Public Mint
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Public Mint

Master your MINT: the MINT token explained

MINT token explained with drawing representing the token
ETH contract address: 0x0cdf9acd87e940837ff21bb40c9fd55f68bba059

→ Trade MINT on Bittrex Global (USDT/MINT, non-US)

→ Trade MINT on Uniswap (ETH/MINT)

When we set out to launch EARN, the goal was to create (for lack of a better term) a new kind of investment fund — one run by the community, and with the collective interests at heart.

Instead of having overpaid Wall Street analysts with vested interests and shady referral commissions calling the shots, we wanted to empower real investors, with skin in the game, to make the decisions on where, how, and for how long to invest their funds.

At the core of our plan stands the MINT token. In a nutshell, the main function of MINT is to give users a voice in the decisions in the system. MINT holders are responsible for the governance decisions, including allocation sizes, destination of funds, and other parameters that affect how the fund works.

It’s important to stress that MINT is not required to participate in EARN. Passive investors who have no interest in actively participating in governance are free to just deposit their USD and will still earn their share of USD profits from the platform.

The second, and equally important, function of MINT is to reward those who use their knowledge to steer the governance of EARN. In addition to whatever returns they receive from their USD deposits, active MINT holders also earn a percentage of the overall earnings of the platform — much like a performance bonus, and a strong incentive to make the best decision for everyone.

This mechanism ensures that incentives for the two groups (passive USD investors and MINT active governance users) are aligned. The more yield the program generates, the happier passive investors will be, the more USD flows into the system — and the more profit MINT holders make per token.

The economics of the MINT token

Here’s a simplified example recently posted on Telegram by Jorge, our CTO which illustrates how powerful an incentive MINT governance can be. (N.B: All numbers and percentages are based on the initial setup of the program laid out on our litepaper.)

Let’s consider for a moment where we hypothetically have an aggregate of $100M in the EARN program, paying an average yield of 10% on USD deposits.

In a year, that would produce 8.5% to the owners of the USD, and the remaining 1.5% would be divided amongst the active MINT governance stakers.

That means distributing $1.5M to those who have MINT, with no inflation of the token (not printing new MINT). This means each MINT token would produce $0.06/year of revenue.

Scale that to $500M in the EARN pool, and it adds up to $6M distributed yearly to the same MINT stakeholders.

Let’s further consider a scenario where at that time 100M MINT tokens are in circulation, many of which sitting idly on exchanges. Let’s say 25M of those are actually locked in governance staking. In this case each MINT would produce a whopping $0.30/year in revenue.

So, we’ve designed MINT to be a token that people will want to have, because it generates revenue for them, not a token they need to dispose of, losing that value by using it for payment of services.

MINT returns calculator

Our amazing supporter and incredibly resourceful NFTSmasher (an independent developer who’s also building the first-ever NFT marketplace on the Public Mint blockchain) has created this neat little unofficial tool to calculate the returns of your MINT holdings given a variety of parameters.

Hats off to you, Han! Keep up the good work.

The future of MINT

So far we’ve discussed what MINT is right now — but there are exciting new possibilities in the future, too. We’re constantly looking for new ideas to increase the utility and value of the MINT token — all without losing track of its primary function in the EARN program, of course.

Here are just a couple of the more concrete ideas we’ve been discussing:

  • MINT loyalty scheme to offer tiered rewards and extra perks for EARN participants;
  • We’re in conversation with independent developers to have MINT holders receive perks or benefits (such as discounts or extra access) while using their independently-built DApps;

In Conclusion

That’s what we have off the top of our heads. Just one caveat: most of these are very early in the ideation process and might never see the light of day. Even if they do, it may take a while.

But the idea that a few of these ideas might work out is what makes us so excited about what we’re building.

What do you think? Which of these ideas appeals to you the most? Can you think of another good use for the MINT token?

Shout out and let us know on Telegram or Twitter. We’re all ears!

Stay strong!

About Public Mint

Public Mint is an open and complete blockchain platform for fiat money, where funds are fully collateralized and held on deposit with regulated, FDIC-insured institutions. Public Mint offers an open, fiat-native blockchain and APIs, ready for anyone to build fiat-based applications and accept credit cards, ACH, wire transfers, stablecoins and more. On top of that, the Public Mint EARN platform offers users automated and diversified returns on USD assets, leveraging the power of blockchain and DeFi.

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