There is one truth about the markets; they move in cycles of booms and busts. This spring and summer is not the first time crypto has been in a strong downtrend. And what has made this bear market so brutal is the global macroeconomic conditions that caused a liquidity crunch across all sectors. 

You might have heard about the recent insolvencies and bankruptcies of centralised lending institutions with billions of dollars under management, resulting in the freeze of customer withdrawals overnight.

• Celsius, a crypto lender with $20 billion worth of assets under management, was recently forced to freeze customer withdrawals. 

• BlockFi, one of the top 5 largest crypto lenders, was essentially bailed out by FTX with a deal that provided a $400M line of credit.

• Voyager filed for bankruptcy protection blaming a crypto market crash that caused it to freeze customer withdrawals. Just like Celsius and BlockFi, Voyager is also one of the largest crypto lenders with $5.9 billion in crypto assets at the time of its bankruptcy filing.

Voyager went one step further advertising blatantly that customers’ funds held by Voyager are FDIC insured. The FDIC issued a cease-and-desist statement to Voyager because of the false claims that its customers would have government protections.

However, those were the centralised finance institutions (CeFi) with no transparency on the usage of customer funds. They went silent, but DeFi is working 24×7.

Decentralised Finance worked well, and protocols like Aave, Compound, MakerDAO – all functioned flawlessly 24×7. DeFi allows customers to monitor the protocols on the blockchain. CeFi institutions rely on vague promises and false claims, with little to no transparency.

The collapse of the major CeFi institutions can largely be attributed to the fact that they did business with counterparties (the likes of 3AC) that went either insolvent or bankrupt. However, The troubled CeFi institutions were forced to pay back the outstanding loans on DeFi protocols first, as the rules were enforced by smart contracts that are fully transparent and don’t rely on counterparties for settlement.

Celsius was forced to pay down its $400M DeFi loans on Maker, Aave, and Compound to prevent its collateral from being liquidated. The over-collateralization in DeFi protects the solvency of the protocol and customers’ funds. 

These unfortunate series of events during Q2 2022 have proved that core pillars of DeFi, like lending and AMMs function as intended with foundations that are rock solid and fully transparent. 

DeFi is the financial backbone for the entire economic ecosystem built on blockchain, both for retail and institutions. DeFi lending protocols rely on over-collateralization with far better risk management to secure the lenders’ funds in case of an unforeseen scenario where chances of a default are higher. 

We see lending and borrowing in DeFi becoming the ultimate gateway to crypto for retail and institutions that are looking to grow their capital in a secure and sustainable way with full transparency. 

Bear markets are part of the market cycles. History tells us that bear markets drive innovation where the sidelined capital flows towards high quality projects that focus on long-term sustainability. At Minterest Labs, we started #BUIDLing in September 2020 and have achieved numerous technical milestones since then, including a highly sophisticated risk probability engine enabling users to mitigate their portfolio’s liquidation risk and significant improvements in the product design inspired by the elegant design of the Porsche 911 GT3 dashboard. We are now targeting an early Q4 2022 launch date with updated tokenomics.

DeFi will rise and shine because of the sheer nature of true decentralisation where you don’t need to trust a counterparty who is incentivized to twist the truth. The rules are enforced by smart contracts, providing visibility and transparency on every transaction that brings accountability.

Dear Minterest Supporters,

I want to provide insight into Minterest and its upcoming launch schedule. I appreciate the road to launch has not been smooth, despite in 2022 this being due to factors out of the team’s control. Irrespective of the circumstances, I do appreciate the frustration it likely causes, however the protocol is now firmly moving towards a public launch, with MNT then being generated following this.

Launch roadmap

The Minterest protocol is targeting an early Q4 launch date, and we will publish further detail on this, including updated tokenomics, well in advance. Minterest’s tokenomics update does require another security audit to be undertaken, and this is currently being scheduled. Given it is a dependency for public launch, once this audit is locked in, the launch roadmap will then be finalised and published. 

The token generation event (TGE), where MNT is created, and so MNT vesting in the protocol can begin, does need to occur following protocol launch. Such a stepwise process is required for technical, commercial, but also regulatory reasons so the timeframe for it will be announced closer to a future date as it is finalised. For those in Minterest’s community seeking a date for the MNT token’s TGE, it is simply not possible to confirm TGE until such requirements are fulfilled. The regulatory environment for DeFi lending protocols has changed markedly in 2022, and this now factors heavily not just in how Minterest rolls out but also in how this has been publicly communicated to its community.

Advanced feature set

Postponing launch has delivered upsides though, and quite substantial ones, namely in Minterest’s feature and design offering now being far more advanced than would have otherwise been possible. There is strategic reasoning as to why this has become significantly more important following the crypto sector’s crash, and I will cover this in a video to be uploaded shortly. Minterest is not simply another DeFi protocol, rather it is introducing feature innovation intended to be transformative for its users and much of this will now be included in the Q4 launch.

Portfolio probability risk

In addition to its auto-liquidation mechanisms, Minterest will now include a highly sophisticated risk probability engine, providing high value, live and accurate insight into the probability of a user’s loan portfolio being subject to liquidation. Development has occurred over the past year with Ph.D. backed experience in automated high frequency trading programs as used by investment banks. The ability for users to access such insights is unique in DeFi and extremely valuable in enabling users to mitigate their portfolio’s liquidation risk. User testing has confirmed it a feature highly sought after by DeFi users given its ability to mitigate what is a fundamental issue in portfolio management.

Liquidating liquidations

Post-launch, the team intends to propose a feature to Minterest governance which, if approved, will reduce the threat of liquidations for users. Offered as a protocol feature, user portfolios will be auto managed on their behalf to prevent impending liquidation events. Integrated with Minterest’s auto-liquidation mechanisms and portfolio probability risk engine, the advanced sophistication of this feature enables borrowers to maximise their positions knowing their liquidation risk is managed safely on their behalf.

Product design

Updated product design is currently in final stages, with the dashboard design unique to DeFi. It provides users detailed insight into their portfolio, enabling risk mitigation and yield maximisation at a level currently not available in the sector, and presents such data in an elegant, highly intuitive and simple to understand interface. Again, screenshots of this design will be provided to the community as it finalises. Its inspiration has been drawn from the dashboard of the current model Porsche 911 GT3!

NFTs

Minterest’s NFTs remain integral to its launch, with no variations to their function. With differences in DeFi interest rates between various protocols narrowing markedly since the crypto crash, we expect the advantage of NFT bonus emissions to be well sought after by larger users post launch.

Discord

As Minterest moves to launching, lots of more information will be coming your way, so please stay connected on Telegram but please also join Minterest’s Discord. Discord has numerous powerful and highly effective features which enables high value conversations to occur in ways Telegram is unable to, including multi-language channels with powerful language translation, so all Minterest’s various international communities are unified on one platform. Discord is now Minterest’s priority means of community communication with updates, AMAs and a host of other information, so we hope to see you there.

Thank you!

Minterest is delighted to announce the completion of its third security audit by PeckShield, an industry leading blockchain security company, serving global customers including the likes of Maker and Aave. 

PeckShield found no vulnerabilities of critical or high severity levels. There were 2 medium-severity vulnerabilities and 5 low-severity vulnerabilities found that got immediately fixed by the team. 

According to PeckShield, “The current code base is well structured and neatly organized. Those identified issues are promptly confirmed and addressed.”

---

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.

We can’t deny the volatile market conditions that rocked the crypto market recently. In all long-term market cycles, you will see booms and busts but eventually, companies with strong fundamentals and network effects survive and emerge stronger than ever.

To remind you about how far we’ve come, we have put together a #BUIDL week to showcase the great strides we have made and how we continue to create and deliver a best-in-class DeFi experience with long-term sustainable growth.

Why MNT is built for long-term sustainability

Minterest aims to deliver a product that will sustainably serve the market by delivering the highest long-term yield in DeFi. We achieve this by:   

• Leveraging the flywheel effect, where all the surplus generated by the protocol is used for the buyback process and then distributed back to the protocol participants.
• Auto-liquidations done by the protocol to capture liquidation fees. 
• The token emissions mechanism is designed to incentivise protocol participants which brings a higher degree of capital efficiency.

What have we achieved in Q1 2022

We started #BUIDLing nearly 20 months ago and have achieved numerous milestones since then. During the process, we learned that flexibility and adaptability are key attributes when it comes to delivering a great product. We listened to both our community and the market to gather important information and feedback to improve our product.

What Minterest accomplished in Q1 2022: 

• We successfully closed a Community Allocation Event (CAE) and a Liquidity Bootstrapping Pool (LBP) event. 

The CAE attracted over 20,000 subscribers in just the first week and the LBP event raised $5.52 million on Copper for the protocol treasury. 

The CAE and LBP events revealed a high level of support from both our community and institutions. 

• Launch on Ethereum.

Following the highly successful LBP, Minterest received significant market feedback expressing support for the proposition to prioritise Ethereum for its initial launch phase, with Moonbeam and other EVM-compatible networks coming later. 

If you want to learn more about why we chose Ethereum as our first blockchain, check out this article. 

• Two successful security audits.

Minterest views security as its top priority, which is why we have hired several top-level security companies to review our entire development process. We commissioned Trail of Bits and Hacken to ensure that our code meets the most stringent standards of code security.

Trail of Bits audited Minterest’s smart contracts across several categories for technical and economic review, namely:

• Access Controls 
• Auditing and Logging 
• Authentication 
• Configuration 
• Cryptography 
• Data Exposure 
• Data Validation
• Denial of Service 
• Error Reporting
• Patching 
• Session Management
• Testing
• Timing 
• Undefined Behaviour.

After initial feedback from Trail of Bits, Minterest implemented the fixes and mitigations they suggested, and the protocol was given a thumbs up. 

If you want to learn more about how Minterest fared in the audit, check out Trail of Bits’ audit report. 

Hacken security audit used the following methodologies, focused on smart contract code review and security analysis for commonly known vulnerabilities:

• Architecture Review
• Functional Testing
• Computer-Aided Verification
• Manual Review.

In the initial audit, security engineers found 2 high, 4 medium, and 4 low-severity issues. These issues were quickly resolved by the team during the second audit. The security score after the second audit was 10 out of 10.

If you want to learn more about how Minterest fared in the audit, check out the Hacken audit report.

• Minterest Beta launch.

The beta launch was split into two phases, namely:

1. Phase one – Internal access went live on 9th of May 2022. This first phase is only accessible to the internal team.
   
2. Phase two –  In phase 2, the protocol will be available with limited functionality to early-stage supporters. The dates for the second phase will be announced when all the testing has been completed.

The beta launch allows the protocol’s functionality to be technically and economically stress-tested in a safe environment before launching publicly. 

If you want to learn more about Minterest’s beta launch, check out this article.

Minterest Development: Behind The Scenes

Aside from the most significant milestones that we have achieved during Q1 2022, the Minterest development team has been busy optimising smart contracts and adding new functionalities to the protocol, while at the same time, improving the UI and UX to deliver a seamless customer experience. 

• Improvements in Smart Contracts

A new set of features were added to the smart contract; they were needed for the stable growth of the total value locked (TVL). One of those features is ‘Business Development’ which is meant to incentivise business developers to find and bring liquidity providers and reward them for participation in the protocol functions. 

We’ve built an extensive Gatekeeping module to keep the protocol safe, but still have it as decentralised as possible. 

We have also developed sophisticated NFT and Booster systems to track the reward boosting for our users.  We also completed the on-chain part of our liquidation engine. This piece of software is backed with extensive mathematical and modelling work which contains non-trivial logic, as automated liquidations have never been done before in DeFi.

• Minterest dashboard and risk assessment tools

We understand that users want to take leveraged loans without excessive liquidation risk.  

This is why we implemented features such as notifications, collateral ratio gauge, liquidation risk gauge, as well as the portfolio back-test risk analysis feature. 

• The production version of the Minterest UI

We tested on many target audiences and launched a production version of our UI. The application is not only loaded with data, but it’s also user-friendly, thanks to our Indexer – a special service that scrapes data from chains and displays it to the web pages of each user. 

• The successful architectural design of Guardians. 

We have designed the inner workings of several Guardians – the web services that will support the Minterest protocol. Some examples include the Liquidation Guardian for off-chain calculations of liquidation, and the Restaker Guardian that keeps users’ weight up-to-date in Buyback- to optimise their earnings. These services are not yet in development, but the architecture design and polishing of details are ongoing.

We Continue #BUIDLing

With the first quarter behind us, here’s what you can look forward to. We are focusing our efforts on UI and UX – i.e., new wallets, scrapping more data, showing more charts, sending messages through Telegram and emails, and building the Risk Management tool. We are also planning to build the Guardians, with the primary ones being the Liquidator and Restaker Guardians. Each Guardian is a big sub-project that involves developers, designers, mathematicians, and many other specialists in our team.

Closing Thoughts

With much of the groundwork being done, we are now close to delivering a product that we can all be immensely proud of. We are delighted to have reached this stage of development and we couldn’t have done it without the support of our amazing Minterest community.

Keep Calm and Carry on #BUIDLing.

Shortly after successfully completing our first smart contract security audit carried out by Trail of Bits, Minterest is delighted to announce the completion of a second security audit by Hacken, a leading security consulting company that focuses on blockchain security.

Why Security Matters

When making a decision to place your funds in a DeFi protocol, or for that matter, when you make any transaction that involves handing over your money to an institution or third party, security and safety of funds is one of the most important considerations. As the total value locked (TVL) within the DeFi sector climbs to all-time highs – with the latest peak surpassing $240 billion – the risk of potential exploitation is an increasing concern on DeFi protocols. In particular, code exploits are a common vector of attack, so smart contract security is front of mind for any Defi protocol.The industry has significantly stepped up measures to protect funds by employing more rigorous external and internal code audits and overall platform security processes.

Minterest views security as its top priority, which is why we have hired several top-level security companies to review our entire development process. We commissioned Trail of Bits and Hacken to ensure that our code meets the most stringent standards of code security.

What’s Inside the Hacken Report?

The smart contract security audit was performed with several methodologies in mind, namely:

• Architecture Review
• Functional Testing
• Computer-Aided
• Verification
• Manual Review.

Minterest scored a 10 out of 10 for both documentation and architecture quality. In the initial audit, security engineers found 2 high, 4 medium, and 4 low severity issues. These issues were quickly resolved by the team during the second audit. The security score after the second audit was 10 out of 10.

Here is a breakdown of issues found by the Hacken team pertaining to four different severity levels.

Critical

Security engineers found no critical issues whatsoever.

High

Insufficient vesting balance – The audit has shown that the “Vesting.sol” contract’s code validated that there are enough tokens only for every single vesting. However, there was no validation verifying that the contract balance was enough to fulfil all those vesting records. The contract did not guarantee that all users would receive their funds.

Status: Fixed

Unrestricted function access – The function “updateBorrowIndexesHistory” from the “EmmisionBooster.sol” contract could be called by anyone, which could lead to an undesired contract state.

Status: Fixed

Medium

Missing events emitting – “MemberAdded” events from the “Whitelist.sol” contract were not emitted in the constructor when new addresses were whitelisted. If there was some off-chain logic that depended on the “MemberAdded” event, it could have worked incorrectly.

Status: Fixed

Redundant modifiers – The contract “MToken.sol” has redundant “nonReentrant” modifiers. As soon as no external calls are performed, “nonReentrant” modifier is redundant.

Status: Acknowledged

TODO notices – The code contained a lot of ‘TODO’ notices. This could indicate that the code was not finalised.

Status: Fixed

Costly loops – The code in the contract “EmmisionBooster.sol” did not allow emission boost enabling for different markets in batches and processed everything in a single call. The function could fail if the number of the markets returned by “supervisor.getAllMarkets()” was big enough.

Status: Mitigated

Low

The contract can be declared as abstract – The contract “SupervisorV1Storage.sol” had some functions that should be implemented and never used separately.

Status: Fixed

Misleading naming – The function name “redeemAllowedInternal” in the contract “Supervisor.sol” said that it redeems something. However, it’s a simple view function used for validation purposes.

Status: Fixed

Redundant addition – Adding 30 seconds for the current timestamp in functions “swapTokensForExactTokens, swapExactTokensForTokens” in contract “DeadDrop.sol” is redundant because the swap will be performed during the same call and using “block.timestamp” as the deadline is enough.

Summary

Minterest cares about security, after passing the second security audit with no issues, we are pleased to be delivering a fully-operational platform that you can trust to securely hold your funds.

---

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.

The recent Senior Mintrepreneurs exclusive Discord channel launch generated some great questions, they were really insightful and relevant for the community. So much so, that we decided to make this week all about FAQs.

Join us for an informative and interesting Q&A event and get a chance to win Minterest NFTs, which grant you private launch access and a significant APY boost!

• Participate in Minterest’s FAQ Week activities, to win one of 3 Minterest Next Level NFTs

• All Minteresters can ask their protocol-related question on Twitter and win a Next Level Minterest NFT.

• Kyn Chaturvedi stars in Minterest’s AMA session this Friday. He will choose and announce the winners on Twitter Spaces to wrap up the FAQ Week.

General Chat Tweets

Can you help us to add new questions to our FAQs? Your valuable insights will help everyone understand Minterest a little better.

In return, Minteresters will have a chance to earn a Minterest Next Level NFT and join the private launch. The rules are simple:

• Head over to Twitter this Wednesday/Thursday
• Post your question (only one question per user) on Twitter. Make sure to use the #MINTERESTFAQ and #ASKKYN tags, so we can spot your questions and pick the winners
• Join us on Twitter Spaces this Friday to get the results. The best community question wins a Minterest Next Level NFT and gets a chance to be included in Minterest’s FAQ section

You can check the Minterest whitepaper and blog to generate your questions.

Twitter Spaces Friday

Minterest’s popular COO, Kyn Chaturvedi will be selecting the best questions from those left under the Twitter post. Winners will be announced during Twitter Spaces this Friday. The winners of the Next Level NFT will be chosen from:

• General Channel Tweets. The best question wins Minterest Next Level NFT
• SenMin Channel Activity. The best rephrasing of an answer from Friday’s SenMin Party wins Minterest Next Level NFT
• Live Q&A during the Twitter Spaces. The best live question wins Minterest Next Level NFT

All your questions have a chance to be officially listed in Minterest’s FAQ section.

Join us on Twitter Spaces this Friday and let the questions begin!

---

What is Minterest?

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.

Dear community, protecting the interests of users will always be an integral part of the Minterest protocol, so this post is a sneak preview of what’s to come once the protocol goes live. Here, we will discuss risk assessment tools that provide refined strategies in a convenient format to make lending/borrowing risks more transparent.

Risk Analysis: Why is it important?

One of the most significant risks when using any DeFi lending protocol is the risk of liquidation, which occurs when a loan becomes insufficiently collateralised, i.e., when a user’s collateral value falls below a given threshold. Liquidation is a highly unfavourable outcome for borrowers because their positions are reduced, resulting in losses. 

All loan positions in the Minterest protocol are over-collateralised, meaning that the collateral value is greater than the amount borrowed. If market movements result in an under-collateralised loan position, a users collateral gets liquidated to repay the loan in a critical situation. Such a situation occurs if the Collateral Ratio, which is the ratio between the borrowed loan amount and the supplied collateral, is greater than the allowed proportion for the user’s lent assets. 

Learn more about core protocol functions such as utilisation limit, utilisation ratio, and auto-liquidation in our whitepaper.

Liquidation is one of the significant risks of leverage in any position, at the time of borrowing. Due to the volatility of many cryptocurrencies, liquidations occur regularly in DeFi. 

That’s why the Minterest protocol offers risk analysis tools; they ensure users have more insight over their positions.

Risk Analysis Tools Walk-through

The Minterest Labs team is working to build the best lending/borrowing platform in the DeFi space. Part of this involves a Portfolio Dashboard to give users a clear overview of their positions on Minterest. Even though the dashboard has many attributes, we will focus on three main risk assessment features our users can access.

Feature #1: Notifications

Users want to make the most of a DeFi protocol, taking leveraged loans without excessive risk of being liquidated. The main reason behind any liquidation is a lack of sufficient collateral, which happens when users don’t pay enough attention to their collateral ratio. However, with notifications, users can more easily be aware of any changes in their risk profile due to market movements.

The Minterest notifications feature is designed to help users reduce the risk of being liquidated while also saving them time. In addition, notifications can remind users when they need to participate in protocol governance. Users can set notification alerts in two ways — via e-mail or Telegram. Custom notifications will let them stay ahead of the game whenever their attention is required. 

Imagine if a user set up a Liquidation Risk Alert and their risk on collateral changed significantly. Timely notification would allow them to increase their collateral ratio to avoid liquidation or take other reasonable steps to preserve capital.

Feature #2: Collateral Ratio Gauge

The Collateral Ratio Gauge feature is like a forward-looking radar that estimates the collateral ratio that will result if the user takes a lend or borrow action, before they take that action. For example, if a user wants to open a position but the challenge is that they don’t know how a new position will impact their portfolio. Instead of taking chances, they can use the collateral ratio gauge tool before making a decision. It will display how their collateral ratio may change depending on the position they want to open.

Feature #3: Liquidation Risk Gauge

The Liquidation Risk Gauge is another feature, it works like a forward-looking radar, an index estimating the probability that a user will have a liquidation event over the course of the next year. The Liquidation Risk Gauge is based on the user’s current portfolio, using the prior year’s market movement data for the assets utilised, to calculate the probability for a potential liquidation event in the user’s portfolio. The user can see this Risk Gauge before they take any lend or borrow action, helping them to “look forward” and anticipate how their portfolio could be impacted by typical market movements.

Feature #4: Portfolio Back-test Risk Analysis

Using a Portfolio Back-test methodology, Minterest users will also be able to see how their current portfolio would have fared through the market movements of the past year, giving a useful indication of how it might fare in the coming year, helping users to make solid and informed decisions. Historical back-test portfolio analysis is a unique feature not available elsewhere in DeFi.

Join our Twitter Spaces on Friday, Apr 22 with our CPO David Esser to learn more about our risk analysis tools.

---

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to participating platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and passes on liquidation surpluses to users.

Dear Minteresters, we are pleased to announce the results of Quiz #1 held from April 4 to 6.

A Quick Background

Minterest Labs revealed the exclusive Senior Mintrepreneurs Discord channel launch this week. Any community member can join the channel by scoring > 80% in all three quizzes we conduct. 

Looking for reasons to join the Senior Mintrepreneurs Club? Check out our detailed blog post to learn about all the benefits Minterest’s inner circle enjoys.

Quiz #1 Results

Quiz #1 was officially launched on April 4 and our community had a chance to participate until 10:00 PM UTC on April 6. 

The results are out! Please check your emails and Discord level. If you’re not on our Discord already, please join here. 

If you didn’t receive an email or a discord message, don’t get discouraged, these contests are just a stepping stone to help you learn more about the Minterest protocol. You can still take Quiz #2 and #3 to get special tags on the Minterest public Discord channel. 

If you missed the mark on this one, you’ll have the opportunity to enter many more in the future, including the upcoming Community Education Event. 

Next Steps Towards Becoming a Senior Mintrepreneur

We hope that you enjoyed participating! If you received an email, you’re officially 1/3 of your way to joining our exclusive Discord channel. Don’t forget to take Quiz #2 on Thursday and Quiz #3 next Monday, to get early access to Minterest merch, news, special events and NFT drops.

Dear Minteresters, we’re happy to announce that you can now join our exclusive Senior Mintrepreneurs Discord channel for a behind-the-scenes look at the project’s development, NFT drops and stay up to date with the latest news.

TL;DR 

• The exclusive Senior Mintrepreneurs Channel provides you with access to NFT drops, Minterest merch, channel member announcements and events.
• Complete Minterest quizzes on April 4, 7, and 13. Correctly answer 80% or more of the questions and complete all three quizzes to get the exclusive Senior Mintrepreneurs Channel invitation. 

What Is The Exclusive Senior Mintrepreneurs Channel?

The Exclusive Senior Mintrepreneurs Channel is a Discord channel for the most engaged, informed & dedicated community members.

Why Join The Exclusive Senior Mintrepreneurs Channel?

The Senior Mintrepreneurs Channel membership gives you:

• Access to Minterest merch
• Minterest APY boosting NFT drops
• Exclusive sneak peeks of what we’re working on
• First-hand news and events related to Minterest

How To Join The Exclusive Senior Mintrepreneurs Channel?

Minterest Ambassadors and Quizmeisters on Discord are automatically added to the Channel. If you haven’t participated in the Minterest DC quizzes yet, you may join the exclusive Senior Mintrepreneurs Channel this week by taking quizzes.

We have 3 upcoming quizzes on Minterest Protocol:

1. Join us on Monday, April 4
2. Join us on Thursday, April 7 
3. Join us on Wednesday, April 13

Join the quiz and answer questions to get the tag. The Tags are awarded to everyone who gets more than 80% of the questions correct.

More details about the tags and OG roles in the Minterest Discord channels will be shared later.

Who Can Access The Exclusive Senior Mintrepreneurs Channel?

You’ll be invited to the Senior Mintrepreneurs Discord Channel if:

We can’t wait to release all the big news, our fresh batch of merch and more with our Mintrepreneurs!

04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.

Thank you BuyNoEvil (Minterest ambassador) for giving us an initial idea for this blog post.

The Minterest protocol recently concluded a $5.52M LBP token allocation event on Copper. Although the event was mainly designed for large participant, smaller participants also suppored the LBP. This article will help you find answers to the most frequently asked questions related to the Minterest LBP token event.

This article will help you find answers to the most frequently asked questions related to the Minterest LBP token event. 

Where can I track my investment and NFT level?

You can use the Minterest LBP dashboard to track your investment and NFT level. You can connect your Metamask wallet on the dashboard to see how many MNT tokens you have, their total value, and your current NFT level.

Did I win a Next Level NFT during the LBP?

To check whether you have won an NFT, you can go to the Minterest LBP dashboardand connect your Metamask wallet. Your NFT level will be displayed under ‘Your Status’ window on the right hand side of the screen.

NFTs were allocated during the LBP event depending on how much each participant contributed. Your NFT level depends on your position relative to other LBP participants on the leaderboard.

When and where will I receive my NFT?

All the NFTs will be released after the TGE by the end of Q1 2022 during the private launch of the protocol. The Minterest NFT collection will also be tradeable on NFTrade, the upcoming multi-chain NFT marketplace on Moonbeam. More information about the Minterest and NFTrade collaboration can be found here.

AMA/Telegram/Discord/Twitter

If you win an NFT during an AMA or on social media, you will receive all further instructions on how to obtain your NFT. We will never ask you to transfer funds, nor will we ask you for private information such as your Metamask wallet password or seed phrase.

You can track the NFT Lottery winners here: Results of the Minterest NFT Lottery And Goodies Giveaway

LBP participation

If you won an NFT during the LBP, you don’t have to take any further actions. The NFT will automatically be transferred to your Metamask wallet on the Moonbeam network during the Token Generation Event in Q1 2022. 

When will the private launch of the Minterest Protocol take place?

Minterest protocol will be launched by the end of Q1 2022. The exact date will be announced a little later on our Twitter, Telegram, and Discord. 

Once again, we wish to thank and congratulate all CAE and LBP participants, supporters, and community members. We couldn’t have done this without you!
We are looking forward to what the future has in store for Minterest.

---

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users get protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.

04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.

Thank you BuyNoEvil (Minterest ambassador) for giving us an initial idea for this blog post.

Minterest had an extremely successful community allocation event, and we appreciate all the CAE participants and project supporters that made this possible.

This post aims to address all the frequently asked questions from the community and some of the uncertainties regarding what happens after the CAE, and what they can expect in the near future. 

How many MNT tokens will I receive?

All CAE participants were limited to deposits between $100 and $500, with Minterest guaranteeing them the lowest average LBP price. 

After a successful LBP, we are happy to announce that the lowest average price of MNT is $3.21 – meaning that all CAE participants will get their MNT at this price. As a reference, the LBP started with an initial price of $5.88 and ended at an average price of $5.29 per MNT. 

All community allocation event participants will receive an email with clear instructions on how to claim their funds.

When and where can I access my tokens?

The tokens obtained by CAE participation will have to be claimed on the Moonbeam network at the Token Generation Event (TGE) which is scheduled at the end of Q1 2022.

Did I win a NextLevel NFT?

The lottery draw for the 85 NextLevel NFTs across levels 4 and 12 will take place and be announced on 15th of February 2022.

Minterest will notify all the winners via an email, so keep an eye on your inbox!

You can also track the NFT Lottery winners here: Results of the Minterest NFT Lottery And Goodies Giveaway

When will I receive the NFT I won participating in Telegram/Discord/Twitter or an AMA?

Those that have won an NFT through an AMA, Telegram, Discord, or Twitter, will be notified by Minterest team members. Make sure that you have provided your Telegram and Twitter handles, as well as your email address as per the instructions.

Your NFT reward will be airdropped at the time of TGE to your MetaMask wallet on the Moonbeam network.

When and where will Minterest launch?

Minterest is expected to have a private launch soon by the end of Q1 2022.

Once again, we wish to thank and congratulate all CAE and LBP participants, supporters, and community members. We couldn’t have done this without you!
We are looking forward to what the future has in store for Minterest.

---

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users

• Minterest LBP Token Event
• How to participate?
  • Set up your wallet
  • Get ETH and ERC20 USDC
  • Connect your wallet
  • Participate in the LBP token event
    • Approve USDC usage
    • Acquire MNT
    • Minterest dashboard for a user-friendly experience

We created a user-friendly Minterest dashboard for a simple and transparent experience to track investment, NFT level, and the real-time changes in the price.

Minterest is a ground-breaking lending protocol built by industry leaders to challenge existing DeFi incumbents and service billions in liquidity by providing its users the highest long-term yield in DeFi.

The Minterest protocol introduces DeFi 2.0; bringing more capital efficiency that allows users to access decentralised token money markets and passes on 100% of the rewards generated to its community of active participants.

The Minterest protocol will be launching it’s only public offering starting from 8th of February 2022 – the LBP token event on Copper. The process of participating in the Minterest LBP token event is explained in this short guide.

Before we proceed, please check out these resources to learn more about our LBP token event:

• Why are we launching an LBP token event?
• Reasons to participate in the Minterest LBP token event

UPDATE: MNT tokens acquired through the LBP are the only ones without a lockup. All other parties are subject to a minimum block by block vesting of 1 year, making the LBP participants the only ones able to participate in MNT or LP staking.

Minterest LBP Token Event

The Minterest LBP token event is the first public offering of MNT tokens, and the only opportunity for the community to secure an allocation in the public offering prior to product launch.

The LBP on Copper is set up with the following metrics:

Where: Minterest.com
LBP Pools: Copper
Start: 08th of February 2022 – 2 pm GMT
End: 10th of February 2022 – 2 pm GMT
MNT Max Supply: 2,500,000 MNT MNT (2.5% total supply)
LBP Base Pair: USDC/MNT
Initial MNT liquidity provided: 2,500,000 MNT
Initial USDC liquidity provided: 300,000 USDC
LBP Weights: Starting at 98/2 and will gradually adjust to 50/50
LBP Starting price: 5.88 USDC

For more information, please visit Copper.

How to participate?

1. Set up your wallet

If this is your first time participating in an LBP on Copper, the first thing you need is to set up an Ethereum wallet. Copper supports two popular Ethereum wallets: MetaMask and Gnosis. For the purpose of this guide, we will be using the popular MetaMask wallet.

MetaMask wallet can be used as a browser extension, or it can be downloaded as a mobile wallet on both Android or iOS. However, in order to participate in the LBP on Copper, you’ll need a browser extension that you can download from here.

2. Get ETH and ERC20 USDC

To participate in the LBP token event, you will need ERC20 USDC tokens to exchange for MNT, and ETH to fund the gas fee for the transaction. Please use your preferred CEX or DEX to acquire USDC and ETH. You can acquire both on major exchanges such as Binance, Coinbase, FTX, or Kucoin etc, and transfer them to the MetaMask wallet you just created. It is recommended to do this step in advance as some CEXes process the first withdrawal within 12-48 hours.

Please make sure you have some ETH in your MetaMask wallet to fund the gas fees on the network and avoid failed transactions due to insufficient funds. To estimate the gas fees for a token swap, please have a look at the swap fees for Uniswap here. You should always have slightly more ETH in your wallet (more than your estimate) because the gas fees depend on network congestion and the smart contract you’re interacting with.

3. Connect your wallet

Once you have ETH and USDC ready in your MetaMask wallet, go to Copper and select ‘Connect Wallet’ from the top right corner and choose MetaMask.

Note: Minterest or Copper will never ask for your private key or seed phrase.

4. Participate in the LBP token event

When the MetaMask wallet is successfully connected, you can participate in the LBP.

Note: Please keep in mind that trading ERC20 tokens (such as USDC or MNT) on Copper requires two separate transactions: In the first transaction, you give Copper approval to withdraw USDC from your wallet and the actual swap happens in the second transaction.

4.1 Approve USDC usage

To approve the usage of USDC, simply click on ‘Approve USDC usage’ and the MetaMask browser extension will ask for the permission to confirm the approval request transaction. This approval transaction (once completed) will incur a small amount of gas fees depending on the network congestion at the time (anywhere between $10 – $20).

4.2 Acquire MNT

Once the approval request for the usage of USDC by the pool contract is completed, you can input the amount of USDC you would like to swap into the field and Copper will estimate the amount of MNT tokens you will receive.

Please note that the value of MNT can change quickly during the LBP and is reflected real-time on the chart and in the input field box.

Read more about the LBP mechanics here.

If you wish to proceed with the token allocation, click on ‘Get MNT’ and your MetaMask browser wallet will ask for confirmation along with the estimated gas fees for the swap transaction. After you confirm the transaction, you’ll see a success message on the screen.

After the success message, the transaction will be available under the ‘History’ tab of the event, and you’ll be able to see your current MNT balance in the swap window.

To learn more about the Minterest LBP token event, join our dedicated Discord channel where we publish regular updates.

4.3 Minterest dashboard for a user-friendly experience

LBP participants will have access to a user-friendly Minterest dashboard for a simple and transparent experience, hosting an overview and a leaderboard detailing live the USDC spent by various participants in the LBP. They can also track their invested amount and NFT level, along with the real-time changes in the price.

Access the dashboard here.

---

What is Minterest?

Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it distributes to its users in return for their active participation in governance.

This blog post will be the source of information to keep track of all the lottery winners and goodies giveaway, including the lotteries that have been concluded till date.
ATTN: To prevent bot signups during the lottery, it is essential that you participate in either the CAE or LBP event to register your lottery tickets for the “APY Boost” NFT lottery.
Only CAE & LBP participants will be part of lottery to prove they are not system abusing bots.

• The winners of Minterest’s CAE “Thank You” Lottery week
• The NFT APY Boost Lottery Winners
• CAE and LBP Quiz Winners

A few weeks ago we announced to you that we are postponing the Minterest Community Allocation Event (CAE). All CAE participants from the Minterest community spent time, effort, and capital so it is only fair that we thank you in return.

All the supporters who successfully deposited their funds in our previous CAE earned an extra 5 NFT “APY Boost” lottery tickets. Our Founder and CEO, Josh Rogers, went live on Telegram every day from 13th to 18th of December and randomly picked the winning four names and described the NFTs that will be awarded.

Here are the winners of Minterest’s CAE “Thank You” Lottery week, which ran from 13th to 18th of December.

Congratulations to all winners!

Winners will automatically receive the respective NFTs in their Whitelisted wallets after Minterest launches in Q1 2022.

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

NFT APY Boost Lottery Winners

Below are the NFT APY Boost lottery winners announced on Feb 15th 2022

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

Below are the NFT APY Boost lottery winners announced on Feb 16th 2022

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

Below are the NFT APY Boost lottery winners announced on Feb 17th 2022

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

Below are the NFT APY Boost lottery winners announced on Feb 18th 2022

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

CAE and LBP Quiz Winners

Below are the CAE quiz winners

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

Below are the LBP quiz winners

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

---

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.

Minterest LBP: Become a Genesis participant in DeFi 2.0 DeFi is a $100B USD industry in it’s infancy, with a potential Trillion USD market size. While cryptocurrency prices display volatility, the value locked in DeFi shows a sharp increase. Based on this correlation, it seems that the DeFi industry could become a safe haven for participants in this alternative financial ecosystem. As DeFi expands and gains mass adoption, there is potential for it to significantly challenge the traditional collateral-based lending industry.

The launch of the Minterest protocol introduces DeFi 2.0, moving the industry a massive step forward. The protocol genesis will be initiated on the 8th of February 2022 by its only public offering – the LBP token event.

UPDATE: MNT tokens acquired through the LBP are the only ones without a lockup. All other parties are subject to a minimum block by block vesting of 1 year, making the LBP participants the only ones able to participate in MNT or LP staking.

• Introducing the most revenue efficient protocol and its architecture
• Benefits of a DeFi 2.0 Genesis Investor
• LBP – Frequently asked questions

Introducing the most revenue efficient protocol and its architecture

The Minterest protocol is up to 200% more capital efficient than the traditional top 3 DeFi lending solutions like Aave or Compound, while being just as secure. The protocol accomplishes this with two industry-first R&D innovations:

• The on-chain Buyback: A treasury algorithm passing all protocol surplus to protocol users instead of the traditional 10-15%, maximizing Minterest user APY drastically.
• The on-chain Liquidation Engine: Up to 40% of protocol value is traditionally lost to liquidations because of 3rd parties conducting them off-chain. Minterest executes liquidations on-chain and captures all liquidation fees lost by other protocols, keeping hundreds of millions USD on-chain, increasing user APY.

If you want to learn more about the current and upcoming Minterest innovations, make sure to visit Minterest Docs, the Technology Paper, and our Discord.

Benefits of a DeFi 2.0 Genesis Investor

The LBP is the first public opportunity to invest, the first step in the protocol token launch. LBP Participants can expect an extraordinary APY in the high end of 3-figure and beyond based on 5 key factors:

1. Minterest token value potential
2. Receive Minterest NFTs unlocking massive APY Boosts
3. Minterest dashboard for a user-friendly experience
4. Exclusive access to the private liquidity mining
5. Exclusive access to MNT and LP staking

You can calculate your return with our Minterest Token Yield Calculator.

Minterest token value potential

To understand the potential value of the token driven by the industry-first Buyback Mechanism, let’s look at Compound. The protocol had a TVL of $0.5B and grew to a $15B valuation; 30 times growth! But what happened to the value of their token? It only rose by 2 times: from $160 to $320. All because the token value didn’t correlate with Compound’s TVL by design.

The Minterest protocol is the first protocol to link the value of it’s token to TVL. The Buyback automatically uses all protocol surplus to acquire the MNT tokens on the open market and distributes them to the protocol users, being the largest and most consistent buyer. Therefore, when the protocol moves from $100M in TVL during genesis to $10B in TVL, genesis investors who stake MNT can expect tremendous yield.

More TVL > more protocol surplus > more tokens returned to the protocol > more yield.

Receive Minterest NFTs unlocking massive APY Boosts

The NFTs hold tremendous value, unlocking APY boosts up to 50% for as long as three years. Considering 70% of Compound’s TVL is held by 20 wallets, you might conclude that for one of those holders, a 50% APY boost on all TVL deployed will translate into a significant 7-figure value add over years.

Minterest dashboard for a user-friendly experience

LBP participants will have access to a user-friendly Minterest dashboard for a simple and transparent experience, hosting an overview and a leaderboard detailing live the USDC contributed by various participants in the LBP. They can also track their amounts and NFT level, along with the real-time changes in the price.

Access the dashboard here.

Exclusive access to the private liquidity mining

Minterest NFT holders get exclusive access to the private liquidity mining event. The protocol’s private launch is scheduled for the end of Q1 2022. For one month, the protocol will only be accessible to participants who hold an NFT from the LBP, their entry ticket to the pre-mine phase.

Exclusive access to MNT and LP staking

The tokens acquired through the LBP are the only fully-vested tokens, all non-LBP tokens are locked for a minimum of 1 year in a block by block vesting schedule. This is a massive advantage since the LBP MNT tokens are instantly tradeable during the DEX launch and eligible for the LP staking program.

The other option is to stake the MNT LBP token in the Minterest protocol itself, earning all the Buyback rewards distributed to the limited number of stakers.

Both the liquidity mining and MNT/ LP staking together are designed to drive massive APYs at the high end of 3-figures and more for the LBP participants.

LBP – Frequently asked questions

Why do we hold an LBP token event?

The Minterest LBP is a response to increasing requests for access to MNT tokens. The mechanism protects our community from front running by large accounts and bots, built to incentivize a fair distribution of tokens across the 2-day event duration instead of being sold out in no time. To learn more about the “why” and “how-to” Minterest LBP, please read the article here.

What are the LBP Specs?

The LBP on Copper is set up with the following metrics:

Where: Minterest.com
LBP Pools: Copper
Start: 08th of February 2022 – 2 pm GMT
End: 10th of February 2022 – 2 pm GMT
MNT Max Supply: 2,500,000 MNT MNT (2.5% total supply)
LBP Base Pair: USDC/MNT
Initial MNT liquidity provided: 2,500,000 MNT
Initial USDC liquidity provided: 300,000 USDC
LBP Weights: Starting at 98/2 and will gradually adjust to 50/50

LBP Starting price: 5.88 USDCFor more information, please visit Copper.

When is the token private launch on DEXs and CEXs?

Token TGE and private launch on DEXs and CEXs will take place after the Minterest Protocol launches.

What are the vesting terms?

There will be no vesting for the tokens in the public offering. All tokens will be fully unlocked upon the launch of the Minterest Protocol (scheduled for March 2022). They will be fully liquid to trade on exchanges, to stake on Minterest, and to provide liquidity on DEXs.

To learn more, visit our extensive FAQ here: Introducing Minterest – Minterest Docs

---

What is Minterest?

Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it distributes to its users in return for their active participation in governance.

04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.

AN UPDATED BLOG FOR CAE 2 (SCHEDULED FOR 24TH JANUARY 2022)

As you all know, we launched the #NextLevelDeFi community allocation event last month that was later postponed due to a delay in the Minterest LBP Token Event. All the participants who deposited their funds in the Community Allocation Event were fully refunded, including the gas fees, on 10th of December.

We are incredibly grateful for the support from everyone who participated and put their trust in the Minterest team. Head over to this blog post to learn more about our community allocation event.

In this short guide, we will explain the process of participating in the Community Allocation Event 2 and how you can become a part of the protocol’s growth journey.

Community allocation rewards

Just a recap from our previous guide; in the Community Allocation phase, people who signed up with the Minterest Sign-up Bot in Telegram will have a guaranteed allocation of between 100 USD and 500 USD.

The Community Allocation Event offers the following rewards:

1. Guaranteed allocation with the lowest average price in the subsequent LBP. Learn more about how this value is calculated here.
2. Activation of all NFT lottery tickets held, the CAE 2 participation being the gateways to win an NFT with APY boosts exceeding 7-figure value-add and access to exclusive pre-mining during the private launch of the Minterest protocol in Q1 2022.

How to participate in the Community Allocation Event
(CAE 2)

Step 1: Whitelisting
(Opens 10th January 2022)

Access the whitelisting via confirmation email

10.01.2022 – People who signed up with the Minterest Sign-up Bot in Telegram in December 2021 will receive an email from nextlevel@minterest.com. Please make sure to double check the email address once you receive it to avoid phishing attacks or scammers trying to get access to your funds. We will never request funds via email. This email will only ask you to complete the whitelisting steps in our whitelisting software.

Access the whitelisting via direct access

10.01.2022 – 24.01.2022 -The whitelisting can be accessed through our campaign page here: https://minterest.com/nextlevel

Whitelisting process

10.01.2022 – 24.01.2022 – The email will contain a link to the whitelisting interface. Please make sure the whitelisting email was sent from nextlevel@minterest.com. Then click the link and continue with the whitelisting. To participate in the event, participants must input their email, their sending/receiving MetaMask wallet address and follow us on Twitter.

Once you complete the whitelisting you will receive a confirmation email from noreply+minterest@gleam.io confirming it. This email will contain your unique referral code and a link to the whitelisting page to confirm your participation status.

Refer and earn

We are excited to see our community grow, and you help introducing the #NextLevelDeFi by referring your friends and getting rewards! You’ll get a chance to win 1 more NFT lottery ticket for each referral. Read about the 7-figure NFT lottery prize pool here.

Step 2: Depositing in the CAE 2
(Opens 24th January 2022)

Community Allocation Event access

24.01.2022 – 31.01.2020 – On the 24th of January 4pm GMT+2 you will receive an email that contains a link to the Community Allocation Event Deposit Interface. The event will be open for one week, and you can deposit up to 500 USDC.

You will be able to make a deposit via Metamask. We support both ETH and BSC networks. Read the following instructions on how to set up your Metamask wallet for a low gas fee transaction via the BSC network. Click here.

Your depositing address will also be your Moonbeam network receiving address (since Moonbeam shares the same wallet address structure as Ethereum and BSC) and will be automatically documented when you connect your Metamask wallet.

Final confirmation

24.01.2022 – 31.01.2020 – When your funds are deposited, you will receive a confirmation email, informing you that your funds have safely reached Minterest.

Confirmation of token price

To know exactly how many tokens you will receive through your CAE 2 deposit, you need to wait until the end of the LBP token event on the 11th of February 2022. This day you will receive an email informing you about the number of MNT tokens you have secured in the CAE 2, priced at the lowest average price in the LBP, securing you the best price token price in the whole public event. Read more on how this price is calculated here.

Liquidity bootstrapping pool

More information will follow in a separate article on how to participate in the LBP.

Sign up for the whitelisting and join our Telegram and Discord channels to become a part of our growing community!

---

What is Minterest?

Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.

AN UPDATED BLOG FOR CAE II (SCHEDULED FOR 24TH JANUARY 2022)

The Next Level Minterest APY Boost NFT lottery.

The entire premise of DeFi is to create a fairer, more inclusive financial ecosystem for all. However, Minterest is fully aware that the biggest proportion of the beneficiaries are professional investors. For example, according to Dune Analytics. 72% of all TVL in Compound is held by only a few wallets. In addition, users often miss out on allocations, and Minterest aims to change this.

Firstly we have created an environment whereby everyone who signs up for the whitelisting is guaranteed an allocation. Secondly we launched a ground-breaking NFT lottery with 7 figure APY boosts that the entire community can access, instead of a wealthy few!

Why NFTs?

The NFTs are designed to incentivise investors with large TVL and to foster long-term loyalty. The NFTs will give the top level investors the ability to earn up to 50% more APY for a three-year period on unlimited TVL. For the largest professional users, this NFT unlocks protocol functionality that can result in millions of dollars of additional rewards. Further, the NFTs work as “keys” to exclusive protocol functionality, e.g. early access to the protocol beta launch.

The NFTs could generate tremendous value for anyone who holds them, and the entire Minterest community will have the opportunity to access them.
Each NFT features custom artwork in the image of a blockchain superstar, crafted by noted illustrators. View all unveiled NFTs and marvel at the range of artistic expression at our NFT gallery here: NFT gallery.

How it works

The lottery has 85 NFTs – all providing different boosts over different time periods for unlimited TVL. The 85 NFTs will produce a protocol functionality value-add which will exceed 7-figures – Our Level 1 NFT, featuring Satoshi Nakamoto, provides a rewards boost of 50% over 36 months, plus early access to the Minterest protocol beta launch.

NFT lottery tickets can be collected throughout the Minterest Next Level Community Allocation Event (CAE), benefiting early supporters and rewarding referrals.

The NFT Levels & functionality

The Minterest APY boost NFTs have different functionalities based on their levels. As we mentioned in a previous article, the value-add of one NFT can exceed 7 figures. Please visit here for more information: NFT lottery. We are making sure that all our community benefits from the tremendous value of these NFTs, locking away 85 of those in the lottery pool!

The major lottery for Minterest NFTs will take place on the 14th ofFebruary. To be eligible you must make a deposit in CAE or LBP. Earn NFT “APY Boost” lottery tickets by referring a friend in the Whitelisting interface. Each person referred will result in an additional lottery ticket for you and them! Please ensure that you complete all mandatory steps in the Whitelisting.

What do I need to do to participate

1. You can simply follow this link and complete the whitelisting steps.
   
   
2. You can earn NFT ‘APY Boost’ lottery tickets by referring a friend in the whitelisting interface. If a referral completes at least one action, both of you will receive an additional lottery ticket.
   
   
3. To be eligible to participate in the NFT ‘APY Boost’ lottery, you must make a deposit in CAE 2.
   
   

Did you Whitelist in the December 2021 CAE and are curious about whether you need to Whitelist again?

If you participated in the earlier CAE in December 2021 and opted to keep your deposit with Minterest, you are not required to Whitelist again. However, Whitelisting again with the same email address can earn you more lottery tickets through referring friends. Note, all of your previously earned lottery tickets have been rolled-over into this CAE!

Received a refund or did not make a deposit at all, you are required to Whitelist again using the same email address. Any previously earned lottery tickets will roll-over into this CAE too!

Have a look at our event page for more information and Don’t forget to follow us on Twitter or join our Telegram and Discord channels to ask any questions and stay up to date with our current events.

---

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on rewards to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation rewards with users.

Editor’s note, 20th Dec 2022: Lottery results have been appended to this page. This lottery has concluded, however, there will be another major lottery after the LBP on 15th February 2022.

A few days ago we announced to you, our valued supporters, that we were postponing the Minterest Community Allocation Event (CAE).

In the spirit of the Minterest ethos it was an easy decision to automatically return your funds plus gas fees on Friday, 10th December 2021. We also set up a process to allow you, the community, to opt-in to leave your funds with Minterest through the rescheduled date for LBP from 8th February 2022 to 11th February 2022.

The opt-in process is now closed, and we are overwhelmed and humbled by your response, with the majority of you deciding to keep your deposits in place. We did not take your decision lightly, and we profoundly appreciate the trust and confidence you have placed in Minterest.

All CAE participants from the Minterest community spent time, effort, and capital so it is only fair that we thank you in return. Here is what we are going to do for every person who successfully made deposits during the CAE:A few days ago we announced to you, our valued supporters, that we were postponing the Minterest Community Allocation Event (CAE).

In the spirit of the Minterest ethos it was an easy decision to automatically return your funds plus gas fees on Friday, 10th December 2021. We also set up a process to allow you, the community, to opt-in to leave your funds with Minterest through the rescheduled date for LBP from 8th February 2022 to 11th February 2022.

The opt-in process is now closed, and we are overwhelmed and humbled by your response, with the majority of you deciding to keep your deposits in place. We did not take your decision lightly, and we profoundly appreciate the trust and confidence you have placed in Minterest.

All CAE participants from the Minterest community spent time, effort, and capital so it is only fair that we thank you in return. Here is what we are going to do for every person who successfully made deposits during the CAE:

1. You will receive 5 extra lottery ticketsAll supporters who successfully deposited funds will earn an extra 5 NFT “APY Boost” lottery tickets.
   
   
2. You will participate in the exclusive CAE “Thank you” lottery for 20 NFTsA total of 20 NFTs will be distributed to community members daily, from Monday, 13th December until Friday, 17th December at 12:00pm GMT
   
   
3. You also keep all lottery tickets earned for the next major lottery after the LBPAll of your earned lottery tickets will also be applied to the next major lottery held on the 15th February 2022 after the LBP. These actions are simply to say a heartfelt thank you for your support and understanding.
   

Understanding the value of an NFT

The value of these NFTs has been described as very significant. Depending on the level, the NFT holders could be looking at a 7 figure asset. Not only will the NFT provide a massive APY boost, it will work as a “key” to valuable protocol functionality, providing exclusive access for example, to a pre-mining phase of the protocol private launch.

For more information on the NFTs functionality and value, please visit our NFT gallery, read our NFT explainer article, and explore our whitepaper.

How the lottery will work

The lottery includes 20x NFTs from levels 7 through 10, each with their own special APY emissions boost rewards. Each day 4x new NFTs will be awarded as follows:

Meet our CEO and founder as he draws the winning tickets live on Telegram

Each day of the event, our Founder and CEO, Josh Rogers, will be live on Telegram at 12pm GMT to randomly draw the winning four names and describe the NFTs that will be awarded. The daily results will be published on Twitter, in case you do not manage to join the live event.

Within 24 hours of the daily ticket announcements, winners will receive an email from Minterest providing instructions on how to claim their NFT.

We wish you the best of luck and we are excited to see who will be walking away with these incredible crypto assets.

---

TLDR: Minterest CAE “Thank you” Lottery

What: 20 NFTs will be given away to CAE participants

Where: Minterest’s Telegram Community Chat

When: Daily, from Monday, 13th December until Friday, 17th December at 12:00pm GMT

Who: All Community Allocation Event (CAE) participants

Results of the Minterest CAE “Thank You” Lottery

Here are the winners of Minterest’s CAE “Thank You” Lottery week, which ran from 13th to 18th December.

Winners are identifiable via the last five digits of their wallet addresses used to deposit USDC during the CAE. Due to privacy reasons, emails and names will not be shown.

Day 1
Level 7 NFTsEd40a
057df
42a35
c5e98

Day 2
Level 8 NFTs5556A
5Ad9B
5148D
666a8

Day 3
Level 9 NFTs45C89
1dd23
3c0Db
89fd1

Day 4
Level 10 NFTs8daB4
a4660
d2531
30e40

Day 5
Level 10 NFTs7F603
54aA1
189f9
9F961

Congratulations to all winners! You will have received an email from us, detailing next steps on how to claim your awarded NFT.

So welcome to Minterest, in your best interest

---

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on revenue to contributing platform users. This way, users receive protocol revenue on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation revenues with users.

A MESSAGE FROM JOSH ROGERS, FOUNDER & CEO OF MINTEREST

What has become very evident over the past week is that holding the Next Level LBP on 15th December will not allow enough time to properly explain the various innovations of the Minterest protocol, plus the novel concept of NFTs being paired with protocol functionality, both of which are essential components of the LBP.

Holding the LBP within given time frames was therefore a strategic error, an error that was mine and one for which I apologise.

Therefore we will now hold the LBP from 8th to 11th February 2022. Doing so however will impact people who participated in the recent Community Allocation Event (CAE).

In participating in the CAE, the agreement with Minterest was simple and clear. Participants would forward their funds and Minterest would hold an LBP from 15th to 18th December. Following this, participants would know the price they paid for MNT, which would be the lowest average price achieved in the LBP.

In rescheduling the CAE, Minterest is breaching its agreement with its community and in our book, this is not OK. To restore our relationship with our community, we are undertaking the following:

1. We will reschedule the CAE for 24th January 2022 with the same financial terms as before.
   
   
2. As a default position, we will return every participant’s funds, plus any gas fees they may have incurred, on 10th December 2021. This is a very significant undertaking given the number of people who participated. It is possible there may be some minor delays for a small number of people and if so, please bear with us, we will resolve such issues as quickly as possible.
   
   Should people find it more convenient to not have their funds returned as they are clear they will again participate next year, then they may notify us with an “opt in ”. We will hold their funds, and then roll them into the new CAE on 24th January 2022 on identical terms. Opt in details are below.
   
   
3. We will provide an additional series of NFT giveaways, as compensation for the inconvenience caused.Again, please find the details below.

Minterest is introducing new innovation to DeFi intended to be breakthroughs in the lending protocols sector. These innovations are significant in number, complex technologically and regarding model design, highly sophisticated. These schedule changes now allow us to properly communicate these innovations to enable
Minterest’s community to properly appreciate their value.

The women and men behind the Minterest protocol are unquestionably amongst the very best in the game. With regards to this error in my judgement, I would ask you please judge me and not them, or their extraordinary work.

Yours sincerely,

Josh Rogers
CEO
Minterest

MINTEREST’S NEW TREASURY FUNDRAISING DETAILS

Opt-out of automatic refund

All funds deposited during the Community Allocation Event will be automatically refunded.

If, however, you prefer to keep your funds with us until the New Community Allocation event on 24th January 2022 please enter your Whitelisted email into the following Google Form on or before 9th December (15:00 GMT) here

ADDITIONAL INFORMATION

Supporters that incurred an error during their deposit might face a delay, and we will work to resolve this as soon as possible.


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


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


LBP NFT Lottery WeekIn addition, all existing lottery tickets will carry over to the next major lottery after the LBP. The subsequent lottery will take place during the week of 15th February 2022.

Questions

Please reach out to us via the following channels: Telegram & Discord

---

What is Minterest?

Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.

As you all know, we launched the #nextleveldefi community allocation event last month that was later postponed due to a delay in the Minterest LBP Token Event. All the participants who deposited their funds in the Community Allocation Event were fully refunded, including the gas fees, on 10th of December.

We are incredibly grateful for the support from everyone who participated and put their trust in the Minterest team. Head over to this blog post to learn more about our community allocation event.

In this short guide, we will explain the process of participating in the Community Allocation Event and how you can become a part of the protocol’s growth journey.

Community allocation rewards

Just a recap from our previous guide; in the Community Allocation phase, people who signed up with the Minterest Sign-up Bot in Telegram will have a guaranteed allocation of between 100 USD and 500 USD.

The Community Allocation Event offers the following rewards:

Guaranteed allocation with the lowest average price in the subsequent LBP. Learn more about how this value is calculated here.

NFT lottery entry to win an NFT with APY boosts exceeding 7-figure value-add and access to exclusive pre-mining during the private launch of the Minterest protocol in Q1 2022.

How to participate in the community allocation event

WHITELISTING

Access the whitelisting via confirmation email

10.01.2022 – People who signed up with the Minterest Sign-up Bot in Telegram will receive a confirmation email from nextlevel@minterest.com – please make sure to double check the email address once you receive it to avoid phishing attacks or scammers trying to get access to your funds. This email is not to request funds. This email will only ask you to complete whitelisting steps.

Access the whitelisting via direct access

10.01.2022 – 24.01.2022 – If you have not signed up with the Minterest Sign-up Bot in Telegram – the sign-up is still open here:

Whitelisting process

10.01.2022 – 24.01.2022 – The email will contain a link for the whitelisting process from nextlevel@minterest.com. Please double check the email address that the whitelisting email was sent fromnextlevel@minterest.com before clicking on anything.

Then click the link and fill in the whitelisting requirements. To participate in the event, participants must input their email, their sending/receiving wallet address and follow us on Twitter.

Refer and earn: We are excited to see our #NextLevelDeFi community grow, and you can be a part of the journey by referring your friends. You’ll also get a chance to win 1 more NFT lottery tickets for each referral. Read about the 7-figure NFT lottery prize pool here.

Once you complete the whitelisting you will receive a confirmation email from noreply+minterest@gleam.io confirming it. This email will contain your unique referral code and a link to the whitelisting page to confirm your participation status.

NFT lottery updates during whitelisting process

You will receive email updates every second day regarding the total amount of lottery tickets you have earned.

COMMUNITY ALLOCATION EVENT

Community Allocation Event access

24.01.2022 – 27.01.2022 – You will soon receive an email that contains a link to the Community Allocation Event. The event will be open for three consecutive days, and you can deposit up to 500 USDC. Your depositing address will also be your Moonbeam network receiving address (since Moonbeam shares the same wallet address structure as Ethereum and BSC) and will be automatically documented when you connect your Metamask wallet.

You will be able to make a deposit via Metamask. We support both ETH and BSC networks. Read the following instructions on how to setup up your Metamask wallet for a low gas fee transaction via the BSC network. Click here.

Final confirmation

When your funds are deposited, you will receive a final confirmation email. After the LBP token event is completed, you will receive another email notification informing you about the number of MNT tokens secured at the lowest average price in the LBP. Read more on how this price is calculated here.

Liquidity bootstrapping pool

More information will follow in a separate article on how to participate in the LBP.

Sign up for the whitelisting and join our Telegram and Discord channels to become a part of our growing community!

---

What is Minterest?

Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.

The Next Level Minterest APY Boost NFT lottery.

The entire premise of DeFi is to create a fairer, more inclusive financial ecosystem for all. However, Minterest is fully aware that the biggest proportion of the beneficiaries are professional investors. For example, according to Dune Analytics. 72% of all TVL in Compound is held by only a few wallets. In addition, users often miss out on allocations, and Minterest aims to change this.

Firstly we have created an environment whereby everyone who signs up for the whitelisting is guaranteed an allocation. Secondly we launched a ground-breaking NFT lottery with 7 figure APY boosts that the entire community can access, instead of a wealthy few!

Why NFTs?

The NFTs are designed to incentivise investors with large TVL and to foster long-term loyalty. The NFTs will give the top level investors the ability to earn up to 50% more APY for a three-year period on unlimited TVL. For the largest professional users, this NFT unlocks protocol functionality that can result in millions of dollars of additional rewards. Further, the NFTs work as “keys” to exclusive protocol functionality, e.g. early access to the protocol beta launch.

The NFTs could generate tremendous value for anyone who holds them, and the entire Minterest community will have the opportunity to access them.
Each NFT features custom artwork in the image of a blockchain superstar, crafted by noted illustrators. View all unveiled NFTs and marvel at the range of artistic expression at our NFT gallery here: NFT gallery

How it works

The lottery has 85 NFTs – all providing different boosts over different time periods for unlimited TVL. The 85 NFTs will produce a protocol functionality value-add which will exceed 7-figures – Our Level 1 NFT, featuring Satoshi Nakamoto, provides a rewards boost of 50% over 36 months, plus early access to the Minterest protocol beta launch.

NFT lottery tickets can be collected throughout the Minterest Next Level Community Allocation Event (CAE), benefiting early supporters and rewarding referrals.

The NFT Levels & functionality

The Minterest APY boost NFTs have different functionalities based on their levels. As we mentioned in a previous article, the value-add of one NFT can exceed 7 figures. Please visit here for more information: NFT lottery. We are making sure that all our community benefits from the tremendous value of these NFTs, locking away 85 of those in the lottery pool!

The major lottery for Minterest NFTs will take place on the 14th ofFebruary. To be eligible you must make a deposit in CAE or LBP. arn NFT “APY Boost ” lottery tickets by referring a friend in the Whitelisting interface. Each person referred will result in an additional lottery ticket for you and them! Please ensure that you complete all mandatory steps in the Whitelisting.

What do I need to do to participate

1. You can simply follow this link and complete the whitelisting steps.
   
2. You can earn NFT ‘APY Boost’ lottery tickets by referring a friend in the whitelisting interface. If a referral completes at least one action, both of you will receive an additional lottery ticket.
   
3. To be eligible to participate in the NFT ‘APY Boost’ lottery, you must make a deposit in CAE 2.

Did you Whitelist in the December 2021 CAE and are curious about whether you need to Whitelist again?

If you participated in the earlier CAE in December 2021 and

• Opted to keep your deposit with Minterest, you are not required to Whitelist again. However, Whitelisting again with the same email address can earn you more lottery tickets through referring friends. Note, all of your previously earned lottery tickets have been rolled-over into this CAE!
  
• Received a refund or did not make a deposit at all, you are required to Whitelist again using the same email address. Any previously earned lottery tickets will roll-over into this CAE too!

Have a look at our event page for more information and Don’t forget to follow us on Twitter or join our Telegram and Discord channels to ask any questions and stay up to date with our current events.

---

What is Minterest?

Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.

Minterest is a ground-breaking lending protocol built by industry leaders to challenge existing DeFi incumbents and service billions in liquidity and is so doing providing its users the highest long term yield in DeFi.

As you all know, we launched the #nextleveldefi community allocation event last month that was later postponed due to a delay in the Minterest LBP Token Event. All the participants who deposited their funds in the Community Allocation Event were fully refunded, including the gas fees, on 10th of December.

In this short guide, we will explore the Minterest’s public distribution that will occur in two distinct phases:

• Phase 1: Community Allocation Event
• Phase 2: LBP Token Event (Liquidity Bootstrapping Pool)

Both phases are intended to be completed by Q1 2022. In parallel, the protocol will be assessed by leading security firms, getting ready for the private launch and TGE later this year.

Phase 1: Minterest Community Allocation Event

The community allocation event is intended to ensure a maximum allocation of 500 USD to any and all members of Minterest’s community.

Who is eligible to participate in the Minterest Public Distribution?

The Minterest Public Distribution is open to anyone except for citizens, residents, and incorporated entities of the United States and the following sanctioned countries: Cuba, Iran, Crimea Region of Ukraine, North Korea, Syria.

How do I sign up for the Minterest Community Allocation event?

If you signed up during the earlier #nextleveldefi event, your allocation is confirmed. If you did not, please check the following link to sign up: here.

For those who are interested in participating in the community allocation event we created a short guide here.

What is the price of the Minterest token (MNT)?

The price is determined based on phase 2: the Next Level liquidity bootstrapping pool (LBP). All participants in Minterest’s community allocation event will receive MNT at the lowest average price set in the Next Level LBP. Please see the details in Phase 2 below.

What is an LBP and how does this all work?

Please see the details in Phase 2 below.

Why is there a guaranteed allocation?

The public offering was designed to uphold the community-centric principles upon which Minterest was designed throughout its fund raising process. The community allocation event is designed to:

1. Enable early supporters to secure an allocation prior to the Next Level LBP.
2. Provide early supporters with confidence regarding their pricing.
3. Ensure gas prices are minimized for those who may be impacted during the Next Level LBP.

Why do you receive the lowest average price in the Next Level LBP?

Minterest’s goal is to be fair and equitable while ensuring a wide distribution of the native MNT token. Irrespective of any outcomes in the Next Level LBP, the participants in the Minterest community allocation event are assured of the lowest average price that occurs during this process. In the following section we describe the Next Level LBP in detail and how LBP architecture is used to derive a fair market structure through price discovery.

What are the Community Allocation Event terms?

• The allocation starts from min. 100 USD to max. 500 USD. The maximum allocation can be increased later, based on the response from the community. Anything below the minimum and above the maximum amount will be forwarded to the treasury.

• The price is the average lowest price in the subsequent LBP (read more below).

• The funds can be sent through the Ethereum or Binance Smart Chain network (to reduce gas fees). We will support Metamask integration, please read here how you can add the BSC network on Metamask.

• There will be no vesting for the tokens in the public offering. All tokens will be fully unlocked upon the launch of the Minterest Protocol (scheduled for March 2022). They will be fully liquid to trade on exchanges, to stake on Minterest, and to provide liquidity on DEXs.

What are the funds used for?

The funds raised will be used for bootstrapping the Treasury of the Minterest DAO.

Were there other investment rounds before the community allocation event?

Yes, Minterest Labs raised $6.5 million from key investment partners like KR1, CMS, DFG, NGC and others. All related information is disclosed here: Minterest’s village of supporters. There is another pool for industry leading marketing partners and we will provide an update here soon.

Phase 2: Next Level LBP

Why LBP?

In LBP events, supporters are able to participate in a variant to the ‘dutch auction’ process. Dutch auctions are a mechanism where instead of participants getting an offering at a fixed value, the process allows anyone to bid their own chosen quantity and decide on the value they are willing to attribute. Unlike traditional auctions where bidders bid the value up, the value of the asset will fall over time until participants acquire tokens at the volumes they are seeking.

To read more about how an LBP works, please read this great guide by Balancer.

The Minterest LBP will be conducted on Balancer where people can directly buy MNT tokens using USDC (ERC-20); more details for the LBP specifics will be disclosed later. Participants will have access to a Minterest interface for a simple and transparent experience, hosting an overview and a leaderboard detailing live the USDC spent by various participants in the LBP. The leaderboard provides valuable transparent insight for those purchasers seeking, as part of their purchase of MNT tokens, to secure a specific level of Minterest NFTs; read more about Minterest NFTs here.

How do community allocation event participants get the guaranteed lowest price in LBP?

LBPs usually have a constant downward price pressure from a high initial price. According to a series of simulations run by Perpetual Protocol, the LBP price curve can have different shapes and forms depending on various parameters.

However, the most common pattern is a V-shaped price curve where the initial price is high, followed by a sudden dip (the bottom point in the price curve), and then an upward continuation. To illustrate this better, let’s examine the LBP curves of some recent LBPs: Gro and Merit Circle.

$GRO LBP Price Curve

Gro is an example of a rather common price curve. The initial price for the LBP started high at $10.57, followed by a sudden fall towards $4.48, then some consolidation, and finally an upward continuation. The minimum value during the LBP was $4.48 and the end price was $9.28.

$MC Price Curve

There also exist some edge cases outside of what was described above. Also in those we have our community covered. An example to illustrate this, is the record-breaking Merit Circle LBP. Right after the LBP auction, the price of $MC touched $2.016, followed by a sudden fall towards $1.071. The closing price in the LBP was $3.20; a phenomenal ~3x from the dip during the LBP.

How is the “lowest average price” for community allocation event participants calculated?

Minterest community allocation event participants will get the lowest average price in the LBP. The price is a function of the average of the lowest LBP prices paid by total funds accumulated in the community allocation event.

Let’s assume that all participants accumulate 500,000 USD in the community allocation event. The value in the community allocation event is determined retroactively as the average value of the lowest 500,000 USD acquired through the LBP.

In more detail: Let’s assume that in the LBP there are 5,000,000 USD collected at the end of the event, where all LBP participants paid a different price. Sort all 5,000,000 USD provided by the token price paid from high to low, and take the average price of 500,000 USD from the bottom and average it. This is the average lowest price in the community allocation event.

How do I participate in the Next Level LBP token event?

For those who are interested to participate in the Next Level LBP event, we created a short guide here. Once you sign up, there will be a whitelisting process where you will receive all the instructions via email.

Next Level community allocation event:

The NFT lottery

The Minterest NFTs carry a significant boost in the protocol’s emissions rewards and allow early access to the private launch of the Minterest protocol (expected Q1 2022). Minterest NFTs offer up to 50% boost in a user’s MNT Emissions Rewards.

A total of 3000 NFTs will be issued across 12 different levels, with each represented by 1 of 100 unique images. Each level has more types of NFTs, with higher boosts in Emissions Rewards and periods of validity being applied to rarer NFTs.

Please read about Minterest’s NFT functionality here: NFT Lottery.

The NFT bonus rewards will be distributed among the participants that are at the top of the leaderboard based on the total amount of net USDC token acquisition amounts.

To enable community members with smaller wallets a chance at an NFT, the NFT lottery contest was launched for early signups to the #nextleveldefi event. To date, we have secured over 25K signups.

Want a chance to win an NFT? Sign up here: https://minterest.com/nextlevel

Sign up for the whitelisting in our Telegram Channel and feel free to ask any questions to the team directly in Discord!

---

What is Minterest?

Minterest is a decentralised lending protocol. It comes with a unique economic model where the protocol itself captures 100% of the value it creates from interest income, flash loan fees, and auto-liquidation fees which it passes on to its users in return for their active participation in governance.

04.22 UPDATE: Due to significant market support to prioritise Ethereum as the protocol’s launch network, we are launching on Ethereum first and will launch on Moonbeam later.

Just a week after launching Minterest’s community allocation event, the community grew to 20,000 people with over 20,000 subscriptions for the event – just extraordinary growth!

We are incredibly grateful for the support from everyone who has assisted in achieving this result, including Minterest investment partners, marketing partners and all of you – our community! The best part is: we are just getting started!

Community comes first

Building and growing Minterest’s community has always been a priority and in doing so building trust and inclusivity, with community sitting at the core of what Minterest does and is about.

When exploring ways people might access the protocol and interact with the protocol, it seemed many common options did not create the inclusion being sought, but rather promoted user ‘fomo’. To reflect Minterest’s ethos of fairer finance and inclusivity, we redefined what a conventional community allocation event looks like – welcome to the NEXT LEVEL.

This is an event where all sign ups are guaranteed an allocation! In addition, people get the opportunity to win a Minterest NFT in the NFT lottery, which provides its holder significant boosts in APY, and which can be used or traded to others for whom such a feature is highly valuable.

Such NFTs will grant the holder an APY boost with potentially very significant value-add depending on their supply of liquidity to the protocol. NFT holders will earn a higher yield without impacting the rewards of other participants.

Each whitelisted participant will receive a number of lottery tickets proportional to how early they sign up. Find more details on the NFT lottery here.

Sign up to get guaranteed allocation & APY boost lottery tickets.

Community weekly highlights

We have just hit the 20,000+ signups milestone on our community allocation event! The team behind Minterest are very active in the channel, ready to answer questions and provide regular updates.

Here are some of the highlights from last week’s activity:

Join our Telegram Channel today and become a part of our growing family!

So welcome to Minterest, in your best interest

---

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.

Minterest is now approaching the next level of its development – the community allocation event. If you haven’t heard about the Minterest protocol yet, you may find details here: minterest.com/blog.

We believe that users are the ones who give protocols their value, so we have designed the community offering to reflect our ethos of fairer finance and inclusivity, and to address the specific requests of our supporters.

Our community comes first

We listened to our community’s biggest request: By signing up for the whitelist you will receive a guaranteed allocation in the community allocation event!**

To maximize community value, we are excited to further present the Minterest “APY boost” NFT lottery! The pool of the lottery holds NFTs, which provide access to 7-figure APY boosts.*

All whitelisted participants automatically receive tickets for the lottery. The amount of lottery tickets awarded depends on how early a participant signs up to our community event. So, a day-one sign up will earn you 20 tickets. Sign up rewards will then be reduced by one each day until the end of the event. See the amount of days left on the countdown on our community allocation event page here or check in the table below.

Sign up now to maximize the amount of lottery tickets you can receive!

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

NFT value explained

The NFTs provide access to protocol functionality that can generate millions of dollars in APY boosts. There are a limited number of NFTs available, which is why Minterest is committed to ensuring full tradeability of the NFTs so participants can interchange their NFTs based on their needs.

Here’s one example: Over 72% of all TVL in Compound is held by only a few wallets, according to Dune Analytics. It is no surprise that the rare and valuable NFTs are especially attractive for large asset holders. The top tier NFT will enable any holder to earn up to 50% more APY* for a five-year period on unlimited TVL. For our largest professional users, this NFT unlocks protocol functionality that can result in millions of dollars of additional rewards. Further, the NFTs work as “keys” to exclusive protocol functionality, e.g. early access to the protocol beta launch.

It makes sense that the NFTs could generate tremendous value to anyone who holds them. And, we want to provide opportunities to the Minterest community to gain access to these benefits. The lottery will give our supporters a first chance of winning such NFTs!

Why Minterest has introduced the NFT functionality

Long-term liquidity providers are essential to the health of the Minterest protocol. The NFTs are designed directly to reward long-term supporters.

The purpose of NFTs is to detach value-added benefits from individual accounts and make them transferable among the community directly or through NFT marketplaces. Imagine exclusive credit card rewards detached from an individual and thereby transferable to others, and you get the basic idea. We believe this level of flexibility will encourage sustainable and healthy growth of the protocol.

Refer your friends and receive an extra lottery ticket each

At the end of the sign up process you will get an individual referral link. Every friend you refer that uses the link to sign-up, will receive one additional lottery ticket, and so will you. For a guaranteed allocation in the community allocation event, and to get the maximum amount of lottery tickets, sign up here today.

Anti bot disclaimer

All lottery tickets will have a simple but very effective anti-bot prevention mechanism. The lottery winners will be announced only after the community allocation event. The lottery will therefore be held among participants of the community allocation event, ensuring the sign-up email belongs to a human and not a bot.

If you have any questions you can reach us on Telegram or Discord.

So welcome to Minterest, in your best interest

About Minterest

Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.

The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.