Minterest NFTs: Boost Reloaded
What are Minterest NFTs and what makes them unique?
For those who might be unfamiliar, Minterest NFTs, with their protocol-specific utility, present a unique use case among DeFi protocols. Our collection of 3000 NFTs, spread across 12 tiers, commemorates historically influential Blockchain pioneers and offers holders privileged access during the Private Launch, along with an emission boost for supply/borrow activities during the Public Launch.
So, what’s the latest on Minterest NFTs?
Emission boosts are time-bound, lasting anywhere from 5 months to over 3 years, depending on the NFT’s rarity. Since these NFTs were minted in February 2023, many of them are now reaching their expiration before Minterest transitions into its Public Launch phase, where the emission boost becomes active. Clearly, this doesn’t present a fair scenario for our NFT holders.
Is there a solution?
We’ve got one, and it extends for 12 months!
Our team has found a way to update the NFT smart contract to extend the operational validity of the NFT emission boost. This means the validity period of the emission boost will be extended by an additional 12 months from the current expiry date for all holders, thereby revitalising all NFTs and extending their valuable use with the protocol.
What’s more, NFT holders don’t need to lift a finger to receive this benefit!
Here’s a quick look at the old and new validity periods of the NFTs across all tiers:
A few important points to note.
Development in Progress: Our team is still in the process of scheduling this development work to extend the lifespan of the NFTs in the product roadmap. We will share an announcement once it is completed.
Public Launch Time Frame: Please note, the 12-month extension of the Minterest NFTs has no direct correlation with the time frame of the public launch.
Tokenomics Impact: As the original token allocation for the emission boosts is more than what will actually be used, there will be no impact on the circulating supply. A key benefit of extending the lifespan of the NFTs for the Minterest community is the anticipated wider distribution of the Minterest token to a scaling user base, thus expediting the move towards decentralisation.
We hope this update brings a smile to your faces, as we know this has been a pressing concern to the community for quite some time.
03, August 2023