Minterest is Moving Forward
After a demanding few months we are delighted to announce that Minterest is moving forward. In this post we provide an update on recent events and the path ahead for the project.
In February, during the Private Launch, the Minterest protocol reached an important milestone with $5M TVL. Subsequently, securing additional funding for the Public Launch was necessary. Management missteps by Josh Rogers, founder and CEO of Minterest Labs, coupled with his inability to raise the required capital, led to the business exhausting its operational runway. This prompted his decision to leave the project.
Irrespective of the setback, the core team was determined to find a solution. Through collaboration with institutional partners, we have identified a legal pathway to operate independently of Minterest Labs while utilising Minterest’s groundbreaking technology.
Minterest’s New Chapter
Minterest retains its essence – the brand, the audited technology, and its core team members. Minterest’s online properties will soon be reactivated. The protocol has also continued to function uninterrupted from launch, facilitating ongoing lending and borrowing activities.
Minterest’s operations are now streamlined under the leadership of core team members including:
- Kyn Chaturvedi: Strategy
- Denis Romanovsky: Technology
- Veiko Krünberg: Marketing
- Martti Kullang: Product
A “Community Asks” section has been set up on the Minterest Gitbook to address your questions. Our next update will share a roadmap for the remainder of 2023, offering insight into your key queries on topics including product highlights, Minterest NFTs, token vesting, supported token markets, DAO, and more.
We are also reopening the Minterest Telegram and Discord channels shortly and look ahead to resuming regular communication with the Minterest community.
Throughout this difficult period we have appreciated the messages of support. There is an incredible opportunity in front of us and we are excited to share it together.
The Minterest Team
25, July 2023