MINT has been a cornerstone of our new product and the team at Insrt has big plans for developing it into a thriving “stable”-coin backed by positive Expected Value (+EV) betting volume. But first, let’s walk through what any of that means. MINT is tethered and always redeemable to ETH by a ratio of one to one million. We admittedly workshopped microETH (or mETH) for a while but decided in the end not to push “meth” on our users. In any case, MINT has numerous use cases within our burgeoning ecosystem, including giving Insrt players exposure to all revenue streams from future spins on the ecosystem. It’s constantly rebasing as more users spin on the Insrt platform, giving all holders direct revenue streams and allowing everyone to own and profit off of the platform together. With MINT we are trying to redefine how users interact with platforms such as ours and enable every single person in the ecosystem to win together. No matter if you’re spinning, supplying NFTs, or want a potential revenue stream, MINT is a perfect option and will enable you to grow alongside Insrt.
MINT as a points system
MINT introduces a novel concept in the crypto space as the first stablecoin functioning as a points system, backed by Expected Value (EV). With its backing of 1:1 million against ETH, MINT offers a stable and reliable option within the greater, and more volatile, crypto ecosystem. The overcollateralization of MINT is a key feature, providing a reassuring layer of security to its users. At any point you can have confidence knowing your MINT is always redeemable directly for ETH, and there will never be any outflow risks akin to what happened at FTX or any number of DeFi protocols. This is a truly novel mechanism points design within our industry and best aligns all of our users with the growth of our product. Now you are directly incentivized to spread the word and get your friends playing!
Not only that, but your contributions and interactions with the system are tallied and sitting in your wallet, to remain there as a bet on the ecosystem OR to be redeemed if you want some quick cash. This gives you, the user, as much freedom and agency as possible when deciding on what level of engagement you want within the Insrt ecosystem. Of course, we would highly encourage you to engage as much as possible in order to keep those “points'' running up, but it’s important for us that our users aren’t trapped and truly want to be involved. This growth model is not just about increasing numbers; it’s about deepening the user experience and fostering a sense of belonging and contribution among the Insrt community. As users interact more with the platform – whether through betting, contributing content, or simply being active members – the intrinsic value of MINT reflects this heightened activity. This creates a symbiotic relationship where users are incentivized to promote and grow the platform, knowing their efforts are mirrored in the value of their holdings.
How do you get entry to MINT?
Gaining entry to MINT is designed to be an engaging and rewarding process for users on the Insrt platform. The primary way to earn MINT is through active participation in the platform's various games and activities. Every time you play, you earn MINT, making your gaming experience not just fun but always rewarding.
MINT is automatically rebased as spins occur and users engage with the game. Through this, everyone can have direct exposure and correlation as other users engage with the system! Your MINT balance will automatically increase itself, meaning you can have tons of fun continually checking in on your home page to watch the numba go up. Additionally these means that the rewards for bringing in users, through social engagement and direct referral links, is clear! With referral links coming soon, you will not only get natural MINT rewards but direct rewards based on a referred friend’s bets themselves.
Furthermore, Insrt is set to introduce daily and weekly challenges, offering even more opportunities to earn MINT. These challenges are designed to keep the platform dynamic and exciting, encouraging regular participation and offering fresh ways to accumulate MINT. This approach ensures that both active gamers and those who contribute to growing the community are rewarded for their efforts.
What can I do with MINT?
The utility of MINT extends beyond just accumulation; it offers diverse options for usage within the Insrt ecosystem. Players can use MINT to continue betting on their favorite collections at no further ETH cost. This allows players the consistent ability to take their winnings and potentially leverage it into further winnings and massive prizes. With Insrt, the luck of the draw is always available, and with MINT it’s always working in your favor!
MINT also opens up opportunities for players to redeem their accumulated points for a range of exciting prizes. Bet on any available collection using MINT directly, which creates an element of tangible reward to the platform's virtual activities. Lastly, MINT can always be converted directly into ETH. This option provides users with the flexibility to leverage their MINT in the broader crypto market, underscoring the versatility and practicality of MINT within and beyond the Insrt ecosystem. In the future MINT may open up as a tradeable token, opening it up to the fully composable world of DeFi.
Why should I hold MINT?
The more users engage with betting, the more MINT each current holder is distributed. As a result, everyone holding MINT automatically gets rewarded as users continue to play. The MINT token is tethered and pegged directly to ETH, meaning there is no unnecessary volatility attached to your tokens. MINT reserves will continue to grow as more and more volume is run through the betting system, and could grow from its current value of 300k market capitalization to 100M+. This projected number 18 months down the line would mean a huge incoming revenue stream combined with additional yield from chain-specific benefits.
These chain-specific benefits work perfectly with our upcoming “blast” onto Blast, the new L2 developed by the team behind Blur. On the one hand, Blast natively generates yield on ETH & USDB through ETH staking and T-Bills via MakerDao. On the other hand, MINT is backed by a dormant pool of ETH that is not being utilised 99% of the time. We have considered traditional staking solutions but ultimately found them inadequate–since all the ETH backing MINT needs to be readily available for withdrawals, which typically adds complexity to traditional farming solutions. Blast is therefore the perfect solution for us; we can have our cake and eat it too! All ETH on Blast is natively earning yield and will still be readily available for withdrawals without added external platform risks. Blast allows us flexibility otherwise unavailable or risky to us: we can now farm yield with the ENTIRETY of MINT’s ETH collateral instead of just the portion of ETH above the collateralization point!
Blast yield can be channeled into any number of different options within Insrt. For example, increased MINT rewards can be given that scale in correlation with the yield amount. The yield could also fuel prize bounties, where the yield is packaged and paid out to lucky MINT holders on time-based cadence. Yet another example use case could be funneling the generated yield into a potential prize for every MINT attempt, creating a sort of “bounty” prize pot. Beyond all of these fun cases we are particularly excited to be working with Blast because of how well the two projects align on positioning. Gamification and speculation are core tenets of Blast as well as us: “infrastructure for fueling speculation with underlying real yield” describes both projects beautifully. The rehypothecation of yield is again a strong pillar of Blast and ETH while simultaneously covering Insrt and MINT.
Conclusion
In conclusion, MINT emerges as a cornerstone in Insrt's ecosystem, uniquely positioned as a stablecoin backed by betting volume and offering a novel points system. Its design, leveraging the security of overcollateralization and a 1:1m ETH backing, fosters confidence and stability. MINT's value, dynamically growing with increased platform activity, highlights its core philosophy: incentivizing user engagement and ensuring a mutually beneficial relationship. This approach not only enhances user experience within Insrt but also aligns with the goal of making every participant a winner. MINT's future in Insrt's evolving landscape is marked by potential, aiming to redefine user interaction within the platform and beyond.