Community Allocation Event
The community allocation event is intended to ensure a maximum allocation of 500 USD to any and all members of Minterest’s community. The community allocation event is open to anyone except for citizens, residents, and incorporated entities of the United States and the following sanctioned countries: Cuba, Iran, Crimea Region of Ukraine, North Korea, Syria.

How do I sign up for the Minterest Community Allocation event?

If you signed up during the earlier #nextleveldefi event, your allocation is confirmed. If you did not, please check the following link to sign up here . For those who are interested in participating in the community allocation event we created a short guide here .

Why did you organise a Community Allocation Event as well as an LBP Token Event?

Minterest has been built to be about inclusivity and fairness. What this means is that we want to ensure that the protocol itself, and the intention of our Next Level event treats everyone participating in it equally by:
  1. 1.
    Allowing absolutely everyone access to allocation (barring certain jurisdictions for regulatory reasons).
  2. 2.
    Reducing the usual friction for participation. We have kept the process as simple as we can

LBP

There was incredible demand to receive an allocation in Minterest even before we came out to the public this September. And we realized this demand would likely spill over to our community too so we spent months researching the best approach to allow everyone interested access to the MNT token -- and that vehicle became the LBP. The LBP (Liquidity Bootstrapping Pool) is a tried and tested approach, and it has no restrictions for access. The LBP also allows for the market to determine the fair price of any crypto asset during the course of the event itself. It's worth reading our writeup examining recent LBPs and how the flow of the events went to gain some useful insight. Here's a link: https://minterest.com/blog/guide_to_public_distribution
Our initial intention was for the Next Level event to simply run with just the LBP + the lottery activity for the Minterest NFTs. It certainly would have been far easier from a planning and administrative perspective to leave it this way.
However, as we began to develop our plans around the LBP, we received feedback from some of our key investors that the LBP is fair but also intended for sophisticated users with larger crypto pockets. And their concern was that the LBP may be untenable for our core community members who are sensitive to high gas fees on Ethereum and who may face complications around the timing of when to actually purchase tokens during the LBP event since the price is variable and ever changing based on demand.
Though the LBP is inclusive, we didn't want our smaller investors to get a raw deal here. And that's when we developed the Community Allocation Event

Community Allocation Event

To make the process easier with the LBP for our community, we set out to accomplish two additional things:
  1. 1.
    Provide the lowest possible fair price from the LBP.
  2. 2.
    Reduce Gas fees as much as possible.
Through the Community Event everyone
  • Gets a fixed 500 USDC allocation. We are not excluding anyone artificially through some unfair race to snag a limited number of tickets to the party.
  • Can choose to send in their funds via the Ethereum or Binance Smart Chain networks. Why BSC? It is simply more economical for those who are sensitive to gas fees.

What does the lowest average price means?

Minterest community allocation event participants will get the lowest average price in the LBP. The price is a function of the average of the lowest LBP prices paid by total funds accumulated in the community allocation event. Let's assume that all participants accumulate 500,000 USD in the community allocation event. The price in the community allocation event is determined retroactively as the average price of the lowest 500,000 USD purchased in the LBP. In more detail: Let's assume that in the LBP there are 5,000,000 USD collected at the end of the event, where all LBP participants paid a different price. Sort all 5,000,000 USD provided by the token price paid from high to low, and take the average price of 500,000 USD from the bottom and average it. This is the average lowest price in the community allocation event. Learn more about the lowest average price here: https://minterest.com/blog/guide_to_public_distribution

Will we still receive interest/yield within the next year?

Yes, the vested tokens will be released to you block by block, but you will be able to stake tokens that have been released to you at that point in time and collect yield on the Minterest protocol during that year.

How does the whitelisting work without KYC?

Users have to verify that they are following us on Twitter and submit their wallet address.

When will the tokens be distributed?

100% of tokens will be released smoothly, block by block after the Minterest protocol launches on Moonbeam. There is a one-year vesting period for all Community Allocation Event investors.

How to update Twitter/wallet address for the Whitelisting?

Wrong Credentials During Whitelisting
At the moment it's not possible to change either wallet address or Twitter account if both have been entered and you've finished whitelisting.
Please try this workaround:
a) Click edit next to your name -> change email to a new (unused) one. b) Login using old email which is now no longer associated with the old wallet / twitter c) Enter correct wallet address/Twitter.

3rd party error messages, how to troubleshoot?

ALL 3RD PARTY ERROR MESSAGES
This error can occur if they Reject the transaction or the transaction did not go through. Make sure you have enough funds in your wallet and try again.
The users should check that they have:
  1. 1.
    BNB/ETH to pay gas fees AND,
  2. 2.
    Correct amount of USDC on BSC/Ethereum in their account.
In general these will be the primary reasons for transactions failing on Binance and on Ethereum.

Why should you trust us?

Regarding the worry of a "rug-pull" of our Community Allocation Event -
This is a great question and one that merits a thorough explanation considering what does occasionally happen in DeFi with unknown, undoxxed teams running unknown projects that simply cut and run with their community's money. I'd like to present my counter arguments as to why we are not one of those projects.
In our case, we are thorough professionals doing our level best to create a legitimate protocol and do everything "by the book" as much as we can.
Our management-level team members and advisors are fully doxxed (a rarity in DeFi!), not to mention highly accomplished and well-known in the startup and DeFi / crypto scene. More info on our identities here: https://minterest.com/blog/meet-the-team-behind-minterest
We are also backed by a long, illustrious list of renown investor groups, and the full identities of our team are likewise well known to them - you may read all about these investors here at https://minterest.com/blog#!/tfeeds/507712053931/c/Investors as well as here https://minterest.com/blog/introducing-our-partners
At the end of the day, all we can do is provide strong arguments to you as to why we are a legitimate, professional protocol with genuine credibility.

How to get USDC on BSC if I have funds on a centralised exchange?

Get USDC on BSC

If you are on a CEX (Central Exchange) like Binance, KuCoin, Kraken, Coinbase etc, and want to deposit USDC via BSC Network onto your Metamask Wallet for the Community Allocation Sale, here are the EXACT steps you need to follow.
  1. 1.
    Purchase BNB via your CEX. IF you are on Binance you may purchase BUSD which is a stablecoin and equivalent in value to USDC.
  2. 2.
    Add BSC as a network onto your Metamask, using these exact steps https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain
  3. 3.
    Copy your Metamask wallet address, which is the same regardless of Ethereum or BSC Network. This should begin with an 0x.
  4. 4.
    Go to the CEX, and withdraw your BNB (or BUSD, if on Binance). Enter your Metamask wallet address. Make sure you withdraw to the BINANCE SMART CHAIN (BEP-20) NETWORK.
  5. 5.
    The withdrawal to your Metamask wallet might take 1-2 hours.
  6. 6.
    If you withdrew BUSD via Binance CEX, follow these steps so your BUSD token shows up. https://techcrook.com/cryptocurrency/how-to-add-busd-in-metamask-binance-smart-chain-wallet/ BNB tokens should automatically show up.
  7. 7.
    Once it's done, go to https://pancakeswap.finance/swap and trade your BNB or BUSD for USDC.
  8. 8.
    Add the USDC (BEP-20) contract address to your Metamask wallet so you can see your USDC balance. Here is the contract address: 0x8AC76a51cc950d9822D68b83fE1Ad97B32Cd580d
  9. 9.
    Go to your personal deposit link that you received from us via email and deposit your USDC.
  10. 10.
    Please note that each transaction on BSC will cost you about $1-$2 in gas fees, paid in BNB. You will need BNB in your BSC Network wallet to pay for all of these transactions. This is normal and extremely cheap compared to Ethereum network, where gas fees per transaction can range from $30 to $300.