We know what you have been waiting for, and now it is finally here! Algomint is thrilled to announce its testnet launch today. On September 3rd, you can go to https://testnet.algomint.io to try it out!
Step-by-step guide for preparation
On the testnet, you can now try out the KYC process, add Algomint tokens to your Algorand wallet, and mint/burn testnet goBTC and goETH tokens with testnet BTC and ETH. A detailed step-by-step guide to help you prepare the testnet Algorand wallet and tokens can be found here.
Upcoming Q&A on the Algomint YouTube channel
The Algomint development team will provide a presentation on the testnet and introduce future plans in an upcoming live videocast Q&A which will take place on the Algomint YouTube channel. Set a reminder for yourself and share it with your friends! The presentation will take place during the following times:
· Monday, 6th September at 11am AEST
· Sunday, 5th September at 9 pm EDT
Set a reminder for yourself here.
If you have in-depth questions for the Q&A, please ask them by replying to the Tweet. Your opinion is valuable to us, and the engineering team would be thrilled to hear about any feedback/bugs/improvement ideas via this feedback form. We would also like to invite you to join our Telegram Group for discussion with the community and to share your experiences.
About Algomint:
Read the Hello World press release for the full background of Algomint or watch this explainer video. The Algomint dApp provides a bridge between Algorand and other blockchain ecosystems, allowing users to seamlessly transfer assets back and forth. With several dozen dApps being built on Algorand and set to be released in the coming months, the need for an equity bridge is clear.
Once an asset has been minted on Algomint, it acquires all the native features of ASAs (Algorand standard assets) which include: transaction fees of just ALGO$0.001, 4.5 second transaction times, scaling to 46,000 transactions per second, and instant finality. At present Algomint can mint goBTC, goEth, and goMNT while locking your original asset on a 1:1 ratio in a secured 3rd party custody vault. In providing this bridge Algomint will make Algorand more accessible than ever to all crypto users, opening up exciting growth opportunities for the entire ecosystem.
Algomint was co-founded by Michael Cotton and AJ Milne who bring with them a wealth of DeFi experience having invested in countless Algorand projects as well as being the founders of Meld Gold. “For us it was a no-brainer to bring a digital assets minter onto the Algorand platform,” said Michael Cotton. “Algorand offers low costs, lightning-fast speeds, no forking, scalability, instant finality, native atomic swaps, carbon neutrality, decentralization, proven reliable tech, security and a trusted network.”
At present only 1% of Bitcoin equity is working in the DeFi network, signifying how underutilized digital assets are and the enormous room for growth that exists. Algomint provides new opportunities to bring this equity into the market and allows Bitcoin and Ethereum users to make the transition to Algorand.
🌍 Website: Algomint.io
