Founders Letter - Mint Club will Move Forward
To our wonderful community,
We have all gone through a very tough time - both our wonderful supporters and the team - due to the recent crises. We learned that external factors can have a huge and negative impact on the project even though we have already ensured the maximum level of security for our own platform.
Even though the Mint Club protocol has no security issues and there is no admin role on the protocol, we were hit by the problem of another protocol (a key management issue) that accepts our tokens to stake.
However, we don’t think there is any point in continuing to focus on this devastating incident. All we can do is put it behind us and move forward by building the best possible platform and community.
I know that many successful projects and remarkable products that have changed our lives have also been through many challenges and have reached the almost giving-up stage, but they overcame the challenges to create ground-breaking products. I believe that this is our time to overcome. This is our chance to leverage this experience to make a remarkable platform.
To compensate the victims from Nutbox, we are using company funds as well as the founders' personal money even though we are not obligated to. So let’s no longer dwell on these unfortunate incidents. Now, it’s time to pin our priorities on the future. We will work smarter and faster to get back to our normal growth pattern and then surpass it!
So, please read through our updated roadmap and upcoming focus.
We will NOT have any partnership with a staking platform unless...
Even though we checked all the necessary code structure, the team, their past experiences, their audit report, and thoroughly checked out everything, we have seen that a security hole can always exist. So, from now on, we will NOT have any partnership with a company in relation to a staking/farming pool where our holders can put their tokens on their contracts no matter how well-written their code is or how reputable the team is, unless it’s a long-time proven platform.
“Staking/farming” is surely one of our holder’s needs even though the Mint Club project is not related to yield farming. So, this is our changed direction in relation to yield farming.
We will have a partnership with ONLY the major platforms that have had no security accidents with a large number of TVL for a long time.
Until we can get into the major platforms, we may focus on building our own staking platform that has our own security guideline (the detailed plan is still under discussion).
We will expedite the front-end based projects that will expand the Mint Club ecosystem.
We believe that the price comes from the platform’s value propositions, not from pump and dump-like materials such as “good news” or “partnerships.”
Mint Club protocol has a very unique value proposition - a base protocol that lets anyone create their own token building platform. In other words, any team can build their own front-end service that has their own token building system with its own concept.
1s.market - the time-based token marketplace - is the best example of this strategy. It uses the Mint Club protocol which is a publicly open protocol. It does not have any of its own smart contracts. They just utilise the smart contracts that are already built in the Mint Club protocol and provide a very unique time token marketplace. As a result, the MINT token valuation can sharply increase if 1s.market attracts many users, and our MINT holders won’t have any security risk because the project uses our smart contract. The Mint Club contract does not have any admin key leakage issue because we didn’t include an admin key from the start.
We think the creation of successful front-end projects (from other companies) that use Mint Club protocol can be the most effective and fast way to grow our ecosystem and MINT token valuation.
1s.market is scheduled to launch this month and surely it will be one of the most unique platforms in the world. Imagine, you can create a time-based token with any Twitter link. You can create a time token for Elon Musk if no one has created it yet. Aren’t you excited?
Liquidity pool and CEX…
Yes, we know it is highly important to expand the level of liquidity on the MINT/WBNB pool and also the centralised exchange listing. We’re going to have a concrete plan to increase the liquidity pool level by creating the easiest liquidity providing interface in the world on our website and tapping in the major yield farming platforms.
We will also actively tap into the centralised exchanges when our project reputation reaches a certain level. This may not be quick to achieve because we will ONLY try out for reputative exchanges. Please be patient.
And the Binance Labs Incubation Program
As you know, we’re in the season 3 batch of the Binance Labs Incubation Program. Every week Binance brings many valuable mentors and expands our network. At the end of the program, a demo day is also scheduled (called BUIDLers’ day) in front of the Binance staff, industry leaders, and potential investors.
We will show them how Mint Club is trying to change the world of tokenization to be super simple and ridiculously easy compared to the “traditional” token building platforms.
Stay tuned on the chu chu train channel.