Minke is a self-custodial wallet that enables stablecoin utility and access to better finance globally.
Minke is a self-custodial wallet that enables stablecoin utility and access to better finance globally.
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We’re Minke and we’re the easiest way to save, earn and invest with DeFi on mobile. Minke started with two simple ideas.
You can create the first truly global fintech with the money legos available in DeFi today
Those money legos need to be drastically more accessible for those not native to crypto.
Since the explosion in the DeFi summer of 2020, we’ve seen all the building blocks of modern finance be built on Ethereum and it’s layer 2s. Lending, investing, options, derivatives, synthetics… the list goes on. Last year we passed $100B in value locked within DeFi. But the most impressive achievement is that at their peak Aave and Compound would be classified in the top 100 banks in the US based on assets held. For protocols that have been around for less than 5 years and have only achieved significance within the last few, their run of success is unfathomable in an industry where the incumbents are so entrenched.
While the titles of world’s largest companies have gone from Exxon Mobil, Walmart and General Motors to the technology giants of Apple, Microsoft and Amazon in what seems like the blink of an eye. The top 5 banks in the US in 1970 are largely the same today in 2022. In many ways, the banks remain the final boss in technology’s quest to take over the world - but they’re facing their first battle worthy competitor.
But while DeFi and its top liquidity protocols have seen unprecedented success, they’ve yet to cross the chasm into the mainstream. The reality is a non-crypto native landing on Aave or Compound is quickly lost, and can’t pick up the Dapp like they’d pick up the latest fintech app. From buying crypto on an exchange to downloading Metamask, the experience is broken and so far from usable for those new to the space. Our intent at Minke is to build a web3 wallet that looks and feels like the latest fintech, but is completely powered by the open and permissionless money legos that DeFi affords.
While some have tried to solve the usability problem with centralized and custodial approaches, we don’t believe this represents a substantial departure from the old systems or a sustainable way forward. Recently BlockFi has suspended their Interest Accounts after settling with the SEC. Celsius reportedly lost over $50M of user funds in the BadgerDAO front-end hack. Firstly, launching these products on a global scale and where they are most needed is near impossible from a compliance and infrastructure standpoint. Most importantly though, is these approaches lack the transparency that web3 should stand for. As a centralized provider you typically will make your money on margins between saving and borrowing, or from the yield generated above what’s said to be paid out. This incentivizes risky investments in chase of higher profits and robs lenders from the true interest they’ve gained by putting their money to work.
At Minke we give you direct access to lending protocols including Aave and mStable, we never take fees here and you get the full interest your money earns. Only you can access your money, not Minke, or anybody else. And because you have custody over your own funds, Minke is available to everyone regardless of borders, barriers or boundaries. The past few years have shown us the existential need for an open financial system without intermediaries. We believe Ethereum is ready to bring decentralized finance to the masses and we’re ready to do our part.
We’re already rolling out early access. You can sign up for the waitlist here and get a chance to win $10k in MATIC here: https://waitlist.minke.app/
We’re Minke and we’re the easiest way to save, earn and invest with DeFi on mobile. Minke started with two simple ideas.
You can create the first truly global fintech with the money legos available in DeFi today
Those money legos need to be drastically more accessible for those not native to crypto.
Since the explosion in the DeFi summer of 2020, we’ve seen all the building blocks of modern finance be built on Ethereum and it’s layer 2s. Lending, investing, options, derivatives, synthetics… the list goes on. Last year we passed $100B in value locked within DeFi. But the most impressive achievement is that at their peak Aave and Compound would be classified in the top 100 banks in the US based on assets held. For protocols that have been around for less than 5 years and have only achieved significance within the last few, their run of success is unfathomable in an industry where the incumbents are so entrenched.
While the titles of world’s largest companies have gone from Exxon Mobil, Walmart and General Motors to the technology giants of Apple, Microsoft and Amazon in what seems like the blink of an eye. The top 5 banks in the US in 1970 are largely the same today in 2022. In many ways, the banks remain the final boss in technology’s quest to take over the world - but they’re facing their first battle worthy competitor.
But while DeFi and its top liquidity protocols have seen unprecedented success, they’ve yet to cross the chasm into the mainstream. The reality is a non-crypto native landing on Aave or Compound is quickly lost, and can’t pick up the Dapp like they’d pick up the latest fintech app. From buying crypto on an exchange to downloading Metamask, the experience is broken and so far from usable for those new to the space. Our intent at Minke is to build a web3 wallet that looks and feels like the latest fintech, but is completely powered by the open and permissionless money legos that DeFi affords.
While some have tried to solve the usability problem with centralized and custodial approaches, we don’t believe this represents a substantial departure from the old systems or a sustainable way forward. Recently BlockFi has suspended their Interest Accounts after settling with the SEC. Celsius reportedly lost over $50M of user funds in the BadgerDAO front-end hack. Firstly, launching these products on a global scale and where they are most needed is near impossible from a compliance and infrastructure standpoint. Most importantly though, is these approaches lack the transparency that web3 should stand for. As a centralized provider you typically will make your money on margins between saving and borrowing, or from the yield generated above what’s said to be paid out. This incentivizes risky investments in chase of higher profits and robs lenders from the true interest they’ve gained by putting their money to work.
At Minke we give you direct access to lending protocols including Aave and mStable, we never take fees here and you get the full interest your money earns. Only you can access your money, not Minke, or anybody else. And because you have custody over your own funds, Minke is available to everyone regardless of borders, barriers or boundaries. The past few years have shown us the existential need for an open financial system without intermediaries. We believe Ethereum is ready to bring decentralized finance to the masses and we’re ready to do our part.
We’re already rolling out early access. You can sign up for the waitlist here and get a chance to win $10k in MATIC here: https://waitlist.minke.app/
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