This post focuses on the presale of Mynt Token (MYNT). It will answer questions about the presale itself, including how it works and what benefits there are to participating in it now. This post will also provide information as well as offer step-by-step instructions for those interested in investing their SOVs during this period!

What is MYNT?

Sovryn Mynt is an aggregator protocol for BTC-backed stablecoins. Multiple methods of creating BTC-collateralized tokens, pegged to BTC will be aggregated into a single, ultra-stable coin. For this proposal, we will refer to the aggregate coins as “B-Stables”. Multiple B-Stables can be created for different pegs. However, initially, it is envisioned that only one peg (possibly to USD) will be chosen.

MYNT Bootstrap Event

November 8-15, 2021, sale starts at 15:00 UTC.

During the entire Bootstrap Event, the price of MYNT will be fixed at 100 MYNT per SOV.

The sale will take place on Sovryn Origins Launchpad.

Accepted assets to participate in the sale: SOV, rBTC, XUSD, ETHs, BNBs

How to participate?

1. Go to Origins Launchpad
2. Engage your Web3 wallet to the dApp.
3. Choose “MYNT Origin Sale” and read through the information about this bootstrap event.
4. Enter the amount you would like to purchase for a rate of 100 MYNT tokens per SOV.
5. Accept the transaction notifications from your Web3 wallet. (Number of transactions can vary depending on the tokens you used to participate*)

*Purchasing MYNT with SOV involves 2 transactions, with RBTC it involves 3 transactions, and with other tokens (XUSD/ETHs/BNBs) it requires 4.

What can I do with my MYNT?

MYNT stakers would play an important role in the Sovryn ecosystem by setting the collateralization standards required of BTC-stability protocols for inclusion in the Mynt.

MYNT stakers would then be in a position to benefit from fees generated by the Sovryn Mynt. This revenue may be generated primarily from three types of activity:

- Trading fees accrued by traders trading one sub-token

- Redemption fees that may be charged if the stablecoin trades at a premium to its peg

- Lending of the aggregate tokens, should this activity occur in the future

- Additional opportunities for revenue may also arise or be developed.

More Details

• See the discussion around SIP-0037 on the Sovryn Forum here
• See the proposed SIP word-for-word in GitHub here
• Read our previous blog posts - here & here

FAQ

What is the MYNT smart contract address?

0x2e6B1d146064613E8f521Eb3c6e65070af964EbB

What is MYNT’s supply?

Initial Supply = Bootstrap Supply + Incentive Supply. Once the bootstrap event is over, the bonding curve will go live, and the supply of MYNT will fluctuate based on how much SOV is locked up in the bonding curve according to the bonding curve formula. To see how these are calculated, see this section of the wiki page.

Will the price change? Should I hurry?

During the entire Presale week, the price of MYNT will remain stable at 0.01 SOV.

Where can I find MYNT tokenomics?

Right here.

When will MYNT be liquid?

As soon as you finalize your purchase

How can I add MYNT to Metamask or other wallets?

Click “Import Tokens” and then paste the MYNT smart contract address - 0x2e6B1d146064613E8f521Eb3c6e65070af964EbB

What’s next?

Go to https://live.sovryn.app/origins and take your part in MYNT history.

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