Minterest deploys to Moonbeam
Friday, November 5, 2021
Minterest deploys to Moonbeam with plans to create new opportunities for the Moonbeam community and they selected it because of the good network security, minimal gas fees, all of the Polkadot functionalities, and more.
Minterest, a value-capturing lending and borrowing protocol designed to make DeFi fairer for users, has announced that it will be deployed on Moonbeam, an Ethereum-compatible smart contract parachain on Polkadot.
Moonbeam will provide recognized world-class technical support to assist with the protocol’s migration, while, in turn, Minterest will act as a magnet for attracting liquidity onto Moonbeam’s parachain. In joining the Moonbeam ecosystem, Minterest is also committing to creating opportunities specific to the Moonbeam community, allowing them to engage with, and benefit from, the protocol.
Minterest deploys to Moonbeam
"We have made a significant step forward in choosing to build on Moonbeam. After undertaking an extensive and strategic assessment of Minterest’s options, it became clear that Moonbeam was the perfect deployment destination, and by far the best fit for the next phase of the protocol’s development. Moonbeam’s developer-friendly approach and ability to provide a gateway to Polkadot and all of its native assets are just some of the reasons we chose Moonbeam," said Josh Rogers, CEO, and Founder of Minterest.
Created by industry leaders to service billions in total value locked (TVL), Minterest is the world’s first lending protocol that captures 100% of the value from interest, flash loan and liquidation fees which then get passed on to users. Unique features include an automated on-chain liquidation process and a buy-back mechanism that automatically passes on revenue to contributing platform users.
Moonbeam has made significant contributions towards the development of Polkadot’s EVM and boasts an impressive ecosystem, with over 70 projects committed to building on the platform.
"By launching on Moonbeam, we are able to offer our users a product that combines the best of both worlds. Since Moonbeam is built on Polkadot, we gain instant access to world-class network security, low gas fees, and all the functionality that Polkadot brings. At the same time, Moonbeam’s compatibility also enables our users to seamlessly access the protocol via existing Web3.0 wallets," said Rogers.
"As DeFi protocols mature, they are being measured with some of the same financial metrics used to measure traditional company performance. One of these metrics is protocol revenue. Minterest's approach to distribute all protocol revenue back to token holders is both unique and in keeping with the spirit of Web3. We are looking forward to supporting the Minterest team in growing their DeFi ecosystem on Moonbeam," said Derek Yoo, Founder of Moonbeam.
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