Preserving Utility in Minterest NFTs

NFTs are one of the key highlights of Minterest. In a DeFi first, Minterest NFTs have beautiful professionally designed images while delivering utility to their holders in the form of boosts in the Minterest protocol’s Standard Emissions.

NFT utility does not last forever however, they do expire. As stated in Minterest’s Telegram channel, there is no intention to allow the value of NFTs to simply expire due to this short term period of uncertainty regarding Minterest’s Public Launch. Clarity on this, and numerous other matters of importance to the community, will be resolved via Minterest’s forum and DAO processes, both of which are being fired up imminently. However what is clear right now is it is a no brainer that the value of Minterest NFTs should be preserved.

This is why all NFTs will now be able to be reissued. Holders can have their NFT reissued at any time up to 6 months after Minterest’s Public Launch, which is the date boosts of Standard Emissions are initiated. This applies irrespective of whether the NFT has even expired. It means holders in having their NFT reissued can reset their NFT clock back to zero, and know in the meantime the utility of their future emission boosts will be preserved.

The process by which this will occur will also be designed to ensure gas costs are absolutely minimized. The full details will be published in Minterest’s forum in coming weeks. Minterest’s DAO will likely seek to also approve the process given very strong support from a clear majority of MNT holders.

The process is intended to be simple. It will involve holders being able to transfer their NFT to a Minterest wallet in return for an identical version of their NFT being reissued to them with its validity period fully reset. In the lead up to this occurring details will be regularly posted in Minterest’s forum with forum users emailed with details as well.

Early next week Minterest’s forum is being launched. It is open to every MNT holder and will enable all Minterest’s community to unite and participate in constructive discussions that add value in DAO decisions regarding the protocol’s future pathway. The forum’s other opportunity is for supporters of the project for the very first time to fully engage in and contribute to the comprehensive detail of a significant lending protocol project like Minterest.

First thing next week every MNT holder will receive an email to invite them to login and participate in Minterest’s forum. Please look out for yours. Announcements will also be posted across Minterest’s social channels.

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