The Minterest Points System is live on Taiko
Minterest has introduced a competitive Points System on Taiko that rewards you for taking part in supplying, borrowing, and other activities. By staying active on Minterest, you can accumulate points (aka Mints), improve your leaderboard rankings, and unlock benefits and rewards. Rewards include future drops of MINTY, NFTs, and more.
Why Taiko?
Taiko makes Ethereum faster and cheaper without losing any security or compatibility. It uses zero-knowledge proofs, which means transactions are faster and cost less. Plus, because it’s fully compatible with Ethereum, everything you do on Ethereum can be done on Taiko without any changes. This makes it perfect for the Minterest Points System because it ensures smooth, fast transactions and low fees. This all adds up to a better experience for you.
Taking part and earning Mints
Anyone with a Minterest account can take advantage of the points system. All you need to do is connect your wallet to accumulate Mints and track your progress on the leaderboard.
Users can rack up Mints through a range of activities on Minterest like supplying, borrowing, referrals, and other special tasks.
Supplying
You can earn Mints by supplying assets on the Minterest platform. Mints are calculated based on the amount you lend and for how long. For supplying, you earn 10 Mints per $100 every 24 hours.
Borrowing
Mints can also be earned by borrowing assets. Mints earned are proportional to the amount borrowed. When you borrow, you earn +30 Mints per $100 every 24 hours.
Additional activities
You can accumulate even more Mints through special tasks and events announced periodically for bonus Mints.
We’ll be adding in referrals very soon where you can earn Mints for every new user you refer who joins and participates on the platform.
Coming Soon : Boost your Mints with Minterest NFTs
Coming soon, holding Minterest NFTs will boost the amount of Mints you earn. Higher rarity NFTs increase the bonus Mints earned.
Note: All Minterest NFTs are valid, even if their NFT boost period has expired.
NFT Bonus Mints
How the leaderboard works
Ranking
Your leaderboard ranking is based on the total Mints you have accumulated. The more Mints you earn, the higher your rank.
What’s displayed on the leaderboard?
The leaderboard shows the following metrics:
- Rank: Your position on the leaderboard.
- Total Mints: The cumulative Mints you have earned.
- Daily Mints: Mints accumulated in the last 24 hours.
How often is the leaderboard updated?
The leaderboard is updated every 24 hours at 6 AM UTC to reflect the latest Mints and rankings. Check regularly to see your updated position.
Rewards
Redeeming your Mints
Mints can be redeemed for rewards in future. Rewards will include:
- Tokens or benefits.
- Access to exclusive features or tiers on the Minterest platform.
Bonus Mints
At certain times, you can earn bonus Mints or multipliers to boost your Mints. Stay tuned to Minterest for announcements!
Invite your friends
Soon we will be adding a referral program which will let you earn extra Mints by bringing your friends to the platform. Mints will be awarded when the friends you refer actively engage in supplying and/or borrowing.
How to check your Mints
To check your ranking and Mints on the leaderboard, follow these steps:
- Click on “Connect Wallet” on the Minterest App.
- Select your wallet and authorise the connection.
- Select your network.
- Once connected, go to the “Points” menu to view your current ranking and Mints.
Common questions
How do I start earning Mints?
Simple. Connect your wallet to Minterest and start supplying, borrowing, and taking part in other activities to accumulate Mints. The more you participate, the more Mints you earn.
My Mints are not updating. What should I do?
Ensure your wallet is correctly connected. If the issue persists, contact Minterest support. We’re always happy to help!
Expanding to other chains
While the Points System is currently live on Taiko, we plan to extend it to other chains very soon. This will allow more users across different platforms to benefit from the rewarding system Minterest offers.
Conclusion
The Minterest Points System on Taiko is designed to reward your active participation on the platform. This system not only keeps the community active but also makes your experience more rewarding.
Earn Mints, climb the leaderboard, and unlock rewards like MINTY tokens and exclusive NFTs. Start earning, and see how you can maximise your returns with Minterest.
Got questions? We’d be happy to answer them on Telegram, Discord or Twitter.
09, July 2024