Minterest HODLers Gain a 50% Uplift in MNT Proportion
A tokenomics update: January, 2023
Minterest HODLers will receive a 51.7% uplift in their proportion of total circulating supply due to a tokenomics update announced today.
A streamlined improvement of Minterest tokenomics will result in a total circulating supply reduction from 100 million MNT to just less than 66 million. Emissions now occur largely over 5 years, with only 1.3% of supply via Standard Emissions, vesting over the 6th year.
The streamlined, more efficient tokenomics achieves all of Minterest’s original design needs; allowing the protocol to develop a fully self-sustaining, self-funding token economy.
Users retain all their MNT allocation
All MNT holders retain the same number of tokens. The marked reduction in circulating supply delivers a major boost to all current allocations, since the proportional value of existing token allocations has increased by over 50%.
Lock & Load
Supporters who opted into Lock & Load reap extra benefits. With the tokenomics update, allocations doubled with Lock & Load add a further 51.7% increase to their relative, newly doubled value.
Minterest’s self-sustaining model is better than ever
Nothing in the revision changes the long-term goal – to create a sector-leading, self-sustaining DeFi protocol. The changes tighten tokenomics, shorten the overall emissions schedule, and generally make things simpler and easier to understand.
Josh Rogers CEO of Minterest said, “After taking a short Christmas break, I reviewed tokenomics with fresh eyes and realised Minterest could achieve the same result more efficiently while delivering a great result for Minterest supporters. My only regret is I didn’t see it earlier.”
Updating the tokenomics requires amendments to the protocol’s vesting contracts. Private Launch will be rescheduled next month to enable this to occur. The final date depends on completion of Minterest’s final security audit, now expected to occur in the latter half of February.
The revised Private Launch schedule only marginally impacts other key roadmap events, like the protocol’s DAO and final interface roll-out and Minterest’s Public Launch, which are progressing to schedule.
Commenting on Minterest’s schedule, Josh Rogers stated, “After more than 2 years, 50,000 hours and 15 million build cost, Minterest is essentially complete. It is heads and shoulders above anything previously conceived, a true standout for DeFi. Streamlining tokenomics just as FUD moderates across the sector places Minterest in a powerful position heading towards launch.”
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