Mynth launches Initial DEX Offering (IDO) to enable cross-chain token transfers

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Written on Jan 21, 2025

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Mynth is decentralised cross-chain protocol designed to enable trustless and seamless asset transfers.
It has officially launched its Initial DEX Offering (IDO) today.
Participants can purchase MNT using coins or USDC on multiple launchpads across nine blockchains.

Mynth, a decentralised cross-chain protocol designed to enable trustless and seamless asset transfers, has officially launched its Initial DEX Offering (IDO) today.

The platform aims to redefine blockchain interoperability by allowing users to swap tokens across multiple networks without relying on centralised intermediaries.

Mynth operates as a layer-zero ecosystem, providing a decentralised, trustless, and non-custodial solution for cross-chain transfers. The protocol supports peer-to-peer swapping of any token across various blockchains.

According to Mynth’s founder, Robert Roose:

“Mynth’s IDO is not only a first of its kind, it marks a pivotal moment to deconstruct borders and offer Mynth’s underlying utility token to users worldwide. This transition from private beta to open access will showcase Mynth’s cross-chain communication capabilities to broaden accessibility and bring mass web3 adoption.”

MNT Token: core of the ecosystem

The ecosystem is powered by Mynth’s native utility token, MNT, which facilitates governance, network decentralisation, staking, and ecosystem rewards.

The MNT token is deflationary, featuring a buyback-and-burn mechanism funded by protocol fees.

The fees collected by the protocol are used to buy back MNT from the market which are subsequently burned.

This ensures a continuously shrinking token supply, supporting long-term value growth.

IDO Details

Launch Date: January 21, 2025
Price: $0.10 per token
Token Supply: 99,989,832 MNT (fixed)
IDO Allocation: 50,000,000 MNT
Type: Fixed price on 9 different blockchains
Vesting: Core team tokens vest linearly over 36 months

Participants can purchase MNT using coins or USDC on multiple launchpads across nine blockchains.

Proceeds from the IDO will fund the creation of Protocol-Owned Liquidity (POL) in AMM DEX liquidity pools at a price 20% above the finalised fair launch price determined by the market.

The liquidity pool tokens will be locked in the Mynth DAO Treasury for 12 months to ensure market stability and incentivize early investors.

Following the IDO, Mynth will enable cross-chain swaps for MNT tokens, further cementing its vision for a unified, interoperable web3 ecosystem.