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🎄 Dear friends,
We wish you a happy new year and here's to 2021! Obviously, last year wasn't the best year, but it taught us a lot. For example, to post monthly community updates! The latest one from Minter team is already up on Medium.

And don’t forget to hit that clap button 50 times! 👏🏻

🚀 First Cross-Chain Transfers on Minter Mainnet!

Yesterday, as part of Minter Hub testing, the first transfers were sent from Minter to Ethereum and the other way around. It was the first step to launching a full-fledged Internet of Money that will allow to buy and sell any digital asset right within BIP Wallet. It will also let you create coins and loyalty points—traded against USDT, BTC, ETH, BIP, and any other asset by default—in minutes. Sending any mirrored coin (USDT, wBTC, wETH) will take minimum fees and a confirmation time of about five seconds.

Ethereum -> Minter:
1. Send
2. Receive

Minter -> Ethereum:
1. Send
2. Receive

With Minter Hub, you’ll be able to transfer literally any coin from Ethereum to Minter. They are: the ETH itself, stablecoins (USDT, USDC, …), wrapped BTC, tokenized assets (shares of companies, etc.), DeFi coins, and others. Minter Hub validators will get 1% on the fees charged for moving coins from Minter to Ethereum and vice versa.

When running tests, we used the LASHIN coin, for which we issued an ERC-20 token on Ethereum. This clearly shows that mirroring can be done on either of the networks. Transfer of LASHIN and CHAIN from Minter to Ethereum and the other way around will be available to everyone once the UI development is finished. For these coins, the pairs will be launched on the Uniswap protocol, meaning anyone will be able to exchange them for USDT in a completely decentralized way.

For making these transfers happen, Minter Hub validators got 1% of the fees. The fee for sending transactions to Ethereum will be paid by the user separately (this functionality is underway).

A few technicalities

Minter Hub is based on Cosmos SDK and a modified Peggy solution that’s developed by the Cosmos team.

Minter Hub is supported by validators, here’s what they launch on their servers:
- Minter node
- Ethereum node
- Minter Hub node
- Ethereum Orchestrator, software that monitors the events on the Ethereum network and broadcasts them onto Minter Hub. It’s also responsible for sending withdrawal transactions to Ethereum.
- Minter Orchestrator, software that monitors the events on the Minter network and broadcasts them onto Minter Hub. It’s also responsible for sending withdrawal transactions to Minter.

Mirrored coins are locked on the MultiSig accounts of Minter Hub validators up until they are requested to be withdrawn.

Why is this one of the most important milestones in Minter’s history?

1. Minter becomes the easiest way to enter the crypto space. Fast and cheap transfers for most digital assets, interfaces that are easy to understand.
2. The bigger number of transactions and bigger gains for validators and delegators. With the arrival of Minter 2.0, the fees will be adjusted to the market, meaning that returns from the fees might surpass those from generating new blocks.
3. BIP holders get an opportunity to benefit from the exchange operations inside Minter carried out via the Uniswap protocol.
4. HUB holders get 1% on the fees charged for transferring coins from Ethereum to Minter and vice versa.
5. Last but not least: all Minter-powered coins become exchangeable with USDT, ETH, BTC, and other digital assets. All that in five seconds and at super-low fees.

Tied to the U.S. dollar, fees will be one major thing to change once Minter 2 goes live ($0.01 for transfers, $0.03 for swaps, and $10 to $100,000 for creating coins).

Another is the ability to pay them with mirrored coins from other blockchains (USDT, USDC, wBTC, and others).

But how will the new economic model impact the earnings of validators and their delegators?

Learn More: https://medium.com/@MinterTeam/economics-of-minter-2-440aa09cb0fa

DeCenter has joined hands with Pinpon to engage its audience like never before. The promo campaign will run for one month.

It has a total prize pool of 25,000 DEC.
Ten winners will be selected randomly on Minter blockchain.

During this time, some of our posts will include special polls, others will not. So not to miss them, follow our updates closely.

Here’s the most interesting part: you can win more than once! All participants have an equal chance, but the more polls you complete and the more friends you invite, the more likely you are to become one of the lucky ten.

When will the winners be announced?
🗓 February 19, 2020

Are there any extra steps I need to take?
📨 No. Just follow the link and pick the option that you think is correct. That’s it!
P.S. After the first poll, you’ll need to confirm your e-mail address. Check your spam folder if it doesn’t arrive in your inbox.

As the team was directing all of its attention to getting Minter 2 and Minter Hub ready, January was a short yet very productive month.

Our latest round-up covers the process of sending coins from Minter to Ethereum and vice versa as well as a number of other dev-related details.

🧀 Delegate ZOLOTO → get 10% rewards
→ win 🔥100 000 BIP

Rules:

1️⃣ Delegate 1 ZOLOTO or more to get 10% cashback
2️⃣ You get 1 ticket for every 10 ZOLOTO delegated, to participate in the draw with prize 100 000 BIP. More tickets — more chances to win!

➖ Timings from 7 to 28 February
➖ Only stakes in validator Minter Capital get into account
➖ Payouts and fair play will be held on 1 March
➖ Payouts of 10% ZOLOTO will be sent two equal parts, each of which must be delegated

This is a spreadsheet where you can see your reward and tickets in real-time:
https://docs.google.com/spreadsheets/d/18YF4pK2FM4jmHIzMAy0odIu5iOqja5AZPWY-0en1mhs/edit#gid=0
(auto update every 10 minutes)

Minter 2 for traders

Once Minter 2 is live, you’ll be able to trade in leading cryptocurrencies and assets from any wallet of the network in a decentralized way, keeping complete control over your funds.

As always, Minter will have a number of advantages compared to other blockchains, e.g.:
– Very fast transactions (less than 5 seconds), which is especially important in trading
– Low fees: 3 cents per exchange + 0.2%
– Tokens at prices close to the market ones
– Wide choice of cryptocurrencies, tokens, and assets—from BTC and ETH to Tesla shares and oil

Even a $10 trade can be profitable as the fee will only be 5 cents. In case of arbitrage, you can already make profitable exchanges if a Minter-mirrored asset is trading at least 1% above/below the market.

By using the bridge to the Ethereum network (Minter Hub) and sending a single transaction, you can order liquidity of any volume.

For BIP holders and stakers, it all means additional demand and rewards due to the substantial increase in the amount of collected fees.

Yes, centralized exchanges charge lower fees (say, 0.1%). But you can never be sure that there’s been no wash trading or front-running before your order. Besides, many people have trouble withdrawing their funds, especially when things get bullish. And that’s not to mention hacks.

Investors believe in DeFi with low fees!

🚀 After the announcement of decentralized trading’s arrival with the release of new Minter 2, BIP skyrocketed +200%, making it to the list of top gainers on CoinMarketCap.

In an upgraded blockchain, BIP will be used as a primary token when paying fees for exchanging leading cryptocurrencies (BTC, ETH, UNI, LINK, and many more) via pools, with the block time of up to 5 seconds and millions of transactions processed daily. Given the unpredictable nature of growth in Ethereum trading fees, Minter stands out by offering the constant fee of $0.03 and 0.2% charged by the pool per each trade.

Those willing to purchase BIP can do it, for example, at Bithumb Global.

Minter 2 enters public testing on February 23, 2021.

"Let's go with BIP and repeat what Reddit did with GameStop? Why are we worse? ✨" in Minter (Russian)

BTC.Secure accepted this🤝

1. Bought BIP at the market rate of $500 on Bithumb Global
2. Withdrawn from the exchange
3. Exchanged BIP for BTCSECURE
4. Delegated BTCSECURE to BTC.Secure

Getting ready for the global update of Minter 2.0🚀

P.S. The action does not constitute investment advice. With this post, we confirm the event.

⚛️ Cosmos SDK Security Patch by Minter Team

While developing Minter Hub, we located a critical bug in Cosmos SDK: a malicious actor could halt the operation of any public node with a 100-percent guarantee. We reported the issue in detail and informed Cosmos developers of our finding. Their team has released an update to eliminate this vulnerability:

https://github.com/cosmos/cosmos-sdk/releases/tag/v0.41.1

"This release includes two security patches, and does not introduce any breaking changes. It is highly recommended that all applications using v0.41.0 upgrade to v0.41.1 as soon as possible."

Our core team has been actively contributing to the Tendermint development since the very beginning: 6 issues, 1 global architecture proposal, 7 pull requests. And now we are excited to have the opportunity to help improve Cosmos SDK, too.

P.S.: Since Minter blockchain does not utilize Cosmos SDK, the identified problem does not affect it.

The Minter FM radio sat down with Daniil Lashin, our lead developer who, by the way, was the one to report a critical Cosmos SDK vulnerability.

https://youtu.be/9-Zyc5oHoyk

Learn more about the Minter 2 upgrade, its advantages over other blockchains, and Daniil's career as well as his take on mining, software engineering, and self-searching during the pandemic.

Minter Development Foundation plans partial or even full burn of funds that it will have accumulated by the time network upgrades to Minter 2.

The total amount to be burned will be up to 400 million BIP, which roughly translates to $3.2 million at the time of writing.

Large traders believe this move will have a healthy impact on the network’s economy in general.

The burn will not affect the coins that belong to users. It is about the Team’s funds that Minter Development Foundation has been receiving as a fee on every block since blockchain was launched.

In times when governments around the world are actively printing their national currencies and reducing the purchasing power of money as a result, our community needs to pick an understandable and concrete path of strengthening the Minter economy so that as many users as possible want to join it.

This news is being updated.

Our lead developer Daniil Lashin was awarded by Cosmos for fixing major issue that could possibly stop many blockchains https://twitter.com/danillashin/status/1362460415800848396?s=21

Binance Smart Chain @ Minter Hub

Transaction costs on the Ethereum network keep breaking new records: up to $100 for exchange operations and up to $20 for coin transfers.

That’s why the Minter Team has decided to additionally connect the Binance Smart Chain network as part of Minter Hub. This will make digital assets transferable not only between Minter and Ethereum, but between Minter and Binance Smart Chain as well. BSC will also provide Minter users with an opportunity to access even more digital assets.

BSC is based on EVM, which means we’ll be able to use what we’ve already developed for integration. At the moment, we’re running tests to see how compatible the current version of Minter Hub is with BSC.

🚀 Before starting public tests, we’d like to offer you a little sneak peek at cross-chain Minter<->Ethereum transfers.

The magic happening in the video is not just simple in its nature, but also fully decentralized.

Minter 2 preview: https://www.minter.network/2

Public Invitation to Minter 2 Testnet (🌮 TacoNet)

We are delivering on our promise! The public tests of Minter 2 start today.

Create pools and add liquidity, build routes with up to 5 coins, issue non-reserve tokens, mint and burn, and if you're a validator, vote whether to change the network fees and set the new ones for your delegators.

For more details, check out Minter Development Foundation's latest announcement, which is already up on Medium.

👏🏻 Don't forget to clap!