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:
Why do you receive the lowest average price in the Next Level LBP?
- Enable early supporters to secure an allocation prior to the Next Level LBP.
- Provide early supporters with confidence regarding their pricing.
- Ensure gas prices are minimized for those who may be impacted during the Next Level LBP.
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?
What are the funds used for?
- 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.
- All investors will receive their allocation vested block by block over 365 days from the date of TGE in Q2022. The community allocation event investors enjoy the same one year vesting starting on the date of the TGE as do Minterest’s early investors.
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.How are MNT tokens distributed?
100% of tokens will be released smoothly, block by block after the Minterest protocol launches on Moonbeam. Community allocation event participants and private round investors vest over 1 year, advisors vest for 2 years, and the team has a 6 month cliff before vesting begins over 5 years.