Fairness and transparency are some of the foundational principles of the decentralized finance (DeFi) space. Unique DeFi lending protocol Minterest has new plans to embody these principles.
In line with this, Minterest has disclosed plans to launch a new and unique token distribution mechanism. According to reports, the distribution mechanism will ensure token distribution is more equitable. Interestingly, this is in line with Minterest’s goal of facilitating a fairer DeFi ecosystem.
The unique distribution event, dubbed ‘Liquidity Bootstrapping Pool (LBP)’ is currently available via Minterest official website and Copper. The event will provide users with the best available prices for their tokens. Therefore, ensuring fairness and equity.
More on Minterest Liquidity Bootstrapping Pools (LBPs)
The new Liquidity Bootstrapping Pools (LBPs) token distribution mechanism will reduce the entry barrier into the DeFi space. While ensuring token prices remain fair and market-driven. This means that token prices will come from market forces like demand and supply. Thus, making it impossible for third parties to influence the prices of crypto assets.
Speaking on the introduction of LBPs, Josh Rogers disclosed that while lending protocols have intrinsic value these values are usually available to end-users. However, Minterest focus is on putting an end to this. Ensuring the decentralized finance (DeFi) space becomes “[…] fairer and more inclusive.” LBPs will help “[…] remove the barriers and inequality that exists in DeFi today.”
Rogers is the Founder and CEO of Minterest.
Minterest has strategic partnerships with top crypto players like Moonbeam and Chainlink. The DeFi lending protocol has also raised a whopping $6.5 million. Investors like FOMOcraft, CMS, KR1, DigiStrats, Bitscale Capital, PNYX Ventures, etc took part in the funding round.
Minterest is a unique value-capturing lending and borrowing protocol. With a focus on facilitating global adoption of the DeFi space via its fair reward system and decentralized money markets. When compared with other DeFi protocols, Minterest distribution system stands out. This is because all of its accrued rewards are remitted to its active community members. Also, its liquidation process is solely governed by the protocol with zero input from external bodies or third-party individuals.
In conclusion, at the time of writing, the decentralized finance (DeFi) space has a market cap of $119,524,869,246. This rapidly increasing space requires more user inclusion. And as Rogers points out, Minterest is “[…] thrilled to be introducing new innovation and leading with a game-changing model and look forward to bringing DeFi to the next level.”
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