MintyDAO Integrates Chainlink Automation to Help Distribute Token Emissions to LPs

We’re excited to announce that MintyDAO — an all-inclusive NFT, ENS, and DeFi protocol — has integrated Chainlink Automation live on the Ethereum mainnet. We are leveraging Chainlink Automation to securely and cost-efficiently trigger our mint function and distribute native token yield to liquidity pools on the MintyDAO DEX. Ultimately this gives users high assurances that providing liquidity to DEX pools consistently returns the expected yield from the MintyDAO protocol.

We decided to use Chainlink Automation to help power MintyDAO’s mint and distribution function because of its proven reliability and low execution cost. The time-tested infrastructure of Chainlink helps ensure that every mint is executed on time in a trust-minimized manner, giving users additional guarantees that it will function exactly as intended.

MintyDAO is an ENS competitor that aims to solve the problem of rampant domain name squatting. The protocol also offers a similar solution for NFT royalties using the popular Harberger Fees proposal that aligns projects and holders by ensuring artists earn royalties for their work. Lastly, MintyDAO has a DeFi suite where it offers APY for liquidity pools in its Solidly fork on Ethereum through native token emissions. MintyDAO members can vote on both APY emissions and treasury allocation, while MintyDAO builds its on-chain treasury using a mechanism called MintBonus.

While several of the above functions can benefit from Chainlink Automation, we started with weekly token emissions to stables and other pools that have been integrated to help ensure timely and decentralized execution of the mint function.

Beyond that, we anticipate thousands, or even millions, of ways that Chainlink Automation nodes can help monitor and execute functions in the MintyDAO protocol. For example, the payment of fees for NFT holders for collections launched with MintyDAO, paying Harberger Fees, and covering recurring fees on every Minty domain.

Chainlink Automation is a decentralized service purpose-built to manage tasks on behalf of smart contracts. Chainlink Automation leverages decentralized, hyper-reliable, and economically incentivized automation nodes to wake up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price).

Some of the notable features of Chainlink Automation include:

  • Highly reliable, performant, and decentralized automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.

MintyDAO aims to integrate even more Chainlink services, including for our planned Augur-like predictions market. Users can create predictions not only on DEX conditions, but also for anything with a Chainlink Price Feed, such as NFT floor prices and asset prices.

“We selected Chainlink Automation because it’s the best service available for reliable, secure, and decentralized contract execution. MintyDAO is creating a better domain system for the Web3 ecosystem, and that means using the best infrastructure there is on the market.” — MintyDaoist, Founder of MintyDAO.

About Chainlink

Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About MintyDAO

MintyDAO is a NFT, ENS, and DeFi protocol launching a new decentralized domain names and NFT standard that ensures royalties for artists. MINTS tokens earn from revenues and are used for NFT and ENS minting behind the scenes, seamlessly for users. MintyDAO has its own Solidly DEX fork on Ethereum with DAO treasury voting, stable pools, and other APY emissions.

Original version

MintyDAO Integrates Chainlink Automation to Power guaranteed stable pools APY emissions

We’re excited to announce that MintyDAO — NFT & ENS DeFi protocol — has integrated Chainlink Automation live on the Ethereum mainnet. We are leveraging Chainlink Automation to securely and cost-efficiently trigger our mint function. As a result, APY emissions to our stablecoin pools is enssured.

We decided to use Chainlink Automation to power MintyDAO’s mint function because it is the most reliable Web3 automation service. The Chainlink Automation Network is operated by the same pool of time-tested, provably reliable node operators that currently help secure tens of billions of dollars in DeFi, even during record levels of network congestion and extreme volatility. The proven infrastructure of Chainlink helps ensure that every mint is executed on-time in a trust-minimized manner, giving users additional guarantees that it will function exactly as intended.

MintyDAO will compete with ENS by launching Vitalik Buter’s proposed fix to the domain names public goods system using recurring demand-based fees to reduce squatters’ negative value . MintyDAO offers a similar solution for NFT royalties using the popular Harberger Fees proposal that aligns projects and holders by ensuring artists earn royalties for their work. MintyDAO has a DeFi suite by which it offers APY for stable pools in its Solidly fork on Ethereum in the form of MINTS tokens. MintyDAO allows for voting not only on APY emissions but also on treasury allocation. MintyDAO builds its onchain treasury using a price-increasing mechanism (opposite to DeFi 2.0 bonds) via its MintBonus.

Several of the above functions can benefit from Chainlink Keepers. Firstly, weekly APY MINTS emissions to stables and other pools have been integrated to ensure timely and decentralized execution of the mint function. Beyond that, there could be thousands or even millions of Keepers needed to monitor & execute the payment of fees for every single NFT holder of every NFT collection launched with MintyDAO, paying Harberger Fees, and likewise to pay recurring fees on every Minty domain.

Chainlink Automation is a decentralized service purpose-built to manage tasks on behalf of smart contracts. Chainlink Automation leverages decentralized, hyper-reliable, and economically incentivized automation nodes to wake up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price).

Some of the notable features of Chainlink Automation include:

  • Highly reliable, performant, and decentralized automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.

MintyDAO has even more future use for Chainlink products, such as for its Augur-like predictions market. Users can create many predictions not only on DEX conditions, but also for anything with a Chainlink pricefeed, from NFT floor prices to stocks & sports results. Many Keepers can again be used to ensure timely contract execution to finalize results upon the end dates of all such predictions.

“We selected Chainlink Keepers as the best platform to ensure reliable decentralized contract execution” — MintyDaoist, MintyDAO founder

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About MintyDAO

MintyDAO is a NFT & ENS DefI protocol launching a new decentralized domain names and NFT standard that ensures royalties for artists. MINTS tokens earn from revenues and are used for NFT and ENS minting behind the scenes, seamlessly for users. MintyDAO has its own Solidly DEX fork on Ethereum with DAO treasury voting, stable pools and other APY emissions. Chainlink Keepers ensures these emissions get minted weekly.

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MintyDAO io

mintydao.io — DeFi meets build-to-earn NFT worlds — First DEX with contracts controlled DAO treasury, complete with vote & bribe earnings