Lock & Load – Your Chance To Double Your MNT Allocation
The offer can be accepted until December 21, 11 UTC
Minterest is a sustainable lending protocol that creates real underlying value in its token economy and rewards contributors for their support. Consistent with that ethos Minterest announces Lock & Load: an exclusive offer for Minterest LBP and CAE participants.
Lock & Load allows participants to opt-in to receive double the amount of their allocation for locking their tokens for 12 months. The increased allocation is then vested block-by-block over the following 12 months.
Why Lock & Load?
Lock & Load reduces MNT circulating supply in the first 24 months, supporting the protocol’s token economy in what are likely to be tight market conditions. Users who take up Lock & Load receive the token reward for contributing to Minterest.
This exclusive offer helps jump-start the protocol’s flywheel effect and keeps MNT token liquidity on-chain during the crucial launch phases, positioning Minterest for early success.
Lock & Load is intended for and best suits strong project supporters who believe in Minterest’s ability to carve out a significant role in the future of DeFi.
How Does It Work?
Lock & Load is rewarding, but not complicated. Connect your wallet, the same wallet used in the CAE or LBP, confirm your MNT, your Lock & Load allocation and choose the Lock & Load option. At that point, your tokens will be locked for 12 months.
A few key considerations:
- Your MNT allocation doubles immediately on accepting Lock & Load. After the 12-month lock, your newly-doubled MNT will vest to you block-by-block over the following 12 months.
- While after 12 months an increasing proportion of your MNT will continually become tradeable, in total it will take 24 months for all of your MNT to be fully tradeable.
- When MNT is locked it cannot be transferred to another wallet or staked. MNT will become transferable as you receive them block-by-block during the 12-month vesting period.
- Your MNT may be locked but your voting rights aren’t. Voting rights vest block-by-block over 12 months based on your total Lock & Load allocation. Your voting rights also develop voting weight. As your voting weight increases, so does your loyalty reward, which increases your proportion of Governance Rewards earned when your MNT unlocks. Please check out Minterest’s white paper for more detail.
What About NFT Rewards?
Lock & Load does not depend on NFTs; having one or not does not prevent you from taking up Lock & Load.
Minterest NFTs provide greater benefit for liquidity providers (LPs) who intend to supply and borrow over time. NFTs increase Standard Emissions for the holder once public access begins. Since Standard Emissions are tied to the amount of liquidity supplied and borrowed, the greater the amount, the greater the emissions. LPs with large amounts of liquidity who own NFTs therefore gain more value from it than someone with less.
Users with a Minterest NFT who opt for Lock & Load can consider trading them to liquidity providers seeking Private Launch access and/or increases in their Standard Rewards when public access occurs. With only just over 400 allocated to date, the rarity of Minterest NFTs may make them highly sought-after by LPs seeking to maximise their yields.
How To Get Started?
The Lock & Load offer is exclusively available to Minterest CAE and LBP participants until just prior to MNT emission rewards starting.
If you are a Minterest CAE and LBP participant, and you have an MNT allocation, you can log into app.minterest.com and opt-in to the Lock & Load offer.
To learn more about the Lock & Load, head over to the terms & conditions.
Lock into Minterest, get loaded with MNT.
25, October 2022