3. Connect your wallet
Once you have ETH and USDC ready in your MetaMask wallet, go to Copper and select ‘Connect Wallet’ from the top right corner and choose MetaMask.
Note: Minterest or Copper will never ask for your private key or seed phrase.
4. Participate in the LBP token event
When the MetaMask wallet is successfully connected, you can participate in the LBP.
Note: Please keep in mind that trading ERC20 tokens (such as USDC or MNT) on Copper requires two separate transactions: In the first transaction, you give Copper approval to withdraw USDC from your wallet and the actual swap happens in the second transaction.
4.1 Approve USDC usage
To approve the usage of USDC, simply click on ‘Approve USDC usage’ and the MetaMask browser extension will ask for the permission to confirm the approval request transaction. This approval transaction (once completed) will incur a small amount of gas fees depending on the network congestion at the time (anywhere between $10 – $20).
4.2 Acquire MNT
Once the approval request for the usage of USDC by the pool contract is completed, you can input the amount of USDC you would like to swap into the field and Copper will estimate the amount of MNT tokens you will receive.
Please note that the value of MNT can change quickly during the LBP and is reflected real-time on the chart and in the input field box.
Read more about the LBP mechanics here.
If you wish to proceed with the token allocation, click on ‘Get MNT’ and your MetaMask browser wallet will ask for confirmation along with the estimated gas fees for the swap transaction. After you confirm the transaction, you’ll see a success message on the screen.
After the success message, the transaction will be available under the ‘History’ tab of the event, and you’ll be able to see your current MNT balance in the swap window.
To learn more about the Minterest LBP token event, join our dedicated Discord channel where we publish regular updates.
4.3 Minterest dashboard for a user-friendly experience
LBP participants will have access to a user-friendly Minterest dashboard for a simple and transparent experience, hosting an overview and a leaderboard detailing live the USDC spent by various participants in the LBP. They can also track their invested amount and NFT level, along with the real-time changes in the price.
Access the dashboard here.
What is Minterest?
Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it distributes to its users in return for their active participation in governance.
15, February 2022
This blog post will be the source of information to keep track of all the lottery winners and goodies giveaway, including the lotteries that have been concluded till date.
The winners of Minterest’s CAE “Thank You” Lottery week
The NFT APY Boost Lottery Winners
CAE and LBP Quiz Winners
Christmas NFT Giveaway
Congratulations to all winners!
A few weeks ago we announced to you that we are postponing the Minterest Community Allocation Event (CAE). All CAE participants from the Minterest community spent time, effort, and capital so it is only fair that we thank you in return.
All the supporters who successfully deposited their funds in our previous CAE earned an extra 5 NFT “APY Boost” lottery tickets. Our Founder and CEO, Josh Rogers, went live on Telegram every day from 13th to 18th of December and randomly picked the winning four names and described the NFTs that will be awarded.
Here are the winners of Minterest’s CAE “Thank You” Lottery week, which ran from 13th to 18th of December.
Winners will automatically receive the respective NFTs in their Whitelisted wallets after Minterest launches.
Date of Activity Level Awarded TW handle
13-Dec-21 7 @rkeinwold
13-Dec-21 7 @Rv13A
13-Dec-21 7 @squeekie1
14-Dec-21 8 @Donutz_p
14-Dec-21 8 @BeeCeehh
14-Dec-21 8 @Alex5_56
14-Dec-21 8 @AomoiThetan
15-Dec-21 9 @IceFrosTv2
15-Dec-21 9 @__Django__
15-Dec-21 9 @Shukazavr
15-Dec-21 9 @autonomyyy
16-Dec-21 10 @Kuljira29557299
16-Dec-21 10 @LucarioRauld
16-Dec-21 10 @coin_zefa
16-Dec-21 10 @you425you
17-Dec-21 10 @sora0167
17-Dec-21 10 @wallaceplayfrog
17-Dec-21 10 @C120M1
17-Dec-21 10 @Baotruong210794
17-Dec-21 11 @Vlad50372221
10-Jan-22 11 @andyfairweather
10-Jan-22 5 @Will64174363
10-Jan-22 10 @Ton_Gans
21-Jan-22 12 @SamsunG_3971
21-Jan-22 11 @winner_winner_8
21-Jan-22 10 @blakk00
26-Jan-22 12 @rynardt_olivier
26-Jan-22 11 @My_Father_is_ Apst_johnson _suleman
26-Jan-22 10 @xiaohuli112
21-Jan-22 11 @BuyNoEvil
21-Jan-22 12 @Maxverleye8
21-Jan-22 11 @TerraMarllo
21-Jan-22 12 @andyfairweather
21-Jan-22 11 @Celen_Dhyll
11-Jan-22 12 @apestudies
11-Jan-22 11 @siranop4
11-Jan-22 12 @33_boogie
28-Jan-22 12 @qqqqqzd
28-Jan-22 12 @pansgraphy
28-Jan-22 12 @alamsya15372517
28-Jan-22 11 @Hopeluck
28-Jan-22 11 @usyksttw
28-Jan-22 11 @Algojali
28-Jan-22 11 @llrioll
10 Jan – 3 Feb 10 @kobel_maria
10 Jan – 3 Feb 10 @_Glaidor_
10 Jan – 3 Feb 10 @you425you
10 Jan – 3 Feb 10 @YUa0Y3cxFRdESDT
10 Jan – 3 Feb 10 @TerraMarllo
10 Jan – 3 Feb 10 @Mirror_73
10 Jan – 3 Feb 10 @cjk20636
10 Jan – 3 Feb 10 @hilzero1
10 Jan – 3 Feb 10 @luckygirlwowow
10 Jan – 3 Feb 10 @FantasyPolka
8 Feb-2022 11 @BuyNoEvil
NFT APY Boost Lottery Winners
Below are the NFT APY Boost lottery winners announced on Feb 15th 2022
Twitter handle Last 5 characters of wallet ID Levels awarded
MalisDima 81DDD 12
edervr84 E00eF 12
1F28d 12
ojofirme 4b552 12
JeongSunKim3 7756F 12
hangome_sol 78d59 12
DD2007Z fa897 12
AlexandrBelyan1 d0Cd6 12
Yois32015394 2213E 12
okay_k__ 90c46 12
@kokomploker 567Cf 11
you425you 30 e40 11
FFjQheaZweYXVGN 46AEc 11
cryptoice2 74B42 11
LaDucHoan 83c6c 11
JackyHa36068678 708Ef 11
46C12 11
Hamsal1 A9C0b 11
@xemo89 F9595 11
renwirya 1EE11 11
Below are the NFT APY Boost lottery winners announced on Feb 16th 2022
Twitter handle Last 5 characters of wallet ID Levels awarded
KryptoManiaK400 3f886 12
1cF6C 12
ALatyp 1c702 12
NhanAres d31Db 12
erncrest82 eE093 12
ef314 12
shekharmishra51 B7f4a 12
balevser 9c340 12
pontashiki be57e 12
@keimabi 9A838 12
ncatalinpop 5CC93 12
@kobel_maria C4340 12
kittipooh_ c094f 12
icx100 80A3D 12
51F2C 12
Thanach40713989 D511D 11
@MarianaUdroiu adCcB 11
bothu123 bE520 11
wook6850 FFA55 11
blitzlabsPat 420da 11
e32BF 11
@Mr_Slicey 2bC2b 11
@avasilyevv 6DDC7 11
I_am_KRiCH 866c7 11
yesmola0704 1175E 11
Below are the NFT APY Boost lottery winners announced on Feb 17th 2022
Twitter handle Last 5 characters of wallet ID Levels awarded
@KohlrabiLike 16051 10
@JohnnyM42758084 0D556 10
@otto_artena9 ae30d 10
40eD0 10
@CruptoG 76B90 10
@johnnyhhhhhhhh b1dB6 10
@LaDucHoan 83c6c 10
F41f8 10
@Peter_Yang97 314d7 10
@737709674Com 73aC4 10
51F2C 10
@Henryjhh_eth 67757 10
@Przemys56212944 65fC5 10
@MetaJay0 beF76 10
@glCVjvaDJDhgTwO 04214 10
865e1 9
F156d 9
@ichohan2002 8cd99 9
@damiddong 5A8f8 9
a4B57 9
@kennop91 c1A9a 9
@ice_wine_tea 9F32A 9
@itanishqgupta aed9A 9
@ANDREI85432322 1f248 9
@GPayeer 84b0C 9
Below are the NFT APY Boost lottery winners announced on Feb 18th 2022
Twitter handle Last 5 characters of wallet ID Levels awarded
@cryptofan311 c021c 8
@NuiAC125 85090 8
@Mr_Crypto5 E3243 8
@joepurackal 21D2A 8
@mikededurable A88A2 8
@sallytorilak 86A67 7
5D75e 7
091Ac 7
@kbnoh6 6c001 7
@cos_pai 0026e 6
81463 6
@moonsik77 134A5 6
@coolstick7 df585 5
@9UFoTo5TQdv7NrE 50191 5
@CriptoCeelo d0Bac 4
CAE and LBP Quiz Winners
Below are the CAE quiz winners
Serial Number Discord ID
1 guardianangel73#5149
2 scoobygti#6158
3 tblaze#2311
4 eat10#2184
5 jesam84#4130
6 kajuvra77#5307
7 HUNO#0785
8 borand88#7866
9 BM#3453
10 Baldie9111#7598
Below are the LBP quiz winners
Serial Number Discord ID
1 francesco#1023
2 Dautik#3241
3 quintets#3623
4 narcis93#7666
5 Grigore#5006
6 Princess Binnie#4127
7 bartek0210#5843
8 BeeFault#9337
9 SG_Crypto_Dad#0376
10 Name: Michael
Christmas NFT Giveaway
Below are the NFT Giveaway winners announced on Dec 22nd 2022
Serial Number NFT Level Wallet adress
1 Level 8 1411a
2 Level 8 6570e
3 Level 8 c88fa
4 Level 8 be520
5 Level 7 be2dd
6 Level 7 f03eb
7 Level 7 2a7c1
8 Level 6 48836
9 Level 6 3903b
10 Level 5 ed8b0
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
14, February 2022
Minterest LBP: Become a Genesis participant in DeFi 2.0 DeFi is a $100B USD industry in it’s infancy, with a potential Trillion USD market size. While cryptocurrency prices display volatility, the value locked in DeFi shows a sharp increase. Based on this correlation, it seems that the DeFi industry could become a safe haven for participants in this alternative financial ecosystem. As DeFi expands and gains mass adoption, there is potential for it to significantly challenge the traditional collateral-based lending industry.
The launch of the Minterest protocol introduces DeFi 2.0, moving the industry a massive step forward. The protocol genesis will be initiated on the 8th of February 2022 by its only public offering – the LBP token event.
UPDATE: MNT tokens acquired through the LBP are the only ones without a lockup. All other parties are subject to a minimum block by block vesting of 1 year, making the LBP participants the only ones able to participate in MNT or LP staking.
Introducing the most revenue efficient protocol and its architecture
Benefits of a DeFi 2.0 Genesis Investor
LBP – Frequently asked questions
Introducing the most revenue efficient protocol and its architecture
The Minterest protocol is up to 200% more capital efficient than the traditional top 3 DeFi lending solutions like Aave or Compound, while being just as secure. The protocol accomplishes this with two industry-first R&D innovations:
The on-chain Buyback: A treasury algorithm passing all protocol surplus to protocol users instead of the traditional 10-15%, maximizing Minterest user APY drastically.
The on-chain Liquidation Engine: Up to 40% of protocol value is traditionally lost to liquidations because of 3rd parties conducting them off-chain. Minterest executes liquidations on-chain and captures all liquidation fees lost by other protocols, keeping hundreds of millions USD on-chain, increasing user APY.
If you want to learn more about the current and upcoming Minterest innovations, make sure to visit Minterest Docs, the Technology Paper, and our Discord.
Benefits of a DeFi 2.0 Genesis Investor
The LBP is the first public opportunity to invest, the first step in the protocol token launch. LBP Participants can expect an extraordinary APY in the high end of 3-figure and beyond based on 5 key factors:
Minterest token value potential
Receive Minterest NFTs unlocking massive APY Boosts
Minterest dashboard for a user-friendly experience
Exclusive access to the private liquidity mining
Exclusive access to MNT and LP staking
You can calculate your return with our Minterest Token Yield Calculator.
Minterest token value potential
To understand the potential value of the token driven by the industry-first Buyback Mechanism, let’s look at Compound. The protocol had a TVL of $0.5B and grew to a $15B valuation; 30 times growth! But what happened to the value of their token? It only rose by 2 times: from $160 to $320. All because the token value didn’t correlate with Compound’s TVL by design.
The Minterest protocol is the first protocol to link the value of it’s token to TVL. The Buyback automatically uses all protocol surplus to acquire the MNT tokens on the open market and distributes them to the protocol users, being the largest and most consistent buyer. Therefore, when the protocol moves from $100M in TVL during genesis to $10B in TVL, genesis investors who stake MNT can expect tremendous yield.
More TVL > more protocol surplus > more tokens returned to the protocol > more yield.
Receive Minterest NFTs unlocking massive APY Boosts
The NFTs hold tremendous value, unlocking APY boosts up to 50% for as long as three years. Considering 70% of Compound’s TVL is held by 20 wallets, you might conclude that for one of those holders, a 50% APY boost on all TVL deployed will translate into a significant 7-figure value add over years.
Minterest dashboard for a user-friendly experience
LBP participants will have access to a user-friendly Minterest dashboard for a simple and transparent experience, hosting an overview and a leaderboard detailing live the USDC contributed by various participants in the LBP. They can also track their amounts and NFT level, along with the real-time changes in the price.
Access the dashboard here.
Exclusive access to the private liquidity mining
Minterest NFT holders get exclusive access to the private liquidity mining event. The protocol’s private launch is scheduled for the end of Q1 2022. For one month, the protocol will only be accessible to participants who hold an NFT from the LBP, their entry ticket to the pre-mine phase.
Exclusive access to MNT and LP staking
The tokens acquired through the LBP are the only fully-vested tokens, all non-LBP tokens are locked for a minimum of 1 year in a block by block vesting schedule. This is a massive advantage since the LBP MNT tokens are instantly tradeable during the DEX launch and eligible for the LP staking program.
The other option is to stake the MNT LBP token in the Minterest protocol itself, earning all the Buyback rewards distributed to the limited number of stakers.
Both the liquidity mining and MNT/ LP staking together are designed to drive massive APYs at the high end of 3-figures and more for the LBP participants.
LBP – Frequently asked questions
Why do we hold an LBP token event?
The Minterest LBP is a response to increasing requests for access to MNT tokens. The mechanism protects our community from front running by large accounts and bots, built to incentivize a fair distribution of tokens across the 2-day event duration instead of being sold out in no time. To learn more about the “why” and “how-to” Minterest LBP, please read the article here.
What are the LBP Specs?
The LBP on Copper is set up with the following metrics:
Where: Minterest.com
LBP Pools: Copper
Start: 08th of February 2022 – 2 pm GMT
End: 10th of February 2022 – 2 pm GMT
MNT Max Supply: 2,500,000 MNT MNT (2.5% total supply)
LBP Base Pair: USDC/MNT
Initial MNT liquidity provided: 2,500,000 MNT
Initial USDC liquidity provided: 300,000 USDC
LBP Weights: Starting at 98/2 and will gradually adjust to 50/50
LBP Starting price: 5.88 USDCFor more information, please visit Copper.
When is the token private launch on DEXs and CEXs?
Token TGE and private launch on DEXs and CEXs will take place after the Minterest Protocol launches.
What are the vesting terms?
There will be no vesting for the tokens in the public offering. All tokens will be fully unlocked upon the launch of the Minterest Protocol (scheduled for March 2022). They will be fully liquid to trade on exchanges, to stake on Minterest, and to provide liquidity on DEXs.
To learn more, visit our extensive FAQ here: Introducing Minterest – Minterest Docs
What is Minterest?
Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it distributes to its users in return for their active participation in governance.
21, January 2022
04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.
AN UPDATED BLOG FOR CAE 2 (SCHEDULED FOR 24TH JANUARY 2022)
As you all know, we launched the #NextLevelDeFi community allocation event last month that was later postponed due to a delay in the Minterest LBP Token Event. All the participants who deposited their funds in the Community Allocation Event were fully refunded, including the gas fees, on 10th of December.
We are incredibly grateful for the support from everyone who participated and put their trust in the Minterest team. Head over to this blog post to learn more about our community allocation event.
In this short guide, we will explain the process of participating in the Community Allocation Event 2 and how you can become a part of the protocol’s growth journey.
Community allocation rewards

Just a recap from our previous guide; in the Community Allocation phase, people who signed up with the Minterest Sign-up Bot in Telegram will have a guaranteed allocation of between 100 USD and 500 USD.
The Community Allocation Event offers the following rewards:
Guaranteed allocation with the lowest average price in the subsequent LBP. Learn more about how this value is calculated here.
Activation of all NFT lottery tickets held, the CAE 2 participation being the gateways to win an NFT with APY boosts exceeding 7-figure value-add and access to exclusive pre-mining during the private launch of the Minterest protocol in Q1 2022.
How to participate in the Community Allocation Event
(CAE 2)

Step 1: Whitelisting
(Opens 10th January 2022)
Access the whitelisting via confirmation email
10.01.2022 – People who signed up with the Minterest Sign-up Bot in Telegram in December 2021 will receive an email from nextlevel@minterest.com. Please make sure to double check the email address once you receive it to avoid phishing attacks or scammers trying to get access to your funds. We will never request funds via email. This email will only ask you to complete the whitelisting steps in our whitelisting software.
Access the whitelisting via direct access
10.01.2022 – 24.01.2022 -The whitelisting can be accessed through our campaign page here: https://minterest.com/nextlevel
Whitelisting process
10.01.2022 – 24.01.2022 – The email will contain a link to the whitelisting interface. Please make sure the whitelisting email was sent from nextlevel@minterest.com. Then click the link and continue with the whitelisting. To participate in the event, participants must input their email, their sending/receiving MetaMask wallet address and follow us on Twitter.
Once you complete the whitelisting you will receive a confirmation email from noreply+minterest@gleam.io confirming it. This email will contain your unique referral code and a link to the whitelisting page to confirm your participation status.
Refer and earn
We are excited to see our community grow, and you help introducing the #NextLevelDeFi by referring your friends and getting rewards! You’ll get a chance to win 1 more NFT lottery ticket for each referral. Read about the 7-figure NFT lottery prize pool here.
Step 2: Depositing in the CAE 2
(Opens 24th January 2022)
Community Allocation Event access
24.01.2022 – 31.01.2020 – On the 24th of January 4pm GMT+2 you will receive an email that contains a link to the Community Allocation Event Deposit Interface. The event will be open for one week, and you can deposit up to 500 USDC.
You will be able to make a deposit via Metamask. We support both ETH and BSC networks. Read the following instructions on how to set up your Metamask wallet for a low gas fee transaction via the BSC network. Click here.
Your depositing address will also be your Moonbeam network receiving address (since Moonbeam shares the same wallet address structure as Ethereum and BSC) and will be automatically documented when you connect your Metamask wallet.
Final confirmation
24.01.2022 – 31.01.2020 – When your funds are deposited, you will receive a confirmation email, informing you that your funds have safely reached Minterest.
Confirmation of token price
To know exactly how many tokens you will receive through your CAE 2 deposit, you need to wait until the end of the LBP token event on the 11th of February 2022. This day you will receive an email informing you about the number of MNT tokens you have secured in the CAE 2, priced at the lowest average price in the LBP, securing you the best price token price in the whole public event. Read more on how this price is calculated here.
Liquidity bootstrapping pool
More information will follow in a separate article on how to participate in the LBP.
Sign up for the whitelisting and join our Telegram and Discord channels to become a part of our growing community!
What is Minterest?
Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.
10, January 2022
AN UPDATED BLOG FOR CAE II (SCHEDULED FOR 24TH JANUARY 2022)
The Next Level Minterest APY Boost NFT lottery.
The entire premise of DeFi is to create a fairer, more inclusive financial ecosystem for all. However, Minterest is fully aware that the biggest proportion of the beneficiaries are professional investors. For example, according to Dune Analytics. 72% of all TVL in Compound is held by only a few wallets. In addition, users often miss out on allocations, and Minterest aims to change this.
Firstly we have created an environment whereby everyone who signs up for the whitelisting is guaranteed an allocation. Secondly we launched a ground-breaking NFT lottery with 7 figure APY boosts that the entire community can access, instead of a wealthy few!
Why NFTs?
The NFTs are designed to incentivise investors with large TVL and to foster long-term loyalty. The NFTs will give the top level investors the ability to earn up to 50% more APY for a three-year period on unlimited TVL. For the largest professional users, this NFT unlocks protocol functionality that can result in millions of dollars of additional rewards. Further, the NFTs work as “keys” to exclusive protocol functionality, e.g. early access to the protocol beta launch.
The NFTs could generate tremendous value for anyone who holds them, and the entire Minterest community will have the opportunity to access them.
Each NFT features custom artwork in the image of a blockchain superstar, crafted by noted illustrators. View all unveiled NFTs and marvel at the range of artistic expression at our NFT gallery here: NFT gallery.
How it works
The lottery has 85 NFTs – all providing different boosts over different time periods for unlimited TVL. The 85 NFTs will produce a protocol functionality value-add which will exceed 7-figures – Our Level 1 NFT, featuring Satoshi Nakamoto, provides a rewards boost of 50% over 36 months, plus early access to the Minterest protocol beta launch.
NFT lottery tickets can be collected throughout the Minterest Next Level Community Allocation Event (CAE), benefiting early supporters and rewarding referrals.
The NFT Levels & functionality
The Minterest APY boost NFTs have different functionalities based on their levels. As we mentioned in a previous article, the value-add of one NFT can exceed 7 figures. Please visit here for more information: NFT lottery. We are making sure that all our community benefits from the tremendous value of these NFTs, locking away 85 of those in the lottery pool!
The major lottery for Minterest NFTs will take place on the 14th of February. To be eligible you must make a deposit in CAE or LBP. Earn NFT “APY Boost” lottery tickets by referring a friend in the Whitelisting interface. Each person referred will result in an additional lottery ticket for you and them! Please ensure that you complete all mandatory steps in the Whitelisting.

Tier

NFT Totals

Emission Boost

Expiry (Mth)

NFT in Lottery Pool

1

1

50

36

2

9

45

30

3

15

42.5

28

4

30

40

26

1

5

60

37.5

24

2

6

90

35

22

3

7

120

30

20

4

8

150

27.5

18

5

9

175

22.5

12

10

10

350

20

9

15

11

960

20

6

20

12

1040

20

3

25

According to the Whitepaper 1.2 updates, the validity boost has been changed.

Tier

NFT Totals

Emission Boost

Expiry (Mth)

1

1

50

38

2

9

45

32

3

15

42.5

30

4

30

40

28

5

60

37.5

26

6

90

35

24

7

120

30

22

8

150

27.5

20

9

175

22.5

14

10

350

20

11

11

960

20

8

12

1040

20

5

What do I need to do to participate
You can simply follow this link and complete the whitelisting steps.

You can earn NFT ‘APY Boost’ lottery tickets by referring a friend in the whitelisting interface. If a referral completes at least one action, both of you will receive an additional lottery ticket.

To be eligible to participate in the NFT ‘APY Boost’ lottery, you must make a deposit in CAE 2.

Did you Whitelist in the December 2021 CAE and are curious about whether you need to Whitelist again?
If you participated in the earlier CAE in December 2021 and opted to keep your deposit with Minterest, you are not required to Whitelist again. However, Whitelisting again with the same email address can earn you more lottery tickets through referring friends. Note, all of your previously earned lottery tickets have been rolled-over into this CAE!
Received a refund or did not make a deposit at all, you are required to Whitelist again using the same email address. Any previously earned lottery tickets will roll-over into this CAE too!
Have a look at our event page for more information and Don’t forget to follow us on Twitter or join our Telegram and Discord channels to ask any questions and stay up to date with our current events.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on rewards to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation rewards with users.
10, January 2022
Welcome to the sixth issue of the Minterest weekly updates where we provide key insights to our community for our weekly progress. At Minterest, we are building a truly fair and community-centric DeFi Lending protocol, starting the era of #NextLevelDeFi.
1) Security
At Minterest, the security of the protocol is one of our main priorities. This week, the backend development team spent a lot of time on fixing and improving the security of the Minterest protocol.
The team modified hundreds of lines of code to fix even the smallest potential weak points and also optimize the contracts to consume less gas and be more efficient. The team will continue working on these improvements in the coming weeks.
2) Emission System Contracts
The team also finalized a new contract for the Emission system; the logic responsible for distribution of MNT tokens for using the protocol. This Emission system takes into consideration the amount of lent and borrowed assets, share of each user in a market, and distributes the rewards on a per-block basis.
As this logic for the Emission system is ready, the team will now start integration of NFT boosts into the contract.
3) Dripper Function for the Buy Back Contract
The team has added dripper functions to the The Buy Back contract, responsible for the process of distribution of MNT tokens during the Buy Back.
These dripper functions will also define how much of all the MNT tokens in a treasury will be distributed in the next month, and how frequently this will happen. The plan is to have it drip a minor amount of MNT tokens on an hourly basis – thus the name Dripper.
4) Improved Layouts
The web development team has been busy improving the layouts for the Minterest products and the upcoming community events. For the mobile-only users, the team has implemented a mobile view for community events and added support for some of the mobile wallets to make the experience seamless for users.
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on the protocol surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation rewards with users.
06, January 2022
Welcome to the 5th issue of the Minterest weekly updates where we provide key insights to our community for our weekly progress. At Minterest, we are building a truly fair and community-centric DeFi Lending protocol, starting the era of #NextLevelDeFi.
1) New and Improved Community Allocation Event Application
The Minterest development team is working hard to bring new innovations and improvements to the pipeline. One of the first things we accomplished this week is the new and improved Community Allocation Event application, which is much more robust and user-friendly. The new application can also track user status based on their on-chain activity.
2) Finalising the Test Structure
Another milestone for this week is bringing a huge improvement to the Minterest’s test structure. The Minterest codebase now has over 10,000 lines of test code, which is now properly refactored and optimised to make it run faster with efficient execution.
Bringing such improvements to the test structure took more than a month which is now being finalised.
3) More Efficient Buy Back Logic
The Minterest Buy Back logic has also been improved with more efficient implementation. The previous implementation of the Buy Back logic involved a user loyalty curve which was very expensive in terms of gas fees.
The Buy Back calculation is more frequent as it happens every time a user enrolls or leaves the Buy Back, the team improved the mathematical model to simplify the calculation of user bonus without losing too much accuracy.
This new mathematical model was built from scratch on Python first, then tested on many sets of data and was finally implemented in the Solidity smart contract.
4) NFT Contracts
This week, the NFT contracts were finalized and merged into the master branch. Minterest NFTs won’t just be used as collectibles; they will boost the emission rewards for using the protocol.
Minterest NFTs aren’t linked to the underlying economy models, this is a work in progress for upcoming weeks.
5) New Error Handling System
The last point of focus during this week was a new error handling system. The new implementation is sophisticated and light-weight that helps the team to reduce the weight of contracts.
Implementing this system involved refactoring of most of the application files; more than 2,000 lines of code were modified.
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses with users.
30, December 2021
A MESSAGE FROM JOSH ROGERS, FOUNDER & CEO OF MINTEREST
While there is a lot of excitement around the Minterest Community Allocation Event (CAE), there has also been a lot of questions. So I thought It would be a good idea to give you an overview of our thinking around it.
Firstly, it’s important to know that the CAE was not intended to be Minterest’s key fund-raising event which is why the CAE hasn’t been promoted widely on social media. The CAE’s fundamental purpose is to support our community of smaller participants. It is often the case that smaller users get locked out of participating in allocation events, and due to the fact that we have put our community at the core of everything we do, we wanted to walk the talk by making it fair and equitable.
The challenge we faced was “how do we support the requirements of Minterest, while also addressing the inclusion of smaller participants?”. The answer has two elements – allocation and price.
AllocationFor smaller supporters allocation is often an impossible dream. IDOs for example, are not intended as key fund-raising events either, but instead they are low cost community building exercises. Usually, the community around an IDO platform piles into the project chasing tiny allocations which they almost never receive. The smaller participant shares a very common frustration; being promised much and delivered little.
PriceMinterest is using an LBP to conduct its fundraise. LBPs are considered the fairest form of fundraising, given that anyone may participate and buy as much as they want, but once again, they are often intimidating for smaller supporters given their pricing mechanics. People can be uncertain about when and at what price they should buy, given the inevitable FOMO on accessing a potentially better price later. Ensuring that all participants can get the same allocation and at the same lowest price in Minterest’s LBP, was our way of delivering on our promise of a fairer, more inclusive DeFi ecosystem.
Why care about smaller participants if Minterest’s liquidity will mostly be provided by large players?The short answer is long term sustainability, global businesses do not get built overnight and while rapid global growth is appealing and desirable, sustainable businesses grow over time, and this is why small participants matter to Minterest.
Trust – not just lip serviceWhen it comes to people’s assets we are acutely aware that brand and trust really matter. People are faced with plenty of less than honourable projects, offering ridiculous returns wrapped in short-term unsustainable strategies. However those models and returns are like sandhills, they are likely to move or disappear overnight. One day everyone will wake up thinking, “Where did all the crazy stuff go?” and when they do, Minterest will be there, consistently and reliably growing wealth for its community.
From acorns to oak treesOak trees grow from acorns. In crypto, the number of emerging large investors has grown rapidly, but this pool is finite and limited. Minterest recognises that their future lives in the acorns, the billions of people who want to sustainably grow their wealth in a safe and fair ecosystem. Minterest wants to be there for smaller participants now, and in the future, supporting them in their journey.
Is this rational strategically sound?Yes, and it’s one way Aave has outcompeted Compound in achieving market dominance. There have been other more significant factors but Aave has been much more inclusive and community centric from inception and has been rewarded for doing so, as its community has grown both in size and asset wealth.
So this should answer your questions on why a CAE, it’s for you, our valued supporters and we are excited about building a world class protocol that truly delivers on our vision of fairer finance for all.
Yours sincerely,
Josh Rogers
CEO
Minterest
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects. It is a decentralised financial platform that is fair and inclusive, with the specific aim of putting user benefits at its core.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on protocol surplus to contributing platform users. This way, users receive protocol surplus on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation revenues with users.
17, December 2021
Editor’s note, 20th Dec 2022: Lottery results have been appended to this page. This lottery has concluded, however, there will be another major lottery after the LBP on 15th February 2022.
A few days ago we announced to you, our valued supporters, that we were postponing the Minterest Community Allocation Event (CAE).
In the spirit of the Minterest ethos it was an easy decision to automatically return your funds plus gas fees on Friday, 10th December 2021. We also set up a process to allow you, the community, to opt-in to leave your funds with Minterest through the rescheduled date for LBP from 8th February 2022 to 11th February 2022.
The opt-in process is now closed, and we are overwhelmed and humbled by your response, with the majority of you deciding to keep your deposits in place. We did not take your decision lightly, and we profoundly appreciate the trust and confidence you have placed in Minterest.
All CAE participants from the Minterest community spent time, effort, and capital so it is only fair that we thank you in return. Here is what we are going to do for every person who successfully made deposits during the CAE:A few days ago we announced to you, our valued supporters, that we were postponing the Minterest Community Allocation Event (CAE).
In the spirit of the Minterest ethos it was an easy decision to automatically return your funds plus gas fees on Friday, 10th December 2021. We also set up a process to allow you, the community, to opt-in to leave your funds with Minterest through the rescheduled date for LBP from 8th February 2022 to 11th February 2022.
The opt-in process is now closed, and we are overwhelmed and humbled by your response, with the majority of you deciding to keep your deposits in place. We did not take your decision lightly, and we profoundly appreciate the trust and confidence you have placed in Minterest.
All CAE participants from the Minterest community spent time, effort, and capital so it is only fair that we thank you in return. Here is what we are going to do for every person who successfully made deposits during the CAE:
You will receive 5 extra lottery ticketsAll supporters who successfully deposited funds will earn an extra 5 NFT “APY Boost” lottery tickets.

You will participate in the exclusive CAE “Thank you” lottery for 20 NFTsA total of 20 NFTs will be distributed to community members daily, from Monday, 13th December until Friday, 17th December at 12:00pm GMT

You also keep all lottery tickets earned for the next major lottery after the LBPAll of your earned lottery tickets will also be applied to the next major lottery held on the 15th February 2022 after the LBP. These actions are simply to say a heartfelt thank you for your support and understanding.
Understanding the value of an NFT
The value of these NFTs has been described as very significant. Depending on the level, the NFT holders could be looking at a 7 figure asset. Not only will the NFT provide a massive APY boost, it will work as a “key” to valuable protocol functionality, providing exclusive access for example, to a pre-mining phase of the protocol private launch.
For more information on the NFTs functionality and value, please visit our NFT gallery, read our NFT explainer article, and explore our whitepaper.
How the lottery will work
The lottery includes 20x NFTs from levels 7 through 10, each with their own special APY emissions boost rewards. Each day 4x new NFTs will be awarded as follows:
Meet our CEO and founder as he draws the winning tickets live on Telegram
Each day of the event, our Founder and CEO, Josh Rogers, will be live on Telegram at 12pm GMT to randomly draw the winning four names and describe the NFTs that will be awarded. The daily results will be published on Twitter, in case you do not manage to join the live event.
Within 24 hours of the daily ticket announcements, winners will receive an email from Minterest providing instructions on how to claim their NFT.
We wish you the best of luck and we are excited to see who will be walking away with these incredible crypto assets.
TLDR: Minterest CAE “Thank you” Lottery
What: 20 NFTs will be given away to CAE participants
Where: Minterest’s Telegram Community Chat
When: Daily, from Monday, 13th December until Friday, 17th December at 12:00pm GMT
Who: All Community Allocation Event (CAE) participants
Results of the Minterest CAE “Thank You” Lottery
Here are the winners of Minterest’s CAE “Thank You” Lottery week, which ran from 13th to 18th December.
Winners are identifiable via the last five digits of their wallet addresses used to deposit USDC during the CAE. Due to privacy reasons, emails and names will not be shown.
Day 1
Level 7 NFTsEd40a
057df
42a35
c5e98
Day 2
Level 8 NFTs5556A
5Ad9B
5148D
666a8
Day 3
Level 9 NFTs45C89
1dd23
3c0Db
89fd1
Day 4
Level 10 NFTs8daB4
a4660
d2531
30e40
Day 5
Level 10 NFTs7F603
54aA1
189f9
9F961
Congratulations to all winners! You will have received an email from us, detailing next steps on how to claim your awarded NFT.
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on revenue to contributing platform users. This way, users receive protocol revenue on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation revenues with users.
09, December 2021
A MESSAGE FROM JOSH ROGERS, FOUNDER & CEO OF MINTEREST
What has become very evident over the past week is that holding the Next Level LBP on 15th December will not allow enough time to properly explain the various innovations of the Minterest protocol, plus the novel concept of NFTs being paired with protocol functionality, both of which are essential components of the LBP.
Holding the LBP within given time frames was therefore a strategic error, an error that was mine and one for which I apologise.
Therefore we will now hold the LBP from 8th to 11th February 2022. Doing so however will impact people who participated in the recent Community Allocation Event (CAE).
In participating in the CAE, the agreement with Minterest was simple and clear. Participants would forward their funds and Minterest would hold an LBP from 15th to 18th December. Following this, participants would know the price they paid for MNT, which would be the lowest average price achieved in the LBP.
In rescheduling the CAE, Minterest is breaching its agreement with its community and in our book, this is not OK. To restore our relationship with our community, we are undertaking the following:
We will reschedule the CAE for 24th January 2022 with the same financial terms as before.

As a default position, we will return every participant’s funds, plus any gas fees they may have incurred, on 10th December 2021. This is a very significant undertaking given the number of people who participated. It is possible there may be some minor delays for a small number of people and if so, please bear with us, we will resolve such issues as quickly as possible.

Should people find it more convenient to not have their funds returned as they are clear they will again participate next year, then they may notify us with an “opt in ”. We will hold their funds, and then roll them into the new CAE on 24th January 2022 on identical terms. Opt in details are below.

We will provide an additional series of NFT giveaways, as compensation for the inconvenience caused.Again, please find the details below.
Minterest is introducing new innovation to DeFi intended to be breakthroughs in the lending protocols sector. These innovations are significant in number, complex technologically and regarding model design, highly sophisticated. These schedule changes now allow us to properly communicate these innovations to enable
Minterest’s community to properly appreciate their value.
The women and men behind the Minterest protocol are unquestionably amongst the very best in the game. With regards to this error in my judgement, I would ask you please judge me and not them, or their extraordinary work.
Yours sincerely,
Josh Rogers
CEO
Minterest
MINTEREST’S NEW TREASURY FUNDRAISING DETAILS
Opt-out of automatic refund
All funds deposited during the Community Allocation Event will be automatically refunded.
If, however, you prefer to keep your funds with us until the New Community Allocation event on 24th January 2022 please enter your Whitelisted email into the following Google Form on or before 9th December (15:00 GMT) here
ADDITIONAL INFORMATION
Supporters that incurred an error during their deposit might face a delay, and we will work to resolve this as soon as possible.

Bonus NFT Lottery TicketsAs a thank you for your understanding and patience, all Community Allocation Event participants who deposited will be awarded 5 additional NFT “APY Boost” lottery tickets.

Thank-You NFT Lottery WeekAll those who have lottery tickets AND have participated in the Community Allocation Event will participate in an additional “Thank-You” lottery to win NFTs during the week of 13th December. The lottery is simply to express our gratitude to our early supporters and their experienced inconvenience.

LBP NFT Lottery WeekIn addition, all existing lottery tickets will carry over to the next major lottery after the LBP. The subsequent lottery will take place during the week of 15th February 2022.
Questions
Please reach out to us via the following channels: Telegram & Discord
What is Minterest?
Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.
07, December 2021
Investors are a critical part of the Minterest journey; the process we went through to select them was intensive. They were chosen because of their track record, long-term view and value add. Each week we will be featuring a new investor to give you insights into why these investors are so valuable for the Minterest protocol.
This week, we are focusing on Ellipti.
Ellipti is a Seoul, South Korea based company that focuses on building sustainable ecosystems for blockchain companies to navigate the markets. It does this by setting up the most effective and efficient Go-To-Market strategies, for community expansion/growth, marketing and business development. Ellipti continuously monitors markets to provide insights to their clients, ensuring their business plans remain relevant and current in today’s fast changing environment.
The Ellipti team implements their strategies by covering community growth, marketing, and PR, but they also focus on business development. They seek out potentially synergistic opportunities by leveraging their network pool for the benefit of all the participants.
They also host quality on-line & off-line events for companies who wish to establish their brands. The types of events they host are varied, to align with the diverse needs of their clients.
Founded in 2018, Ellipti is led by industry luminaries aiming to guide their investments towards sustainable growth by supplying cutting edge market analysis. The team assists with product execution by supporting engagements from beginning to end, helping the companies they work with achieve their full potential.
John Kwak, Founder of Ellipti, says
“Sustainable token model & treasury management are crucial for DeFi protocols that are set to become NEO banks in the future. Minterest initially intrigued us because of the sustainable token model they are building. This one of a kind model will solve so many issues facing DeFi today, and we are excited to be a part of the project from its inception. The future is bright for Minterest, and we are proud to be a part of its story.”
Kyn Chaturvedi, Chief Operating Officer of Minterest, said,
“The team at Ellipti has been extremely supportive of Minterest. They are always on-hand to assist, helping to ensure that we pursue the most effective strategy and present Minterest in the best possible light. We are honored to have them onboard, and appreciate their continued efforts to expand the awareness and use of the Minterest protocol in the Korean market.”
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects. It is a decentralised financial platform that is fair and inclusive, with the specific aim of putting user benefits at its core.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on protocol surplus to contributing platform users. This way, users receive protocol surplus on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation revenues with users.
01, December 2021
04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.
We’re excited to announce that Minterest—a value-capturing lending and borrowing protocol designed to make DeFi fairer—is integrating Chainlink Price Feeds on Moonbeam. The integration will allow Minterest to fetch high-quality price data during core protocol functions such as taking out and redeeming loans, and triggering liquidations of undercollateralized positions. Integrating the industry-leading oracle solution will help ensure that the prices referenced within Minterest are reliable and tamper-proof, protecting users against oracle manipulation attacks and other outlier events, such as flash crashes, flash loan attacks, and exchange downtime.
Minterest is a lending protocol on Moonbeam built to service billions in TVL and challenge existing DeFi incumbents. The protocol offers a decentralized money market, combined with an incentive structure that will facilitate and promote the widespread adoption of DeFi. By utilizing its own buyback mechanism, the protocol passes on 100% of generated surplus to its community of active participants.
Minterest captures value from the combination of interest rate, flash loan, and liquidation fees which are then passed on to Minterest users participating in the protocol’s governance over time. This results in high long-term yields and incentivizes long-term liquidity for the protocol.
A fast and secure oracle mechanism delivering reliable price feeds to determine borrowing rates and collateralization ratios is critical for the Minterest platform to operate in a safe and reliable manner. Relying on any solution that uses a single source for data delivery could result in it being compromised, unresponsive, or otherwise providing faulty information — putting the entire protocol at risk.
We decided to integrate Chainlink because it is the most time-tested decentralized oracle solution, backed by high-quality data, secure node operators, and a robust reputation framework for proving the security and performance of its systems. With Chainlink, prices referenced by Minterest are secured by a decentralized network of independent, Sybil-resistant oracle nodes run by leading blockchain DevOps with a proven track record of high availability and tamper-proofness in their delivery of data on-chain. These Chainlink nodes source data from numerous independent, high-quality data aggregators like BraveNewCoin and Amberdata, meaning there are multiple data sources that each represent a volume-weighted price aggregated from all relevant centralized and decentralized exchanges. This sourcing method is key because it prevents outlier price data on single exchanges from corrupting the aggregated price referenced by Minterest during core protocol functions. As a result, Minterest will consistently issue loans and trigger liquidations at fair market value and keep the protocol fully collateralized and solvent.
“With the integration of Chainlink Price Feeds, we can be certain that we’re using the leading oracle infrastructure available on the market, and our users have a highly reliable market data solution securing their loans,” stated Josh Rogers, CEO of Minterest. “As we continue to expand our lending platform and increase DeFi adoption on Moonbeam, a reliable oracle mechanism allows us to get closer to our mission of increasing fairness and transparency in the world of finance.”
“The launch of Minterest gives Moonbeam users a best-in-class lending experience with an easy-to-use interface and an emphasis on long-term yield,” said David Post, Managing Director of Corporate Development and Strategy at Chainlink Labs. “We’re excited to support Minterest with our decentralized price feed solution in increasing DeFi adoption in the Polkadot ecosystem with a long-term mindset.”
So welcome to Minterest, in your best interest
About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.
29, November 2021
Investors are fundamental to Minterest’s journey and the selection process undertaken by the team was intensive. Each investor was chosen because of their track record, long-term view and value-add to the team and protocol. We thought featuring them, and providing insights into why they are so important to Minterest, would be worthwhile, and possibly valuable, for other startups in the space.
This week, CMS Holdings LLC is in the spotlight.
CMS Holdings LLC is a principal investment firm that focuses on making investments across the crypto asset ecosystem. Incorporated in Delaware, U.S., they look to deploy capital in liquid and illiquid crypto tokens, and take up equity stakes in selected companies. CMS carefully chooses to partner with some of the most exciting up and coming technical protocols and projects in the industry.
Led by industry experts, CMS Holdings LLC is now one of the most prominent investors supporting blockchain and DeFi projects in the crypto ecosystem.
CMS Holdings LLC said,
“We were initially inspired to invest in Minterest because they have engineered a majorly innovative improvement in the current DeFi ecosystem by solving some of the fundamental issues facing legacy DeFi protocols. We were compelled by their unique token buyback mechanism, which is the first of its kind in DeFi and a truly sustainable and long-term model. It’s this kind of innovation that really attracts us as investors, and we couldn’t be happier to be on this journey.”
Kyn Chaturvedi, Chief Operating Officer of Minterest, said,
“CMS Holdings LLC has built a wealth of expertise through investments in key pillars of the blockchain space. Their impressive track record carries with it strategic insights and an unparalleled network — the results of which have already borne fruit for us. We anticipate this relationship as core to Minterest’s success in creating a fairer and more sustainable ecosystem in DeFi.”
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service billions in Total Value Locked (TVL) in DeFi lending projects, with the specific aim of putting user benefits at its core. It has been engineered to ensure that users have access to a fair and inclusive decentralised DeFi platform.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on rewards to platform users and it’s unique on-chain treasury captures and shares the value created by liquidation processes with users. This means that users participate in rewards generated by the protocol, in addition to earning industry leading borrowing/lending rates. This results in potentially the highest long-term yields in DeFi.
28, November 2021
Welcome to the fourth issue of the Minterest weekly updates where we provide key insights to our community for our weekly progress. At Minterest, we are building a truly fair and community-centric DeFi Lending protocol, starting the era of #NextLevelDeFi.
1) Buy Back Logic
This week was one heck of a busy week for the entire Minterest team as we were working on the upcoming community allocation event. The team built the website and all the underlying systems that are essential to support the community allocation event and facilitate our users with an intuitive and comfortable experience.
Check out our community allocation website here.
2) Smart Contracts for Vesting and Whitelisting
Aside from our major community allocation event, the team has also finalised the development of two more smart contracts: The Vesting contract and The Whitelist contract.
Vesting Contract: This contract deals with the allocation of MNT tokens to a wallet address, but with a vesting mechanism that limits the available amount and slowly releases the MNT tokens during a set period of time. Vesting is a common mechanism that limits the selling pressure on the token, especially during the early stages of the protocol launch.
Whitelist Contract: This contract deals with the permissions, and limits who can use the Minterest protocol. When the protocol will be at its initial stages with limited functionality, only whitelisted users will be able to use the Minterest protocol.
3) Access Control System
During this week, the team also built an access control system on top of admin functions of the Minterest protocol. With the new access control system, only a consensus of council of Minterest executives can apply changes to the protocol economy and setup, e.g., adding new currencies or disabling them before the whitelist mode can only be done once 3 out of 5 executives sign the transaction.
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses with users.
26, November 2021
As you all know, we launched the #nextleveldefi community allocation event last month that was later postponed due to a delay in the Minterest LBP Token Event. All the participants who deposited their funds in the Community Allocation Event were fully refunded, including the gas fees, on 10th of December.
We are incredibly grateful for the support from everyone who participated and put their trust in the Minterest team. Head over to this blog post to learn more about our community allocation event.
In this short guide, we will explain the process of participating in the Community Allocation Event and how you can become a part of the protocol’s growth journey.
Community allocation rewards
Just a recap from our previous guide; in the Community Allocation phase, people who signed up with the Minterest Sign-up Bot in Telegram will have a guaranteed allocation of between 100 USD and 500 USD.
The Community Allocation Event offers the following rewards:
Guaranteed allocation with the lowest average price in the subsequent LBP. Learn more about how this value is calculated here.
NFT lottery entry to win an NFT with APY boosts exceeding 7-figure value-add and access to exclusive pre-mining during the private launch of the Minterest protocol in Q1 2022.
How to participate in the community allocation event
WHITELISTING
Access the whitelisting via confirmation email
10.01.2022 – People who signed up with the Minterest Sign-up Bot in Telegram will receive a confirmation email from nextlevel@minterest.com – please make sure to double check the email address once you receive it to avoid phishing attacks or scammers trying to get access to your funds. This email is not to request funds. This email will only ask you to complete whitelisting steps.
Access the whitelisting via direct access
10.01.2022 – 24.01.2022 – If you have not signed up with the Minterest Sign-up Bot in Telegram – the sign-up is still open here:
Whitelisting process
10.01.2022 – 24.01.2022 – The email will contain a link for the whitelisting process from nextlevel@minterest.com. Please double check the email address that the whitelisting email was sent fromnextlevel@minterest.com before clicking on anything.
Then click the link and fill in the whitelisting requirements. To participate in the event, participants must input their email, their sending/receiving wallet address and follow us on Twitter.
Refer and earn: We are excited to see our #NextLevelDeFi community grow, and you can be a part of the journey by referring your friends. You’ll also get a chance to win 1 more NFT lottery tickets for each referral. Read about the 7-figure NFT lottery prize pool here.
Once you complete the whitelisting you will receive a confirmation email from noreply+minterest@gleam.io confirming it. This email will contain your unique referral code and a link to the whitelisting page to confirm your participation status.
NFT lottery updates during whitelisting process
You will receive email updates every second day regarding the total amount of lottery tickets you have earned.
COMMUNITY ALLOCATION EVENT
Community Allocation Event access
24.01.2022 – 27.01.2022 – You will soon receive an email that contains a link to the Community Allocation Event. The event will be open for three consecutive days, and you can deposit up to 500 USDC. Your depositing address will also be your Moonbeam network receiving address (since Moonbeam shares the same wallet address structure as Ethereum and BSC) and will be automatically documented when you connect your Metamask wallet.
You will be able to make a deposit via Metamask. We support both ETH and BSC networks. Read the following instructions on how to setup up your Metamask wallet for a low gas fee transaction via the BSC network. Click here.
Final confirmation
When your funds are deposited, you will receive a final confirmation email. After the LBP token event is completed, you will receive another email notification informing you about the number of MNT tokens secured at the lowest average price in the LBP. Read more on how this price is calculated here.
Liquidity bootstrapping pool
More information will follow in a separate article on how to participate in the LBP.
Sign up for the whitelisting and join our Telegram and Discord channels to become a part of our growing community!
What is Minterest?
Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.
24, November 2021
The Next Level Minterest APY Boost NFT lottery.
The entire premise of DeFi is to create a fairer, more inclusive financial ecosystem for all. However, Minterest is fully aware that the biggest proportion of the beneficiaries are professional investors. For example, according to Dune Analytics. 72% of all TVL in Compound is held by only a few wallets. In addition, users often miss out on allocations, and Minterest aims to change this.
Firstly we have created an environment whereby everyone who signs up for the whitelisting is guaranteed an allocation. Secondly we launched a ground-breaking NFT lottery with 7 figure APY boosts that the entire community can access, instead of a wealthy few!
Why NFTs?
The NFTs are designed to incentivise investors with large TVL and to foster long-term loyalty. The NFTs will give the top level investors the ability to earn up to 50% more APY for a three-year period on unlimited TVL. For the largest professional users, this NFT unlocks protocol functionality that can result in millions of dollars of additional rewards. Further, the NFTs work as “keys” to exclusive protocol functionality, e.g. early access to the protocol beta launch.
The NFTs could generate tremendous value for anyone who holds them, and the entire Minterest community will have the opportunity to access them.
Each NFT features custom artwork in the image of a blockchain superstar, crafted by noted illustrators. View all unveiled NFTs and marvel at the range of artistic expression at our NFT gallery here: NFT gallery
How it works
The lottery has 85 NFTs – all providing different boosts over different time periods for unlimited TVL. The 85 NFTs will produce a protocol functionality value-add which will exceed 7-figures – Our Level 1 NFT, featuring Satoshi Nakamoto, provides a rewards boost of 50% over 36 months, plus early access to the Minterest protocol beta launch.
NFT lottery tickets can be collected throughout the Minterest Next Level Community Allocation Event (CAE), benefiting early supporters and rewarding referrals.
The NFT Levels & functionality
The Minterest APY boost NFTs have different functionalities based on their levels. As we mentioned in a previous article, the value-add of one NFT can exceed 7 figures. Please visit here for more information: NFT lottery. We are making sure that all our community benefits from the tremendous value of these NFTs, locking away 85 of those in the lottery pool!
The major lottery for Minterest NFTs will take place on the 14th ofFebruary. To be eligible you must make a deposit in CAE or LBP. arn NFT “APY Boost ” lottery tickets by referring a friend in the Whitelisting interface. Each person referred will result in an additional lottery ticket for you and them! Please ensure that you complete all mandatory steps in the Whitelisting.
What do I need to do to participate
You can simply follow this link and complete the whitelisting steps.
You can earn NFT ‘APY Boost’ lottery tickets by referring a friend in the whitelisting interface. If a referral completes at least one action, both of you will receive an additional lottery ticket.
To be eligible to participate in the NFT ‘APY Boost’ lottery, you must make a deposit in CAE 2.
Did you Whitelist in the December 2021 CAE and are curious about whether you need to Whitelist again?
If you participated in the earlier CAE in December 2021 and
Opted to keep your deposit with Minterest, you are not required to Whitelist again. However, Whitelisting again with the same email address can earn you more lottery tickets through referring friends. Note, all of your previously earned lottery tickets have been rolled-over into this CAE!
Received a refund or did not make a deposit at all, you are required to Whitelist again using the same email address. Any previously earned lottery tickets will roll-over into this CAE too!
Have a look at our event page for more information and Don’t forget to follow us on Twitter or join our Telegram and Discord channels to ask any questions and stay up to date with our current events.
What is Minterest?
Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.
24, November 2021
Minterest is a ground-breaking lending protocol built by industry leaders to challenge existing DeFi incumbents and service billions in liquidity and is so doing providing its users the highest long term yield in DeFi.
As you all know, we launched the #nextleveldefi community allocation event last month that was later postponed due to a delay in the Minterest LBP Token Event. All the participants who deposited their funds in the Community Allocation Event were fully refunded, including the gas fees, on 10th of December.
In this short guide, we will explore the Minterest’s public distribution that will occur in two distinct phases:
Phase 1: Community Allocation Event
Phase 2: LBP Token Event (Liquidity Bootstrapping Pool)
Both phases are intended to be completed by Q1 2022. In parallel, the protocol will be assessed by leading security firms, getting ready for the private launch and TGE later this year.
Phase 1: Minterest Community Allocation Event
The community allocation event is intended to ensure a maximum allocation of 500 USD to any and all members of Minterest’s community.
Who is eligible to participate in the Minterest Public Distribution?
The Minterest Public Distribution is open to anyone except for citizens, residents, and incorporated entities of the United States and the following sanctioned countries: Cuba, Iran, Crimea Region of Ukraine, North Korea, Syria.
How do I sign up for the Minterest Community Allocation event?
If you signed up during the earlier #nextleveldefi event, your allocation is confirmed. If you did not, please check the following link to sign up: here .
For those who are interested in participating in the community allocation event we created a short guide here.
What is the price of the Minterest token (MNT)?
The price is determined based on phase 2: the Next Level liquidity bootstrapping pool (LBP). All participants in Minterest’s community allocation event will receive MNT at the lowest average price set in the Next Level LBP. Please see the details in Phase 2 below.
What is an LBP and how does this all work?
Please see the details in Phase 2 below.
Why is there a guaranteed allocation?
The public offering was designed to uphold the community-centric principles upon which Minterest was designed throughout its fund raising process. The community allocation event is designed to:
Enable early supporters to secure an allocation prior to the Next Level LBP.
Provide early supporters with confidence regarding their pricing.
Ensure gas prices are minimized for those who may be impacted during the Next Level LBP.
Why do you receive the lowest average price in the Next Level LBP?
Minterest’s goal is to be fair and equitable while ensuring a wide distribution of the native MNT token. Irrespective of any outcomes in the Next Level LBP, the participants in the Minterest community allocation event are assured of the lowest average price that occurs during this process. In the following section we describe the Next Level LBP in detail and how LBP architecture is used to derive a fair market structure through price discovery.
What are the Community Allocation Event terms?
The allocation starts from min. 100 USD to max. 500 USD. The maximum allocation can be increased later, based on the response from the community. Anything below the minimum and above the maximum amount will be forwarded to the treasury.
The price is the average lowest price in the subsequent LBP (read more below).
The funds can be sent through the Ethereum or Binance Smart Chain network (to reduce gas fees). We will support Metamask integration, please read here how you can add the BSC network on Metamask.
There will be no vesting for the tokens in the public offering. All tokens will be fully unlocked upon the launch of the Minterest Protocol (scheduled for March 2022). They will be fully liquid to trade on exchanges, to stake on Minterest, and to provide liquidity on DEXs.
What are the funds used for?
The funds raised will be used for bootstrapping the Treasury of the Minterest DAO.
Were there other investment rounds before the community allocation event?
Yes, Minterest Labs raised $6.5 million from key investment partners like KR1, CMS, DFG, NGC and others. All related information is disclosed here: Minterest’s village of supporters. There is another pool for industry leading marketing partners and we will provide an update here soon.
Phase 2: Next Level LBP
Why LBP?

In LBP events, supporters are able to participate in a variant to the ‘dutch auction’ process. Dutch auctions are a mechanism where instead of participants getting an offering at a fixed value, the process allows anyone to bid their own chosen quantity and decide on the value they are willing to attribute. Unlike traditional auctions where bidders bid the value up, the value of the asset will fall over time until participants acquire tokens at the volumes they are seeking.
To read more about how an LBP works, please read this great guide by Balancer.
The Minterest LBP will be conducted on Balancer where people can directly buy MNT tokens using USDC (ERC-20); more details for the LBP specifics will be disclosed later. Participants will have access to a Minterest interface for a simple and transparent experience, hosting an overview and a leaderboard detailing live the USDC spent by various participants in the LBP. The leaderboard provides valuable transparent insight for those purchasers seeking, as part of their purchase of MNT tokens, to secure a specific level of Minterest NFTs; read more about Minterest NFTs here.
How do community allocation event participants get the guaranteed lowest price in LBP?
LBPs usually have a constant downward price pressure from a high initial price. According to a series of simulations run by Perpetual Protocol, the LBP price curve can have different shapes and forms depending on various parameters.
Some of the price charts from the simulations by Perpetual Protocol
However, the most common pattern is a V-shaped price curve where the initial price is high, followed by a sudden dip (the bottom point in the price curve), and then an upward continuation. To illustrate this better, let’s examine the LBP curves of some recent LBPs: Gro and Merit Circle.
$GRO LBP Price Curve
Gro is an example of a rather common price curve. The initial price for the LBP started high at $10.57, followed by a sudden fall towards $4.48, then some consolidation, and finally an upward continuation. The minimum value during the LBP was $4.48 and the end price was $9.28.
$MC Price Curve
There also exist some edge cases outside of what was described above. Also in those we have our community covered. An example to illustrate this, is the record-breaking Merit Circle LBP. Right after the LBP auction, the price of $MC touched $2.016, followed by a sudden fall towards $1.071. The closing price in the LBP was $3.20; a phenomenal ~3x from the dip during the LBP.
How is the “lowest average price” for community allocation event participants calculated?
Minterest community allocation event participants will get the lowest average price in the LBP. The price is a function of the average of the lowest LBP prices paid by total funds accumulated in the community allocation event.
Let’s assume that all participants accumulate 500,000 USD in the community allocation event. The value in the community allocation event is determined retroactively as the average value of the lowest 500,000 USD acquired through the LBP.
In more detail: Let’s assume that in the LBP there are 5,000,000 USD collected at the end of the event, where all LBP participants paid a different price. Sort all 5,000,000 USD provided by the token price paid from high to low, and take the average price of 500,000 USD from the bottom and average it. This is the average lowest price in the community allocation event.
How do I participate in the Next Level LBP token event?
For those who are interested to participate in the Next Level LBP event, we created a short guide here. Once you sign up, there will be a whitelisting process where you will receive all the instructions via email.
Next Level community allocation event:
The NFT lottery
The Minterest NFTs carry a significant boost in the protocol’s emissions rewards and allow early access to the private launch of the Minterest protocol (expected Q1 2022). Minterest NFTs offer up to 50% boost in a user’s MNT Emissions Rewards.
A total of 3000 NFTs will be issued across 12 different levels, with each represented by 1 of 100 unique images. Each level has more types of NFTs, with higher boosts in Emissions Rewards and periods of validity being applied to rarer NFTs.
Please read about Minterest’s NFT functionality here: NFT Lottery.
The NFT bonus rewards will be distributed among the participants that are at the top of the leaderboard based on the total amount of net USDC token acquisition amounts.
To enable community members with smaller wallets a chance at an NFT, the NFT lottery contest was launched for early signups to the #nextleveldefi event. To date, we have secured over 25K signups.
Want a chance to win an NFT? Sign up here: https://minterest.com/nextlevel
Sign up for the whitelisting in our Telegram Channel and feel free to ask any questions to the team directly in Discord!
What is Minterest?
Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.
24, November 2021
Welcome to the third issue of the Minterest weekly updates where we provide key insights to our community for our weekly progress. At Minterest, we are building a truly fair and community-centric DeFi Lending protocol, starting the era of #NextLevelDeFi.
1) Solvency Check Architecture
After two months of rigorous testing and investigation, the Minterest team has finalised the solvency check architecture. The logic behind this new architecture is designed to track the list of borrowers off-chain, and constantly monitor their collateral position on-chain. This architecture is a part of our automated liquidation flow.
To put this into perspective, the solvency check module analyzes all the collateral positions and identifies people whose loan positions are no longer covered with the required collateral. All the compiled data is then relayed to the automated liquidation flow.
2) Security Auditor
Another great addition to our team! We onboarded a designated security auditor this week to analyze every single line of code even before the official code audits from Trail of Bits and other security auditing agencies. Protocol security is one of our core priorities here at Minterest.
3) Community Telegram Bot
We have improved our community telegram bot to facilitate our community members. Our community bot now has more features such as tweaking texts and instructions, and several types of notifications to help community members stay informed about their NFT lottery tickets.
4) Development Tools
Earlier this week, we also started working on the development of tools to automate interactions with DEXes (Decentralized Exchanges). DEX pools sit at the core of our automated liquidation flow to facilitate asset swaps in case of a liquidation event. These tools will help us automate this interaction with the DEX pools in case of liquidations.
5) Improved UI for Community Events
The frontend team is now focusing on developing and improving the UI for our future community events. This includes a lot of features to facilitate interactions with our community members, such as sending transactions with ease, charts, feedback with emails, educational pages, and more.So welcome to Minterest, in your best interest
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
22, November 2021
Investors are a critical part of the Minterest journey; the process we went through to select them was intensive. They were chosen because of their track record, long-term view and value add. Each week we will be featuring a new investor to give you insights into why these investors are so valuable for the Minterest protocol.
This week, we are focusing on KR1.
KR1 plc is an investor in blockchain networks with a unique and compelling business model. The firm is listed on the Aquis Stock Exchange in London, allowing anyone to buy shares and gain exposure to early stage crypto startups through the expertise of KR1’s founding team. This democratisation of access and subsequent returns, aligns with the values of the crypto ecosystem, while offering the transparency and reporting structures of traditional listed businesses.
The company earns passive revenue through staking activities in “Proof-of-Stake” networks, providing it with the dry powder needed to take and hold long positions in disruptive digital assets. A $1 million investment in Polkadot’s earliest funding round represents KR1’s clearest example of this strategy, as well as its biggest investment. It also developed the company’s portfolio and expertise in the space, ultimately leading to an investment in Minterest.
George McDonaugh, Co-founder of KR1, said,
“Minterest is one of the first DeFi protocols that delivers on the technology’s promise of truly decentralised returns to its participants. The mechanism of returning liquidation rewards to all token holders dramatically improves on models set up to enrich a select group of founders and early supporters. This makes Minterest a perfect fit for our long term crypto investment thesis.“
“When Kyn first talked us through the model, we saw the potential for a flywheel effect that will reward late joiners as well as early supporters. This makes Minterest a protocol that can deliver on the long-term potential of DeFi, not just the hype of the first generation ventures. The fundamentals of the business model combined with the expertise of the team make this a project that we are excited to take part in.”
Kyn Chaturvedi, Chief Operating Officer of Minterest, said,
“Working with George and the team at KR1 gives us access to deep institutional knowledge in the blockchain space, and is an endorsement we greatly appreciate. The KR1 financial structure is an innovation in itself, and one that we feel supports the Minterest ethos of making rewards and instruments available to all participants.”
“This calibre of insight in the early stages will help to grow the flywheel and attract partisipants at the crucial early stages of the venture. We will look to leverage all of KR1’s deep strategic and technical understanding as we build this transformative lending protocol.”
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service billions in Total Value Locked (TVL) in DeFi lending projects, with the specific aim of putting user benefits at its core. It has been engineered to ensure that users have access to a fair and inclusive decentralised DeFi platform.
The Minterest protocol has the world’s first buyback mechanism, which automatically captures and passes on rewards to platform users via its unique on-chain liquidation process. This means that users participate in rewards generated by the protocol, in addition to earning industry leading borrowing/lending rates. This results in potentially the highest long-term yields in DeFi.
18, November 2021
Welcome to the second issue of the Minterest weekly updates where we provide key insights to our community for our weekly progress. At Minterest, we are building a truly fair and community-centric DeFi Lending protocol, starting the era of #NextLevelDeFi.
1) Buy Back Logic
After several months of thorough research and modelling, the Minterest development team has finalised the underlying logic for the Buy Back mechanism and has approved the release version of the Buy Back smart contracts, which will be sent for an internal security audit.
The Minterest application is now capable of calculating the shares of all the users in a pool who stake MNT tokens, and accurately calculating the current exchange rate of MNT to Minties (the virtual discounted money used in the Buyback mechanism).
2) Dynamic Economic Model
Last week, we developed a linear economic model for a token market, where the utilization rate on individual pools directly affects the interest rates.
This week, we worked on a second type of an economic model for a market that is more dynamic.
In this new dynamic economic model, a multiplier is applied to the rates as the utilisation ratio reaches a kink point. These dynamic rates prevent protocol insolvency during extreme volatility.
3) MetaMask Integration
The frontend team has finally integrated Metamask and developed the initial draft of the application that allows us to test our economic models and market behavior from users’ perspective.
The development team has been constantly wiring up the frontend to our backend, and the application already shows real on-chain data about markets (total borrowed, total lent etc).
4) Telegram Community Bot
Our Telegram community bot allows the community members to sign up for our future events. To better facilitate our community, we have added a /help function to our community bot, with more refined texts and a notification feature.
The bot will remind people to fill in their email if they haven’t done so already, or remind them to use the referral link if a user hasn’t referred anyone yet. The reminder has proven very effective – it has reduced the amount of users with no emails by 7% after its first launch.
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has its own on-chain liquidation and buyback mechanisms, the Minterest protocol automatically distributes the value it captures from interest rate, flash loan and liquidation fees to users. It does this via MNT tokens that it acquires on-market, ensuring your highest long-term yields.
12, November 2021
04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.
Just a week after launching Minterest’s community allocation event, the community grew to 20,000 people with over 20,000 subscriptions for the event – just extraordinary growth!
We are incredibly grateful for the support from everyone who has assisted in achieving this result, including Minterest investment partners, marketing partners and all of you – our community! The best part is: we are just getting started!
Community comes first
Building and growing Minterest’s community has always been a priority and in doing so building trust and inclusivity, with community sitting at the core of what Minterest does and is about.
When exploring ways people might access the protocol and interact with the protocol, it seemed many common options did not create the inclusion being sought, but rather promoted user ‘fomo’. To reflect Minterest’s ethos of fairer finance and inclusivity, we redefined what a conventional community allocation event looks like – welcome to the NEXT LEVEL.
This is an event where all sign ups are guaranteed an allocation! In addition, people get the opportunity to win a Minterest NFT in the NFT lottery, which provides its holder significant boosts in APY, and which can be used or traded to others for whom such a feature is highly valuable.
Such NFTs will grant the holder an APY boost with potentially very significant value-add depending on their supply of liquidity to the protocol. NFT holders will earn a higher yield without impacting the rewards of other participants.
Each whitelisted participant will receive a number of lottery tickets proportional to how early they sign up. Find more details on the NFT lottery here.
Sign up to get guaranteed allocation & APY boost lottery tickets.
Community weekly highlights
We have just hit the 20,000+ signups milestone on our community allocation event! The team behind Minterest are very active in the channel, ready to answer questions and provide regular updates.
Here are some of the highlights from last week’s activity:
Minterest is partnering with Moonbeam, and where the protocol will be launching on their EVM-compatible smart contracting parachain on Polkadot. Moonbeam will provide recognised world-class technical support to assist with the protocol’s migration, and Minterest will act as a magnet for attracting liquidity onto Moonbeam’s parachain. Read more about the Minterest-Moonbeam partnership here.
We conducted our first community AMA featuring Korean community CryptoNeedle (@Blocktoday) and CEO & Founder Josh Rogers. Josh explained how the token holders will benefit from Minterest’s unique autoliquidation functionality, compared to other lending platforms where liquidation fees are lost to external third parties.
Minterest was featured in the Altcoin Buzz News – ‘Minterest is set to go live on Moonbeam Network , providing the best of both Ethereum and Polkadot to the decentralized finance space’.
Minterest was featured in The Fintech Times – ‘In order for DeFi to remain relevant and ensure longevity, creating a fairer financial system for all, innovation must put the user at the core, says Minterest’.
CTO Denis Romanovsky discussed recent exploits in DeFi with community members, and how Minterest’s engineering culture is geared to not suffer similar events and prioritise protocol security.
CMO Alexander Funck clarified and discussed the workings of the NFT lottery, as well as the friend referral signup for the Community Allocation Event.
CTO Denis Romanovsky addressed the source of APY boost tokens for NFT holders, which is designed to give NFT holders a higher yield without impacting the rewards of other participants.
Join our Telegram Channel today and become a part of our growing family!
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
12, November 2021
Investors are fundamental to Minterest’s journey and the selection process undertaken by the team was intensive. Each investor was chosen because of their track record, long-term view and value-add to the team and protocol. We thought featuring them, and providing insights into why they are so important to Minterest, would be worthwhile, and possibly valuable, for other startups in the space.
This week, Bitscale Capital is in the spotlight.
Bitscale Capital is an investment firm based in Switzerland. The team specialises in blockchain, with a portfolio of more than 80 projects. Its investment focus is varied and includes cybersecurity, blockchain startups and NFT related projects. They also have considerable expertise in scalable infrastructure.
As well as offering crucial early-stage investment and guidance, Bitscale Capital has specific expertise in investor relations, helping its portfolio companies to connect with industry heavyweights and top-tier funds across the globe.
Zurab Kazhiloti, CEO and Founder of Bitscale Capital, said,
“We invested in Minterest because we believe it is a high-quality concept that is built to last. The next generation of decentralised tech is upon us, and we expect Minterest to be in the vanguard of this new wave. The team has the experience, vision and the technical foundation to create something special which is long-lasting.”
Kyn Chaturvedi, Chief Operating Officer of Minterest, said,
“We are excited to work with Bitscale Capital as we develop out the Minterest protocol. The team’s research-led methodology and deep expertise in key sectors really attracted us to them, and we’ve quickly developed the foundation of a strong, long term relationship.”
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
11, November 2021
04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.
Welcome to the first issue of the Minterest weekly updates where we provide key insights to our community for our weekly progress. At Minterest, we are building a truly fair and community-centric DeFi Lending protocol, starting the era of #NextLevelDeFi.

1) Economic model
This week, the Minterest development team has designed and developed a series of smart contracts for the implementation of a preliminary economic model for a token market. The smart contracts can process ERC20-equivalent tokens for Moonbeam and accurately track the interest rates for supply and borrow.
Users can now lend and withdraw assets with properly calculated income, as well as borrow and supply assets with properly calculated interest rates. The current economic model is linear, where the utilization rate on individual pools directly affects the interest rates.
2) Design
Our design team has worked tirelessly to draft the application UI for the MVP that covers a key set of features. Our front-end developers have already started the implementation of the application UI, and successfully developed the landing page with market information. The five basic operations are now available for the users.
3) DevOps
To streamline the development operations and sanity checks, our team at the DevOps department has built a pipeline with code analyzers and security checks to maintain the security and stability of our smart contracts code.
4) Community
To help our vibrant community, our team has also launched a Telegram bot that allows community members to sign up for our future events. A lot of things are in the progress for the upcoming community event, so stay tuned.

So welcome to Minterest, in your best interest

About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
09, November 2021
04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.
The news follows Minterest’s recent $6.5m raise to create a new, fairer DeFi structure that puts users first
Tallinn, Estonia – November 3rd, 2021 – Minterest, a value-capturing lending and borrowing protocol designed to make DeFi fairer for users, has announced that it will be deployed on Moonbeam, an Ethereum-compatible smart contract parachain on Polkadot.
Moonbeam will provide recognised world-class technical support to assist with the protocol’s migration, while, in turn, Minterest will act as a magnet for attracting liquidity onto Moonbeam’s parachain. In joining the Moonbeam ecosystem, Minterest is also committing to creating opportunities specific to the Moonbeam community, allowing them to engage with, and benefit from, the protocol.
Josh Rogers, CEO and Founder of Minterest said, “We have made a significant step forward in choosing to build on Moonbeam. After undertaking an extensive and strategic assessment of Minterest’s options, it became clear that Moonbeam was the perfect deployment destination, and by far the best fit for the next phase of the protocol’s development. Moonbeam’s developer-friendly approach and ability to provide a gateway to Polkadot and all of its native assets are just some of the reasons we chose Moonbeam.”
Created by industry leaders to service billions in total value locked (TVL), Minterest is the world’s first lending protocol that captures 100% of value from interest, flash loan and liquidation fees which then get passed on to users. Unique features include an automated on-chain liquidation process and a buy-back mechanism which automatically passes on surpluses to contributing platform users.
Moonbeam has made significant contributions towards the development of Polkadot’s EVM and boasts an impressive ecosystem, with over 70 projects committed to building on the platform.
Rogers said, “By launching on Moonbeam, we are able to offer our users a product that combines the best of both worlds. Since Moonbeam is built on Polkadot, we gain instant access to world class network security, low gas fees, and all the functionality that Polkadot brings. At the same time, Moonbeam’s compatibility also enables our users to seamlessly access the protocol via existing Web3.0 wallets.”
“As DeFi protocols mature, they are being measured with some of the same financial metrics used to measure traditional company performance,” said Derek Yoo, Founder of Moonbeam. Minterest’s approach to pass all protocol surpluses back to token holders is both unique and in keeping with the spirit of Web3. We are looking forward to supporting the Minterest team in growing their DeFi ecosystem on Moonbeam.”
“So welcome to Minterest, in your best interest”
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism which automatically captures and passes on rewards to platform users via its unique on-chain liquidation process. This means that users participate in rewards generated by the protocol, in addition to earning industry leading borrowing/lending rates. This results in potentially the highest long-term yields in DeFi.
03, November 2021
Minterest is now approaching the next level of its development – the community allocation event. If you haven’t heard about the Minterest protocol yet, you may find details here: minterest.com/blog.
We believe that users are the ones who give protocols their value, so we have designed the community offering to reflect our ethos of fairer finance and inclusivity, and to address the specific requests of our supporters.
Our community comes first
We listened to our community’s biggest request: By signing up for the whitelist you will receive a guaranteed allocation in the community allocation event!**
To maximize community value, we are excited to further present the Minterest “APY boost” NFT lottery! The pool of the lottery holds NFTs, which provide access to 7-figure APY boosts.*
All whitelisted participants automatically receive tickets for the lottery. The amount of lottery tickets awarded depends on how early a participant signs up to our community event. So, a day-one sign up will earn you 20 tickets. Sign up rewards will then be reduced by one each day until the end of the event. See the amount of days left on the countdown on our community allocation event page here or check in the table below.
Sign up now to maximize the amount of lottery tickets you can receive!
Lottery tickets per signup Signup date Lottery tickets per signup Signup date Lottery tickets per signup Signup date
20 03/11/2021 13 10/11/2021 6 17/11/2021
19 04/11/2021 12 11/11/2021 5 18/11/2021
18 05/11/2021 11 12/11/2021 4 19/11/2021
17 06/11/2021 10 13/11/2021 3 20/11/2021
16 07/11/2021 9 14/11/2021 2 22/11/2021
15 08/11/2021 8 15/11/2021 1 22/11/2021
14 09/11/2021 7 16/11/2021 0 23/11/2021
NFT value explained
The NFTs provide access to protocol functionality that can generate millions of dollars in APY boosts. There are a limited number of NFTs available, which is why Minterest is committed to ensuring full tradeability of the NFTs so participants can interchange their NFTs based on their needs.
Here’s one example: Over 72% of all TVL in Compound is held by only a few wallets, according to Dune Analytics. It is no surprise that the rare and valuable NFTs are especially attractive for large asset holders. The top tier NFT will enable any holder to earn up to 50% more APY* for a five-year period on unlimited TVL. For our largest professional users, this NFT unlocks protocol functionality that can result in millions of dollars of additional rewards. Further, the NFTs work as “keys” to exclusive protocol functionality, e.g. early access to the protocol beta launch.
It makes sense that the NFTs could generate tremendous value to anyone who holds them. And, we want to provide opportunities to the Minterest community to gain access to these benefits. The lottery will give our supporters a first chance of winning such NFTs!
Why Minterest has introduced the NFT functionality
Long-term liquidity providers are essential to the health of the Minterest protocol. The NFTs are designed directly to reward long-term supporters.
The purpose of NFTs is to detach value-added benefits from individual accounts and make them transferable among the community directly or through NFT marketplaces. Imagine exclusive credit card rewards detached from an individual and thereby transferable to others, and you get the basic idea. We believe this level of flexibility will encourage sustainable and healthy growth of the protocol.
Refer your friends and receive an extra lottery ticket each
At the end of the sign up process you will get an individual referral link. Every friend you refer that uses the link to sign-up, will receive one additional lottery ticket, and so will you. For a guaranteed allocation in the community allocation event, and to get the maximum amount of lottery tickets, sign up here today.
Anti bot disclaimer
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So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
03, November 2021
Investors are fundamental to Minterest’s journey and the selection process undertaken by the team was intensive. Each investor was chosen because of their track record, long-term view and value add to the team and protocol. We thought featuring them, providing insights into why they are so important to Minterest, would be worthwhile, and possibly valuable, for other startups in the space. This week we’re focusing on DFG.
Digital Finance Group (DFG) is a global investment firm whose core focus is empowering blockchain and Web 3.0 projects. Founded in 2015, the firm has more than $1 billion assets under management. Represented across global emerging technology and financial capitals, DFG has employees around the world. The company invests across seed, early stage, and later stage projects in the blockchain, payment, infrastructure, and wider digital asset space.
The group’s impressive portfolio includes equity stakes in LedgerX (recently sold to FTX), Bloq, Circle, Brave, and Big Time Studios, as well as investments in Polkadot, Ethereum and Solana. DFG is also the parent company of Matrix, the first fully licensed regulated cryptocurrency exchange under the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
As well as its broad investment outlook, DFG recently announced a $20 million fund dedicated to projects on the Polkadot blockchain. This brought Minterest to the group’s attention, leading them to become an important strategic investor.
James Wo, Founder and CEO of DFG, said,
“Minterest has engineered a major improvement in the current DeFi ecosystem by solving issues that exist in legacy DeFi protocols. Its unique token buy-back mechanism using the protocol’s own value means that Minterest passes on protocol rewards to users for their participation in its governance. It’s the first of its kind in DeFi, and a truly sustainable, long-term, model. It’s this kind of innovation that really attracts us as investors.”
Kyn Chaturvedi, Chief Operating Officer of Minterest, said,
“Bringing DFG onboard gives us crucial international expertise as we scale our project. The team has seen massive success at every stage of business across the world’s blockchain markets, and their expertise in Polkadot is also incredibly valuable.”
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically captures and passes on rewards to platform users via its unique on-chain liquidation process. This means that users participate in rewards generated by the protocol, in addition to earning industry leading borrowing/lending rates. This results in potentially the highest long-term yields in DeFi.
27, October 2021
A BLOG POST ON MINTEREST’S FUNDRAISING PROCESS AND STRATEGY PENNED BY FOUNDER AND CEO, JOSH ROGERS
Minterest has phenomenal investors behind it. In them, the protocol has a village of supporters, each a working member of Minterest’s tribe, who partner us in delivering the protocol. I’ve been asked by several people how we achieved such an outcome, so I thought it worthwhile to provide a detailed personal perspective.
I’ve been involved in startup fund raising for more than two decades, yet this was my first crypto project. It was something very different to what I knew and in unexpected ways it truly surprised me. I never thought I’d pen a blog remotely like this one about VCs.
An extensive fundraising process
The demand for Minterest was incredible. In the first 5 days we received soft commits for more than the total, and we could have likely wrapped up the raise there and then. Yet, we undertook a 3 month, extensive and intensive process involving nearly 150 separate pitch meetings. We did so deliberately to achieve the outcome we have now; a broad portfolio of stellar investors who are genuine partners, consistently accountable in their support of the team and the protocol.
Fundraising is often a very demanding process on start-up teams. It usually requires many hours of time from key personnel, who are then not able to focus on the business, so early on I partnered with two extraordinary advisors, Joeri van Geelen and Matthew Niemerg. Joeri has an impressive network within crypto, he is highly respected, genuinely liked across the sector and his business development social capital is world class. Matthew is a true blockchain techie, with a Ph.D. in mathematics and a deep comprehension of cross chain architecture. He is highly respected for his capability and is an extraordinarily intelligent man, one I colloquially describe as smarter than a tree full of owls.
Their commitment was unrelenting, Joeri pitched with me late into his night given he was then based in Singapore and Matthew, as he lives in Miami, was up at 4am for months doing the same. David Post, ex-Managing Director of IBM Blockchain Ventures and now Managing Director at Chainlink Labs, was also brilliant as was Simon Schwerin, a partner at leading blockchain thinktank – Iconomy. Kyn Chaturvedi, then CBDO of Tomochain, Vietnam’s largest blockchain project, also joined as an advisor and quickly became the team’s COO.
Our fundraising strategy
In designing any sort of fundraising strategy three fundamental questions need to be answered: why, how much and from whom? Defining why you want the money usually determines how much you need but it’s “from whom” that often influences how successfully the project performs. Great private investors bring enormous value far beyond money. They bring new perspectives, skills, knowledge, networks and act as eyes and ears of the project, keeping it strategically abreast of what is a relentlessly changing environment in crypto.
As a general principle, I prefer not to raise money from the public when the project is in its uncertain early stages. It often places pressure on teams who prioritise seemingly important metrics which cater to the demands of public investors. This pressure may seem beneficial in keeping the team focused but for great people who flourish in high-accountability and delivery-focused work environments, such pressure is unnecessary and counterproductive. It frequently leads to a culture of short-term decision making which could have long-term negative consequences for a protocol like Minterest. Almost always, the team is better served early on by professional investors who, if necessary, can sustain a longer-term view.
I do admit to a competitive advantage in startups, although only one, and which my daughters frequently remind me of; I’m older than everyone else! I’ve been involved in startup fundraising since 1996 and one thing I have learned, is that some investors will promise the world to get an allocation but may not necessarily deliver afterwards, which we absolutely did not want for Minterest.
Fulfilling the ‘village of supporters’ approach meant undertaking an extensive and intensive fundraising process, pitching to as many investors as possible, and then distinguishing those who would best empower the team and the protocol. At the outset we decided our focus would not be to simply secure money and nor was a VC brand terribly important. We wanted a portfolio of investors who would add real, long-term value. That meant crossing off some of the very largest VCs, often found on the US West Coast. The sheer scale of their portfolios meant their minimum investment would be so large that it would dominate the allocations in the private offering, and thus undermine the broad portfolio approach.
What we looked for
1. TRACK RECORD
  Investors with stellar track records in being powerful long-term supporters and who could be verified by teams they had already invested in.
2. LONG TERM VIEW
  Investors who wouldn’t just flip MNT, but who were true believers in Minterest’s long term future, and so would be part of the journey with the protocol and its user community.
3. VALUE ADD
  Investors who had either their own communities we could engage with, or deep commercial experience in crypto with industry networks and/or who would potentially be long-term liquidity providers to the protocol.
Three substantial VCs offered to lead the round; having a large VC leading the raise can be advantageous in many ways. It provides additional credibility for the project and confidence to other investors that the round will close successfully. It also usually speeds up the process, as their presence provides security to others, who will often short circuit their own due diligence, trusting the lead to undertake this professionally on their behalf. The lead investor is also very influential in determining who other investors are, and for us, that was a potential issue given we had our own highly defined investor profile and a firm view on the ideal number of investors we were seeking.
When VCs lead, they usually require very significant allocations; half the raise is not uncommon, and often with significant discounts to the raise price. While many of the aspects of a large VC lead were appealing, it ran counter to our fair and equal ‘village of supporters’ strategy. We had a team highly experienced in fundraising and the internal confidence to run a disciplined program, so we opted to run the process ourselves and thus, turned lead offers down.
I have deep respect for many of the VCs we chose not to include in the round. Some have global, well-respected reputations, but their structure, investment mandates or team priorities did not necessarily align with what we prioritised for Minterest, and this determined our final selection.
A fairer and more inclusive financial system
Minterest ended up with commitments exceeding US$20M, we definitely had the opportunity to raise more than was allocated, and building a lending protocol properly from scratch while keeping an eye on its cross-chain future does require significant time and money. However, Minterest was built to create a fairer and more inclusive financial system and raising money solely from professional investors felt inconsistent with such principles, so we structured the fund raising to take less early on to enable Minterest to include the public later.
Our village of investor supporters
Along the way I met a truly diverse group of people across the planet and discovered that Crypto VCs are nothing like traditional start-up VCs, at least not like many I have encountered. As a rule, crypto VCs are polite, respectful, punctual, generous with their time, happy to introduce other investors and willing to provide high value advice on everything from corporate structuring to treasury operations. They are attentive, passionate, interested, ask intelligent questions, excited about how the project fits into the future of blockchain and actively explore ways they can contribute to its success. Above all, they expect, like all Minterest’s investors, to work hard for their allocation. As I write this, one of them just messaged me saying “Make them work. Don’t give away the goods for a hamburger date and a movie.”
I’ve been doing this for decades and thought I’d seen it all, but it turns out I haven’t. I am genuinely humbled by who Minterest’s tribe of investor supporters are, and for their trust in our team. Who they are, is probably best illustrated by my answer when I was recently asked the question, “Who are your professional mentors?” While I have people that I reach out to for perspective, the real answer, and one which amazed me when I spontaneously said it, is “our investors”.
We have open and forthright conversations about our challenges, we hold nothing back, and the team and I make relentless requests for support, yet no-one flinches. Their support is rock solid and delivered in a myriad of ways, and they consistently deliver well-considered and strategically super smart insights. As CEO, having a network of support like this is spectacularly powerful.
The source of my inspiration is not just what I do, but also, who I do it with. It’s not just the technology I’m passionate about, it’s also the people creating the technology, and to my absolute astonishment, it’s also very much about the people funding it. I’ve been excited about blockchain for years and now due to my recent experiences, I’m proud to say my commitment to crypto mirrors what I see in so many others – it’s locked-in.
So welcome to Minterest, in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewardson top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
11, October 2021
Minterest is a ground-breaking lending protocol built by industry leaders to service billions in TVL, and to challenge existing DeFi incumbents. The protocol captures significantly more surpluses on-chain than any other DeFi protocol which is an industry first. It passes on these surpluses to its users using a unique protocol-managed buyback process. Lending protocols generate significant value, amounting to hundreds of millions in surpluses each year, but traditionally this has not been passed on to users – until now.
As the next step, the focus is now on building the community and providing private access to the protocol to early participants and supporters.
Backed by billions
The project has secured participation from some of the most experienced players in crypto, each renowned for their experience, extensive communities and/or their ability to tactically bring real value to DeFi projects like Minterest. With combined portfolios amounting to tens of billions, Minterest’s financial supporters represent exceptional leaders in the digital landscape.
Say hello to KR1
KR1 PLC is listed on London’s AQSE Exchange and is a leading European digital asset investment company focused on decentralised and open-source blockchain networks. The company has many foundational projects including Moonbeam, Acala, HydraDX, Astar and Kusama
“It’s important we are always pushing the envelope and improving in order for DeFi to move truly mainstream. Minterest has engineered a great long-term model because everyone gets their fair share of the rewards the protocol generates.”
Say hello to Digital Strategies
Digital Strategies invests in top crypto projects while providing high-touch tactical support including engineering Dapps & tools for their portfolio companies. This includes solutions such as CasperSign (the first Dapp on Casper) & Keeper (a liquidation prevention tool). Their portfolio includes Polymath, Casper Labs, 0x, Hedera Hashgraph and Kylin.
“We love that Minterest has taken the original DeFi ecosystem and made it fairer and more inclusive for its users. In doing so, they ensure that the true beneficiaries are the users who share in all surpluses generated by the protocol. These unique features make it an appealing platform for everyone in the sector. We are excited to be on the journey with the team and supporting the protocol’s evolution and growth.”
Say hello to Digital Finance Group
Digital Finance Group is a global blockchain and digital asset investment firm. Founded in 2015, it manages investments in excess of 1bn AUM, investing in numerous leading blockchain companies including LedgerX, Bloq Circle, and Ripio, among others.
“Minterest has engineered a major improvement in the current DeFi ecosystem by solving issues that exist in legacy DeFi protocols. It’s unique token buy-back mechanism using the protocol’s own surpluses means Minterest passes on protocol rewards to users for their participation in its governance. It’s the first of its kind in DeFi, and a truly sustainable, long-term, model. It’s this kind of innovation that really attracts us as investors.”
Say hello to CMS
CMS is a principal investment firm focused on investments in the crypto-asset ecosystem, seeking to deploy capital in liquid and illiquid crypto tokens, as well as equity stakes in companies such as Solana, Oxygen, Messari and SynFutures.
“Minterest has significantly upped the stakes in the DeFi space. The protocol has solved a pain point that has been in play in the ecosystem from its inception. It has taken the existing DeFi model and recalibrated it to fulfill its original mission – a fairer financial system for all the users. We are thrilled to be on board with this exciting project”.

Learn more about why we have the edge over DeFi platforms here
As a next step, the team behind Minterest is now coming out of stealth mode and turning their attention to those who give the protocol value – its community. Lots of updates are coming soon, with the aim of ensuring users get a fair chance to participate in the protocol’s growth.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically captures and passes on rewards to platform users via its unique on-chain liquidation process. This means that users participate in rewards generated by the protocol, in addition to earning industry leading borrowing/lending rates. This results in potentially the highest long-term yields in DeFi.
11, October 2021
Minterest’s unique design means long-term yields are optimised thanks to a new, fairer structure
Tallinn, Estonia – 16 September 2021 – An experienced team of cryptographers and blockchain industry luminaries have today unveiled Minterest, a value-capturing lending and borrowing protocol designed to make DeFi fairer for users. The reveal of the new protocol follows a recent private fundraising round that saw the team behind the project raise $6.5 million USD from top-tier investors, including KR1, DFG, CMS, DigiStrats, FOMOcraft, Bitscale Capital, PNYX Ventures, CMT Digital and Faculty Capital.
The Minterest protocol allows users to access decentralised token money markets, combined with a uniquely fair incentive structure that will facilitate and promote widespread adoption of DeFi. What sets it apart from DeFi incumbents is that it’s engineered from the ground up to capture the value it generates. By utilising its own buyback mechanism, the protocol passes on 100% of surpluses generated to its community of active participants. A key component of this architecture is its unique liquidation mechanism which is entirely managed by the protocol rather than being delegated to external parties.
Lending protocols generate significant value, but traditionally such value has not been passed on to users. Existing lending protocols reward users in two key ways. Firstly, through various forms of token issuance via liquidity mining to incentivise use. Secondly, through the liquidation process which is available only to a very small and sophisticated group of users who take out the positions of under-collateralised borrowers at a market discount.
In an industry first approach, the Minterest protocol undertakes liquidation processes automatically, without the need for external liquidators, and so captures all fees , including interest, flash loan and liquidation fees On other lending protocols this value is usually extracted from the network for the benefit of a privileged few.
Uniquely, Minterest uses its operating surplus to auto-acquire the protocol’s native MNT token on-market and then passes it on to its users. This means the protocol user’s rewards from surpluses generated by the utility of the protocol combine to potentially give the highest long-term yields in DeFi.
Josh Rogers, Founder and CEO of Minterest said: “The success of the blockchain industry continues to take everyone by surprise. Increasingly, however, we are seeing players lose sight of the original motivation and what caused such success in decentralised digital economies. The Minterest protocol recaptures crypto’s vision of creating a fairer, more egalitarian financial system with a new DeFi model that generates value for the entire user ecosystem, instead of extracting it only for the few, and in doing so, it intentionally challenges existing sector leaders.
“DeFi’s current total TVL of nearly 170 billion USD accounts for approximately as little as around 5% of the world’s crypto assets. With significant and sustained crypto growth and the vast majority of crypto value yet to earn returns, DeFi is very much in its infancy and represents a massive opportunity for crypto investors. Today’s DeFi lending and borrowing protocols have inflationary token models, don’t capture or pass on the value the protocol generates, often lack cross-chain capabilities, and offer an overly complex user experience. Minterest changes that. Through their interactions, users create the value on the platform therefore making their participation equitable and rewarding. Without its community, any protocol would be obsolete, and our model places our community at the centre of the value-creation cycle.”
Minterest Protocol’s design operates on the principle of flywheel tokenomics, building a self-reinforcing cycle of value into the platform. The more value created and captured within the protocol, the more value is passed on to users, improving total Annual Percentage Yield (APY). This makes it more attractive to become a liquidity provider to Minterest, thereby attracting new users and over time, exponentially increasing the overall value of the protocol.
The Minterest protocol will be audited by highly regarded auditors in the blockchain space prior to its early access phase, underpinning network security and giving users the confidence required to fully participate.
James Wo, Founder and CEO of investor DFG (Digital Finance Group) said: “Minterest has engineered a major improvement in the current DeFi ecosystem by solving issues that exist in legacy DeFi protocols. Its unique token buy-back mechanism using the protocol’s own surpluses means Minterest passes on protocol rewards to users for their participation in its governance. It’s the first of its kind in DeFi, and a truly sustainable, long-term, model. It’s this kind of innovation that really attracts us as investors.”
Eric Weiss, Partner at Digital Strategies highlighted: “We love that Minterest has taken the original DeFi ecosystem and made it fairer and more inclusive for its users. In doing so, they ensure that the true beneficiaries are the users who share in all surpluses generated by the protocol. These unique features make it an appealing platform for everyone in the sector. We are excited to be on the journey with the team and supporting the protocol’s evolution and growth.”
Minterest was founded by Josh Rogers, a serial technology entrepreneur with over 25 years’ experience as a founder or as part of founding start-up teams for projects including COMindico, the world’s first point-to-point IP telco; Oriel Communications, the world’s first micro-billing content engine; Mitchell Morgan, an advisory and fintech conglomerate encompassing a digital agency for online digital platforms; Freelancer, the world’s largest freelancing marketplace; and HeyYou, Australia’s largest hospitality app. The Minterest team looks like the who’s who of industry luminaries, with leadership backgrounds from Cardano, Prysm Group, Chainlink and IBM as well as members with elite academic and technology credentials.
Josh Rogers, Founder of Minterest, is available for interview

Media Enquiries
Eleanor McGovern
Consultant, Wachsman
E: minterest@wachsman.com
T: +353 87 933 7769
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on the protocol surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation rewards with users.
20, September 2021
Minterest is a ground-breaking lending protocol built by industry leaders to service billions in TVL, and to challenge existing DeFi incumbents. The protocol captures significantly more surpluses on-chain than any other DeFi protocol, which is an industry first. It passes on these rewards to its users using a unique protocol-managed buyback process. Lending protocols generate significant value, amounting to hundreds of millions in surpluses each year, but traditionally this has not been passed on to users – until now.
Doing things differently
To understand how Minterest does things differently, it’s worth looking at how existing protocols operate in the current DeFi ecosystem. Lending protocols reward users in two key ways. Firstly, through various forms of token issuance which rewards liquidity mining to incentivise protocol use. Secondly, a very small, sophisticated group of users known as liquidators get rewards when they take out the positions of under collateralised borrowers at discounts to market.
Making rewards equitable
In addition to rewards from liquidation fees, protocols generate substantial value in the form of flash loans and interest rate differentials which is the difference between what a lender receives and a borrower pays. A significant amount of this value is generally ‘bled’ off the protocol in various guises, and almost always, solely for the benefit of the protocol’s developers or their shareholders. This means the ecosystem of users who create the protocol’s value don’t directly benefit from such value creation. It is for this reason that the Minterest protocol aims to turn the entire DeFi lending model on its head.
A protocol’s value is generated by the users
Minterest recognises that the value of any protocol is created by the activity of its users and that a platform without users is worthless. The extraordinary market caps of existing DeFi platforms are directly correlated to their significant ecosystems of users, and the value created by their associated TVL. Minterest’s protocol’s rewards have been engineered for the benefit of potentially all users and not just a select few
World ‘s first on-chain treasury
At Minterest’s core are world’s first on-chain treasury functions in which the protocol undertakes processes normally reserved for external third parties. This means Minterest executes liquidation processes automatically, without the need for external liquidators, and by doing so, captures fee income normally lost from the protocol, while additionally capturing interest income and flash loan fee income.
Passing on the rewards to users
Minterest uses this combined surplus to auto-acquire the protocol’s native MNT token on-market and then passes it onto the protocol’s users, particularly rewarding those who supply their liquidity and stake MNT tokens in the protocol’s governance processes over time. There is no time lock, so users may withdraw their assets whenever they wish, but those who provide their liquidity and MNT tokens over time, will receive an ever-increasing loyalty reward i.e., their percentage of the protocol’s rewards increases month to month.
The highest long-term yields in the industry
So why does that matter? It means Minterest delivers the highest long-term yields in DeFi, and the protocol’s design gets real about why DeFi matters– providing equitable and fair finance for all. We are proud we are supporting the crypto community to share in a greater source of value, and that Minterest is the world’s first DeFi protocol to operate such a model. The protocol is also backed by a team of incredible, highly talented crypto investors whose impressive CVs reflect their credentials, know-how and values.So welcome to Minterest, it’s in your best interest
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses with users.
10, September 2021
When you explore DeFi lending, there’s an enormous degree of opacity when it comes to liquidations. Lenders and borrowers are not given enough detailed information to truly understand their risk profile. At best, users are expected to judge what can be very significant and sometimes complex lending portfolios, with a simplistic traffic light risk analysis system. They are expected to use green, orange and red markers to assess their risk profile, without actually truly understanding what the colour codes mean.
The tension between solvency and service
Even a layperson would be able to see that this is not operating in people’s best interests. If you view DeFi lenders through a critical lens, it’s easy to conclude that the major beneficiaries are not the users but a select group who are benefitting from opportunistic liquidation practices.
So why the lack of information? Incumbent DeFi protocols have significant tension between properly serving their users and ensuring protocol solvency. Continued solvency means always having enough liquidators circling the protocol to undertake liquidation events, especially during periods of high price volatility. That means, not just making sure liquidation fees are good enough for liquidators but also ensuring liquidation events consistently occur to ensure there will be a steady flow.
The inclusion of external liquidators surfaces a fundamental conflict; DeFi protocols can’t authentically and committedly protect their users from liquidations because doing this too well, may result in not enough liquidators being available with their liquidity in periods of high price volatility. Not enough liquidators and liquidity being available during such circumstances threatens the protocol’s solvency. Instead, such protocols provide just enough data and functionality to ensure they look like they’re protecting users from liquidations but not enough to really do the job properly. The conflicting nature of such architectural design means its liquidation functions are in themselves predatory and also means that users will likely more often have their portfolios liquidated.
How Minterest eliminates conflict of interest
Minterest eliminates the conflict of interest because there are no external liquidators lurking in the shadows eager to profit from liquidation of user portfolios. The Minterest protocol manages liquidation functions automatically.
The key benefit beyond the protocol capturing all liquidation fee value, is that Minterest doesn’t need a community of liquidators constantly circling it, acting somewhat like DeFi killer whales seeking out weakened seals. It means Minterest can instead authentically serve its users and truly look after their best interests without compromising the protocol’s solvency.
The Dashboard
In an industry first, Minterest’s UI includes a full dashboard for each user, providing extensive liquidation risk data and analysis based on their current portfolio and past market history. It even maps out people’s current collateral borrowing positions against previous price volatility, giving real clarity to what their potential future risk positions may be.
Further, as a user proceeds to add more lending or borrowing to their portfolio, the Minterest interface provides a real-time analysis of the risk impact that their planned action will have on their portfolio. This allows users to analyse their plans and make informed decisions about their portfolio risk before they enter new positions. The Minterest protocol is designed and built to serve the interests of its users, with the intention to help them be as successful as possible in their DeFi investments.
Providing Insights into governance rewards systems
Additionally, the dashboard gives users detailed insights into the protocol’s governance rewards system. The protocol passes on 100% of its surpluses in return for users participating in its governance. It does this by using the value it captures from the combination of interest rate, flash loan fees and liquidation surpluses to acquire MNT on-market. The protocol even increases these rewards month on month, rewarding loyalty and incentivising user liquidity provision over the long term, with the dashboard providing both historical and predictive data to further underpin people’s confidence in their decision making processes.
All this adds up to one incredibly valuable proposition, looking after people by giving them greater certainty that the Minterest protocol truly provides them the highest long-term yields in the most secure, sustainable and transparent way possible.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses with users.
10, September 2021
Minterest is not just another lending protocol. What sets it apart from DeFi incumbents is that it’s engineered from the ground up to capture the value it generates, and then via its own buy back mechanism, enable users to participate in 100% of this value. A key component to this architecture is its unique liquidation process which is entirely managed by the protocol rather than engaging external parties who manage these processes.
About liquidators
In the existing architecture of DeFi incumbents, liquidations are undertaken by third parties who operate externally to the protocol in a somewhat predatory fashion. Liquidators are sophisticated users with deep pockets and tend to be professional DeFi investors. Many of them are Venture Capital firms, and while relatively small in number, they have to date, played a significant role in the DeFi universe.
How liquidators operate
Simply put, liquidators wait for protocol borrowers to become under-collateralised. When this occurs, the loan is repaid by the liquidator in exchange for the borrower’s collateral. To incentivize the liquidators to do this, an additional fee is extracted from the borrower through their loan’s conversion being done at substantial discounts to market rates and it is this ‘discount’ which the liquidator earns to incentivize them to participate. The total liquidation fees earned across DeFi are staggering, and this value is captured exclusively by a small number of sophisticated, wealthy users without the general community being beneficiaries and yet, it is the users who create the majority of the protocol’s value.
Leading with innovation
What Minterest does is completely different. To date, no one has figured out how to create an on-chain solvency check and liquidation process that passes the value from the liquidation event back to the protocol’s users. This is a key point of departure for Minterest – where other protocols have this value extracted from the protocol, the Minterest protocol passes the value onto its users. The liquidation function has been built into the protocol, it manages solvency, undertakes liquidation events and rebalances the protocol liquidation pools; constantly autonomously and consistently.
Users participate in 100% of the protocol’s rewards
Since there are no third-party liquidators involved, the protocol is the sole beneficiary of liquidation fees generated from such processes. It then distributes this captured value, in combination with interest rate and flash loan fees, to the protocol’s users. This means that Minterest users participate in 100% of the value the protocol generates, and this results in the protocol delivering superior long term APY/APRs for users, outcompeting all other DeFi lending platforms in
the sector.
A fairer finance system
So, when it comes to liquidations, how much value are we talking about? Firstly, transparent liquidation data is never communicated by liquidators. The extent of the returns generated requires significant research and a sophisticated ability to scrape and interpret blockchain data, which is expertise that the team behind Minterest certainly has. Competitors publicly state that their protocols earn up to $3M a week in liquidations, and some liquidators to date have earned in excess of $50M.
What’s indisputable is that total annualised fees in DeFi are currently measured in the hundreds of millions. If a protocol’s general community were able to share in this value, ordinary users would have realised significant benefits as opposed to only a small pool of wealthy liquidators. Eliminating this practise is what the Minterest protocol is about, creating a fair and equitable system for all its community.
Transparency from day one
A fair finance system doesn’t need opacity, high ticket offices or impenetrable data, It starts and ends with transparency. This is why Minterest will share all the protocol’s data from day one, since it’s the only way to build and maintain trust, not only in our community but DeFi as a whole.
Transforming financial services across the spectrum
The promise of DeFi will quite possibly transform financial services across the spectrum, and this will benefit everybody. As the iconic documentary “Banking on Bitcoin” stated, “there is an ideological battle underway between fringe utopists and mainstream capitalism”. In DeFi fringe utopists have come and gone and mainstream capitalism has most certainly had a go at the crypto movement. Minterest is designed to do and be something different, DeFi’s Goldilocks of sorts, to sit sustainably in between legacy and innovation.
About Minterest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses with users.
10, September 2021

Tech Insights

Minterest Continues to #BUIDL
At Minterest we never stop building. Here we are sharing latest product releases
- 31, January 2023
  Automated liquidations
  Updated the logic of receiving oracle prices and filtering out suspicious results
- 26, January 2023
  Automated liquidations
  Made some more progress, got borrower tracking running reliably
- 24, January 2023
  UI Improvements
  Updated the design of the Connect Wallet modal dialog for connecting the wallet with the Minterest application across all the devices, including Desktop, Tablet, and Mobile.
- 19, January 2023
  Safari & Mozilla UI Fixes
  Optimized rendering for on-site charts in Safari and Mozilla Firefox browsers. Streamlined UI experience related to the Total Returns and Total Net APY charts.
- 17, January 2023
  Minterest Widget Modifications
  Revamped the vesting widget with new designs. The new layout explicitly displays how updated tokenomics applies to all vestings.
- 12, January 2023
  The MNT Rewards Panel Design Revamp
  Updated the following modal windows: Enable Collateral, MNT Staking and MNT Withdraw. Optimized the modals for Desktop, Tablet, and Mobile access.
- 10, January 2023
  Interface Logic Improvements
  Specified internal and external interface classes to ensure that our contracts meet current industry standards and provide the necessary security for all parties.
- 20, December 2022
  Total Net APY Chart Re-Work
  Added some improvements to the Total Net APY chart data with newer optimisations.
- 16, December 2022
  Fixed Metamask bug In Firefox Browser
  Fixed a bug with connecting Metamask from the Firefox browser. An error message was shown before when the user tried to connect their wallet via metamask in Firefox.
- 13, December 2022
  Update Main Navigation
  We have added a new navigation UI on the website that makes it easy to access all the Minterest-specific product offerings and information.
- 08, December 2022
  Fixed Loading Issue On Safari
  Asset logo images used to load extremely slowly on the Safari browser. This issue has been fixed by re-working the frontend code and design assets.
- 06, December 2022
  Liquidations Tracker v2.0
  We are constantly improving and adding new features to our automated liquidations mechanism, this time with the liquidations tracker v2.0. More details will be shared in future tech insights.
- 02, December 2022
  Indexer API Performance Monitoring
  Added the performance monitoring to some of our internal services for Indexer API. The system triggers an alarm in abnormal cases.
- 30, November 2022
  Security Improvements
  We have made some more security improvements to the new isolated production infrastructure by moving production hosted zone into the corresponding environment.
- 25, November 2022
  Delay Emission & BDR Boosting
  The current logic works in such a way that during the delay period, the boosts from the NFT or BDR are divided into a delay and a normal part.
  At the moment of transition from delay period to claimable period – we use the final MNT index of the market in order to separate the delay part for the period, but delayEndIndex is taken from the market storage, i.e. no boosts will affect it, and as a result, the delay part is calculated only for diff = delayEndIndex – lastMntUserIndex, and the boost is calculated without any correction factors.
- 22, November 2022
  Set Up Isolated Infrastructure For Production Environment
  We are moving our services to the private subnet in order to follow security guidelines. ECS and Lambda services will be able to reach the database from the private subnet via the private endpoint (restricted IP addresses).
- 17, November 2022
  Update Production Deployment Scripts
  We have fixed the deploy scripts, deploy configs, and deploy checks according to current Solidity Architecture. We have also enabled CI pipelines for deployment checks.
- 15, November 2022
  CD process for updating ECS service
  We have set up the CI/CD for production off-chain services. The new CD pipeline will update the containers with each commit along with a Slack notification.
- 10, November 2022
  Vesting Schedule
  We have added the relative time instead of absolute time for the vesting schedule with a condition that vesting schedule has not been started in the past.
- 08, November 2022
  API Changes
  We have added some backend API changes as it was necessary for the new contract architecture. The changes will soon be reflected in the new documentation.
- 21, October 2022
  Prepare MNT contract for AML
  We are adding AML integration to the MNT contract using a dedicated API that will allow the AML contract to define whether or not the user is blocked specifically for MNT operations such as transfers.
- 20, October 2022
  Sign “Approve + Supply” in one Transaction
  Currently, the Approve and Supply needs two separate transactions. We plan to do both of these in one single transaction using a Multicall feature that uses signed data within the Supply transaction to approve the allowance.
- 19, October 2022
  Allow closing the Connect Wallet modal
  Customers can now close the Connect Wallet modal if they opened with a direct link. For logged in customers, the app page is loaded and the Connect Wallet modal opens automatically.
- 27, September 2022
  Liquidation transaction costs
  We have added a dedicated transaction cost calculation mechanism for liquidation transactions. There are three different transaction costs involved, i.e., the weight of the liquidation transaction + exchange transaction + protocolInterest replenishment transaction. The new mechanism will involve the subsequent adjustment of the algorithm to make it more efficient.
- 12, September 2022
  Create pagination on transaction history
  We have added infinite scrolling with a scroll bar in the table that displays all the transaction history of the user in case the data doesn’t fit on a single page. Instead of moving across several pages, users can see everything in one place.
- 08, September 2022
  Refinement of the Net APY formula
  We are refining the Net APY formula in the protocol calculations to include net annual rate across all the markets and added a filter that displays the correct value on the front-end UI.
- 05, September 2022
  Crypto denominated positions
  In addition to USD denominated positions, users can now see their positions in any of their designated crypto assets, which include BTC, ETH, or any supported asset in users’ portfolio.
- 01, September 2022
  Dynamic time selector
  We have added a dynamic time selector for three charts: Market Historical Yield, Total Returns, and Total Net APY. Users can switch between yearly, monthly, and daily charts, based on the availability of data.
- 29, August 2022
  Integrations
  To make Minterest protocol easier to interact with and used by other devs and tools, we build APIs with comprehensive documentation.
- 25, August 2022
  Improve indexer API logging
  We are improving our indexer API logging to allow us to have all the useful information upon calling different endpoints. The new indexer-API service will print information about all the requests.
- 22, August 2022
  Fixing IPFS errors on NFT indexer
  We have added a failsafe mechanism in our indexer that pulls NFT data from IPFS to avoid getting errors that occur occasionally during the parsing of NFT data.
- 18, August 2022
  MNT price on mainnet
  We are adding admin modifiers to the Chainlink oracle feed contract that allows us to implement a fallback oracle provider to get MNT price on the mainnet.
- 16, August 2022
  Chart enhancements
  We have added a new feature into our charts where Y-axis will display negative values and an UI enhancement where larger values do not go beyond the chart labels to make them better readable.
- 11, August 2022
  Responsive UI for Markets Overview page
  Our markets overview page is now responsive in accordance with the design changes that is more seamless and intuitive for customers on mobile and tablet.
- 08, August 2022
  Setting borrowing limits for markets
  We have added a new borrowing model that adds a hard cap on the borrowing limit. When a customer enters a larger amount, he is restricted to the MAX borrowing limit set by the protocol on a pool-by-pool basis.
- 04, August 2022
  Portfolio UX improvements
  We have added a new feature under the portfolio dashboard where we will display smaller amounts (less than $1,000,000) up to 2 decimal places and completely omit the decimal places if the amount is larger than $1,000,000.
- 01, August 2022
  Improved deployment for production environment
  We are improving the flow for our production environment by setting up CI/CD pipelines to automate the stages of the production environment that will give us better control from integration and testing phases to delivery and deployment.
- 28, July 2022
  New rules for assets sorting
  We have added three new sorting rules where customers can see larger markets on top. Customers can sort by Total Lent, Total Borrowed, and under their portfolio dashboard, they can sort by LENT so they can see bigger markets first.
- 25, July 2022
  Disabling borrow for selected markets
  The Minterest admin role can now disable borrowing functionality for selected markets to allow for liquidity build up within those markets before borrowing action is performed.
- 21, July 2022
  WalletConnect integration
  WalletConnect has been integrated as part of our wallet integration roadmap. Undertaking wallet-triggered blockchain transactions with WalletConnect to verify the flow.
- 18, July 2022
  Rewriting the swap router algorithm
  The swap router algorithm has been re-written to improve swapping of exchange pairs more efficient. Undertaking current unit testing.
- 11, July 2022
  Enabling withdrawals of different MNT balances
  A new feature has been added that allows the withdrawal of all the possible MNT sources, which include available MNT wallet tokens, staked tokens, and vested tokens
- 04, July 2022
  UX improvements on the Desktop version of the app
  Major UX improvements have been made in the desktop version of the app for a more snappy and intuitive experience.
- 01, July 2022
  Ledger Wallet Integration
  Ledger Wallet has been integrated as part of our wallet integration roadmap. More wallet integrations to be announced soon.

Date of Activity	Level Awarded	TW handle
13-Dec-21	7	@rkeinwold
13-Dec-21	7	@Rv13A
13-Dec-21	7	@squeekie1
14-Dec-21	8	@Donutz_p
14-Dec-21	8	@BeeCeehh
14-Dec-21	8	@Alex5_56
14-Dec-21	8	@AomoiThetan
15-Dec-21	9	@IceFrosTv2
15-Dec-21	9	@__Django__
15-Dec-21	9	@Shukazavr
15-Dec-21	9	@autonomyyy
16-Dec-21	10	@Kuljira29557299
16-Dec-21	10	@LucarioRauld
16-Dec-21	10	@coin_zefa
16-Dec-21	10	@you425you
17-Dec-21	10	@sora0167
17-Dec-21	10	@wallaceplayfrog
17-Dec-21	10	@C120M1
17-Dec-21	10	@Baotruong210794
17-Dec-21	11	@Vlad50372221
10-Jan-22	11	@andyfairweather
10-Jan-22	5	@Will64174363
10-Jan-22	10	@Ton_Gans
21-Jan-22	12	@SamsunG_3971
21-Jan-22	11	@winner_winner_8
21-Jan-22	10	@blakk00
26-Jan-22	12	@rynardt_olivier
26-Jan-22	11	@My_Father_is_ Apst_johnson _suleman
26-Jan-22	10	@xiaohuli112
21-Jan-22	11	@BuyNoEvil
21-Jan-22	12	@Maxverleye8
21-Jan-22	11	@TerraMarllo
21-Jan-22	12	@andyfairweather
21-Jan-22	11	@Celen_Dhyll
11-Jan-22	12	@apestudies
11-Jan-22	11	@siranop4
11-Jan-22	12	@33_boogie
28-Jan-22	12	@qqqqqzd
28-Jan-22	12	@pansgraphy
28-Jan-22	12	@alamsya15372517
28-Jan-22	11	@Hopeluck
28-Jan-22	11	@usyksttw
28-Jan-22	11	@Algojali
28-Jan-22	11	@llrioll
10 Jan – 3 Feb	10	@kobel_maria
10 Jan – 3 Feb	10	@_Glaidor_
10 Jan – 3 Feb	10	@you425you
10 Jan – 3 Feb	10	@YUa0Y3cxFRdESDT
10 Jan – 3 Feb	10	@TerraMarllo
10 Jan – 3 Feb	10	@Mirror_73
10 Jan – 3 Feb	10	@cjk20636
10 Jan – 3 Feb	10	@hilzero1
10 Jan – 3 Feb	10	@luckygirlwowow
10 Jan – 3 Feb	10	@FantasyPolka
8 Feb-2022	11	@BuyNoEvil

Blog

A tokenomics update: January, 2023

Users retain all their MNT allocation

Lock & Load

Minterest’s self-sustaining model is better than ever

Launch Schedule

Tokenomics Jan 2023

Early 2022: Planning to launch

Early-to-mid 2022: Major market shift

2022 into 2023: Building a better DeFi

From Josh Rogers, CEO of Minterest

Private Launch Roadmap

Dec 19

Early January

Mid – Late January

Late February

Security Audits

What were the results of the security audits?

Bug Bounty Program

What else?

What’s Inside the Zokyo Security Audit Report?

High Severity Issues

1) Possible re-initialization of the contracts

2) Swap parameters are not validated

Low Severity Issues

1) Pause on the Buyback might block protocol actions

2) Validation is missing

Closing Thoughts

The Minterest Design Philosophy

App Core Design

Colour Theme

Device Types

Alert System

Minterest UI/UX: Knowledge is power in the new DeFi

Bonus: Minterest Merch is coming…

Josh’s Mini Deep Dives

Getting under the hood of Minterest’s design

Tokenomics

Getting tokens

Spectators and players

Facilitating creators

Unrecognised manipulators

No token is free

Lost opportunities

Transforming performance

Value over cost

Effect more

THE Takeaways

What Is Minterest’s Strategic Reserve?

Why Include a Strategic Reserve?

Why Lock & Load?

How Does It Work?

What About NFT Rewards?

How To Get Started?

From Josh Rogers, CEO of Minterest

Private Launch

Early access – LBP participants & NFT holders

Protocol launch – NFT holders

Public Launch

Next Steps

What has Changed?

Minterest Circulating Supply Comparison

New Aspects at Play

Standard Emissions

Emission Reward Vesting

Lock-Ups

Strategic Reserve

Why surplus emissions?

Detailed View of Circulating Supply

DeFi’s New Reality

Minterest’s Revised Tokenomics

Minterest Circulating Supply Comparison

What’s Next?

How do DeFi protocols ensure solvency of the system?

External Liquidators – The traditional way of handling liquidations

Minterest Innovation – Automated Liquidation

Dear Minterest Supporters,

Launch roadmap

Advanced feature set

Portfolio probability risk