Question 1

What is Minswap (MIN)?

Accepted Answer

Minswap is a decentralized exchange (DEX) that operates on the Cardano blockchain. It differentiates itself through a community-centric approach, with no private or venture capital investment. The platform enables users to swap tokens, provide liquidity, and engage in yield farming. Minswap has garnered attention for its high trading volume and total value locked (TVL), positioning itself as a leading DEX within the Cardano ecosystem since its launch in March 2022​​.

Question 2

What is Minswap (MIN) used for?

Accepted Answer

Minswap facilitates several key DeFi activities on the Cardano blockchain:

Token Swaps: Users can exchange one cryptocurrency for another, with a portion of each swap fee distributed to liquidity providers.
Liquidity Provision: Users can deposit assets into liquidity pools to earn swap fees and MIN tokens as rewards.
Yield Farming: By staking liquidity pool tokens, users can earn additional MIN tokens.
Governance: MIN token holders can participate in governance decisions, influencing the direction and development of the platform.
Staking Rewards: The platform uniquely allows liquidity providers to earn ADA staking rewards in addition to the usual liquidity and yield farming rewards​​.

Question 3

Who created Minswap (MIN)?

Accepted Answer

Minswap was developed by Minswap Labs, a team of DeFi developers and natives primarily based in Vietnam. The team's focus on building a community-driven DEX has led to innovative features that promote equitable distribution of rewards and governance participation among its users​​.

***The official Minswap ticker is “MIN” and trades under that name on all the exchanges where it has been listed. The designation “MINS” is for CryptoCompare.com only.***