Mynt

Mynt

Created using Figma
Created using Figma
The Sovryn Mynt
Introduction
Sovryn Mynt is an aggregator protocol for BTC-backed stablecoins. Multiple methods of creating BTC-collateralized tokens, pegged to BTC will be aggregated into a single, ultra-stable coin. For the purposes of this proposal, we will refer to the aggregate coins as "B-Stables". Multiple B-Stables can be created for different pegs. However, initially, it is envisioned that only one peg (possibly to USD) will be chosen.
Nov 8, 2021
Nov 15, 2021
100% completed
Raised funds - no Data
past
Token Details
Ticker
MYNT
Additional Details
Platform
RSK
Categories
Platform

About Mynt

Motivation

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”

— Satoshi Nakamoto

The core mission of Sovryn is to continue Satoshi's mission for establishing new territories of freedom by building trustless economic tools on Bitcoin. Central to accomplishing this mission is to remove the need for intermediaries or the constraints they can impose.

Bitcoin has emerged as a proven store-of-value over long time frames. However, its day-to-day volatility has limited its use as a medium of exchange or for low-risk savings. The Bitcoin whitepaper envisions BTC's use for cash and payments - Sovryn Mynt provides a path to this by overcoming the volatility problem by creating currency whose value can be reliably stable to a given peg. If the peg chosen is a fiat currency, the stablecoin can circulate as a substitute for that currency, unthreatened by need to trust intermediaries and secured by the underlying BTC value.

Features

Aggregating Methods of Stability

Each of the different systems producing stability that are part of the Mynt system produces a token. We will refer to these as "aggregates" since their primary purpose is to act as part of the collateral that will be wrapped into the B-Stable minted by the Mynt. A hypothetical example can be seen in the below diagram.

The Mynt can maintain various policies and standards regarding which aggregates are allowed to compose the Mynt pool and what weighting they should have.

Technical Info

Bootstrap Event Details

Bootstrap Supply: 84.25%
Incentive Supply: 15.75%
Bootstrap Initial MYNT/SOV ratio: 100/1

    Lockup Vesting Bootstrap Supply 84.25% N/A N/A Incentive Supply 15.75% See Below See Below         Incentive Supply*       Founders (MYNT) 4% N/A 36 Months, 6 Month Cliff Sovryn core contributors 0.25% N/A 36 Months, 6 Month Cliff MYNT / BTC AMM 0.50% N/A N/A Mynt Treasury 10% 1 Month 36 Months Fully-vested SOV stakers 1% N/A 12 Months** Total 15.75%  

Activity

Followers:
43 753
VERY HIGH
Tweets:
5 330
VERY HIGH
Fake Users Detected:
4.70%
30 Days Growth:
996

Mynt Team

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

Edan Yago
Core contributer
unverified

Mynt Last News

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