2021-11-24 14:10:15
Now that early sign-ups have closed, we're so excited to finally be able to announce some huge news that's we've been sitting on all week.
Are you ready?
The Minterest Token Distribution begins 25 Nov!
It will consist of two subsequent phases:
*Phase 1: Community Allocation Event with guaranteed lowest token price
01 to 08 Dec 2021 (Whitelisting from 25 Nov to 01 Dec)
*Phase 2: Token Event via LBP (Liquidity Bootstrapping Pool) 15 Dec to 18 Dec 2021
We're so proud to have you with us, and to be able to finally share the news of this Public Distribution with you. Let's get ready to experience #NextLevelDeFi!
For detailed information, check out our Public Distribution blog post here.
Otherwise, read on for a quick summary of both phases - you'll understand why you as an early community member should absolutely take advantage of the Community Allocation Event!
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About Phase 1 - Community Allocation Event (01-08 Dec):
The Community Allocation Event is the first stage of the Minterest Token Distribution! We put enormous amounts of effort and time into designing this sale, so as to ensure the community-centric principles upon which Minterest was designed would be upheld. Phase 1 aims to support early supporters (that's you!) without KYC by giving them the chance to secure:
1) a guaranteed and attractive allocation in a sale designed to
favour our community before LBP Token Event launch
2) pegged at a
guaranteed lowest average price of the subsequent LBP Token Event (see for more details)
3) to purchase between
100 - 500 USD worth of MNT tokens
4) in a manner that
minimises gas prices compared to participating in the LBP - you will be able to deposit your allocation via the Ethereum or BSC network, the latter of which offers minimal gas prices.
Whitelisting begins on 25 Nov and ends on 01 Dec 2021. The Community Allocation Event itself will then run from 01 to 08 Dec 2021.
For instructions on how to take part, check out our guide on how to take part in the Community Allocation Event!
If you've participated in early sign-ups for the Community Allocation Event, simply wait for an email from either
[email protected] or [email protected] to land in your inbox! Beware of scammers - always confirm the originating email address! We will not ask for funds in this email, there will only be instructions on how to complete the whitelisting process.
About Phase 2 - LBP Token Event (15-18 Dec):
The Token Event is the second stage of the Minterest Public Sale, and takes place via a Balancer Liquidity Balancing Pool (LBP).
If you're familiar with how an LBP works, you'll know that the token prices generally start high, with downwards price pressure over time due to changing weightages between the native token ($MNT) and the collateral token ($USDC). This means:
Front-running bots, which often drive up token prices in non-LBP token launches, are discentivised from taking part. There is no advantage to buying as early as possible as the price is the highest then. Humans win!
Most commonly, a V-shaped price curve is observed over time. Nevertheless, the Community Allocation Event token price will be pegged to the lowest average price invested in the LBP.
Note that unlike the Community Allocation Event, the Balancer LBP will be on Ethereum network.
For more information on both phases of the Public Sale, check out our detailed blog post here!
Thank you for your support - we're so excited to have you with us! See you at the #NextLevel!
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*subject to jurisdiction restrictions.
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