Dear Minterans,

Last week, on Friday the 20th, we successfully completed the Early Adopters Airdrop on the Arbitrum network using our custom multi-send smart contract. All participants in the MNTE token sale received an amount of tokens equal to their purchases, effectively doubling their MNTE holdings.

Since then, we understand that some concerns have been raised within the community regarding the airdrop and its impact on our GMY staking product, and we would like to address them in this article. We appreciate your feedback and your passion for the ecosystem we are working hard to build.

First, we would like to remind you of the goals of the Airdrop.

Objective 1: Reward Our Early Adopters

The primary goal of this airdrop is to say a heartfelt thank you to everyone who’s put their trust in Mintera as we’ve built the foundation of the project. This airdrop serves as a tangible token of our appreciation.

Our airdrop of MNTE tokens was designed to recognize and reward early adopters and MNTE investors, especially those who supported us in the early stages. The airdrop doubled the amount held by MNTE buyers and better rewarded early supporters.

Objective 2: Lower the Barrier to Entry for the GMY Product

We know that some of you were concerned about the minimum investment of 2500 MNTE that is currently set within the GMY smart contract. This airdrop was also a way to lower the barrier to entry, allowing smaller holders to reach the 2500 MNTE limit. We believe this will allow many new users to participate in GMY.

Objective 3: Responsible Distribution of Remaining MNTE Tokens

The final goal was to distribute the remaining supply of our MNTE tokens. We have just begun the distribution process of the total 65M supply of MNTE according to the tokenomics of our white paper. This airdrop helped speed up the process.

Impact on the GMY product

The Distinction Between MNTE Holdings and the GMY Product

First, it is important to understand the difference between the MNTE utility token and our GMY staking product. While MNTE is used to stake within GMY, it is bigger than just GMY. It is intended to be the utility token of the ecosystem, a means to access all current and future products within our ecosystem, with a value that will soon be freely determined by the secondary market.

The airdrop has effectively increased the MNTE holdings of all buyers, which was our goal. In order to keep our GMY rewards sustainable, we had to rebalance the rewards system proportionally.

Ensuring the sustainability of GMY rewards

We understand that the primary concern has been regarding the reduction in GMY rewards when calculated per individual token.

While our goal was to reward early adopters, we also wanted to ensure that our GMY product could continue to generate rewards as it has since launch, despite the unfavorable market conditions we’ve experienced since Mintera’s launch. In order to do this, we have reduced the rewards of the GMY product, calculated per token, in proportion to the airdrop distributed. As a result, every user who bought MNTE and staked it in GMY will receive the same rewards as before, provided they stake their airdrop.

These adjustments were made to ensure the sustainability and fairness of the GMY staking product, especially in the context of the current market conditions, so that the performance remains the same for all MNTE buyers.

Furthermore, all participants in a previous Round that have profited from lower prices received rewards that mirrored their purchase, effectively distributing tokens at these lower prices. The result: the earlier you participated in the MNTE sale, the more beneficial the airdrop is for you. We believe that this is a fair way to reward our early adopters.

Mintera’s commitments

As we move forward, we want to reaffirm our core value, and to prepare everyone for the roadmap ahead in a more transparent way.

We focus on long term sustainability

We want to emphasize that every decision we make is made with the long-term viability of Mintera in mind. From the very beginning, we have emphasized that we are here to build a sustainable ecosystem that can withstand any market condition over the long term. It is no secret that launching a DeFi project is complex, but long-term sustainability is a core belief that we strive to incorporate into all decisions we make, including this one.

We will release a public roadmap this week

We understand that what we are working on is not always clear from the outside, and that our project can sometimes be complex to understand. To provide more transparency about our work, and to increase trust and accountability, we plan to release a public roadmap this week that will detail key short- and medium-term milestones.

This will include a firm official date for the listing of MNTE on the secondary market, a milestone that we believe will help alleviate concerns about MNTE liquidity and promote healthier market dynamics. We are working to make this happen as soon as possible.

We hope this roadmap will demonstrate a solid plan for the future, and we look forward to discussing it with the community.

Finally, we would like to thank all of you who have been with us since the early days of Mintera. Your trust and support are invaluable to us and a key factor in our progress.

Yours truly,

The Mintera Team