coincodex.com
As time goes by, many new decentralized projects, as well as users are jumping off the Ethereum boat, and looking towards other more seamless options. Credit where credit is due, Ethereum has paved the way for a whole new world of finance, that is capable of overthrowing traditional banking and savings. However, Ethereum is slow to move away from its current clunky blockchain consensus (Proof of Work), which means sluggish transaction speeds and ultra high fees.
In the time it is taking for Ethereum to roll out an upgrade to the newer lighter and more efficient Proof of Stake concept, many other blockchains and projects hosted on them are getting a head start.
Ramping up Towards Governance
Public Mint is just one of them. This revolutionary platform is drawing the worlds of crypto and fiat closer to one another. It is a fully collateralized, regulated and insured platform for synthetic fiat currencies.
And now Public Mint is shaking up the industry up once again with EARN, its community-first investing platform. MINT, which is the native token behind the Public Mint ecosystem, is being used as a reward for those investors that move their holdings from Ethereum directly onto the Public Mint Network.
This scheme is running for the next 4 months and has already caused quite a stir from day 1, with the transfer of over seven million MINT tokens in the first 24 hours, to the value of $1 mn+. They do this via the Ethereum-Public Mint bridge. Once there, users can claim passive rewards each and every day on their holdings. Users can earn 20% APY on holdings until October 11, and from there it drops to 15% until December.
This one-way bridge, on January 17, 2022, then becomes a two-way bridge, where users can transact on Public Mint and then quickly move their tokens to Ethereum and vice versa.