Question 1

What is Mintlayer (ML)?

Accepted Answer

Mintlayer (ML) is a blockchain platform designed to enhance and scale decentralised finance (DeFi) by leveraging Bitcoin's security model. It addresses common blockchain issues such as high transaction fees, network congestion, and centralisation. The platform uses a unique consensus mechanism called Dynamic Slot Allotment (DSA), a refined Proof of Stake (PoS) model, and incorporates advanced cryptographic techniques such as Schnorr signatures and the Blake2b hash function to ensure security and efficiency​.

Question 2

What is Mintlayer (ML) used for?

Accepted Answer

**Decentralised Finance (DeFi):** Mintlayer supports the creation and management of DeFi applications and offers tokenisation standards for fungible (MLS-01), non-fungible (MLS-03), and privacy-focused tokens (MLS-02) without needing complex smart contracts​.

**Staking and Rewards:** ML tokens are used for staking, allowing users to participate in the network as block producers and earn rewards. Staking pools require a minimum of 40,000 ML tokens, and users can delegate their tokens to these pools to earn rewards​.

**Transaction Fees:** ML tokens are used to pay for transaction fees on the network, covering costs associated with specific transactions such as token creation and other network fees​.

**Community Engagement and Governance:** ML token holders can participate in the governance of the Mintlayer network by voting on development priorities and suggesting new features​.

**Ecosystem Tools:** ML tokens can be used to purchase services within the Mintlayer ecosystem, such as smart contract development, security audits, and software engineering for decentralised applications​.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	ML-USDT MLUSDT_SPBL	bitget	BB	0.005465USDT	-1.69%	5,232,640.84ML	4,414	0.005559USDT	0.005564USDT
2	ML-USDT ML_USDT	gateio	A	0.005463USDT	-2.48%	2,037,044.00ML	1,573	0.005602USDT	0.005617USDT
3	ML-USDT ML-USDT	bingx	D	0.005478USDT	-2.51%	6,425,926.00ML	3,368	0.005619USDT	0.005638USDT
4	ML-USDT MLUSDT	mexc	C	0.005465USDT	-2.31%	3,790,178.97ML	2,168	0.005594USDT	0.005615USDT
5	ML-USDT ML_USDT	poloniex	C	0.02903USDT	0.00%	0ML	0	0.02903USDT	0.02903USDT