Many of you have been eagerly awaiting updates regarding the listing and liquidity of the MNTE token.
As you know, the listing of MNTE on an exchange is a critical milestone for Mintera’s success. Today we’ll discuss this upcoming event and our plan to make it happen in the best possible conditions.
The introduction of liquidity is a very significant event in a token cycle. A successful launch can greatly accelerate a project’s growth, while an unsuccessful attempt can severely damage a project’s success.
Ensuring a successful launch is paramount, which is why we’ve thoroughly explored our options.
After careful analysis of the market, our current situation, and testing on DEXs and CEXs over the past few weeks, we have made the decision to postpone the listing. We have based this decision on three primary reasons.
- The first reason is suboptimal timing. August 1st falls during a period when many people are on summer vacations, which could lead to lower participation and impact the initial market response to the listing.
- Secondly, we recognize the need for further community growth before proceeding with the exchange listing. We believe that building a stronger and more engaged community is vital to ensure a successful launch.
- Finally, concerns over liquidity issues have led us to take a cautious approach. It is crucial to ensure that there is sufficient liquidity available when the MNTE token is listed to prevent potential negative impacts on the market.
We understand that this change in plans may be disappointing to some, and we apologize for any inconvenience this may cause. However, we firmly believe that this is the only viable decision and will ultimately contribute to the long-term success of the project.
To ensure that we list MNTE at the right time and under the best conditions, we have developed a comprehensive plan. Here are some of the actions we will be taking before and during the token listing.
Community Rewards
We will be conducting a series of airdrops to show our appreciation to early adopters and MNTE holders.
The first airdrop will be a huge one and will reward everyone who participated in our token sale rounds. More details about the airdrop will be shared with the community in the coming days.
In addition, bonuses will be offered on the Green Mining Yield (GMY) product to further incentivize community participation.
Price Support Mechanisms
In order to stabilize the token price and create a healthy market environment, we will conduct periodic buybacks and burns.
To this end, we will reserve a percentage of Mintera’s mining revenue to periodically buy back MNTE tokens from the market and burn them. This will serve two purposes:
- Provide positive price support for MNTE through token purchases.
- Make MNTE deflationary by reducing the overall supply through token burns.
We’re also exploring market making opportunities through partner firms and/or algorithms on decentralized markets. The goal is to provide high liquidity, volume and improve the trading experience.
Finally, Mintera is starting a process to raise funds in a more “traditional” way against equity (VC funds & business angels).
If this process is successful, we plan to use a portion of the funds raised to ensure that more than sufficient liquidity is deployed and successful market making operations.
What’s Coming
We have exciting developments on the horizon.
A new token sale system is currently being designed to improve the efficiency and accessibility of upcoming sales directly through the Mintera App.
We are also working on compliance enhancements, including user accounts and a KYC system to improve security and allow users to seamlessly access the Mintera App.
In addition, the V2 of the Green Mining Yield product is underway with an ETA around Q3-Q4 2023. It will provide significant flexibility and user experience improvements.
Timeline
We’ve had an ambitious roadmap since Mintera’s inception. As much as we want to keep moving as fast as we can, we try to be realistic about future progress based on our experience.
We fully expect to implement everything detailed in this article before 2024, and many things during Q3 2023.
Based on this new strategy, we’re now expecting MNTE to be listed on exchanges in Q4 2023.
We will continue to work as hard as we can to consolidate our existing ecosystem, provide reliable revenue through existing and future investment products, and implement any other aspects of our roadmap not detailed in this article.
Rest assured that our commitment to building a strong community, providing price support, and enhancing liquidity remains unwavering, and we will continue to keep you updated throughout this journey.
We appreciate your understanding and support as we strive to create a robust ecosystem for Mintera and its community.
