Minterest Takes Off! Launch Week in Review
Minterest Private Launch entered its final stage last Tuesday, Feb 28, 2023. TGE happened, NFTs were minted, and the protocol’s emission rewards started.
Here’s a snapshot of the week’s milestones and the roadmap for what’s next.
NFT Minted and Distributed
Early participants noticed NFTs started appearing in their wallets on Monday, Feb. 27 as NFTs were minted and distributed and since access to Minterest from now till its public launch requires an NFT.
The first Minterest NFT sale happened shortly after for 1 ETH on the Monday on OpenSea.
Protocol Goes Live!
Last Tuesday afternoon, February 28, 2023, the Minterest protocol officially entered the last phase of its Private Launch. All core protocol functions went live including emission rewards,, with TVL pouring in right away.
$1,000,000 TVL Achieved
One day later, on March 1, Minterest attracted > $1,000,000 TVL. Users benefited greatly from the smaller pool of participants, with some markets reporting APYs over 3,000%!
Launch AMA Gains Hundreds of Listeners on Twitter Spaces
The Minterest team wrapped up the week with a truly epic Twitter Spaces, a freewheeling conversation with the management team of JR, Kyn, Veiko, Kevin, Martti and Denis. The event gained hundreds of listeners over the course of an hour, and formed the capstone to a phenomenal first week.
Link to recording is here.
Week in Review
The end of the week saw a flurry of activity on OpenSea, with a growing number of NFT sales and a floor price currently sitting around 0.23 ETH.
The number of protocol users grew 60% over the week.
TVL exceeded $4,500,000 by the end of the first week, marking a highly significant achievement in such a short time
What’s Next?
All eyes start to look towards April as a potential date for the full public launch.
Next developments on the protocol include enabling auto-liquidations and the long-anticipated risk index – the first of its kind.
Minterest Launch FAQs
Excited to start using the protocol? Head over to OpenSea to grab an NFT for access.
Not sure where to start? Access the app here. You can also check out the Minterest FAQ on Gitbook, where you’ll find everything you need to know about:
- Accessing the protocol
- Supplying liquidity
- Borrowing assets
- Minterest NFTs
- Staking
Start with the FAQ, then head to the blog to learn more about the only DeFi protocol with sustainable real yield.
“Minteresting” Fun Facts
To whet your appetite, some Minterest fun facts from the first week:
TVL and Markets:
- First week TVL: $4.5 million+
- 2 markets $1M+ supply (wBTC & USDC)
- Whales swimming to Minterest:
- Top 4 users provide greater than 50% supply,
- Top 10 users provide greater than 90% supply
- Top 3 borrowers account for roughly 50% total borrow
- Top 10 borrowers account for 90% total borrow
- More than 60% of all users borrow
- More than 80% of available supply borrowed
- Current 20% borrow cap set to increase soon
NFT Sales
- 34 total sales
- 1 sale at 1.5 ETH – Level 5 “Sergey Nazarov”
- 2 sales at 1 ETH – Level 7 “Winklevoss Twins” & Level 7 “Roger Ver”
- 1 sale for 1 ETH – Level 8 “SBF”
08, March 2023