What is Minterest

What is Minterest - Corporate Press Release - News

Minterest is a blockchain cross-chain DeFi lending protocol that redistributes 100% of the value captured back to users. The platform thrives by incentivizing users through its comprehensive reward system. The Minterest protocol collects high transaction fees through its lending protocol. As a result, the platform is able to reward back its long-term users by redistributing the long-term stakers within its ecosystem. 

The platform is well known to provide the highest long-term yields in the Decentralized finance space. The Technical innovation of the protocol is actualized through DeFi’s first liquidation engine, enabling the Minterest protocol to capture significantly more fees than any other DeFi protocol

The Minterest protocol continues to improve as the Engineering continues to build. The team has introduced analysis tools for the solvency engine. The engineering team also upgraded the ecosystem to support the Mantle Tectonic upgrade with several advanced features to improve the protocol

By enabling Minterest’s upgrade to support the Mantle V2 migration, the protocol can now support high volumes of transactions, increasing borrowing capabilities. These developments have continuously improved user experience and built trust among existing and new users. 

Explaining Tokenomics and Governance of MINTY

According to Minterest’s whitepaper, the protocol accumulates dees in the form of tokens and its various pool reserves. The tokens collected as transaction fees are accumulated and, later on, converted to MINTY tokens that are used to reward protocol contributors. 

The accumulated fees are converted to stablecoins to avoid price volatility. The MINTY tokens are then redistributed to staked users through a “dripping sequence.” The dripping sequence is applied almost hourly, as opposed to a lump sum, to prevent users from faking activities on the network

Use case of Minterest

The Minterest protocol provides a variety of functionality within the blockchain world. The platform’s core functionality can be classified as supply, receipt token, market, withdraw, transfer, borrow, and repay. 

Users will provide liquidity access to the Minterest protocol via the user interface or through the API through the Ethereum blockchain. The protocol directs the liquidity asset to the correct pool and issues a receipt token. Each token asset type supported by the protocol is in a separate pool, and each pool has its own independent interest rate. 

The users can choose to withdraw their supplied liquidity; the receipt token is used to calculate the earned interest. The receipt tokens can be transferred between wallets. In order to Borrow and Pay, users need to provide collateral to access borrowing the underlying asset. 

Team and Backers

The Minterest protocol has received backing from several industry players, boosting their credibility; currently, the platform enjoys partnerships with NGC, CMS, BitScale Capital, KRI, London Real Ventures, and KOL Capital, among others. 

Based on the high number of backers, the Minterest team has amassed recognition within the crypto and Web3 space; the platform offers high-yield APYs that are becoming increasingly attractive to investors. For a chance to stake, borrow, and earn with Minterest, visit their Website for more information.