Announcing our Partnership with Minterest: Redefining DeFi

The Minterest protocol enables breakthrough long-term DeFi yields through its buyback mechanism, a world first.

About the Project

Decentralized Finance (DeFi) has been a steadily growing trend recently, with the first lending and borrowing protocols launching and demonstrating their relevance. However, most protocols struggle to build loyal communities, in part because no incentives exist to support long-term use. Also, new protocols often offer more appealing yields at launch, making users continually move their capital from one project to the next.

Minterest aims to address these challenges, the lending protocol will deliver delivers some of the highest long-term yields in DeFi, thanks to its distinctive features:

• As with regular DeFi protocols, Minterest captures interest rate and flash loan fees, and then passes them all back to protocol users.
• The protocol automatically controls the liquidation process through internal smart contracts. As no third-party liquidator is used, 100% of the value is captured by the protocol and shared with its users.
• A dashboard will provide insightful data and views, allowing users to gain a better understanding of their risk profile and make better-informed decisions.

Initially built on Substrate, Minterest will be deployed on MoonBeam Network, an Ethereum-compatible decentralized smart contract platform on Polkadot. Finally, as the protocol’s security and stability is core to their development efforts, Minterest’s DevOps team has recently built a pipeline with code analyzers and security checks.

Tokenomics

The protocol’s economy is governed through the $MNT token:

• As part of an industry-first buyback mechanism, the protocol automatically buys $MNT on-market against platform rewards before passing them on to platform users.
• In a virtuous cycle fashion, the $MNT demand increases as the protocol’s Total Value Locked (TVL) increases.
• Long-term $MNT liquidity providers and governance participants ($MNT stakers) are rewarded for their loyalty through increasing monthly rewards. However, users can at any time withdraw their funds, as there is no time lock.

Therefore, the protocol’s core design increases its odds of long-term success and adoption.

Behind our Partnership

Protocol-hopping has historically been a widespread practice among DeFi users, whose main priority is obtaining the highest yields. Minterest was specifically designed to maximize its platform users’ returns by sharing its various rewards with them, even in the long run. We are proud to have partnered with Minterest given its novelty and inclusiveness, which greatly sets it apart from existing DeFi protocols.

Adam Haklili, WWVentures Founding Partner

Minterest’s focus clearly lies in the long-term contribution to users’ benefits, and the design makes it less likely to be a short-term play upon launch. More than 20K sign ups were reported in the first week of Next Level; Minterest’s community allocation event closing on November 24th. Each sign up guarantees an allocation, and winners will receive an NFT APY boost. For more information, click here.

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DISCLAIMER: Content in this article does not constitute financial advice. Cryptocurrencies are volatile assets. Always do your own research and invest at your own risk.