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October 3, 2023

2 min

Algomint Q4 2023 TDR

What is Algomint?

Algomint pioneered the bridge for BTC and ETH to Algorand, in addition we have established a robust platform incorporating BTC, ETH, and USD baskets for seamless swaps and trading of like for like assets. By leveraging the Algorand Blockchain, Algomint enables round-the-clock operations with lightning fast transactions executed in a matter of seconds for minimal fees.

Summary:

What is the program goal?

The long-term ambition is to scale the volume of assets bridged and basketed by Algomint on the Algorand blockchain. The TDR program is devised to encapsulate multiple aspects to achieve this goal:

1. Augmented utility.

2. User / liquidity retention.

3. Incentives for new liquidity providers.

4. Multi-platform collaborations.

As a bridge and asset basket provider in the Algorand ecosystem, all rewards within Algomint’s framework are to be distributed via trading platforms — Pact, Tinyman, & AlgoRai. Engagements are ongoing with all 3 protocols on co-incentive plans, alongside other strategies to co-market and enhance the effectiveness of the program. Additionally, partnerships are being forged with platforms like xBacked, Meld Gold, AlgoRai, Folks Finance and Messina to co-incentivise specific trading pairs and formulate collaborative strategies to further the program’s reach and impact.

Allocation:
Amount: 754,583 $ALGO

What will be incentivised and where:

https://medium.com/media/bd39bfc6cb5bcbc89f7f72cb5246b1bf/href

X-NFT Series:
6.6 % of rewards will be utilised to create the X-NFT series 2, funds will only be used to pay the artists and direct costs of minting / issuing the NFT’s. All related development costs are covered by Algomint.

Rewards will be distributed via: Algomint Reward Wallet

ALGOMINT Q4 2023 TDR

October 3, 2023

What is Algomint?

Summary:

What is the program goal?

The long-term ambition is to scale the volume of assets bridged and basketed by Algomint on the Algorand blockchain. The TDR program is devised to encapsulate multiple aspects to achieve this goal:

1. Augmented utility.

2. User / liquidity retention.

3. Incentives for new liquidity providers.

4. Multi-platform collaborations.

Allocation:
Amount: 754,583 $ALGO

What will be incentivised and where:

https://medium.com/media/bd39bfc6cb5bcbc89f7f72cb5246b1bf/href

Rewards will be distributed via: Algomint Reward Wallet

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LEARN MORE

Learn about the core concepts of Algomint and explore developer documents.

View FAQs

What is Algomint? chevron

Algomint is a digital asset bridge built on the Algorand blockchain. Our product allows users to bring their favourite assets across from other chains while maintaining their value and enhancing them with the power of Algorand’s speed, security, low cost, and carbon negativityWith the new capabilities that are coming over time it is growing into a liquidity network, which will allow the flow of equity between chains, help consolidate like for like assets to allow for more efficient trading and stabilise the market through using the bridged liquidity to arbitrage.

Why would you wrap your digital assets? chevron

Wrapped tokens allow interoperability and flexibility. This means they act as a bridge between blockchains allowing users from one network to use their crypto tokens on another network. Users can retrieve original assets at any time by burning the wrapped asset.

How do I use Algomint? chevron

The team have created a detailedstep-by-step product guide for users to refer to while using Algomint.

How can I get support if I’m experiencing issues using the platform? chevron

You can request support at any time by leaving a support ticket on the Algomint App orAlgomint.io

Will Algomint add more assets to mint in the future? chevron

Algomint is regularly looking for ways to expand its pool of assets, with USDC set to be integrated next. Other assets that will be added in the future include ERC20 tokens, HNT, and other popular blockchain coins and tokens.

What is the utility of the goMINT token? chevron

Holders of the goMINT token can take part in governance in future to manage the treasury which holds protocol owned liquidity accumulated with fees gathered from various functions, including asset baskets, liquidity aggregator, and arbitrage. Beyond governance there will also be extra incentives such as reduced fees through staking and rewards through participation, including LP rewards pools.

Does Algomint have any incentive programs? chevron

In Q1 2022 it was running part I of the Aeneas Incentive Program supported by the Algorand Foundation. We are planning the next round of liquidity incentive program which will be improved from the first one based on community feedback.

Are there any risks of using Algomint? chevron

As with all DeFi products, users should always do their due diligence and proceed with caution when putting their assets to work on the blockchain. We have a support team that helps with refunds to help minimise your operational risk from using the Algomint product. Check out theSecuritypart of this guide document for further risk and mitigation information.

Algomint Glossary chevron

Asset wrapping: It is also called ‘minting’ or ‘bridging’. The process of bringing an asset from one chain and converting it across to another. This can be done by locking away one asset for the equivalent value of another on the other chain. The reverse process is called ‘unlocking’ or ‘unwrapping’ where you burn the wrapped assets like goBTC or goETH while retrieving the original assets like BTC, ETH, etc.

Community governance: An on-chain governance model which allows users to vote on DeFi project changes directly from the blockchain. This is an important part of the decentralisation process of a project and is the ultimate goal of many Web3 projects, including but not limited to DeFi.

Interoperability on Algorand

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