Following Minswap’s recent success, the team wants its native token listed on Aada Finance.
With Minswap becoming the most valuable decentralized exchange on Cardano, a proposal has been made by the team to list its native governance token on the Aada Finance V1 platform.
The proposal was created yesterday for the purpose of listing Min Token (MIN) as an asset for borrowing on the leading Cardano-based lending and borrowing protocol, Aada Finance.
Minswap Features and Success
Min token is the native cryptocurrency of Cardano’s decentralized exchange Minswap. The decentralized exchange is community-driven, allowing users to swap, provide liquidity, and yield farming.
It is worth noting that Minswap has the most liquid AADA/ADA pool among all other Cardano decentralized exchanges. Furthermore, Minswap currently has one of the most traded liquidity pools on the Cardano network with its own native token pair MIN/ADA.
Interestingly, the platform recently attracted ADA investors’ attention after it became Cardano’s most valuable decentralized exchange, with a total value locked (TVL) of $48.59 million.
“As such, we would like to propose the addition of the $MIN token in Aada V1 as an asset for borrowing,” the proposal reads.
According to the Minswap team, the project has never been a recipient of venture capitalists (VC) funding, which has contributed to making MIN tokens’ distribution to be fair.
Notably, adding MIN to Aada Finance will be beneficial to the lending and borrowing platform, given that the asset class is the most traded token in the Cardano ecosystem.
MIN Tokenomics
Additionally, MIN has promising future prospects in terms of fee sharing and governance. The cryptocurrency has a total supply of 5 billion, with a huge portion of the tokens dedicated to the community.
According to MIN tokenomics, 70% of its total supply is allocated to yield farmers, 10% is reserved for the core team, and 10% is distributed to the development team. In comparison, 6%, 2.5%, and 1.5% are reserved for DAO Treasury, Fiso Airdrop, and partnerships.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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