Tied to the U.S. dollar, fees will be one major thing to change once Minter 2 goes live ($0.01 for transfers, $0.03 for swaps, and $10 to $100,000 for creating coins).
Another is the ability to pay them with mirrored coins from other blockchains (USDT, USDC, wBTC, and others).
But how will the new economic model impact the earnings of validators and their delegators?
Learn More: https://medium.com/@MinterTeam/economics-of-minter-2-440aa09cb0fa
Another is the ability to pay them with mirrored coins from other blockchains (USDT, USDC, wBTC, and others).
But how will the new economic model impact the earnings of validators and their delegators?
Learn More: https://medium.com/@MinterTeam/economics-of-minter-2-440aa09cb0fa
Medium
Economics of Minter 2
How will Minternomics transform after the release of Minter 2?
As the team was directing all of its attention to getting Minter 2 and Minter Hub ready, January was a short yet very productive month.
Our latest round-up covers the process of sending coins from Minter to Ethereum and vice versa as well as a number of other dev-related details.
Our latest round-up covers the process of sending coins from Minter to Ethereum and vice versa as well as a number of other dev-related details.
Medium
Minter’s Month in Review — January 2021
January was a short, but very productive month for Minter. The main effort was focused on the development of Minter 2 and Minter Hub…
Minter 2 for traders
Once Minter 2 is live, you’ll be able to trade in leading cryptocurrencies and assets from any wallet of the network in a decentralized way, keeping complete control over your funds.
As always, Minter will have a number of advantages compared to other blockchains, e.g.:
– Very fast transactions (less than 5 seconds), which is especially important in trading
– Low fees: 3 cents per exchange + 0.2%
– Tokens at prices close to the market ones
– Wide choice of cryptocurrencies, tokens, and assets—from BTC and ETH to Tesla shares and oil
Even a $10 trade can be profitable as the fee will only be 5 cents. In case of arbitrage, you can already make profitable exchanges if a Minter-mirrored asset is trading at least 1% above/below the market.
By using the bridge to the Ethereum network (Minter Hub) and sending a single transaction, you can order liquidity of any volume.
For BIP holders and stakers, it all means additional demand and rewards due to the substantial increase in the amount of collected fees.
Yes, centralized exchanges charge lower fees (say, 0.1%). But you can never be sure that there’s been no wash trading or front-running before your order. Besides, many people have trouble withdrawing their funds, especially when things get bullish. And that’s not to mention hacks.
Once Minter 2 is live, you’ll be able to trade in leading cryptocurrencies and assets from any wallet of the network in a decentralized way, keeping complete control over your funds.
As always, Minter will have a number of advantages compared to other blockchains, e.g.:
– Very fast transactions (less than 5 seconds), which is especially important in trading
– Low fees: 3 cents per exchange + 0.2%
– Tokens at prices close to the market ones
– Wide choice of cryptocurrencies, tokens, and assets—from BTC and ETH to Tesla shares and oil
Even a $10 trade can be profitable as the fee will only be 5 cents. In case of arbitrage, you can already make profitable exchanges if a Minter-mirrored asset is trading at least 1% above/below the market.
By using the bridge to the Ethereum network (Minter Hub) and sending a single transaction, you can order liquidity of any volume.
For BIP holders and stakers, it all means additional demand and rewards due to the substantial increase in the amount of collected fees.
Yes, centralized exchanges charge lower fees (say, 0.1%). But you can never be sure that there’s been no wash trading or front-running before your order. Besides, many people have trouble withdrawing their funds, especially when things get bullish. And that’s not to mention hacks.
Forwarded from DeCenter – Blockchain and Bitcoin
Investors believe in DeFi with low fees!
🚀 After the announcement of decentralized trading’s arrival with the release of new Minter 2, BIP skyrocketed +200%, making it to the list of top gainers on CoinMarketCap.
In an upgraded blockchain, BIP will be used as a primary token when paying fees for exchanging leading cryptocurrencies (BTC, ETH, UNI, LINK, and many more) via pools, with the block time of up to 5 seconds and millions of transactions processed daily. Given the unpredictable nature of growth in Ethereum trading fees, Minter stands out by offering the constant fee of $0.03 and 0.2% charged by the pool per each trade.
Those willing to purchase BIP can do it, for example, at Bithumb Global.
🚀 After the announcement of decentralized trading’s arrival with the release of new Minter 2, BIP skyrocketed +200%, making it to the list of top gainers on CoinMarketCap.
In an upgraded blockchain, BIP will be used as a primary token when paying fees for exchanging leading cryptocurrencies (BTC, ETH, UNI, LINK, and many more) via pools, with the block time of up to 5 seconds and millions of transactions processed daily. Given the unpredictable nature of growth in Ethereum trading fees, Minter stands out by offering the constant fee of $0.03 and 0.2% charged by the pool per each trade.
Those willing to purchase BIP can do it, for example, at Bithumb Global.
Forwarded from Minter Dev Notifications
⚛️ Cosmos SDK Security Patch by Minter Team
While developing Minter Hub, we located a critical bug in Cosmos SDK: a malicious actor could halt the operation of any public node with a 100-percent guarantee. We reported the issue in detail and informed Cosmos developers of our finding. Their team has released an update to eliminate this vulnerability:
https://github.com/cosmos/cosmos-sdk/releases/tag/v0.41.1
"This release includes two security patches, and does not introduce any breaking changes. It is highly recommended that all applications using v0.41.0 upgrade to v0.41.1 as soon as possible."
Our core team has been actively contributing to the Tendermint development since the very beginning: 6 issues, 1 global architecture proposal, 7 pull requests. And now we are excited to have the opportunity to help improve Cosmos SDK, too.
P.S.: Since Minter blockchain does not utilize Cosmos SDK, the identified problem does not affect it.
While developing Minter Hub, we located a critical bug in Cosmos SDK: a malicious actor could halt the operation of any public node with a 100-percent guarantee. We reported the issue in detail and informed Cosmos developers of our finding. Their team has released an update to eliminate this vulnerability:
https://github.com/cosmos/cosmos-sdk/releases/tag/v0.41.1
"This release includes two security patches, and does not introduce any breaking changes. It is highly recommended that all applications using v0.41.0 upgrade to v0.41.1 as soon as possible."
Our core team has been actively contributing to the Tendermint development since the very beginning: 6 issues, 1 global architecture proposal, 7 pull requests. And now we are excited to have the opportunity to help improve Cosmos SDK, too.
P.S.: Since Minter blockchain does not utilize Cosmos SDK, the identified problem does not affect it.
Minter Network
⚛️ Cosmos SDK Security Patch by Minter Team While developing Minter Hub, we located a critical bug in Cosmos SDK: a malicious actor could halt the operation of any public node with a 100-percent guarantee. We reported the issue in detail and informed Cosmos…
The Minter FM radio sat down with Daniil Lashin, our lead developer who, by the way, was the one to report a critical Cosmos SDK vulnerability.
https://youtu.be/9-Zyc5oHoyk
Learn more about the Minter 2 upgrade, its advantages over other blockchains, and Daniil's career as well as his take on mining, software engineering, and self-searching during the pandemic.
https://youtu.be/9-Zyc5oHoyk
Learn more about the Minter 2 upgrade, its advantages over other blockchains, and Daniil's career as well as his take on mining, software engineering, and self-searching during the pandemic.
Minter Development Foundation plans partial or even full burn of funds that it will have accumulated by the time network upgrades to Minter 2.
The total amount to be burned will be up to 400 million BIP, which roughly translates to $3.2 million at the time of writing.
Large traders believe this move will have a healthy impact on the network’s economy in general.
The burn will not affect the coins that belong to users. It is about the Team’s funds that Minter Development Foundation has been receiving as a fee on every block since blockchain was launched.
In times when governments around the world are actively printing their national currencies and reducing the purchasing power of money as a result, our community needs to pick an understandable and concrete path of strengthening the Minter economy so that as many users as possible want to join it.
This news is being updated.
The total amount to be burned will be up to 400 million BIP, which roughly translates to $3.2 million at the time of writing.
Large traders believe this move will have a healthy impact on the network’s economy in general.
The burn will not affect the coins that belong to users. It is about the Team’s funds that Minter Development Foundation has been receiving as a fee on every block since blockchain was launched.
In times when governments around the world are actively printing their national currencies and reducing the purchasing power of money as a result, our community needs to pick an understandable and concrete path of strengthening the Minter economy so that as many users as possible want to join it.
This news is being updated.
Forwarded from Minter Dev Notifications
Binance Smart Chain @ Minter Hub
Transaction costs on the Ethereum network keep breaking new records: up to $100 for exchange operations and up to $20 for coin transfers.
That’s why the Minter Team has decided to additionally connect the Binance Smart Chain network as part of Minter Hub. This will make digital assets transferable not only between Minter and Ethereum, but between Minter and Binance Smart Chain as well. BSC will also provide Minter users with an opportunity to access even more digital assets.
BSC is based on EVM, which means we’ll be able to use what we’ve already developed for integration. At the moment, we’re running tests to see how compatible the current version of Minter Hub is with BSC.
Transaction costs on the Ethereum network keep breaking new records: up to $100 for exchange operations and up to $20 for coin transfers.
That’s why the Minter Team has decided to additionally connect the Binance Smart Chain network as part of Minter Hub. This will make digital assets transferable not only between Minter and Ethereum, but between Minter and Binance Smart Chain as well. BSC will also provide Minter users with an opportunity to access even more digital assets.
BSC is based on EVM, which means we’ll be able to use what we’ve already developed for integration. At the moment, we’re running tests to see how compatible the current version of Minter Hub is with BSC.
Forwarded from Minter Dev Notifications
Media is too big
VIEW IN TELEGRAM
🚀 Before starting public tests, we’d like to offer you a little sneak peek at cross-chain Minter<->Ethereum transfers.
The magic happening in the video is not just simple in its nature, but also fully decentralized.
The magic happening in the video is not just simple in its nature, but also fully decentralized.
Public Invitation to Minter 2 Testnet (🌮 TacoNet)
We are delivering on our promise! The public tests of Minter 2 start today.
Create pools and add liquidity, build routes with up to 5 coins, issue non-reserve tokens, mint and burn, and if you're a validator, vote whether to change the network fees and set the new ones for your delegators.
For more details, check out Minter Development Foundation's latest announcement, which is already up on Medium.
👏🏻 Don't forget to clap!
We are delivering on our promise! The public tests of Minter 2 start today.
Create pools and add liquidity, build routes with up to 5 coins, issue non-reserve tokens, mint and burn, and if you're a validator, vote whether to change the network fees and set the new ones for your delegators.
For more details, check out Minter Development Foundation's latest announcement, which is already up on Medium.
👏🏻 Don't forget to clap!
Medium
Public Invitation to Minter 2 Testnet (TacoNet)
Minter 2 enters the public testing phase today. This upgrade is major both in terms of code base and ideology…
Many of you have heard that in Minter 2, you’ll be able to store, transfer, and exchange most of the major digital assets (e.g., BTC, ETH, BNB, USDC). But how have we achieved that?
Learn more about how Minter Hub works here:
https://daniillashin.medium.com/minter-hub-bridge-to-ethereum-binance-smart-chain-dd78cde2ad51
Learn more about how Minter Hub works here:
https://daniillashin.medium.com/minter-hub-bridge-to-ethereum-binance-smart-chain-dd78cde2ad51
Medium
Minter Hub — bridge to Ethereum & Binance Smart Chain
Many of you have heard that in Minter 2, you’ll be able to store, transfer, and exchange most of the major digital assets (e.g., BTC, ETH…
🚀 Minter 2 has been scheduled to launch on April 12, 2021.
🧑🚀 On that day sixty years ago, man entered space. And we are starting our journey into other blockchains.
#poyekhali #minter2 #bipx
“Poyekhali!!” With that one Russian word, meaning “Let’s go!” on April 12, 1961, cosmonaut Yuri Gagarin blasted off from the Baikonur Cosmodrome in Kazakhstan to become the first human to travel in space.
Source: NASA
🧑🚀 On that day sixty years ago, man entered space. And we are starting our journey into other blockchains.
#poyekhali #minter2 #bipx
“Poyekhali!!” With that one Russian word, meaning “Let’s go!” on April 12, 1961, cosmonaut Yuri Gagarin blasted off from the Baikonur Cosmodrome in Kazakhstan to become the first human to travel in space.
Source: NASA
💥 BIP's explosive growth, TacoNet's start, new blockchain's addition to Minter Hub, and long-awaited Minter 2's launch date confirmation—our latest round-up covers all that (and even more!).
👏 Don't forget to clap!
👏 Don't forget to clap!
Medium
Minter’s Month in Review — February 2021
❄️ Winter’s last month was really hot. The Team has successfully rolled out public testing for Minter 2…
How to Make Money on DeFi with BIPx
tl;dr: The usual BIP will transform into BIPx on other networks to help you earn in the best DeFi services. No extra knowledge or wallets needed.
If you are not up for a long read, here’s a brief list of features that the BIPx token will have once it goes live on Ethereum and Binance Smart Chain:
– Early participants will be first to get BIPx through transferring their BIP to validators’ multisig addresses at the 1:1 ratio
– It is not a new token, but a ‘mirrored’ one, meaning it represents corresponding BIPs that have been locked in Minter
– With its help, you’ll get access to the new money-making opportunities offered by the world’s leading DeFi services
– It’ll be possible to lend BIPx, make deposits, add to liquidity pools, and use as collateral to take out loans in BTC, ETH, USDT, etc.
– Token will be submitted for listing on both decentralized and centralized exchanges
– Over time, deposit and withdrawal of BIP with conversion into BIPx will become automated and available to everyone
– It can all be managed via regular Minter wallets
– For valuable proposals regarding DeFi services, community members will receive a commission on all completed deals
In a sentence: BIPx will unlock the best of global decentralized finance (DeFi) and help users earn with just one of the Minter wallets at hand.
Learn more on Medium!
tl;dr: The usual BIP will transform into BIPx on other networks to help you earn in the best DeFi services. No extra knowledge or wallets needed.
If you are not up for a long read, here’s a brief list of features that the BIPx token will have once it goes live on Ethereum and Binance Smart Chain:
– Early participants will be first to get BIPx through transferring their BIP to validators’ multisig addresses at the 1:1 ratio
– It is not a new token, but a ‘mirrored’ one, meaning it represents corresponding BIPs that have been locked in Minter
– With its help, you’ll get access to the new money-making opportunities offered by the world’s leading DeFi services
– It’ll be possible to lend BIPx, make deposits, add to liquidity pools, and use as collateral to take out loans in BTC, ETH, USDT, etc.
– Token will be submitted for listing on both decentralized and centralized exchanges
– Over time, deposit and withdrawal of BIP with conversion into BIPx will become automated and available to everyone
– It can all be managed via regular Minter wallets
– For valuable proposals regarding DeFi services, community members will receive a commission on all completed deals
In a sentence: BIPx will unlock the best of global decentralized finance (DeFi) and help users earn with just one of the Minter wallets at hand.
Learn more on Medium!
Medium
How to Make Money on DeFi with BIPx
tl;dr: The usual BIP will transform into BIPx on other networks to help you earn in the best DeFi services…
Forwarded from Minter Dev Notifications
🔗 BIPx Launch Stages
In short: to get BIPx (BIP mirrored on Ethereum and Binance Smart Chain) among the first, one will need to deposit BIP onto the multisig addresses of Minter validators. Those addresses will be created soon. BIPx will be accrued using the FIFO method (i.e., on a first-come, first-served basis). Early participants will have a significant head start.
BIPx Opportunities
- It’ll become a gateway to the new money-making opportunities offered by the world’s leading DeFi protocols
- It’ll be possible to lend BIPx, make deposits, add to liquidity pools, and use as collateral to take out loans in BTC, ETH, USDT, etc.
- Token will be submitted for listing on both decentralized and centralized exchanges
- It can all be managed via regular Minter wallets
1. Preparation
- The top four Minter validators will create two multi-signature addresses on Minter: one for depositing BIP and exchanging it for BIPx on Ethereum, and the other one, on Binance Smart Chain.
- Anyone will be able to send BIP to these addresses in order to receive BIPx on a chosen network.
⚠️ Alert: you can transfer BIP only from a wallet you have a seed phrase to. Do not transfer BIP from third-party services and exchanges; otherwise, you’ll lose access to your funds ⚠️
2. Initial issuance
- Trusted parties (top 4 validators) must ensure that Minter Hub and BIPx infrastructures are operationally ready. After that, they’ll either move the accumulated BIP to the multisig address of Minter Hub or return the deposits.
- BIPx will then be issued on the two networks and gradually distributed. Using the FIFO method (i.e., on a first-come, first-served basis), BIPx will be accrued to the addresses of those who deposited their BIP.
- First votes on placements in DeFi services and listings will follow shortly afterwards.
3. Integration
Integration of hand-picked services into Minter wallets.
4. One-way exchangeability
Once the infrastructure has been debugged, the instant swapping of BIPx for BIP will become available.
5. Unlimited exchangeability
Next, we’ll introduce the ability to fully and freely swap BIP for BIPx and vice versa for the rest of the community.
Learn more about BIPx: https://medium.com/@MinterTeam/how-to-make-money-on-defi-with-bipx-17905b034285
In short: to get BIPx (BIP mirrored on Ethereum and Binance Smart Chain) among the first, one will need to deposit BIP onto the multisig addresses of Minter validators. Those addresses will be created soon. BIPx will be accrued using the FIFO method (i.e., on a first-come, first-served basis). Early participants will have a significant head start.
BIPx Opportunities
- It’ll become a gateway to the new money-making opportunities offered by the world’s leading DeFi protocols
- It’ll be possible to lend BIPx, make deposits, add to liquidity pools, and use as collateral to take out loans in BTC, ETH, USDT, etc.
- Token will be submitted for listing on both decentralized and centralized exchanges
- It can all be managed via regular Minter wallets
1. Preparation
- The top four Minter validators will create two multi-signature addresses on Minter: one for depositing BIP and exchanging it for BIPx on Ethereum, and the other one, on Binance Smart Chain.
- Anyone will be able to send BIP to these addresses in order to receive BIPx on a chosen network.
⚠️ Alert: you can transfer BIP only from a wallet you have a seed phrase to. Do not transfer BIP from third-party services and exchanges; otherwise, you’ll lose access to your funds ⚠️
2. Initial issuance
- Trusted parties (top 4 validators) must ensure that Minter Hub and BIPx infrastructures are operationally ready. After that, they’ll either move the accumulated BIP to the multisig address of Minter Hub or return the deposits.
- BIPx will then be issued on the two networks and gradually distributed. Using the FIFO method (i.e., on a first-come, first-served basis), BIPx will be accrued to the addresses of those who deposited their BIP.
- First votes on placements in DeFi services and listings will follow shortly afterwards.
3. Integration
Integration of hand-picked services into Minter wallets.
4. One-way exchangeability
Once the infrastructure has been debugged, the instant swapping of BIPx for BIP will become available.
5. Unlimited exchangeability
Next, we’ll introduce the ability to fully and freely swap BIP for BIPx and vice versa for the rest of the community.
Learn more about BIPx: https://medium.com/@MinterTeam/how-to-make-money-on-defi-with-bipx-17905b034285
The main ways to buy and sell BIP: https://www.minter.network/how-to-buy-and-sell-bip
www.minter.network
Minter 2 — How to buy and sell BIP?
Forwarded from Minter Dev Notifications
🌮 Minter 1 -> Minter 2: Mainnet Data Migration Test
Starting from block 2 544 192, Taconet has been running on data from the main network. Unlike in previous updates, the numeration didn’t start anew.
We have also created the MNT-USDC liquidity pool and made all fees expressed in the U.S. dollar (here you can find costs for each transaction on the network).
‼️ Reminder: Do not enter your primary mainnet wallet’s seed phrase into the test Console. To view balances and stakes, visit Explorer.
We’ll launch several more validators shortly. To maximize loads while testing, we’ll intentionally put the network in the most challenging environment: validator servers located as far away from each other as possible, weak hardware, etc.
The node’s build and genesis can be accessed here.
Starting from block 2 544 192, Taconet has been running on data from the main network. Unlike in previous updates, the numeration didn’t start anew.
We have also created the MNT-USDC liquidity pool and made all fees expressed in the U.S. dollar (here you can find costs for each transaction on the network).
‼️ Reminder: Do not enter your primary mainnet wallet’s seed phrase into the test Console. To view balances and stakes, visit Explorer.
We’ll launch several more validators shortly. To maximize loads while testing, we’ll intentionally put the network in the most challenging environment: validator servers located as far away from each other as possible, weak hardware, etc.
The node’s build and genesis can be accessed here.
Forwarded from Minter Dev Notifications
Our developer Sergey Klimov sheds light on every change and new feature that will come with Minter 2: https://youtu.be/hUx6rZLD_ok.
Article | Node PR | Documentation PR
Article | Node PR | Documentation PR
📺 Minter + YouTube
Minter is joining hands with crypto bloggers. Lead your own channel devoted to cryptocurrencies and blockchains? Just leave your info, and we’ll get in touch with you for more detail.
📩 Submit Now »
If you don’t have a channel of your own, feel free to share this link with someone you know who does.
Minter is joining hands with crypto bloggers. Lead your own channel devoted to cryptocurrencies and blockchains? Just leave your info, and we’ll get in touch with you for more detail.
📩 Submit Now »
If you don’t have a channel of your own, feel free to share this link with someone you know who does.