API3 partners with Minterest to unlock $mETH and $mUSD
We’re excited to announce that Minterest is now integrated with API3, a leading blockchain oracle provider. This partnership bridges the gap between off-chain data and on-chain applications like Minterest with high security and low latency.
Our collaboration combines API3’s advanced data services with Minterest’s next-generation style lending protocol. Minterest is now integrated into the robust Mantle Network to unlock lending and borrowing in $mETH and $MUSD.
Together with API3 and the Mantle Network, we’re aiming to create a DeFi space that is more secure and user-focused. This partnership will introduce new opportunities and much-anticipated mETH and mUSD markets, expanding our potential in the DeFi landscape. Read more to uncover the details of our collaboration.
What is API3?
API3 is a leading blockchain oracle provider bridging traditional third-party oracle networks to first-party oracle solutions.
API3 offers a range of tools for developers who are creating advanced applications, including:
- Airnode, which lets API providers connect directly to the blockchain.
- Decentralized data feeds (dAPIs) available on the API3 Market.
- QRNG services that generate genuinely random numbers on the blockchain.
- OEV Share, is a feature that helps decentralized apps (dApps) enhance their performance and benefit from Oracle Extractable Value.
- And much more.
API3 builds an interconnected, sustainable ecosystem with verifiable, decentralized, and secure oracle solutions.
What is Minterest?
Minterest is a decentralised lending protocol designed to capture 100% of fees and then redistribute those fees back to users through a buy-back of the $MINTY governance token once the feature is activated. Minterest is also able to tap into greater fee capture through its proprietary Solvency Engine, which manages liquidations at the protocol level instead of relying on third parties.
The protocol’s architecture is intended to attract and retain long-term liquidity over inflationary mechanisms and aims to benefit the Minterest community and $MINTY token holders from our value-centric ecosystem.
Minterest is designed to redistribute significant value from the protocol back to users and $MINTY token holders. As a result, Minterest is effectively able to offer potentially improved lending and borrowing interest rates that are sustainable.
Minterest partners with API3 to unlock mETH and mUSD
This integration enables Minterest to launch the mETH and mUSD markets for lending and borrowing.
This integration enables Minterest to launch the mETH and mUSD markets for lending and borrowing. This collaboration will spark a high APY generation event for Minterest, presenting an attractive opportunity for liquidity providers.
Minterest’s collaboration with API3 is central to the protocol’s growth strategy and marks an important step in its roadmap to broaden cross-chain interactions, minimize liquidity fragmentation, and aims to expandaccessibility for DeFi users.
What’s next for Minterest?
The partnership between Minterest and API3 seeks to advance DeFi by combining API3’s data expertise with Minterest’s lending innovations, creating a more integrated, efficient, and user-centric platform.
Opening Minterest to mETH and mUSD markets is a huge milestone in our roadmap, and the API3 integration will continue to bridge our protocol to attractive opportunities for users.
Celebrate the announcement on Twitter and join the community for upcoming updates.
$mETH and $mUSD are third-party assets issued and managed outside the control of the Minterest protocol. Their peg mechanisms, yields, and redemption processes may change without notice.
API3 oracle services are likewise provided by an independent third party; data availability, accuracy, and timeliness are subject to API3’s own infrastructure and governance decisions.
Fee-return percentages, APY illustrations, and roadmap timelines are targets based on current parameters and may be modified, delayed, or suspended through governance, market conditions, or technical audits. Figures are illustrative only; results are not guaranteed, and nothing herein constitutes financial, legal, or investment advice.
23, January 2024
