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1. BTC’s DeFi opportunities
BTC has great potential in the field of decentralized finance (DeFi).
2 solutions lock up 10% of its value, but BTC’s Layer 2 solutions only account for 0.1% of its value. Considering that BTC’s market cap is three times that of Ethereum, BTC Layer 2 solutions only account for 0.1% of its value.
The growth potential of the 2 solutions is huge. This gap represents BTC
There are hundreds of billions of USD in opportunities in the DeFi field, and innovative BTC ecosystem projects are emerging to unlock the full potential of BTC in the ecosystem.
2. Mintlayer Project Introduction
Mintlayer is a BTC Layer 2 sidechain that has been unlocking BTC's huge DeFi potential since its mainnet launch in January 2024. The core of Mintlayer's innovation is native BTC cross-chain swaps, also known as atomic swaps. This breakthrough technology allows direct access to BTC liquidity without wrapped tokens, eliminating counterparty and wrapped token risks.
3. In-depth discussion of technology
Mintlayer's value proposition goes far beyond atomic swaps. Based on a BTC-inspired architecture, Mintlayer prioritizes product security, simplicity, and reliability. And Mintlayer uses non-Turing-Complete smart contracts and UTXO models to enhance privacy and reduce vulnerabilities.
Key features include:
• Similar to BTC’s UTXO (unspent transaction output) model, it enhances the flexibility of transaction composition.
• Integrated with hardcoded smart contracts that recognize specific output types.
Choosing Rust as the node development language reflects Mintlayer's commitment to speed and safety. Rust's efficiency, safety, and unique borrowing system allow the software to remain thread-safe without a garbage collector.
4. Innovative consensus mechanism
Mintlayer uses a hybrid consensus system that combines elements of Proof-of-Stake and Proof-of-Work. Block signers perform a process similar to "guessing" blocks, similar to mining, but with significantly reduced computational requirements. This accessibility enables even cheap entry-level devices such as Raspberry Pi to run Mintlayer nodes efficiently, expanding the scope of participation in running staking pools and enhancing network security.
5. ML: Driving the Mintlayer Ecosystem
The Mintlayer project token, ML, is the lifeblood of the Mintlayer ecosystem. Although ML was initially launched as an ERC-20 token, the majority of the supply has migrated to the native environment of the Mintlayer mainnet since the mainnet launch. Designed with a fixed supply and deflationary mechanism, the ML coin plays a key role in driving the network's proof-of-stake mechanism. The total supply is capped at 600 million tokens, of which 400 million have been pre-mined, and the remaining 200 million will be generated within the first decade after launch.
Importantly, ML tokens contain a burning mechanism whereby certain operations such as issuing MLS01 tokens will result in ML tokens being permanently removed from circulation. This deflationary mechanism, combined with a low initial market cap, provides an interesting value proposition for potential ML investors.
coinmarketcap.com/currencies/mintlayer
6. Why choose Mintlayer ecosystem?
Mintlayer provides powerful "tokenization" capabilities, supporting both fungible (MLS01) and non-fungible (MLS03) tokens with customizable metadata. This flexibility makes Mintlayer an ideal platform for tokenizing a variety of real-world assets such as real estate, financial instruments, precious metals, and art.
7. The team behind Mintlayer
Mintlayer's solid technical foundation is built by a team of experienced industry experts, and its founder is Enrico
Rubboli. Enrico has over 25 years of software development experience, and his experience as a senior developer at Tether and Bitfinex (key players in the cryptocurrency space) has enabled him to gain extensive experience in blockchain technology and high-risk financial platforms, enabling him to tackle BTC
The complexity of DeFi.
Complementing Enrico’s expertise is Chief Consultant Charlie
Shrem, he is a pioneer in the BTC world. As a founding member of the BTC Foundation and an early BTC entrepreneur, Charlie brings valuable insights and connections to the project. His experience in navigating the ever-changing cryptocurrency environment unlocks BTC for Mintlayer
The vision of DeFi’s potential adds a layer of strategic depth.
8. How to participate in the Mintlayer ecosystem?
ML Token
For users looking to participate in the Mintlayer ecosystem, $ML tokens are listed on multiple major exchanges including Gate.io, MEXC, Bitmart, Poloniex, and Bitget.
Mojito Wallet
At the core of the Mintlayer ecosystem, users can use the Mintlayer ecosystem's Mojito wallet for on-chain interactions. Mintlayer's user-friendly non-custodial solution is designed to seamlessly integrate the ecosystem. This multi-functional wallet supports BTC, ML coins, and MLS-01 tokens, providing users with a secure and convenient way to manage assets across BTC and the Mintlayer network.
Staking and Rewards
ML holders can put their $ML to work by staking, which allows participants to contribute to network security while earning rewards. The current annualized yield (APY) of up to 88% makes staking attractive to token holders.
Staking can be done using the Mojito wallet or the Mintlayer blockchain explorer, which provides details on Mintlayer network activity and opportunities to participate in staking.
As the network matures, staking rewards will transition from newly minted tokens to transaction fees, ensuring long-term sustainability.
How to participate in Galxe community activities?
In order to further interact with the community and win additional rewards, Mintlayer is currently working closely with Web3 data platform Galxe to launch the Mintlayer series of activities. Mintlayer invites all Web3 users to join this event, win exciting prizes, and participate deeply in the Mintlayer ecosystem.
DeFi Products - Atomiq DeFi
Atomiq
DeFi ($ATMQ) is the first project incubated by the Mintlayer Ecosystem Fund and is building the world’s first native BTC cross-chain swap (also known as atomic swap).
DEX. It is funded by $1.5 million from the Mintlayer Ecosystem Fund. It is built using Mintlayer atomic swap technology.