Introducing the new chain: Minterest launches on Taiko
Minterest continues its mission to enable cross-chain lending and unify fragmented liquidity through cross-chain lending., Minterest is launching on Taiko, a new Layer 2 solution on Ethereum. This launch represents an important step in our journey to provide streamlined, high-potential yield decentralized lending services across multiple blockchain ecosystems. Here’s everything you need to know about Taiko and why this partnership matters for our users.
What is Taiko?
Scalability and efficiency
Taiko leverages ZK-Rollups to help increase transaction throughput and lower gas fees. This can make transactions faster and more cost‑effective, addressing one of the critical limitations of the Ethereum network.
Security and decentralization
Taiko’s architecture includes a unique contestation mechanism, designed to help safeguard data integrity even as transactions are processed off-chain. Its commitment to decentralization is evident in its permissionless structure, allowing a wide range of validators and proposers to participate, supporting a secure and open network.
Compatibility and flexibility
Taiko maintains full compatibility with Ethereum, making it easier for developers to migrate existing dApps and leverage Taiko’s enhancements without rewriting code. This smooth integration is a significant advantage for expanding the Minterest ecosystem.
Innovative model
Taiko’s economic model involves transaction fee adaptations for its L2 network, with a focus on maintaining economic balance and fairness through staking mechanisms. This supports both scalability and security, aligning incentives with the network’s health.
The Vision Behind Taiko
Taiko was founded by Daniel Wang and Matthew Finestone, both of whom previously worked together at Loopring. With a mission to solve Ethereum’s scalability issues while maintaining full Ethereum-equivalence, Taiko has conducted multiple successful testnets and secured substantial funding to prepare for its mainnet launch.
Community and Partnerships
Taiko’s ecosystem includes strategic partnerships with various blockchain projects and technology companies, such as Dojima Network, SuperScalar, and Blockscout, to name a few. These collaborations enhance Taiko’s infrastructure, enabling seamless integration and interaction across different blockchain environments.
What This Means for Minterest Users
By launching on Taiko, Minterest users can expect several benefits:
- Lower fees and faster transactions: Taiko’s efficiencies could help users pursue higher yields through our high-return lending protocols.
- Increased yield: With Taiko’s efficient transaction processing, users can maximize their yields through our high-return lending protocols.
- Enhanced security: Benefit from Taiko’s robust security features, aim to protect your assets and bolster transaction safety.
- Seamless integration: Continue to use Minterest’s platform without any disruptions, thanks to Taiko’s Ethereum-equivalent compatibility.
- Zero-Knowledge Proofs: Taiko uses zero-knowledge proofs to validate transactions off-chain. This cryptographic method allows the network to prove that transactions are valid without revealing any specific details about the transactions themselves, supporting privacy and efficiency.
- ETH as gas token: Taiko utilises Ethereum’s native gas token to pay for on-chain fees, which can reduce friction for Ethereum mainnet users to bridge their assets and utilise the chain.
Join us on Taiko
We’re excited to bring Minterest’s high-yield decentralized lending services to the Taiko network. This partnership marks a new chapter moving towards broader cross‑chain lending that aims to offer competitive long‑term yields for Minterest users. Stay tuned for more updates and be sure to check out Taiko’s innovative features and how they enhance the Minterest ecosystem.
More information on Minterest’s deployment to Taiko is available on the Minterest Gitbook.
Explore Taiko and get ready to experience a new level of decentralized finance with Minterest. Join our community on Telegram, Discord, and Twitter to stay up to date with the latest news and updates.
Accessing Taiko requires software, bridges and infrastructure operated by independent third parties. Minterest does not control or audit these services and is not liable for downtime, contract upgrades, or loss of assets resulting from their use. Please perform your own due-diligence and proceed at your own risk. Statements about throughput, fees, yields, security, timelines, and user benefits are forward‑looking goals based on current design. Actual results depend on network conditions, governance decisions, and market factors and are not guaranteed. Nothing herein constitutes financial, investment, legal, or tax advice.
27, May 2024
