Announcement: Minterest Is Launching on Ethereum
DeFi is now multi-chain, and both Moonbeam and Ethereum are priority networks in Minterest’s roadmap. Following Minterest’s highly successful LBP which closed with a fully diluted valuation exceeding 500 million dollars, significant market feedback has supported the proposition of prioritising Ethereum as the protocol’s launch network, with Moonbeam and other EVM compatible networks occurring later.
A recent strategic review, in conjunction with advisors, liquidity providers and project investors, has resulted in strong support for this direction, so Minterest is now prioritising Ethereum for its initial launch phases.
By launching on Ethereum first, Minterest will have access to greater launch liquidity which will fast track its multi-chain strategy. The ability to attract substantial initial liquidity on Ethereum, supports the accelerated build-out of liquidity on other EVM compliant networks like Moonbeam. It’s a pathway already successfully demonstrated by numerous other protocols.
Last year, the protocol’s underlying technology stack was redesigned, switching from Substrate to Solidity. This provided the protocol with the greatest possible flexibility in its launch options, and by doing so, it has allowed for this current re- prioritisation in the protocol’s multi-chain roadmap.
There are no changes in user features or with on chain liquidations and the
protocol’s automated buyback rewarding governance participation. Minterest NFTs, are all proceeding as detailed in the project’s whitepaper. This will also be the case for other EVM networks like Moonbeam, as Minterest implements its multi-chain roadmap.
Minor amendments to the protocol’s economy, to allow for Ethereum gas pricing, are already underway and will not materially impact the updated launch schedule.
Consistent with Minterest’s commitment to make DeFi accessible for all users, $100 of MNT tokens will be allocated to each wallet used in the Minterest Community Allocation Event, to ensure smaller participants are not adversely affected by Ethereum gas prices. MNT will be priced at $3.21, equivalent to the lowest average price of Minterest’s LBP event.
As stated, the war in Ukraine has had an impact on Minterest’s launch schedule and a new launch date will be announced imminently.