Minterest is pleased to announce the successful completion of its comprehensive security audit, conducted by the renowned blockchain security firm, PeckShield. This audit, completed on August 18, 2024, covered the core functionality of the Minterest protocol, with a special focus on the smart contracts that underpin the Minterest lending system. The audit’s findings further strengthen Minterest’s commitment to delivering a secure, transparent, and high-performing decentralised finance (DeFi) platform.

Overview of the Audit

PeckShield, a leading cybersecurity firm specialising in blockchain security and smart contract auditing, conducted a rigorous review of the Minterest protocol’s smart contracts. The goal of the audit was to identify potential security vulnerabilities, performance issues, and architectural weaknesses that could impact the safety and efficiency of the platform. The audit process covered key areas such as:

• Minterest Core Contracts: These contracts handle the essential functionalities of the protocol, including lending, borrowing, liquidation processes, and fee distribution.
• MUSDY and USDY Contracts: PeckShield thoroughly reviewed the contracts responsible for handling the Minterest-stablecoins, ensuring their stability and security within the protocol.

Audit Methodology

PeckShield’s audit methodology is highly regarded within the blockchain community for its thoroughness and precision. The audit process included:

1. Automated Code Scanning: PeckShield used advanced automated tools to scan the Minterest codebase for known vulnerabilities such as reentrancy attacks, overflow/underflow issues, and unauthorised access exploits.
2. Manual Code Review: Following the automated scan, the PeckShield team manually reviewed the code to ensure that complex and nuanced vulnerabilities were also identified. This process included an analysis of business logic, system operations, and potential DeFi-related vulnerabilities.
3. Cross-Platform Testing: The audit involved testing the protocol across multiple scenarios to ensure that the contracts operate as intended under different conditions, including stress testing of liquidation mechanisms and reward distributions.

Key Findings and Resolutions

The audit identified no critical or high-severity vulnerabilities, which is a strong indicator of the robustness of the Minterest protocol. However, a few medium- and low-severity issues were noted, all of which have been addressed by the Minterest team. Here are some of the most significant findings:

1. Constructor Logic Enhancements (Medium Severity)

• Issue: PeckShield flagged an issue related to constructor logic that could lead to unexpected behaviour during the contract initialization phase.
• Resolution: Minterest updated the constructor logic to ensure that all initial parameters are correctly validated, thus preventing any unintended misconfigurations when deploying new contracts.

2. Boost Factor Calculations (Low Severity)

• Issue: An issue was identified in the boost factor calculations that could result in inaccurate reward distribution among users.
• Resolution: The team recalibrated the boost factor algorithm to ensure precise calculations, ensuring that users receive the correct rewards based on their participation in the protocol.

3. Handling of Non-ERC20 Tokens (Low Severity)

• Issue: Some tokens that do not fully adhere to the ERC-20 standard posed a risk of causing operational issues when interacting with the protocol.
• Resolution: The smart contracts were adjusted to account for tokens with non-standard behaviours, ensuring smooth interaction and preventing errors.

4. Admin Key Management (Medium Severity)

• Issue: Potential risks associated with the management of admin keys were highlighted, which could have led to centralization concerns if not properly handled.
• Resolution: The admin key management process was restructured to follow best practices, ensuring that no single entity holds disproportionate control over the protocol. A multi-signature system was implemented to further decentralize control.

5. Liquidation Process with External Exchanges (Low Severity)

• Issue: Minor vulnerabilities were noted in the liquidation processes, particularly when interacting with external decentralised exchanges (DEXs).
• Resolution: The liquidation processes were fine-tuned, with additional safeguards introduced to ensure smooth liquidation flows, even in volatile market conditions.

Benefits to Minterest Users

By addressing the issues identified in the audit, Minterest has reinforced the platform’s security and reliability. The key benefits to users include:

• Enhanced Security: With the identified vulnerabilities resolved, users can feel confident in the security of their assets when using the Minterest protocol.
• Improved Stability: The refinements in reward distribution and liquidation processes ensure that the protocol operates smoothly even in stressful market conditions.
• Increased Transparency: The updated admin key management structure enhances decentralisation and transparency, making Minterest a more community-driven platform.

Ongoing Commitment to Security

This comprehensive audit by PeckShield is part of Minterest’s ongoing commitment to providing a secure and resilient DeFi platform. While the audit has concluded successfully, Minterest will continue to engage with third-party security firms for regular audits and updates as the protocol evolves. This ensures that users can interact with the platform with peace of mind, knowing that Minterest is committed to maintaining the highest standards of security.

What’s Next?

With the audit complete and all identified issues resolved, Minterest is poised to continue its mission of delivering a high-performance, user-centric DeFi platform. Users can expect future enhancements, new token markets, and continued innovations to provide even greater opportunities for yield generation and governance participation.

Conclusion

Minterest’s successful audit completion highlights its dedication to security, transparency, and innovation. As the platform grows and adds new features, Minterest remains focused on ensuring that its users have a safe and rewarding experience. By engaging trusted partners like PeckShield and continually refining its protocols, Minterest is setting the standard for security in the decentralised finance space.

For more details on the PeckShield audit, you can access the full report here.

Thank you for your continued trust and support as we work towards building the future of DeFi together.

Minterest is excited to have a new token market FBTC—a wrapped version of Bitcoin that operates seamlessly across multiple chains available on Mantle chain. Early adopters can participate in the Sparkle Campaign, an exclusive opportunity to earn additional rewards simply by supplying FBTC on Minterest.

What is FBTC?

FBTC is an omnichain Bitcoin asset pegged 1:1 with BTC, offering enhanced accessibility and utility across various blockchain networks. You can read more about FBTC here. By converting idle BTC into FBTC and supplying on Minterest, earn multiple yields – in MNT & MINTY while also securing lucrative benefits in the Sparkle campaign.

The Sparkle Campaign

Through Sparkle Campaign, early adopters are rewarded with a share of 5,000,000 Sparks and the chance to secure a rare Early Igniter NFT. By supplying FBTC, you become eligible for these exclusive rewards while benefiting from Minterest’s optimised APYs, driven by its innovative fee-capture mechanism and emission rewards.

How to Participate in the Sparkle Campaign

1. Supply FBTC on Minterest and maintain a daily average holding of ≥0.001 FBTC during the campaign period, which runs until September 22, 2024. 
2. Receive 4x Sparks per 0.001 $FBTC daily.
3. A dashboard will be available soon by Ignition where you can see your sparks grow. Check here for more info.
4. Participants also share in a pool of extra 5,000,000 Sparks, with rewards distributed based on the number of Sparks you hold relative to the total Sparks.

Join the Sparkle Campaign Today!

Don’t miss out on this exciting opportunity to earn extra rewards while exploring the benefits of FBTC. Supply your FBTC on Minterest today, and become a part of the Sparkle campaign. Whether you’re new to DeFi or a seasoned pro, this is your chance to shine!

For any questions, feel free to contact our mods on Discord/Telegram or email us at nextlevel@minterest.com.

We are pleased to announce that the Minterest protocol has now reopened across Mantle Network, Taiko, and Ethereum chains. Users can once again supply, borrow, repay, and withdraw as usual. 

Below is an overview of the key steps we’ve taken to ensure a smooth reopening and what you can expect going forward.

WETH and mETH Positions Rebalanced

All WETH and mETH supply balances on Mantle Network have been reduced by approximately 14% to maintain the protocol’s stability. Around 1% of users experienced their Health Factor (HF) dropping below 1. These portfolios were rebalanced to an HF of 1.1 through rebalancing liquidations, using existing collateral without any additional fees. Affected users can view their before-and-after balances on a dedicated Rebalancing Page on their dashboard, where they will also find details on their MINTY token compensation, calculated based on the prices of WETH and mETH on 14th July, the day of the security incident.

Security Audit with PeckShield

The Minterest Protocol recently underwent a comprehensive security audit conducted by PeckShield. PeckShield is a leading cybersecurity firm specialising in blockchain technology and smart contract auditing. This audit examined the MUSDY contract and extended to the MToken, MEther, and Supervisor contracts that are essential for the functionality of all token markets on the platform. The Minterest team has thoroughly addressed the findings, confirming the platform’s readiness for a secure and reliable reopening. You can read the summary of the audit report here.

Minterest Reopens with 2x Emissions

To mark the reopening, Minterest is offering a three-week period of increased MINTY & MNT emission rewards for all suppliers and borrowers:

• August 3 – August 9: +100% emission rewards
• August 10 – August 16: +75% emission rewards
• August 17 – August 23: +50% emission rewards

+40% Emissions Boost for Affected WETH and mETH Suppliers

In addition, a further +40% boost in emissions is provided for three months (until 2nd November 2024) to all impacted WETH and mETH suppliers who had $50 or more in supply before the incident.

To learn more about rewards, go here.

What to Expect

• Token Markets Include Audit Verified Badges:
  All token markets now feature a verified audit badge for added transparency. You can read more about the recent security audit completed by PeckShield here.
• Base Interest Rates Return:
  Base interest rates, which were paused for the past 2 weeks, have now returned to normal. Borrowers are again paying interest to suppliers, ensuring the continued health of the platform.

Additional Resources

• Read the Post Mortem of the Security Incident.
• Learn about the Remediation Plan.
• Review the Internal Code Development Policy.

You can also find all the pertinent information catalogued in GitBook here.

During the initial reopening phase, there may be periods of increased volatility as users rebalance their portfolios, which could temporarily influence interest rates and withdrawal processes. We ask for your patience during this phase as market dynamics help bring Minterest back to equilibrium.

Thank you for your understanding and support over the past few weeks as we worked through the reopening process. We’re excited to return to normal operations and focus on our upcoming plans, including new token markets, partnerships, and potential new deployments. The entire team is committed to driving the platform forward and achieving new heights.

For any questions, feel free to contact our mods on Discord/Telegram or email us at nextlevel@minterest.com.

In this article, we will share how the code for the Minterest protocol is created, reviewed, and deployed, along with the toolkits and best practices used.

Code Creation

Step 1. Planning

When developing a new feature, our product and development teams work together to get a high-level feature design ready. Then, developers structure detailed requirements for the feature and place it within the broader scope of the development roadmap.

Minterest development is done using agile methodologies and planned into “Sprints,” 2-week periods focused on delivering set amounts of work for incremental functionality improvements. The art of sprint engineering includes setting priorities, estimating the timeframes and distributing assignments among team members who have the most relevant skill set and expertise in the domain. Then, we execute, test, and review results.

Step 2. Coding Guidelines

Developers follow quality guidelines grounded in the best practices of Solidity code development leveraging OpenZeppelin’s knowledge base. Their Guide is utilised by teams around the world.

Step 3. Coding in Style

Consistency in code style is vital to ensure readability. We check that our code follows an internal Code Style guideline based on the official Solidity Style Guide. This includes details from naming conventions to code layout.

Step 4. Analysis Tools

To catch potential issues early, we utilise several industry-leading static analysis tools and benchmarks.

• Slither: A powerful static analysis tool that scans Solidity code for vulnerabilities and errors, acting as the primary quality gate in the review process.
• Solhint: Used to standardise and format the code, ensuring alignment with the Style guide.
• Hardhat: A versatile toolkit that helps maintain unit test coverage at a 98% level, validated by Codecov. Hardhat also supports various testing and deployment workflows, making it an integral part of our development process.
• Mocha: A testing framework that helps create benchmark tests.
• Finally, the contracts are covered with integration tests that check that changes on the blockchain level do not interfere with the web infrastructure.

Step 5. Simulations

To test how the code would function in a real world setting, simulations are designed to walk through various user behaviour scenarios.

In a general scenario the team defines all potential user groups, including lenders, borrowers, stakers, vesting owners, and parties thereof.

Then, a live protocol simulation test is conducted, where those user groups perform multiple operations like lending, borrowing, staking, and withdrawing. 

The outcome is then compared to the expected results to answer one simple question: in real life, could a user experience any challenges or negatively impact the protocol through their actions? If yes, the decision is made on how to modify the code, and the revision loop iterates until we are satisfied with the output.

Step 6. Integration Testing

The final step before peer review involves integration tests. These tests ensure that changes at the blockchain level do not disrupt the web infrastructure or other critical components of the system.

Code Review

Step 1. Peer Review

Once the code creator is satisfied with the initial result, a peer who has familiarity with the architecture and codebase of Minterest is selected to review it. This approach allows for fresh eyes to evaluate the work and catch potential issues.

The selected reviewer mindfully reads the code, tests it and reaffirms that the output serves the end goal.

Step 2. Verification Against Known Issues

The peer reviewer runs the fresh code through a checklist of known issues. We track different levels of vulnerabilities and so-called “smelly code” — bad practices that should be avoided. The team uses a comprehensive Security checklist compiled from credible sources like Beirão, to guide this process.

Independent Peer Review

We are now adding independent peer reviewers as part of the development pipeline to enhance code quality and security. This involves engaging with external experts to provide an unbiased evaluation of the underlying codebase.

Step 1: Engaging External Reviewers

We select reviewers with expertise in blockchain and smart contract security from trusted partners and the broader community. They bring fresh perspectives to identify potential issues.

Step 2: Review Process

These external reviewers thoroughly analyse the code and documentation, focusing on security vulnerabilities and best practices, using the same tools and standards as our internal team.

Step 3: Feedback and Iteration

The feedback is reviewed with our team, necessary revisions are made, and the code is retested until both parties are confident in its security and reliability.

This process adds an extra layer of scrutiny, reinforcing our commitment to delivering secure and reliable smart contracts.

Third-Party Audit

Security Audit Policy

The final line of defence is the third-party audit. Audits are specifically scheduled for code that directly interacts with user assets. This includes code changes that impact money markets, MINTY distribution, or processes related to assets, user roles, or contract ownership.

Other changes are accumulated for periodic full-scale audits, like previously audited integrations with bridges or Internal changes in liquidation engine contracts.

Step 1. Audit Prep: Tag and Organise

Both code creator and a peer reviewer mark the code that requires third-party auditing. This organisation helps streamline the audit process and ensures that no critical changes are overlooked.

Step 2. Audit Scope

We document the changes from the previous audits and intended functionality in fine detail, catering to the auditing firm’s needs. 

Then, we prioritise revision areas based on the deployment schedule and coordinate with the audit provider to establish a timeline for deliverables.

Step 3. Audit Kickoff

The batched code and documentation are sent to the third-party audit team. Throughout the audit, our team provides any additional context or explanations needed to help the auditors fully understand the changes.

Step 4. Audit Process

When the audit team is ready to provide results, we review the audit report together with the audit team to make sure we understand all findings. 

We then prioritise and implement necessary fixes, re-test the code to ensure no new issues arise, and resubmit the update to the audit team for another round of reviews. This process iterates until the teams agree to sign off.   

Finally, the auditor provides a report with the finalised review, findings and recommendations.

Step 5. Go Live

Finally, the code is deployed to the main network. Post-deployment, we monitor the code to ensure stability, performance, and security.

Conclusion

This document is provided to show our commitment to transparency and continuous improvement by sharing Minterest’s development process.  If you are a domain expert with feedback, please share it with our team on any of our social channels.

And, thank you to the community for your continued support of Minterest.

Minterest has introduced a competitive Points System on Taiko that rewards you for taking part in supplying, borrowing, and other activities. By staying active on Minterest, you can accumulate points (aka Mints), improve your leaderboard rankings, and unlock benefits and rewards. Rewards include future drops of MINTY, NFTs, and more.

Why Taiko?

Taiko makes Ethereum faster and cheaper without losing any security or compatibility. It uses zero-knowledge proofs, which means transactions are faster and cost less. Plus, because it’s fully compatible with Ethereum, everything you do on Ethereum can be done on Taiko without any changes. This makes it perfect for the Minterest Points System because it ensures smooth, fast transactions and low fees. This all adds up to a better experience for you.

Taking part and earning Mints

Anyone with a Minterest account can take advantage of the points system. All you need to do is connect your wallet to accumulate Mints and track your progress on the leaderboard.

Users can rack up Mints through a range of activities on Minterest like supplying, borrowing, referrals, and other special tasks.

Supplying

You can earn Mints by supplying assets on the Minterest platform. Mints are calculated based on the amount you lend and for how long. For supplying, you earn 10 Mints per $100 every 24 hours.

Borrowing

Mints can also be earned by borrowing assets. Mints earned are proportional to the amount borrowed. When you borrow, you earn +30 Mints per $100 every 24 hours.

Additional activities

You can accumulate even more Mints through special tasks and events announced periodically for bonus Mints.

We’ll be adding in referrals very soon where you can earn Mints for every new user you refer who joins and participates on the platform.

Coming Soon : Boost your Mints with Minterest NFTs

Coming soon, holding Minterest NFTs will boost the amount of Mints you earn. Higher rarity NFTs increase the bonus Mints earned.

Note: All Minterest NFTs are valid, even if their NFT boost period has expired.

NFT Bonus Mints

NFT Level	Bonus Mints
1	+ 50%
2	+ 45%
3	+ 42.5%
4	+ 40%
5	+ 37.5%
6	+ 35%
7	+ 30%
8	+ 27.5%
9	+ 22.5%
10	+ 20%
11	+ 20%
12	+ 20%

How the leaderboard works

Ranking

Your leaderboard ranking is based on the total Mints you have accumulated. The more Mints you earn, the higher your rank.

What’s displayed on the leaderboard?

The leaderboard shows the following metrics:

• Rank: Your position on the leaderboard.
• Total Mints: The cumulative Mints you have earned.
• Daily Mints: Mints accumulated in the last 24 hours.

How often is the leaderboard updated?

The leaderboard is updated every 24 hours at 6 AM UTC to reflect the latest Mints and rankings. Check regularly to see your updated position.

Rewards

Redeeming your Mints

Mints can be redeemed for rewards in future. Rewards will include:

• Tokens or benefits.
• Access to exclusive features or tiers on the Minterest platform.

Bonus Mints

At certain times, you can earn bonus Mints or multipliers to boost your Mints. Stay tuned to Minterest for announcements!

Invite your friends

Soon we will be adding a referral program which will let you earn extra Mints by bringing your friends to the platform. Mints will be  awarded when the friends you refer actively engage in supplying and/or borrowing.

How to check your Mints

To check your ranking and Mints on the leaderboard, follow these steps:

1. Click on “Connect Wallet” on the Minterest App.
2. Select your wallet and authorise the connection.
3. Select your network.
4. Once connected, go to the “Points” menu to view your current ranking and Mints.

Common questions

How do I start earning Mints?

Simple. Connect your wallet to Minterest and start supplying, borrowing, and taking part in other activities to accumulate Mints. The more you participate, the more Mints you earn.

My Mints are not updating. What should I do?

Ensure your wallet is correctly connected. If the issue persists, contact Minterest support. We’re always happy to help!

Expanding to other chains

While the Points System is currently live on Taiko, we plan to extend it to other chains very soon. This will allow more users across different platforms to benefit from the rewarding system Minterest offers.

Conclusion

The Minterest Points System on Taiko is designed to reward your active participation on the platform. This system not only keeps the community active but also makes your experience more rewarding. 

Earn Mints, climb the leaderboard, and unlock rewards like MINTY tokens and exclusive NFTs. Start earning, and see how you can maximise your returns with Minterest. 

Got questions? We’d be happy to answer them on Telegram, Discord or Twitter.

Minterest NFTs are more than just digital collectibles. They’re integral to the Minterest protocol. They enhance your yields while also acting as cool and unique art pieces. 

Let’s take a closer look at how our NFTs can make your experience on Minterest more rewarding.

Overview of Minterest NFTs

Minterest NFTs enhance user engagement and returns. Spanning 12 tiers, the collection includes 3,000 unique NFTs, each meticulously crafted to honor key pioneers and innovators in the blockchain space.

These NFTs vary in rarity and in the functional benefits they offer. From increasing yields to providing exclusive access to new features, each tier adds a layer of value.

The artworks themselves serve as a tribute to the influential figures who have shaped the cryptosphere. Each NFT is a piece of blockchain history. Whether you’re a novice in the digital assets space or a seasoned collector, Minterest NFTs offer a way to commemorate these icons while enhancing your returns on Minterest.

Expiry alert for Level 12 NFTs

Level 12 NFTs are the most attainable of our Minterest NFT collection. They offer  yield boosts – of 20%. These premium NFTs supercharge your returns AND stand as digital representations of your commitment to the DeFi space.

However, these  NFTs come with an expiry date. Level 12 NFTs are set to expire in July 2024. This means that the exceptional benefits they offer will no longer be accessible after this date.

If you are the lucky holder of a Level 12 Minterest NFT, now is the time to fully utilise those yield-boosts. Max out your NFTs before they expire and enhance your returns. Reap the full benefits of your investment. For every bit of yield you obtain through supplying or borrowing on Minterest, you get a boost through an NFT too.

Levels 8 and 9 NFTs

Looking for longer term benefits? Levels 8 and 9 of Minterest NFTs offer long-lasting benefits to their holders. These tiers strike an ideal balance between yield enhancement and longevity. 

Level 8 NFTs come with a yield boost of 27.5% and are valid until October 2025. Level 9 NFTs give you a 22.5% boost  and their validity stretches until next April.

These levels are designed for those who want to sustain high returns over an extended period. The longer validity means you can enjoy the benefits deep into 2025, making these NFTs particularly sought after by long-term DeFi strategists.The yield boosts associated with these NFTs significantly enhance the returns on both lending and borrowing activities. They are powerful tools for those looking to maximise their investment outcomes on longer time frames.

You can buy Minterest NFTs from Mintle here or bridge your Minterest NFT from Ethereum.

How to bridge Minterest NFTs to Mantle Network

You can now bridge your Minterest NFTs directly to the Minterest app! Bridge your NFT today to utilise your yield boosts and maximise your yields. 

Here’s how to do it:

1. Log in to your Minterest account and navigate to NFT Bridge on the menu in the top right corner.

2. Click on NFT Bridge to open the NFT Bridge widget. This is where you can pick your wallet where the NFT is stored.

3. Go through the permission allowance and transfer process with the wallet of your choice.

4. If your transfer is successful, you will receive a transaction success message like below.

5. Click on See transaction in block explorer to monitor the status of the bridging.

6. When the transfer is complete, the Delivered status will appear. 

7. After you have successfully bridged your NFT to Minterest, the NFT will appear on your Dashboard page of the Minterest App when logged into the Mantle Network.

8. On the main page of the Minterest App, the Mantle dashboard will show an activated NFT gauge once the APY boost feature is launched.

Pick up a Minterest NFT on OpenSea or Mintle today to boost your yields and get privileged platform access. 

Join the Minterest community on Telegram, Discord and Twitter to meet like-minded people and position yourself for upcoming opportunities.

DeFi is known for offering key advantages over TradFi. Enhanced transparency, security, accessibility, and inclusivity to name just a few. But what really draws most people to DeFi are the significantly higher yields. 

Earning generous APYs through lending crypto, providing liquidity to trading pools, or staking tokens can be very attractive compared to conventional banking. 

The sharpest investors, however, are always looking for ways to enhance their returns even further. And DeFi offers plenty of ways to do this.

Let’s explore one of the most effective strategies to maximise your earnings in DeFi: yield boosters. 

What are yield boosters?

Yield boosters are tools or mechanisms within a DeFi protocol that enhance your returns. They work by increasing the efficiency of the assets you lend, stake, or provide as liquidity. Essentially, yield boosters help you earn more from the same activities, making them highly attractive for maximising gains in DeFi.

Common examples of yield boosters

Many DeFi projects use yield boosters to attract and retain users with enhanced returns. For example, a protocol might offer additional rewards tokens for staking their native tokens longer than a minimal period, effectively increasing the APY. 

Another common example is liquidity mining, where users are rewarded with extra tokens for providing liquidity to trading pairs. These mechanisms improve user rewards and encourage long-term participation.

Minterest NFTs

Minterest NFTs play a key role within our platform. They are unique pieces of art that also offer real functionality. Our collection spans 12 tiers, featuring 3000 NFTs that pay homage to prominent figures in the blockchain world. 

These NFTs serve dual purposes within the Minterest community:

• Collectibles: Each NFT is a collectible art piece with its own unique value.
• Yield-boosters: Beyond their aesthetic value, Minterest NFTs enhance yields. 

NFT rarity and yield-boosting capability vary significantly. Depending on their tier, NFTs can boost emissions by up to 50%. Rarer NFTs offer fewer copies of each artwork, higher emission boosts, and longer validity periods, making them highly sought after in the community.

Examples of Minterest NFT yield boosts

Borrowing $mUSD

Consider a scenario where you borrow $mUSD on Minterest. Without NFT boost borrowing, $mUSD yields 27% in MINTY and MNT emissions. 

Now, introduce a Tier-12 NFT with a 20% Yield Boost. Suddenly, your total yield jumps to (27% * 1.20) = >33% (after applying the boost)! The additional value is clear.  

Borrowing $USDT

When borrowing $USDT, yields see a similar boost. Without the NFT, in this example, you earn 17% in MINTY and MNT. With an NFT Boost, this increases from 17% to (17% * 1.20) = >20%! The significant benefit of incorporating these digital assets speaks for itself.

How to use your Minterest NFTs

Using your NFTs on Minterest is easy. To activate the Yield Boost NFT, make sure it is bridged to the chain you are lending or borrowing on, for example, the Mantle Network. The NFT must be in the same wallet that you are lending and borrowing from. It will appear on your Minterest dashboard and the boost is automatically applied. Please refer to our guide on how to bridge Minterest NFTs to Mantle here. 

Conclusion

Minterest offers excellent yields thanks to our unique model that returns 100% of fees to our users. Minterest NFTs let you enhance that yield even further.

Don’t have an NFT yet? Get them now on OpenSea and Mintle. 

Stay tuned to Minterest for more upcoming features, new integrations, and community updates on Twitter, Discord, and Telegram.

As the bull market heats up, DeFi summer 2.0 is just around the corner. 

Minterest delivers dollar-for-dollar the highest yields in DeFi and returns 100% of fees to users. This makes it a great place to start your DeFi journey and maximise your yields.

One of the best ways to maximise your yields on Minterest are Minterest NFTs. Our range of tiered NFTs boost your yields and bring a host of other benefits too.

Here are five reasons you should get your hands on a Minterest NFT on Mantle right now.

1. Boost the yields on the assets you lend

Minterest NFTs act like turbochargers for your financial growth on Minterest. They significantly amplify the rewards you earn from lending and borrowing. 

Every transaction on Minterest earns you rewards in the currency you’re lending/borrowing AND the platform’s native token $MINTY. Depending on the tier of your Minterest NFT, it can dramatically increase your yield up to a whopping 50%.

Even lower tier NFTs give impressive yield boosts. For example, holding a tier-10 NFT gives you a 20% boost. For example, if you are earning 40% APY in MINTY tokens, this pushes it up to 48%. 

Minterest NFTs also allow autostaking of the emissions you earn, compounding your bonuses further. A very rewarding cycle for Minterest users.

2. Get $MINTY bonuses

Beyond enhancing your yield, Minterest NFTs unlock extra $MINTY bonuses and exclusive benefits. This is part of Minterest’s unique model of redistributing 100% of fees back to users, enhancing the overall profitability of participating in the platform.

$MINTY token holders have the right to participate in governance decisions. This includes voting on proposals and making changes to the protocol. By holding Minterest NFTs and maximising your $MINTY, you can have a bigger say in the development and operational strategies of the Minterest platform.

3. NFTs are time-limited

These yield-boosters are time-limited and their benefits are coming to an end soon. Some lower-tier Minterest NFTs expire in July. 

If you’re a Minterest NFT holder or you’re planning to get one, make sure you’re aware of this, and get the most out of its yield-boosting benefits while you still can. Don’t miss your chance to optimise your returns and get the FULL potential out of your Minterest NFTs.

4. Maximise your $MNT yield with Minterest NFTs

Take advantage of Mantle’s growing popularity and the $MNT token. By using Minterest NFTs, you also supercharge your returns in $MNT by up to 50% too and get premium tokens without the extra spend. It’s a smart way to enhance your portfolio and get more benefits from Mantle’s vibrant ecosystem.

5. Exclusive community

By joining the Minterest NFT community you become part of an exclusive circle. 

Soon, Minterest will launch a special Discord channel, offering unique insights and benefits only available to NFT holders. And as an early supporter, you get access to NFTs with higher rarity and longer validity but also the opportunity to trade them within the community.

What are you waiting for?

If you’re not already a Minterest NFT holder, it’s time to change that. Get the most out of Minterest by maximising your yields and getting exclusive alpha from our NFT community.

Pick up a Minterest NFT on OpenSea for Ethereum and Mintle for Mantle Network today.

High yield and eye-catching rewards are no longer enough to get real value in DeFi in 2024. Minterest has developed Web3’s first lending protocol that encourages long-term participation. 

Keep reading to learn how we’ve created a protocol where true supporters get maximum rewards.

100% of fees return to users

Unlike other lending protocols in the market, Minterest revolutionises the DeFi space by capturing 100% of protocol fee value through more means than any other lending protocol:

• Interest Rate Spread
• Flash Loans
• Minterest’s exclusive solvency engine. 

This approach maximises efficiency in value capture, increasing rewards for lending while reducing the effective cost of borrowing. By redirecting all captured fees to Minterest users, we encourage them to remain active on the platform.

TVL drives rewards

As Minterest’s TVL grows it can create a positive feedback loop since increasing TVL generates more fees, fees generate greater buy back, greater buy back provides greater rewards for users, and thus attracts further liquidity. This cycle of growth improves the net yields for both lenders and borrowers, drives sustainable tokenomics, and increases rewards to strengthen users’ loyalty to Minterest.

Governance rewards

Governance rewards are the key to protocol value in the Minterest model. Minterest governance rewards are directly connected and sourced from the buyback mechanism. The longer users stake $MINTY, the more incentives and governance weight they receive in voting rights based on a loyalty boost, rewarding long term active participation in the governance process. 

This voting right and reward system enriches the governance process and ensures that true Minterest supporters are given generous yields and bonuses.

Strategic reserve

The Strategic Reserve is a treasury of $MINTY tokens to be utilised by the future Minterest DAO to support the protocol’s growth. 

A portion of the Strategic Reserve is staked and grows. The rewards can be used by the Minterest DAO in a multitude of ways via fiscal and monetary policy-inspired levers to benefit the protocol and its users including, but not limited to:

• Growth: The DAO can utilise treasury earned from the buyback to fund new developments beneficial to the community. 
• Token supply management: The DAO can elect to stake and lock any buyback tokens away to reduce on-market supply. 
• Refresh emissions: As opposed to other lending protocols that run out of token emissions, Minterest can utilise Strategic Reserve earnings to recycle them back into emissions to continue providing greater rewards than other protocols.

Minterest NFTs

Minterest NFTs provide a unique use case in DeFi as a core of the protocol. 3000 NFTs span across 12 levels, each granting a holder a different perk. The main utility of the NFT is the emission booster granted to the holder, increasing yields by up to 50% depending on the tier. 

NFTs attract early adopters to Minterest, bootstrap liquidity, encourage education and loyalty to the protocol. Minterest NFTs fulfil a multi-layered mission as they increase emission rewards, effectively boosting the amount of $MINTY staked in governance, which in turn increases governance rewards received from the buyback mechanism. 

Learn more about Minterest NFTs here, check out the beautiful Minterest NFT Gallery and get started on your collection on OpenSea and stay tuned for the upcoming Minterest NFT collection launch on Mintle. 

Wrapping up

Minterest creates an economic model that rewards long-term engagement and participation. Through its solvency engine, governance rewards, strategic reserve, and the resulting token scarcity, Minterest has developed a seamless ecosystem that incentivises users to invest in the platform’s future.  

Start your Minterest journey on Telegram, Discord and Twitter.

We are excited to announce that the Minterest NFT boost just went live on March 18th! The Minterest NFT collection offers 3,000 NFTs across 12 tiers, with each NFT featuring one of 100 unique designs. 

The rarer the design, the bigger the Emission Boost and the longer it lasts. Simply holding an NFT enhances your $MINTY (and $MNT on Mantle Network) yield by 20-50%, based on its tier, turning participation in Minterest into an even more rewarding experience.

This article will explore how the Yield Boost works and how to leverage it for maximum returns.  

Understanding yields on Minterest

Minterest provides five distinct yield types, each tailored to meet diverse investor needs and strategies:

• Base interest: The basic yield you get from lending or borrowing activities.
• $MINTY rewards: Returns in Minterest’s native token.
• $MNT rewards: Returns in the Mantle Network token, diversifying your yield sources.
• NFT Boost: 20-50% increase in $MINTY (and $MNT rewards if on Mantle Network).
• Native yield: Inbuilt yield from interest bearing assets like USDY and mETH.

Choosing your token market is key, as each asset comes with unique yield potential. To check what yields you can earn, hover over the question mark icon next to the token market on the Minterest app.

Introducing Minterest NFTs

Minterest NFTs are a powerful tool designed to amplify your returns. To illustrate the impact of these NFTs, let’s look at two examples:

Borrowing $mUSD

Consider a scenario where you borrow $mUSD on Minterest. Without NFT boost borrowing, $mUSD yields 27% in MINTY and MNT emissions. 

Now, introduce a Tier-12 NFT with a 20% Yield Boost. Suddenly, your total yield jumps to (27% * 1.20) = >33% (after applying the boost)! The additional value is clear.  

Borrowing $USDT

When borrowing $USDT, yields see a similar boost. Without the NFT, in this example, you earn 17% in MINTY and MNT. With an NFT Boost, this increases from 17% to (17% * 1.20) = >20%! The significant benefit of incorporating these digital assets speaks for itself.

How to use your Minterest NFTs

Using your NFTs on Minterest is easy. To activate the Yield Boost NFT, make sure it is bridged to the chain you are lending or borrowing on, for example, the Mantle Network. The NFT must be in the same wallet that you are lending and borrowing from. It will appear on your Minterest dashboard and the boost is automatically applied. Please refer to our guide on how to bridge Minterest NFTs to Mantle here.

Conclusion

Boost your yield with a Minterest NFT! Don’t have an NFT yet? Add them to your collection by purchasing from OpenSea and Mintle.

Stay tuned for more upcoming features, new integrations, and community updates on Twitter, Discord, and Telegram.

Campaign Dates: February 27 – March 11, 2024
Distribution of NFTs to winners – March 15, 2024

There is no way to hide our excitement, Minterest NFTs – now coming to Mantle Network. Minterest NFT collection includes 3,000 unique NFTs divided into 12 tiers, 1 being the highest & 12 – lowest. Each NFT presents a unique artwork featuring prominent figures in Web3 and offers emission boosts of 20- 50% for supplying and borrowing for a duration of 5 to 38 months.

To celebrate the launch of Minterest NFTs on Mintle, the leading NFT marketplace on Mantle, we’re hosting a massive competition on Galxe in partnership with Mantle Network & Mintle launching on Tuesday, February 27. 

Keep reading this blog post and be among the first to win Minterest’s limited edition yield boosting NFTs on Mantle Network.

Campaign structure

Our competition will be hosted on Galxe and offer a combination of social and on-chain tasks for crypto beginners and Web3 natives.

X space

We’ll kick off the campaign with a dedicated X Space hosted by Mantle where you can win 3 Level-12 NFTs. Don’t miss the chance to get answers to all your burning questions and start climbing the leaderboard. 
Book the date: here

Social (off-chain) tasks

Social campaigns will be split into two equal phases:

• Phase 1: February 27 – March 4. 
• Phase 2: March 5 – March 11.

In both phases, you’ll be able to enjoy similar quests such as interacting with our social communities, inviting friends to join the contest, as well as tweeting about your experience with Minterest NFTs. By splitting the campaign into 2 equal stages, we’re giving away double the amount of prizes! All you have to do is complete all the (super simple, might we add) tasks and you enter the raffle.

At the end of each phase, we’ll pick 25 winners totalling to 50 who supercharged our socials through a raffle. Each lucky community member will be rewarded with a Level-12 NFT. If you don’t win an NFT in the raffle of Phase 1, you will be added to the raffle of Phase 2.

On-chain tasks

If you want to take it up a notch and aim for NFT tiers offering higher boosts and longer validity, participate in the on-chain tasks. Unlike social and referral quests, on-chain activities will not renew and stay the same for the entire duration of the competition: from February 27 to March 11.

XP points

When you choose to do on-chain activities, you’ll be earning experience (XP) points. Your experience points will stop accumulating on March 11, 11:59 UTC. We’ll take a snapshot of the leaderboard wherein Top 100 contestants enter a raffle to split a prize pool of 25 Level-11 NFTs, 15 Level-10 NFTs, 9 Level-9 NFTs, or even a Level-4 NFT. In case of tie, all participants with equal XP up till position 100 on leaderboard shall be entered in the raffle.

Benefiting Citizens of Mantle NFT holders

Issued by Mantle Network, Citizens of Mantle is a NFT collection developed in collaboration with famed international visual artist Chen Man, whose signature style merges elements from both Eastern and Western traditions, enhanced by 3-D rendering and image manipulation techniques. 

If you already hold Citizen of Mantle (CoM) NFT, this is your one-of-a-kind opportunity to super boost your gains on Minterest on Mantle Network. Take part in this pool to win a Minterest NFT and get higher yield for all supplying and borrowing activities. 

Don’t have a CoM yet? Head over to Mintle and grab your own piece of the Citizens of Mantle collection. 

To support Citizens of Mantle holders, we’ll give away additional 50 Minterest NFTs of different tiers to Galxe participants who complete the tasks in this quest. 

Final surprise

In addition to the X space and Galxe campaign, we’re teaming up with top Key Opinion Leaders to give away more NFTs. Turn the bell on for the Minterest X, formerly Twitter account and stay tuned for daily alpha and a lineup of opportunities to bag an NFT.

Next steps

1. Follow us on Telegram, Discord and Twitter. 
2. Save the date for our Twitter Space hosted by Mantle Network
3. Keep an eye on Minterest NFT giveaway from your favorite opinion makers. 
4. Already own a Minterest NFT on ETH? Read this step-by-step guide for bridging Minterest NFTs to Mantle Network.

Minterest NFTs are at the core of our protocol community. They present a unique use case in DeFi and bring a new dimension to lending and borrowing as collectables, yield boosters, and so much more. 

Continue reading to find out more about what Minterest NFTs are, how to bridge them to Minterest protocol to get maximum value, and why you should consider getting one now.

Introducing Minterest NFTs

3000 Minterest NFTs span over 12 tiers and pay homage to prominent figures in blockchain, all while offering special perks in the Minterest protocol. 

The collection combines two main use cases:

• Community collectables featuring unique art.
• Keys to one-of-a-kind emission boosters of up to 50%, depending on the tier, and privileged access for both supply and borrowing activities during the Private and Public Launches.

Not all NFTs are created equal: the collection varies by rarity and yield-boosting capabilities. With each NFT represented by 1 of 100 unique artwork, rarer NFTs have fewer copies of each artwork, have higher Emission Boost, and longer validity periods.

Minterest NFTs are rewards to active users during community events like AMAs, giveaways, lotteries, and other activities, and were initially awarded to Minterest LBP participants. They are also sold by community members across various NFT marketplaces, including on OpenSea, so that users can trade NFTs and transfer ownership of the corresponding boost, with previously earned MINTY kept by the original owner.

How to bridge Minterest NFTs to Mantle Network

We are proud to introduce NFT Bridging directly to the Minterest app! The NFT Boost  will be activated on March 18, 2024, so hurry up to bridge your NFT before then and be ready to maximise your yields. 

Follow the process below to migrate your Minterest NFTs to the protocol:

1. Log in to your Minterest account and navigate to NFT Bridge on the menu in the top right corner.

2. Click on NFT Bridge to open the NFT Bridge widget. This is where you can pick your wallet where the NFT is stored.

3. Go through the permission allowance and transfer process with the wallet of your choice.

4. If your transfer is successful, you will receive a transaction success message like below.

5. Click on “See transaction in block explorer” to monitor the status of the bridging.

6. When the transfer is complete, the Delivered status will appear. 

7. After you have successfully bridged your NFT to Minterest, the NFT will appear on your Dashboard page of the Minterest App when logged into the Mantle Network.

8. On the main page of the Minterest App, the Mantle dashboard will show an activated NFT gauge once the APY boost feature is launched.

5 reasons to get Minterest NFTs NOW

The Public Launch is just around the corner, and many Minterest NFTs have already been distributed, but you still don’t have one. Why should you get Minterest NFTs? 

With multi-layered utility and unique use case, there are 5 main reasons why the best time to get a Minterest NFT is now:

1. Minterest NFTs boost your yields on lending and borrowing by up to 50%, making your capital work harder and smarter in the protocol.
2. Minterest will soon open an exclusive Discord Channel for the community of Minterest NFT holders with unique benefits and alpha. 
3. As an early community supporter, you have a chance to access NFTs of higher rarity. A higher tier means bigger boosts and a longer expiration period so that you can enjoy the super-yield bonuses you deserve. 
4. Minterest NFTs can work across all chains Minterest deploys on, including the Mantle Network. Take your yield-boosting NFTs wherever Minterest deploys and boost your earnings.
5. Trade Minterest NFTs within the community to diversify your collection, get rewarded, and get the yield-boosters you need.

Get your Minterest NFT on OpenSea and stay tuned for the upcoming Minterest NFT collection launch on Mintle.

Jump into our community on Telegram, Discord and Twitter, and be the first to grab the next chance to claim your Minterest NFT.

DeFi challenges the norms of traditional lending that banks have enforced for generations. This guide delves into the basics of crypto borrowing and the opportunities it opens for lenders and borrowers alike. By leveraging your crypto assets, you can unlock capital without selling your digital holdings.

In this article, we dive deeper into what crypto borrowing is, how it is different from traditional borrowing, and where to get started with borrowing on Minterest.

What is crypto borrowing?

Crypto borrowing is a DeFi feature that allows investors to take loans using their crypto assets as collateral. Collateral means using your crypto holdings as a security against your loan. 

By being alternatives to traditional banks, decentralised platforms play the role of intermediaries in connecting borrowers with lenders directly. In crypto borrowing, transactions are governed by smart contracts. With their terms coded in, these self-executing contracts make every transaction transparent with all information recorded and easily verifiable on the blockchain. While such contracts don’t set the rules themselves, they enforce the predefined terms of borrowing and lending automatically.

Borrowers have access to a variety of loan options. Collateralised loans are the most common in the industry and require over-collateralisation to mitigate risk. This structure means you can borrow only a fraction of your collateral’s value. For those who prefer flexibility, crypto lines of credit offer more funds, with interest rates applied only to the amount you use. Another type, uncollateralised loans, depends on creditworthiness and trust, but they are rarely offered in crypto due to the high risks involved.

Benefits of crypto borrowing

Crypto borrowing offers numerous benefits and provides an efficient way to manage your finances. Here are the key advantages as opposed to TradFi loans:

• Access to liquidity: Borrowers can get cash by taking out a loan against their crypto. It allows them to keep their assets and any potential future increase in their value.
• Investment leverage: By using crypto as collateral, investors can access funds to diversify or increase their investment portfolio.
• Hedge against volatility: Crypto borrowing can help reduce the risks that come with market value changes.
• Efficiency and accessibility: The process avoids the credit checks and paperwork of traditional banking and offers a faster borrowing experience.
• Competitive rates: The interest rates for crypto borrowing are often more profitable compared to traditional banks.

Crypto borrowing on Minterest

Minterest is the first decentralised lending protocol that returns 100% of fees to its users. As opposed to lending protocols like Aave, Compound, and others, the protocol design is deflationary and benefits both lenders and borrowers. It’s engineered to attract and reward long-term liquidity providers and holders. The platform gives back the value it earns to users and those holding $MINTY tokens.

Borrowing

Borrowing on Minterest is flexible. The amount that can be borrowed depends on the value of assets you have supplied as collateral and the available liquidity in the protocol. If there isn’t enough liquidity or if your health factor drops below its threshold, you won’t be able to borrow. You can check the liquidity and borrowing parameters for each market on the market details page of the app.

Interest rates and $MINTY rewards

On Minterest, the interest rate for borrowing is dynamic and it adjusts based on the demand for the asset you want to borrow. You can always see the current rate right on your dashboard.

When you borrow on Minterest, you’ll be paying interest on what you borrow, but you’ll also be earning $MINTY rewards based on how much you’ve borrowed. Both the interest rates and $MINTY rewards change often, and you can find all the latest details, like APR and any rate changes, on the market details page in the app. 

How to avoid liquidation

Keeping a good health factor well above “1” is key to avoid liquidation on Minterest. If it drops below “1” into the red zone, the protocol will use some of your collateral to pay off your loan. To prevent this, you can do two things: pay back a portion of your loan early, which is usually a preferable choice, or supply more collateral to improve your health factor. 

Minterest offers a variety of tools and features to help you keep track of your loan, lower the chance of your collateral being used, and ensure your borrowing experience is safe and stable.

How to get started

Getting started with Minterest borrowing is easy. To borrow an asset on Minterest, follow these steps:

• 1. Begin by supplying an asset to the platform, which will be used as collateral for your loan.
• 2. After supplying your asset, go to either the “Markets” or “Dashboard” page on Minterest.
• 3. Enable collateral for all token markets you want to borrow against.

• 4. Choose the “Borrow” button for the specific asset you wish to borrow.
• 5. Decide on the amount you want to borrow.

• 6. Finalise your borrowing decision by confirming the transaction.

• 7. Interest payments will automatically commence once your borrow is registered, based on that asset’s current borrowing interest rate.

Conclusion

Crypto borrowing on Minterest opens a new chapter in DeFi. Minterest unlocks the highest sustainable yields and best borrowing terms as the only DeFi lending protocol returning 100% of fees to its users. 

Don’t miss out on the latest in DeFi and crypto borrowing: follow Minterest on Telegram, Discord and Twitter.

Minterest is thrilled to announce the launch of two new next-generation assets on our protocol: $USDY/$mUSD, powered by ONDO Finance, and $mETH, powered by the Mantle Network! As we pave the way for a new era in lending and borrowing, we invite you for an exciting journey into the native yield-bearing $USDY/$mUSD and $mETH markets.

Lending $USDY/$muSD and $mETH earns you a variety of yield too:

• Base interest.
• $MINTY.
• $MNT.
• Yield-bearing APY.

In this article, we’ll dive into the details of our partnerships and provide a guide on how to be the first to access the new assets on the platform.

What is $USDY/$mUSD?

$USDY and $mUSD are native assets on ONDO Finance backed by real-world assets that generate native yield.

Here’s a brief overview of each:

• $USDY: $USDY is an accumulating token. Holders of $USDY experience a direct increase in their token’s value. The yield is generated from underlying assets in the form of increasing redemption value. In simpler terms, the value of 1 USDY will automatically increase over time as interest is accumulated. $USDY can be purchased on any of the supporting DEXs: FusionX, iZUMi.finance, and Agni.Finance. 
• $mUSD: At its core, $mUSD is a tokenized bearer note designed to maintain a $1 peg. Its unique mechanism allows it to rebase, with interest distributed through the issuance of new token units. This ensures that $mUSD holders enjoy stability and benefit from the accumulated interest.

Which asset does Minterest support?

Minterest now supports deposits in both $USDY and $mUSD within the same token asset market.

The two assets are utilised interchangeably. Minterest utilises USDY so mUSD deposits will be converted to USDY automatically. Tokens can also be withdrawn to either asset type. All native interest generated will continue to be earned on the chosen asset.

What is $mETH?

mETH is a permissionless ERC-20 receipt token offered by Mantle, enabling users to stake ETH and receive mETH in return. 

It serves as a value-accumulating token that can be seamlessly integrated into applications, representing the underlying staked ETH and accumulated rewards. This innovative token is part of Mantle’s Liquid Staking Protocol (LSP), aligning with the goal of mass adoption of DeFi.

How to get $mETH?

The best way to obtain $mETH is to purchase it on one of the supporting DEXs: FusionX, iZUMi.finance, or Agni.Finance.

What’s next? 

More markets, more crypto, and more opportunities to lend and borrow with the only lending protocol that redistributes 100% of fees back to its users. 

Stay tuned for more announcements and community updates on Twitter, Discord, and Telegram.

We’re excited to announce that Minterest is now integrated with API3, a leading blockchain oracle provider. This partnership bridges the gap between off-chain data and on-chain applications like Minterest with maximum security and minimal latency. 

Our collaboration combines API3’s advanced data services with Minterest’s next-gen lending protocol. Minterest is now seamlessly integrated into the robust Mantle Network to unlock lending and borrowing in $mETH and $MUSD. 

Together with API3 and the Mantle Network, we’re creating a DeFi space that is more secure and user-focused. This partnership will introduce new opportunities and much-anticipated mETH and mUSD markets, expanding our potential in the DeFi landscape. Read more to uncover the details of our collaboration.

What is API3?

API3 is a leading blockchain oracle provider bridging traditional third-party oracle networks to first-party oracle solutions. 

API3 offers a range of tools for developers who are creating advanced applications, including:

• Airnode, which lets API providers connect directly to the blockchain.
• Decentralized data feeds (dAPIs) available on the API3 Market.
• QRNG services that generate genuinely random numbers on the blockchain.
• OEV Share, is a feature that helps decentralized apps (dApps) enhance their performance and benefit from Oracle Extractable Value.
• And much more. 

API3 builds an interconnected, sustainable ecosystem with verifiable, decentralized, and secure oracle solutions.

What is Minterest?

Minterest is the only decentralized lending protocol that captures 100% of fees and then redistributes those fees back to users through a  buy back of the $MINTY governance token. Minterest is also able to tap into greater fee capture through its unique Solvency Engine which manages liquidations at the protocol level instead of relying on third parties.

The protocol’s architecture attracts and retains long-term liquidity over inflationary mechanisms and ensures that Minterest community and $MINTY token holders benefit from our value-centric ecosystem. 

Minterest redistributes the maximum value from the protocol back to users and $MINTY token holders. As a result, Minterest is effectively able to offer improved lending and borrowing interest rates that are sustainable.

Minterest partners with API3 to  unlock mETH and mUSD

By integrating API3’s data services, Minterest can offer a broader range of tokens and cryptocurrencies, including the long-awaited lending and borrowing features for Mantle’s LSP. 

This integration enables Minterest to launch the mETH and mUSD markets for lending and borrowing. This collaboration will spark a high APY generation event for Minterest, presenting an attractive opportunity for liquidity providers.

Minterest’s collaboration with API3 is central to the protocol’s growth strategy and marks a crucial step in its roadmap to broaden cross-chain interactions, minimize liquidity fragmentation, and usher in a new wave of accessibility for DeFi users.

What’s next for Minterest?

The partnership between Minterest and API3 revolutionizes DeFi by combining API3’s data expertise with Minterest’s lending innovations, creating a more integrated, efficient, and user-centric platform. 

Opening Minterest to mETH and mUSD markets is a huge milestone in our roadmap, and the API3 integration will continue to bridge our protocol to the most lucrative opportunities for users. 
Celebrate the announcement on Twitter and join the community for upcoming updates.

To celebrate Minterest’s launch on the Mantle Network, we participated in the Mantle ‘Moonshot campaign,’ an ongoing task-based campaign that rewards users for completing on-chain and off-chain tasks on Galxe. 

A prize pool of 66,000 MINTY and additional rewards were up for grabs to participants who completed the tasks, such as setting up a Galxe account, minting a Mantle Soulbound NFT, and completing quests!

The campaign was an overwhelming success:

• $2.7M in total value locked (TVL) on Minterest.
• 7,000+ On-Chain Suppliers
• 4,874 Galxe users interacting with Minterest 
• Minterest entered the Top 10 on Mantle Network by Users

Following this remarkable success, let’s delve deeper into the strategic elements and collaborations that propelled Minterest’s Moonshot campaign, starting with its partnership with Mantle, the insights from a recent AMA session, and a recap of the campaign stats.

Minterest and Mantle: A Strategic Partnership

Minterest’s collaboration with Mantle is central to the protocol’s growth strategy and marks a crucial step in its roadmap to broaden cross-chain interactions, minimise liquidity fragmentation, and usher in a new wave of accessibility for DeFi users. 

Mantle stands out as one of the industry-leading L2 solutions due to a range of features:

• Optimistic Rollups: Accelerates transactions and slashes fees, enhancing the efficiency of DeFi lending and borrowing for Minterest users.
• EVM Compatible L2: Ensures seamless access to the Minterest platform using familiar tools while inheriting the robust security of Ethereum’s base layer.
• Liquidity Boost: More liquidity on Minterest’s platform post-integration means improved lending and borrowing rates.
• Enhanced Network Capacity: Mantle’s capability to handle high transaction volumes supports Minterest’s scalability.
• Interoperability: The integration aligns with Minterest’s strategy to bridge DeFi liquidity gaps across multiple blockchains.

Leveraging Mantle’s efficient transaction processing and modular architecture has enhanced Minterest’s offerings in DeFi lending and borrowing.

Minterest launches on Mantle at quite the opportune time, taking advantage of a recent climb in total value locked (TVL) or the dollar value of all assets on the Mantle Network. TVL is an important metric for a lending protocol like Minterest because as the money on Mantle grows, it will continue to look for more opportunities to earn yield. Mantle Network TVL is pictured below:

Minterest, with its MINTY token, is the only lending protocol to return 100% of protocol fees to users, meaning the yields you can earn on Minterest are high and sustainable. As the TVL in Minterest grows, it creates a flywheel effect, increasing MINTY’s price and returning more fees to users!

Galxe Users, TVL, and Minterest App

The Galxe campaign was a resounding success, with total users crossing 4,800 as the final day of the Mantle Moonshot campaign commenced. All these users have contributed to the impressive TVL statistic of $2.7M by the end of the campaign (viewable on the app) and enjoyed MINTY and MNT rewards. You can see a live update of the yields that are being paid to suppliers on the home page of the Minterest app, pictured below:

Thanks to our Galxe quest, users were encouraged to turn on “Governance Rewards,” which auto-compounds earned MINTY into more staked MINTY. In this audio clip, you can learn about the MINTY flywheel and how protocol fees are redirected to MINTY buybacks from Minterest CEO, Kyn Chaturvedi.

Mantle x Minterest x iZUMi Finance AMA

During the Moonshot campaign, Kyn (CEO of Minterest) had the chance to catch up with the Mantle and iZUMi teams for an AMA session. Topics covered strategic partnerships, the introduction of innovative protocols, plans for cross-chain liquidity development, and a focus on community feedback and transparent evolution. 

Here’s a recap in case you missed it:

• Minterest’s Confidence in Mantle: Minterest selected Mantle from over 30 L1s and L2s for its openness to innovative growth strategies, highlighting a mutual commitment to long-term viability.
• Innovative Moonshot Protocols: The campaign’s eight protocols, including the Citizens of Mantle NFT upgrade, were discussed, emphasising Minterest’s approach to dynamic user engagement.
• Earning Yield Through Mantle Moonshot: The AMA addressed how Minterest retains users post-campaign with over 25% yield offerings, illustrating its user-centric approach.
• Building a Cross-Chain Liquidity Pool: Collaboration with Layer Zero and Stargate to enable cross-chain lending and borrowing was a focal point, indicating a step towards a more interconnected DeFi ecosystem.
• 2024 Growth Protocol and User Base Expansion: Minterest’s future direction, including exploring NFTs and token governance, was outlined.

ByBit x Minterest x Mantle x iZUMi Finance AMA

Minterest also participated in an exclusive X Space with ByBit and provided some alpha on Minterest’s upcoming roadmap on Mantle Network. 

Key points in this recap:

• Minterest’ Purpose of Participating in the Moonshot: DeFi Lending is largely new to most Web3 users. The Moonshot campaign provided a platform to educate the community about the value of lending and how simple it is. 
• Minterest’s Goal to Drive Liquidity to Mantle Network: Minterest’s direction is a multi-chain one allowing users to lend on one chain and borrow on another. Minterest seeks to support liquidity growth on Mantle Network by allowing it to tap into other networks that Minterest plans to deploy to in the future. 
• mUSD & mETH Coming Soon: Mantle Network native interest-bearing assets mUSD and mETH are arriving soon to Minterest!

Wrapping Up

Minterest’s Mantle launch and Moonshot campaign have led to substantial protocol growth and have helped position it as a pioneering force in the DeFi lending and borrowing sector. 

With a focus on strategic partnerships, technological advancements, and community-centric growth, 2024 is set to be a big year for the $MINTY community. 

For the latest news and updates, visit the blog, and don’t forget to join Minterest and Mantle Network on social media and our community channels to connect and discuss!

To celebrate the Minteret Mantle Moonshot launch, a prize pool of 66,000 MINTY and additional rewards are up for grabs!

To participate, you must tick off a few simple tasks, such as setting up a Galxe account, minting a Mantle Soulbound NFT, and completing Minterest’s Galxe quests. 

Let’s look at what you need to get started and how to earn your prize share.

Mint Your Mantle Journey Soulbound Token

The Soulbound NFT gives you access to a unique Mantle identity. It’s an open-access and performance-based program designed to reward users. Mantle Journey indexes your activities and interactions on Mantle Network, both on-chain and off-chain and converts them into journey miles. Your Mantle Journey (MJ) Miles will unlock numerous benefits in the Mantle Ecosystem.

To mint the NFT, navigate to the Minterest x Mantle Galxe page and follow these steps.

• Connect your web3 wallet and select the Mantle blockchain.
• Click the Mint Mantle Journey Soulbound Token (MJSBT) link.
• Click the Mint MJSBT button and sign the transaction in your wallet. Please note that minting requires a small amount of $MNT to pay gas fees.  
• Once you’ve received your Soulbound NFT you can verify your social media account or accounts and customise your user profile.

You’re all set up and ready to start earning MJ Miles!

Journey mile points are awarded based on the completion of tasking. Simple tasks – such as executing transactions on Mantle – earn fewer points than more advanced tasks, such as participating in governance or interacting with verified protocols. 

A full list of MJ tasks and their associated points can be found on the Mantle Journey website.

Discord Verification

Now that you’ve minted your Soulbound NFT, you must verify yourself as a holder on the Mantle Discord channel. After accepting the Discord invite, complete the verification process by connecting the web3 wallet that your NFT is stored in.  

There are currently 89,557 verified Soulbound NFT holders, so you’ll be in good company!

Social Media Verification

Time to share what you’ve been up to!

Connect your Twitter (X) account and click the ‘Tweet’ button. A popup will open with a pre-configured post verifying your account and providing your GalxeID. 

Share the post, paste the link, and you’re good to go.

Minterest’s Galxe Quests

Congratulations, you’ve successfully completed the required tasks and are ready to start ticking off Minterest’s Galxe quests and earning rewards and yield!

Minterest has 8 Galxe tasks, ranging from social media engagement to governance participation and on-chain deposits. Here are some example tasks to get you started.

Social Media Engagement

To help provide its community with as much valuable information as possible, Minterest actively shares all protocol updates, announcements and key information on Twitter, Discord and Telegram.

By following Minterest on Twitter and liking and retweeting posts, you’ll stay up to date and tick off Galxe quests along the way!

You can see all the relevant posts to engage with here on the Galxe campaign page.

On-Chain Deposit

Deposits and borrows are now live on Minterest via the Mantle Network. Depositing into the wMNT market on Minterest is quick, easy, and a great way to earn high yields.

To access the site from Galxe, click on the “Detail” hyperlink pictured below for each on-chain task. This will take you directly to the Minterest application on Mantle.

• Click on the ‘Deposit in wMNT market’ link on Minterest’s Galxe quest page
• Select the wMNT market on the interface
• Click “Supply” in the top right-hand corner
• Confirm the amount you want to deposit
• See your deposit on the homepage UI

Here is a quick video guide on going through the lending process on Minterest.

That’s it; you’re now earning yield and have ticked off another Galxe quest!

Activating Governance Participation

Another quest on the Minterest list is to activate governance participation, which is as simple as toggling the slider when you deposit. Doing this makes you eligible to earn MINTY as a part of the buyback process. 

With Minterest, 100% of protocol fees are used to buy back MINTY on the market. By staking your MINTY, you can receive these buyback rewards, which means more MINTY!

The video below shows a simple guide to toggle and approve the transaction.

Minterest and FusionX are teaming up to bring you an innovative, advanced, efficient DeFi experience! 

This partnership is significant for lenders, borrowers, and DEX users, with both protocols bringing unique strengths to the table. Let’s take a look at what to expect.

FusionX: Revolutionising Trading on the Mantle Network

FusionX is a leading DEX within the Mantle Network. Recognised for its cost-effective transaction model, FusionX provides users with a platform for trading at significantly lower fees compared to traditional networks like Ethereum mainnet. 

This efficiency is a key factor in FusionX’s appeal, offering users a dual advantage of reduced costs and enhanced trading experiences, as well as complete decentralisation.

Minterest: Setting New Standards in Yield Generation

Minterest is a DeFi lending protocol that introduces several innovative features to the lending and borrowing sector, as well as a comprehensive multi-chain roadmap aimed at bridging the lending and borrowing gap. 

Its Buyback Engine sets a new DeFi standard by redistributing 100% of its fee value to users. The model used by Minterest ties the protocol’s success directly to its users’ benefits — as protocol TVL increases, users reap greater $MINTY rewards.

The Minterest Solvency Engine offers a comprehensive solution to the issue of insolvent loan liquidations. By placing a premium on precision, efficiency, and automated solutions, the engine minimises the risk of toxic debt and maximises the benefits for its users. 

A Partnership Poised to Transform DeFi

The partnership between Minterest and FusionX is a fusion of technical innovation and cost efficiency that is set to redefine user experience in the DeFi ecosystem. 

Minterest will integrate FusionX into its Solvency Engine pipeline to ensure the health of all Minterest protocol users while driving transaction volume to FusionX and increasing fees generated for its LPs. By merging Minterest’s exceptional yield-generation capabilities with FusionX’s efficient and decentralised trading environment, users will enjoy the benefits of high yields and low-cost decentralised transactions. 

Stay tuned for further development updates and to learn more about the opportunities this collaboration brings!

Join the Minterest and FusionX communities on Discord, Twitter and Telegram.

Crypto markets are inherently volatile, with daily pumps and dumps of over 10% – even across blue chip coins and tokens – commonplace.

This volatility and the associated risk have made stablecoins in DeFi increasingly important and attracted growing interest from retail and institutional investors.

However, as with any developing sector, problems arise, and industry leaders need to step up and offer practical solutions.

In this article, we explore the issues of retaining long-term capital in DeFi, the limitations of current stablecoin integrations, and how Minterest is taking advantage of the growing stablecoin market to benefit the $MINTY community.

Capital Retention Challenges in DeFi

Since its inception, the DeFi sector has faced significant challenges in attracting long-term investors and retaining their capital – especially during bear market phases.

These challenges became more pronounced through 2022 – 2023, as DeFi’s TVL decreased by 75%. While this was largely due to a string of adverse black swan events, such as the Terra crash and the bankruptcy of FTX and 3AC, many investors simply saw better opportunities outside DeFi. They moved their capital to more stable or risk-averse investments and said goodbye to the risks of DeFi.

The problem of rotating capital and a lack of sticky liquidity (investments that are held long-term) highlight the need for more safe and reliable DeFi investment options. 
Although stablecoins are well-positioned to solve this issue by offering stability and predictability, their integration into existing DeFi platforms has limitations.

The Current Limitations of Stablecoins in DeFi

One key issue is in generating substantial returns. Many platforms offer lower yields on stablecoin deposits, making them less attractive for long-term investors.

Another challenge is the user experience in DeFi platforms. The complexity of products is often daunting – especially for newcomers. The technicalities involved in lending, borrowing, and yield farming with stablecoins require a steep learning curve, deterring potential users from fully engaging with these platforms.

Lastly, there’s a question of trust and security. The DeFi space has witnessed its share of security breaches and failed projects, shaking investor confidence. Users are increasingly seeking platforms that not only offer the stability of stablecoins but also provide advanced security measures and transparent operations.

These challenges create a gap in the market – a need for a platform that can maximise the potential of stablecoins while offering an accessible, secure, and high-yield environment for both seasoned investors and new entrants.

Minterest: Revolutionising DeFi with Stablecoins

Minterest aims to be a game-changer in the lending and borrowing sector by redefining how stablecoins are used. It tackles the issues head-on, providing a platform that not only embraces the stability of stablecoins but also maximises their potential in a user-friendly environment.

Stablecoin Yield Gets Real

All lending positions on Minterest are met with additional yield in the form of $MINTY tokens – given as a reward for supplying liquidity to borrowers. Borrowers also receive $MINTY yield, which can help negate the costs associated with taking a borrowing position.

This attracts capital and retains it, providing an effective counter to the trend of mercenary capital, where investors move in and out for quick gains.

User-Friendly DeFi Experience

Understanding the complexities involved in DeFi, Minterest simplifies the experience. It offers a platform where new users can easily navigate stablecoin lending and borrowing across multiple blockchains and gauge the health of their position – all without the fear of unfair liquidations, thanks to the Solvency Engine. 

Minterest’s user-centric UI and UX is key to attracting and retaining a broader user base, bridging the gap between traditional and decentralised finance.

Security and Trust

In an environment where trust is paramount, Minterest prioritises security and transparency. 

Minterest has demonstrated a commitment to maintaining the highest security standards. The protocol has successfully completed seven audits to date by leading firms, including Trail of Bits, Hacken, and PeckShield.

With the most recent Zokyo audit scoring of 94/100 and a proactive stance on addressing findings, Minterest continues to solidify its position amongst the most reliable and trustworthy DeFi platforms.

Charting a Stable Future with Minterest

As the DeFi landscape evolves, the growing need for stable, low-risk assets like stablecoins is reshaping the lending and borrowing sector, offering a reliable alternative to the high volatility typically associated with cryptocurrencies.

By capitalising on this trend, Minterest is addressing the immediate needs of investors and setting a precedent for the future of DeFi. 

Its high-yield offerings on stablecoin investments present a compelling case for retail and institutional investors, distinguishing the platform from competitor products offering significantly lower returns.

The platform’s approach goes beyond providing attractive yields; it’s about building a sustainable and stable DeFi ecosystem. By incentivising long-term engagement and providing a haven during market fluctuations, Minterest is playing a crucial role in retaining capital within the DeFi space. All this will be done while helping the $MINTY community gain access to high yields and a user-friendly and trustworthy lending and borrowing experience.

To learn more about what Minterest is building and how you can get involved, check out the roadmap, join the $MINTY community on Twitter, and drop by the Telegram or Discord channel for a chat!

Are you new to Minterest and want to get up to speed quickly? Maybe you learned about Minterest from a friend, or you are a recent participant in the Mantle Moonshot campaign and want to learn everything.

You’re in the right place! Here’s the TL;DR on what Minterest is, why it is different, and why you should care. But first, here is the quick and dirty, Minterest 101 X thread.

Please Note: Minterest is live on Mainnet Ethereum in a Private Launch phase and scheduled to be deployed on Mantle in January 2024.

What is Minterest

Minterest is a decentralized lending platform that provides users with some of the highest sustainable returns on their assets while protecting them from predatory liquidations. 

We’ll get into exactly what that means in a moment, but the first thing you should know about Minterest is what it will look like to be a user. Minterest has a best-in-class app dashboard (currently live; check it out at https://app.minterest.com/) that shows your current positions, position health, and what you’re earning on your assets. Borrowers and Lenders both have the same UI.

The next important topic for depositors or lenders is Minterest’s Health Gauge. Like others, this mechanism helps keep track of position and protocol solvency. The real magic happens with the actual handling of the insolvent Minterest positions.

Solvency Engine

The Solvency Engine is arguably the most important piece to the Minterest ecosystem. With the user’s interests at heart, the protocol can attract the liquidity it needs to succeed. Minterest’s solvency engine solves exactly that. By creating and maintaining the solvency engine in-house, there is no need to incentivize third parties to liquidate a position. This is beneficial for two reasons

1. It prevents the predatory aspect of liquidations: Liquidators profit from the distressed positions of borrowers and often take far more than is required to get these positions back into a healthy state. The Solvency Engine’s sole focus is rescuing positions, not profiting from them.
2. Minterest redistributes any fees collected back to the protocol users, aligning incentives directly with liquidity providers. That’s right, 100% of fees are rewarded to $MINTY ecosystem participants.

A Cross-Chain Future

Minterest will tap into the $25B of currently fragmented liquidity, offering users a deep pool of liquidity to borrow irrespective of the chain.  Here’s how the cross-chain integrations with industry-leading builders LayerZero and Swing work. Our first non-Ethereum deployment will be on Mantle, a new optimistic Layer 2 that uses the first modular data availability solution.

Get ready for Mantle and Minterest to go live in January 2024!

MINTY Flywheel

Every protocol needs its kingmaker, and that’s the MINTY flywheel. With unique incentives around supplying and borrowing, Minterest incentivises users to stay on the platform, continue to collect their share of fees and build their stake, which invariably attracts new users. This is about building a self-sustaining ecosystem that allows Minterest to become an unstoppable liquidity train.

Security is Paramount

Security is one of our biggest concerns at Minterest hence we put the protocol through its paces through reputed and renowned auditors, including Trail of Bits, Peckshield, Hacken, and Zokyo.  That’s seven audits in total as of November 2023!

Minterest NFTs

Minterest NFTs give (app.minterest.com) is currently operating in a private launch phase on mainnet Ethereum, allowing select whitelist and Minterest NFT participants access to supply and borrow.

Minterest NFTs grant users bonus MINTY rewards; you can see the specific details for how the rewards work here.

But don’t let that stop you from looking around the app today and letting us know what you love AND what you would like to see improved. We’re going to be going LIVE on Mantle Network for their Moonshot campaign on January 4th, so get prepared by checking out the app today!

You can keep up to date with community activities, learn more about the protocol, and get questions answered in our Discord, Twitter, or documentation.

Have a #MINTYFRESH day!

In a milestone collaboration that heralds a new era of low fees, rapid transactions, and unprecedented yields for DeFi lending and borrowing, Minterest announces its planned strategic deployment on the Mantle Network.

A Leap Forward for DeFi Accessibility

Minterest’s deployment on the Mantle Network, an Ethereum Layer-2 modular blockchain, marks a crucial step in its roadmap to broaden cross-chain interactions, minimise liquidity fragmentation, and usher in a new wave of accessibility for DeFi users. This integration with Mantle Network’s innovative technology embodies Minterest’s commitment to consistently upgrade the user experience.

Innovative Technology at the Core

At the heart of this partnership is the Mantle Network. It utilises Optimistic rollups for efficient transaction processing, significantly boosting speeds and lowering costs while upholding Ethereum’s renowned security features. Mantle Network’s distinct ‘modular’ architecture, in contrast to the conventional ‘monolithic’ structure, enhances efficiency and scalability by separating transaction execution from data storage.

The integration also features the ultramodern Eigen Data Availability (EigenDA) technology, pioneered by EigenLayer. This innovative solution promises to escalate Ethereum’s data handling capabilities to new heights, potentially achieving speeds of up to 1TB per second. Mantle, through its Mantle DA solution, powered by EigenDA technology, is at the forefront of this data availability revolution.

Enriched User Experience With $MINTY x $MNT Integration

The synergy between Minterest and Mantle Network is poised to bring a plethora of benefits to users:

• Optimistic Rollups: Accelerates transactions and slashes fees, enhancing the efficiency of DeFi lending and borrowing for Minterest users.
• EVM Compatible L2: Ensures seamless access to the Minterest platform using familiar tools, while inheriting the robust security of Ethereum’s base layer.
• Liquidity Boost: More liquidity on Minterest’s platform post-integration means improved lending and borrowing rates.
• Enhanced Network Capacity: Mantle’s capability to handle high transaction volumes supports Minterest’s scalability.
• Interoperability: The integration aligns with Minterest’s strategy to bridge DeFi liquidity gaps across multiple blockchains.

Join the Movement

We’re excited to invite the community to be a part of this transformative journey. Get involved with the Mantle x Minterest Zealy Quests for a unique opportunity to earn $MINTY rewards.

Keep an eye out for upcoming announcements detailing how the $MINTY community can actively participate in and benefit from Minterest’s planned deployment onto Mantle Network. For the latest news and updates, make sure to visit the blog, and don’t forget to join Minterest and Mantle Network on social media and in our community channels to connect and discuss!

Stay connected, stay informed, and be a part of the change we’re creating together.

Dear Minterest Community,

‘Tis the season of giving, and here at Minterest, we’re thrilled to unwrap the festivities with our Jolly Minty Xmas Calendar Campaign! Starting this Monday, December 4th, join us daily on Telegram and Discord for a chance to win exciting prizes and spread the holiday cheer.

🦌 How it works

Every day, we’ll open a new window in our Christmas Calendar, revealing a festive question of the day. Get ready to showcase your DeFi knowledge and participate in the holiday fun!

🦌 Monday Magic

Each Monday, the Minterest team will reward the top performers of the week with Minterest NFTs. The more correct answers you accumulate throughout the week, the higher your chances of winning! In the spirit of generosity, if multiple participants ace all the week’s questions, the winner will be selected by the wheel of luck.

🦌 Why Minterest NFTs

Not just an interesting piece of art, Minterest NFTs will also give the holder higher yields! Don’t forget to check the Minterest NFTs.

🦌 How to Participate

1. Stay tuned to our Telegram and Discord channels every day
2. Open the daily Christmas Calendar window to reveal the question with us every day at noon UTC time
3. Answer the question in the respective channel or commenting on X using #JollyMintyXmas
4. Accumulate correct answers throughout the week to boost your chances of winning a Minterest NFT

🦌 Spread the Joy

Tag your fellow Minterest enthusiasts, invite them to join the fun, and let’s make this holiday season one to remember!

🦌 Campaign Dates

Monday, December 4th and will run through till December the 21st.

Get ready for a month filled with knowledge, festive fun, and cool prizes. The Minterest Jolly Minty Xmas Calendar Campaign is our way of saying thank you for being part of our incredible community.

Let the festivities begin here – https://minterest.com/xmas-calendar/

Warmest wishes,

The Minterest Team 

#JollyMintyXmas

It’s been a defining couple of years for the crypto lending and borrowing sector, marked by technical developments, an influx of retail and institutional capital, and TVL growth in the billions.

Centralised lenders such as Celsius Network and BlockFi were a major focus of the 2021-2022 cycle, with the allure of double or even triple-digit yields catching the attention of many investors. However, the downfall of these platforms caused things to come to an abrupt halt, leaving the industry to face a reality check.  

Fortunately, the future is looking bright: 2023 is a new year, and investor focus has shifted back to where it should be – DeFi!

Before we look at how decentralised solutions offer a more sustainable, risk-averse way to earn yield, let’s break down what caused these collapses and the things to avoid moving forward.

The Downfall of Centralised Lending

Centralised crypto lending, a once hyped financial frontier, faced significant setbacks over the past couple of years following the collapse of major platforms. 

Celsius Network: High Yields, High Risks

Celsius Network operated as a custodial asset manager, offering regulated loans and yield opportunities of over 20% APR. Users deposited coins and tokens like $BTC and $ETH, which Celsius then used for other investments and lending activities​​.

The downfall of Celsius Network began with its use of risky on-chain leverage and over-exposure to volatile markets.

Millions of dollars of Celsius funds and customer deposits were held on the Terra Blockchain. When Terra’s token, $LUNA, collapsed and its algorithmic stablecoin, terraUST, de-pegged, this resulted in a massive devaluation of Celcius’ assets. 

In June 2022, the company froze withdrawals, swaps, and transfers, citing “extreme market conditions“. 

This situation, compounded by layoffs and a lawsuit alleging market manipulation, led to Celsius filing for Chapter 11 bankruptcy in July 2022, revealing a $1.3 billion hole in its balance sheet.​

BlockFi: Mismanagement Meets Volatility

BlockFi’s model revolved around interest-earning accounts and crypto-backed loans. It allowed users to earn interest on their crypto holdings or borrow USD against their deposited assets. 

The platform promised ~10% annual earnings on deposits and offered loans with a maximum initial Loan-To-Value (LTV) ratio of 50%.

BlockFi’s collapse was primarily driven by mismanagement and exposure to market risks. The company’s downfall was accelerated by the fall of crypto exchange FTX and its sister trading firm, Alameda Research. The company had significant exposure to these firms, totalling around $1.2 billion, and filed for bankruptcy in November 2022. 

While legal efforts to return customer assets from bankrupt firms such as FTX, Alameda, and Three Arrow Capital have been initiated, recoveries and timeframes remain uncertain.

Implications for the Crypto Lending and Borrowing Sector

These cases highlight the risks of centralised crypto lending: overreliance on market stability, counterparty risk, and a lack of transparency. 

This also underlines the importance of risk management and operational transparency in the lending and borrowing sector – transparency offered by decentralised alternatives.

The Advantages of Decentralisation

Decentralised lending and borrowing platforms offer distinct advantages that address the shortcomings of centralised counterparts, like Celsius and BlockFi.

DeFi’s core benefits lie in its inherent design and operational framework:

1. Transparency and Trust: Decentralised protocols offer transparent, immutable transactions, enabling users to easily track their funds and understand how they’re being used.
2. Self-Custody and User Control: Web3 wallets and their self-custodial design allow users to maintain total control over their assets, reducing counterparty risk and placing ownership and responsibility directly in the hands of the user.
3. Programmable and Auditable: Automation through smart contracts enhances efficiency and reduces human error. When using a new protocol, ensure its smart contracts are audited and comprehensively tested by reputable firms and a trusted community of users (Minterest just completed its 7th audit by Zokyo.)
4. Market Accessibility: DeFi lending and borrowing platforms offer a more inclusive model, opening the door to a broader range of participants from varied financial backgrounds.
5. Built for Stability and Security: By not taking on debt or engaging in high-risk investment strategies, DeFi lending and borrowing protocols aren’t prone to bankruptcy and cannot misuse customer deposits. This approach, combined with over-collateralisation and algorithm-driven interest rates, ensures solvency even during periods of extreme market volatility.

Minterest: A Leading Solution in DeFi Lending and Borrowing

Minterest is innovating and advancing DeFi lending and borrowing by offering users a platform with high yields, unparalleled smart contract security, and advanced protocol features. Let’s take a look at how it works and the benefits it offers users.

Real Yield Model

Unlike the often misleading high-yield promises of centralised platforms, Minterest offers a sustainable yield generation strategy.

The model redistributes 100% of protocol fees to users. This incentives strategy challenges the cycle of rotating and mercenary capital and growing protocol TVL over the long term.

Buyback Mechanism

At Minterest’s core is the Buyback Mechanism, which transforms fee value into $MINTY tokens for governance participants. 

The system dynamically adjusts the distribution based on each user’s contribution, enhancing rewards through loyalty bonuses and compounding future rewards.

Solvency Engine

Minterest’s Solvency Engine offers an innovative approach to liquidations. The engine continually monitors all borrowers for solvency using real-time on-chain price data, ensuring that liquidations are neither excessive nor repetitive. 

This eliminates the need for substantial discounts to lure third-party liquidators and creates a cost-effective process that aligns with the interests of the protocol and its users.

Cross-Chain Integrations

Minterest’s integration with Swing and LayerZero brings a new era of multi-chain lending and borrowing. 

Swing’s bridge aggregator provides a unified interface for optimal cross-chain transactions, while LayerZero’s omnichain protocol connects with any blockchain, ensuring versatility and long-lasting utility. 
These integrations will be available in Phase 3 of Minterest’s Roadmap.

Comprehensive Security Audits

Minterest’s commitment to security is evident through its comprehensive and ongoing auditing process – recently passing a fourth audit with Zokyo.

The Future of Crypto Lending and Borrowing

Crypto lending and borrowing is undergoing a transformative shift. The downfall of major centralised platforms and the loss of billions of dollars have laid bare the risks and limitations of CeFi models. 

Decentralised alternatives offer transparency, user autonomy, and operational resilience. Minterest builds upon this with features like buybacks, real yield and cross-chain integrations. 

The end goal is to offer not just a quick-fix solution to centralised models, but to build DeFi’s highest-yielding, most secure, and user-centric lending and borrowing protocol.

To learn more about what Minterest is building and how you can get involved, check out the roadmap, join the $MINTY community on Twitter, and drop by the Telegram or Discord channel for a chat!

Lending and borrowing platforms have long grappled with the challenge of setting interest rates that are fair and responsive to market dynamics. 

Static models — systems where interest rates are set for fixed periods regardless of market changes — fail to reflect real-time supply and demand. This leads to inefficiencies, as rates often don’t match the current market conditions. 

To combat these inefficiencies, Minterest utilises a dynamic interest rate model that directly aligns with market activity.

The Problem With Static Models

The static interest rate model employed by some lending and borrowing protocols maintain fixed rates over predetermined periods.

Consequently, borrowers face higher costs during periods of low demand, while lenders miss out on higher returns during times of high demand.

Consider a scenario where the market suddenly shifts — perhaps due to a significant price movement or a global economic event.

Impact on Lenders:

When there’s a surge in borrowing or a sudden market spike, lenders miss out on potential earnings and do not receive returns in line with the increased demand and risk during this period.

Impact on Borrowers:

When the market experiences a downturn, static models fail to reduce interest rates. This results in borrowers paying higher rates than what would be fair in the current market context. 

These issues highlight the necessity for systems that can recalibrate interest rates quickly, ensuring synchronisation with the current market supply and demand.

Minterest’s Dynamic Model

At the heart of Minterest’s dynamic lending model is the Utilisation Ratio—a live metric that calculates the percentage of funds currently borrowed compared to the total funds available for lending. This ratio is crucial in determining interest rates, serving as an indicator of market demand and supply.

The foundational logic of Minterest’s rate model draws inspiration from the Compound codebase, a well-established protocol in the DeFi lending and borrowing space. This adoption ensures a tried-and-tested approach to interest rate adjustments.

For a more thorough breakdown of the intricacies of dynamic lending and borrowing, refer to Minterest’s Technical Whitepaper.

The interest rate is dynamically adjusted through an algorithm that responds to lending and borrowing transactions. In active market conditions, Minterest’s interest rates may undergo frequent updates, driven by the volume of lending and borrowing transactions. However, it’s important to note that these updates are not instantaneous and may take some time to be reflected.

When there’s a shift in the market—such as a sudden increase in deposit volume—the Utilisation Ratio decreases, indicating an excess of liquidity. Minterest’s protocol detects this change and automatically lowers interest rates to encourage borrowing.

Conversely, if the market experiences a surge in borrowing, the Utilisation Ratio increases. Minterest’s system reacts by raising the interest rates to attract more liquidity, ensuring lenders are adequately rewarded for their risk during high-demand phases. 

Minterest’s dynamic interest rate model and its underlying technology translate into direct benefits for users.

Minterest’s Dynamic Model in Action

Dan, a user on Minterest, has lent 10 $ETH and is looking to borrow $USDC. Initially, the total $ETH available for lending on the platform is 100, with 20 already borrowed. This sets the Utilisation Ratio at 20%, and the interest rate for borrowing $USDC is 0.84%.

Market Change: A Bullish Report

A bullish market report triggers an increase in borrowing. The total $ETH borrowed jumps to 50, pushing the Utilisation Ratio to 50%. Minterest’s dynamic model responds by adjusting the interest rate for borrowing $USDC to 2.1%.

Impact on Dan: Balancing Lender and Borrower Benefits

As a lender, Dan benefits from the increased interest rates due to the higher borrowing demand, enhancing his returns on the lent $ETH. This responsiveness to market demand ensures that his assets are not only productive but also that his returns are aligned with market conditions.

However, as a borrower of $USDC, he now faces a higher interest rate, reflecting the heightened market activity. 

Despite this, the real-time adjustments to interest rates mean that Dan is not subject to static rates that may be out of sync with the market. He can access loans at fair rates that reflect current market liquidity, potentially lowering borrowing costs during periods of high liquidity.

Please Note: This is a hypothetical scenario used for example purposes only. 

The balance Minterest maintains between borrower demand and lender supply contributes to a stable DeFi environment. This stability attracts more users, which can lead to an increase in the platform’s TVL, creating a positive feedback loop that benefits all participants.

Wrapping Up

Minterest’s dynamic interest rate model and automated risk management protocols are designed to directly address the needs of borrowers and lenders in the DeFi space. It’s a model that doesn’t just react to the market—it moves with it, ensuring that borrowers and lenders are always engaged in a fair and balanced financial ecosystem.

Borrowers benefit from rates that reflect market liquidity, potentially reducing costs when liquidity is high. Lenders gain from increased returns aligned with market demand, ensuring their assets work effectively for them. 

The system’s automated adjustments to collateral and liquidation thresholds help maintain a stable lending environment, mitigating the risks associated with market volatility. 

Through these mechanisms, Minterest aims to provide a lending and borrowing platform that is not only efficient and competitive but also secure and user-centric.

To learn more about how Minterest is improving DeFi lending and borrowing, check out some recent articles, follow Minterest on Twitter, and drop by the Telegram or Discord channel for a chat!

Minterest is setting a new standard in DeFi lending and borrowing by redistributing 100% of its fee value to users! 

The model used by Minterest ties the protocol’s success directly to its users’ benefits — as protocol TVL increases, users reap greater rewards.

At the core of this process lies Minterest’s Buyback system, which is designed to ensure an equitable distribution of rewards.

What is the Buyback System?

The Buyback system functions by converting fee value into $MINTY, Minterest’s governance token, which is then awarded to users participating in governance. This design enables Minterest to offer unparalleled utility, directly benefiting the protocol’s primary value creators.

This article delves into the Buyback system and explores how $MINTY token holders can engage with it. The focus is on understanding the process, from staking $MINTY tokens to receiving rewards, and how this system aligns with the overall financial performance of the protocol.

Participating in the Buyback System

The Buyback system is inclusive, catering to a diverse range of users: 

1. Early Supporters: Institutional investors and early participants have their tokens staked following specific unlock schedules.

2. Liquidity Providers: Users earning emission rewards from supplying liquidity and borrowing can opt to auto-stake their rewards.

3. HODLers: Post-launch in Q1 2024, $MINTY holders can manually stake their tokens on the Minterest platform.

Operational Mechanisms

Once users stake $MINTY tokens, they become eligible for a portion of the distributed rewards. 

To oversee this process, Minterest has integrated a smart contract, the Dripper contract, which is responsible for transferring $MINTY to the Buyback contract. 

Once transferred, these tokens are allocated to participants based on their $MINTY stake and loyalty bonuses.

Note: Loyalty bonuses will be covered in a future article.

The Dripper Contract and Periodic Distribution

As mentioned, the Dripper contract plays a crucial role in determining the amount of $MINTY to be distributed.

At the commencement of each ‘period’, it calculates the available $MINTY and sets an hourly distribution rate. An off-chain worker is then activated periodically to call the drip() function and ensure consistent distribution. 

Note: Minterest defines a period as a length of time that the current set of $MINTY rewards will be distributed over. These rewards are based on the income accumulated by the protocol during the previous period.

Users can manually refresh their share to include newly earned $MINTY.  On Ethereum, the Buyback rewards earned by a user go through the Delay logic.

Dripper and periods

The Dripper contract adheres to the formula, with rewards distributed at the end of each period:

R = X*Y

• Amount of fees accumulated in a period = X 
• A predetermined percentage of this amount is allocated for distribution in the next period = Y
• The drip amount is determined using the formula: A=D∗(R/H), where A is the $MINTY amount sent to the Buyback contract, D is the number of hourly portions, and H is the number of hours in the period.

Example: The starting setup is 30 days, ending on October 1st. On September 15th, the period length is adjusted to 60 days. 

The $MINTY stash is 100 tokens with an 80% distribution rate (Y). On October 1st, a new period is initiated with 80 tokens to be distributed over 60 days at a rate of 0.055 tokens per hour.

Buyback Calculations Details

Rewards within the Buyback system reflect each account’s weighted contribution, considering vested $MINTY, unclaimed rewards, and additional stakes.

For instance, an account with a combined weight of 15 units (from vested and emission rewards) stakes an additional 5 MINTY, increasing their weight and share in the reward pool.

Loyalty bonuses further enhance the weight, amplifying the user’s rewards. The system updates each user’s Buyback weight with every Minterest interaction, such as staking new $MINTY rewards, thereby compounding future rewards.

Consider a 25% loyalty bonus on a 20-unit weight. This would boost the total weight and the user’s share of rewards to 25 units.

Desclamer: The Buyback weight continues to update every time the user performs an operation on Minterest (i.e. supplying).

New $MINTY rewards are staked, updating the Buyback weight of the user, and compounding rewards as the next distribution of rewards from the Buyback incorporates the updated weight.

Distribution Dynamics

The distribution of rewards is determined through a lazy indexing mechanism, used to track $MINTY accumulation per unit of weight. 

The reward for each user is calculated by multiplying the delta (the change in index state since the last interaction) by the user’s weight.

Wrapping Up

Minterest’s Buyback system, a central feature of its reward distribution strategy, stands out in the DeFi space by prioritising user incentives over protocol benefits. It combines user participation with calculated rewards based on the protocol’s performance. 

By factoring in loyalty bonuses and a transparent distribution methodology, the system ensures a fair and dynamic allocation of earnings, aligning the benefits of the protocol’s growth with its user base.

To learn more about how Minterest is improving DeFi lending and borrowing, check out some recent articles, follow Minterest on Twitter, and drop by the Telegram or Discord channel for a chat!

Minterest’s Zealy campaign is here, and it’s your golden ticket into the $MINTY ecosystem! To get started, join Minterest’s Zealy questboard to start earning points and unlocking new quests!

Whether you’re new to DeFi or a lending & borrowing veteran, there’s something for everyone. Through a series of quests, you can earn rewards, such as $MINTY tokens and NFTs.

To encourage active participation and ongoing education, you’re required to successfully complete the quests in the preceding tiers. This incentives model is designed by Minterest to reward consistency and progression. 

For example, incentives may be minimal for users who complete beginner level quests. However, as you progress and deepen your understanding of Minterest’s ecosystem, you’ll earn more substantial XP, additional tokens or NFTs, and even be given the opportunity to help influence the platform’s future direction as an ‘OG Mintreprenuer’.

Let’s take a quick tour of The Quest Map!

Tier 0: Base Camp

The journey kicks off at Base Camp. 

There are no prerequisites, just simple quests and a straightforward way to accumulate XP, level up, and earn rewards. 

By completing tasks like following Minterest on Twitter and joining the Discord and Telegram channels, you’ll earn your first 100 XP and unlock the next questline.

Tier 1: Explorer’s Trail

The Explorer’s Trail is where the adventure begins! 

These dynamic quests are regularly updated to keep things interesting and the XP stacking up. 

From sharing Minterest blog posts and announcements to participating in community polls, there’s always an opportunity to earn points while staying updated on what’s happening in the $MINTY universe!

Tier 2: Scholar’s Pathway

The Scholar’s Pathway takes things up a notch. 

This is where you can showcase your Minterest knowledge through quizzes based on our latest blogs.

Quests to Expect:

Tier 3:  Pioneers’ Peak

Pioneers’ Peak is the pinnacle of your $MINTY quest!

This is where you transition from being a member, to a leader. These quests are designed to involve you directly in the Minterest ecosystem, from joining community calls to making transactions on the Minterest platform.

Quests to Expect:

• Join a Community Call: Attend a Minterest community call and enter the secret password shared during the call. Your chance to directly engage with the team and community!
• Make Your MINTY NFT Your PFP: Show off your $MINTY pride by making your Minterest NFT your Twitter profile picture. If you don’t have one yet, fear not! You can also win one in the quest earning you a massive APY boost too! 
• Supply an Asset: Transition from observer to active participant by supplying an asset into the Minterest platform. 
• Borrow an Asset: Need to borrow an asset? Do it through Minterest and bank some XP.
• Share Your Positions: Whether you’re borrowing or lending on Minterest, share your positions on Twitter—each share earns XP and offers a great way to showcase your personal journey and insights.

By completing the Pioneers’ Peak quests, you’ll have the opportunity to earn substantial  $MINTY tokens, as well as exclusive NFTs that grant you Whitelist Access. Each completed quest earns you 300 XP and a hands-on experience with the platform!

Your Next Move

Minterest’s Zealy quests offer a multi-tiered expedition through $MINTY universe. From initial exploration to active participation and influence—each quest is a stepping stone.

Along the way, earn XP, climb the leaderboard, and unlock exclusive perks and rewards like Whitelist NFTs and $MINTY tokens. 

Ready for the adventure? 

Earn your points on Minterest’s Zealy questboard today!

The ability to connect blockchains and help liquidity flow freely makes bridges and cross-chain solutions essential to DeFi. Over the past few years, the technology has evolved from basic bridging systems to sophisticated aggregators and omnichain protocols.

But with progress comes challenges. Several high-profile security breaches and hacks have underscored the sector’s vulnerabilities and emphasised the need for more secure and reliable solutions. 

By integrating state-of-the-art cross-chain solutions, Minterest proactively addresses these challenges and aims to provide a safer and more efficient multi-chain lending and borrowing platform.

In this article, we’ll delve into the evolution of cross-chain technology, the hurdles it has faced, and how Minterest is leveraging the latest advancements to stay ahead in the DeFi curve.

Bridging Vulnerabilities

Bridges serve as connectors between blockchains designed to facilitate the transfer of assets from one network to another. For example:

A user wants to move assets from Ethereum to BNB Chain. They lock their $ETH on the Ethereum network, and the bridge mints an equivalent amount of $ETH on the BNB Chain. This $ETH can then be used within the BNB Chain ecosystem.

Early iterations relied on simple mechanisms: lock assets on one chain and mint the equivalent value on a target chain using smart contracts. While technically effective, some of these designs lacked advanced security features, making them susceptible to hacks. 

One of the most notable bridge hacks in recent history was Axie Infinity’s Ronin Bridge, which was breached in March 2022. The attacker gained majority control of the validator nodes, stealing over 173,600 $ETH and 25.5 million $USDC—a combined value at the time of over $650 million. 

Modern Bridging: Enhanced Security and Efficiency

As the DeFi ecosystem has matured, the need for more secure and efficient bridging solutions has become increasingly evident. The latest generation of bridges and cross-chain solutions incorporate advanced features, distinguishing them from their predecessors:

• Cryptographically Signed Messages: Modern bridges use signed messages to instruct smart contracts on the destination chain.
• Multi-Sig Wallets: Multi-sig wallets sign off on deposits and withdrawals during bridging.
• Rollups: Solutions that bundle sidechain transactions into a single transaction and generate a cryptographic proof verified on the mainchain.
• Decentralized Relayers: A network of relayers, backed by collateral, ensures accurate cross-chain information transfer.
• Cryptographic Proofs: Techniques like zk-SNARKs and rollups validate transactions.
• Interoperability Protocols: Layer-0 protocols, like Polkadot’s relay chains, facilitate communication between different blockchains.

Introducing these technologies and many more marks a significant step forward in DeFi, ensuring safer and more reliable cross-chain interactions.

Bridge Aggregators: Introducing Swing

As the DeFi sector grows, navigating new technologies can challenge everyday users. 

Bridge aggregator Swing offers a unified interface to simplify this, scanning multiple bridges to find the best routes based on fees, speed, and liquidity.

Swing’s Benefits:

• Aggregation: Aggregates 60+ bridges and DEXs for optimal cross-chain transactions.
• Efficiency: Eliminates manual bridge searches, automatically finding the best path.
• User Experience: Intuitive interface for quick fee and transaction time comparisons.
• Security: Integrates only with trusted and audited bridges.

Swing aims to address the complexities of navigating multiple bridges by providing a more streamlined user experience.

LayerZero: Advancing Cross-Chain Communication

Beyond bridge aggregators, omnichain protocols like LayerZero offer a deeper level of integration with multiple blockchains, serving as a universal connector.

LayerZero Highlights:

• Omnichain Design: Connects with any blockchain, ensuring versatility and long-lasting utility as different blockchains emerge.
• Efficiency: Users can bypass traditional bridges, reducing fees and transaction times.

This approach allows for direct cross-chain interactions, sidestepping the need for several intermediaries.

Minterest’s Swing Integration

As Minterest continues to innovate, it’s integrating leading cross-chain protocols—Swing and LayerZero—to enhance its multi-chain lending and borrowing capabilities.

Minterest’s collaboration with Swing aims to streamline the user experience, eliminating the need for multiple intermediaries and allowing users to transfer assets between chains—all with the click of a button on the Minterest platform!

Let’s look at how the integration works and its benefits to LPs and borrowers.

Traditional Approach:

A user holding $USDC on Polygon wants to capitalise on a high-yield opportunity on Minterest’s Ethereum platform. Typically, they’d undergo multiple steps on an external platform to bridge their $USDC, involving several transactions and intermediaries.

With Minterest & Swing:

Disclaimer: The following is a hypothetical example for illustrative purposes only. Minterest does not have immediate plans to deploy on Polygon.

• • 1. User with $USDC on Polygon sees a lending opportunity on Minterest’s Ethereum.
• • 2. They open the Swing modal for bridging.
• • 3. The modal detects the $USDC on Polygon.
• • 4. With a few clicks, Swing bridges the $USDC to Ethereum.
• • 5. The user can now lend the $USDC on Ethereum.

Thanks to Swing, users enjoy a more streamlined lending and borrowing experience and can quickly capitalise on cross-chain opportunities with reduced steps and costs.

Minterest’s integration with LayerZero’s omnichain protocol offers a direct connection to multiple blockchains. This enables users to tap into opportunities on various chains without the need to move or convert assets. Essentially, users can earn yields on assets in their native form, sidestepping additional costs like bridge and swap fees.

Let’s take a look at an example scenario:

Disclaimer: The following is a hypothetical example for illustrative purposes only. Minterest does not have immediate plans to deploy on Arbitrum.

A DeFi user wants to earn yield on Arbitrum but is holding $WBTC on Ethereum.

Traditional Approach:

• • 1. Lend $WBTC on an Ethereum protocol to earn interest.
• • 2. Borrow $USDC against the $WBTC collateral.
• • 3. Transfer $USDC to Arbitrum using a bridge, incurring fees.
• • 4. Start yield farming with $USDC on Arbitrum.

With Minterest and LayerZero:

This will be available in Phase 3 of Minterest’s Roadmap

• • 1. Lend $WBTC on Minterest’s Ethereum platform.
• • 2. Directly borrow $USDC on Arbitrum via LayerZero, eliminating the bridge step.
• • 3. Begin yield farming with $USDC on Arbitrum.

By integrating LayerZero, Minterest allows users to skip the bridging phase, saving on fees and time. This efficient method lets them swiftly tap into cross-chain yield farming opportunities.

Wrapping Up

Cross-chain solutions have evolved from early direct connections with security issues to today’s sophisticated bridges, aggregators, and omnichain protocols.

Minterest’s Multi-Chain Strategy incorporates the advanced technology behind Swing and LayerZero to welcome a new era of multi-chain lending and borrowing. 

With Swing, users benefit from a unified interface that aggregates multiple bridges, simplifying cross-chain transfers and ensuring optimal routes for transactions. 

LayerZero’s omnichain protocol further streamlines multi-chain lending and borrowing, eliminating the hassles of intricate bridging processes. 

Together, these integrations allow users to effortlessly move assets across chains, reducing costs and broadening DeFi opportunities.

For a deeper dive into Minterest’s partnerships, upcoming developments, and Multi-Chain Strategy set to roll out in three stages over the upcoming year, explore the recent articles. Engage with the $MINTY community by following Minterest on Twitter, and don’t hesitate to join the conversation on Telegram or Discord!

Enhancing User Experience through Simplified, Secure Cross-Chain Lending.

Minterest is excited to announce its integration with industry-leading omnichain protocol LayerZero to lay a foundation for its recently announced Multi-Chain Strategy!

This strategy is part of Minterest’s long-term roadmap, which will run in 3 distinct phases. The LayerZero integration is part of phase 3: Unifying Liquidity, which will run from Q4 2023 – Q1 2025. 

By unlocking a high tier in user experience and tackling cross-chain complexities such as reliance on centralised exchanges and expensive bridging fees, this alliance unlocks a new level of simple, efficient and cost-effective lending and borrowing across multiple blockchains.

It also opens the door for Minterest’s LPs and borrowers to leverage a broader range of DeFi opportunities, as well as the potential for future protocol collaborations, such as cross-chain liquidations through native asset bridge Stargate.

Let’s take a look at how this integration addresses the challenges of multi-chain lending and borrowing and brings new opportunities to the $MINTY community.

The Challenges of Multi-Chain Lending & Borrowing

Navigating DeFi across multiple blockchains without the appropriate infrastructure presents distinct challenges. These could include costly and time-consuming transactions, the unnecessary use of third parties such as centralised exchanges, and the potential for technical mishaps like sending assets to the wrong chain—to name a few.

The Complexities of Multi-Chain Lending

Consider a user who wants to leverage a yield farming opportunity on Polygon using $MATIC tokens while holding $DAI on Ethereum.

Traditional Approach:

• Asset Migration: Swapping $DAI for $MATIC typically involves slippage and exchange fees.
• Bridging and Borrowing: Lending $DAI, borrowing $MATIC, and bridging it to Polygon incurs bridging fees and can be time-consuming (several days in some instances).
• Missed Opportunities: Delays in asset transfers due to the multiple steps involved might result in missed yield opportunities on Polygon.
• Cost vs. Benefit Dilemma: The associated costs can outweigh the gains.

Centralised Exchanges: A DeFi Contradiction

Without access to a direct, decentralised bridge, users often resort to centralised exchanges (CEX) for cross-chain transfers. 

This process typically involves transferring assets from a web3 wallet to a CEX and immediately withdrawing those assets to a different chain on the original web3 wallet. 

While this approach provides a workaround, it contradicts DeFi’s decentralised nature and introduces several issues:

• Security: Centralised platforms pose potential security threats due to a lack of self-custody.
• Operational Challenges: Multiple steps, such as withdrawals and deposits, complicate the process.
• Fees: Various transactions accrue fees, diminishing profitability.

These challenges underscore the need for a solution that simplifies cross-chain navigation, reduces costs, and enables swift capitalisation on DeFi opportunities.

Minterest Meets LayerZero

Minterest’s LayerZero integration introduces a solution to these challenges, enabling users to leverage opportunities on alternative chains without needing to relocate or convert their assets. 

For instance, users can lend assets and earn yields in their native form, avoiding intermediary costs like bridge and swap fees. It also mitigates risks associated with managing multiple wallets and tracking assets across chains.

Real-World Applications

This collaboration is part of phase 3 of Minterest’s multi-chain lending strategy. It extends beyond a technical upgrade, providing tangible benefits and practical applications for everyday DeFi users. 
Let’s take a look at an example scenario:

Disclaimer: The following is a hypothetical example for illustrative purposes only. Minterest does not have immediate plans to deploy on Arbitrum.

A DeFi user wants to leverage a yield farming opportunity on Arbitrum but is holding $WBTC on Ethereum.

Traditional Approach:

• • 1. Lend $WBTC: Lend $WBTC on an Ethereum-based lending protocol to earn interest.
• • 2. Borrow $USDC: Borrow $USDC against $WBTC collateral.
• • 3. Bridge $USDC to Arbitrum: Use a bridge to transfer $USDC from Ethereum to Arbitrum, incurring bridge fees.
• • 4. Engage in Yield Farming: The $USDC can now be used on Arbitrum for yield farming.

With Minterest and LayerZero:

• • 1. Lend $WBTC: Lend $WBTC on Minterest on Ethereum.
• • 2. Direct Borrowing on Arbitrum: Directly borrow $USDC on Arbitrum via LayerZero, bypassing the need to bridge assets.
• • 3. Engage in Yield Farming: Immediately utilise $USDC on Arbitrum.

This integration means that the user can bypass the bridging step, saving on fees and reducing the time and complexity involved in the process. The streamlined approach allows them to quickly and efficiently capitalise on the chain-chain yield farming opportunity.

Exploring Cross-Chain Liquidations

The Minterest team is also exploring the possibilities of integrating with protocols such as Stargate—the first fully composable native asset bridge built on LayerZero. 

Stargate supports unified liquidity pools and instant guaranteed finality, which could enhance Minteret’s capabilities by facilitating cross-chain liquidations. 

Though this prospect remains in the research stage, liquidations across various chains have the potential to greatly benefit the Minterest ecosystem by ensuring optimal capital utilisation and minimising user liquidation costs.

Summary

Minterest’s LayerZero integration simplifies the intricacies of multi-chain lending and borrowing and addresses common cross-chain challenges, such as high fees due to swaps, slippage and bridging expenses. 

This collaboration builds upon Minterest’s user experience and negates the need for multiple platform interactions and complex asset transfers. It also reduces costs by allowing users to bypass traditional bridges and to lend, borrow, and leverage DeFi opportunities across various chains—without needing to relocate or convert their assets.

Minterest is excited about future advancements and partnerships that will continue to elevate the user experience and expand opportunities within the DeFi space.
To learn more about the growing $MINTY ecosystem and how you can get involved, check out some recent articles, follow Minterest on Twitter, and drop by the Telegram or Discord channel for a chat!

Minterest is excited to announce its partnership with CUBE3.AI, a collaboration aimed at fortifying Minterest lending protocol and community against threats. This strategic partnership empowers Minterest to not only monitor and Inspect transactions in real-time, but once fully integrated, block malicious threats before they resolve on chain.

Through this integration, Minterest leverages cutting-edge machine learning algorithms that evaluate every blockchain transaction interaction with its contracts.  In addition to monitoring and detecting exploits, fraud and scams, CUBE3’s Runtime Application Self Protection (RASP) “Protect” product can block malicious transactions. Once CUBE3 RASP product is integrated, Minterest will enhance transaction security, increasing community sentiment and incentives for liquidity providers and borrowers.

Denis Romanovsky, CTO at Minterest, commented on the partnership:

“Minterest invests heavily in the security of its protocol. CUBE3.AI’s monitoring solution is a valuable addition to our security toolkit. It’s easy to set up, robust, and autonomous, providing real-time insights into potentially threatening transactions. We highly value the quality of services provided by CUBE3.AI and plan to deepen our partnership by integrating more of their security products.”

Stay tuned for updates and follow @Minterest and @cube3ai on Twitter for our upcoming Ask Me Anything (AMA) session.

For more information about CUBE3.AI, please visit their website to sign up for Detect and Manage for free or request a demo.

CUBE3.AI is the first-ever web3 real-time transaction security platform. Leveraging advanced machine learning, CUBE3 detects and blocks threats before they can be executed, guarding against cyber exploits, wallet hacks, fraud, vulnerabilities, and compliance risks.

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 MINTY to earn Governance Rewards which it never sells. Soaking up MINTY 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 MINTY 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 MINTY 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:

1. The allocation of NFT Rewards of 50% of Standard Rewards guarantees no one is ever disadvantaged by the presence of NFT holders.
2. 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 MINTY. 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 MINTY tokens, reducing on-market supply to spur even further demand for MINTY.

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.