Mint Blockchain releases white paper: NFT ecological network connecting global users and AI Agents

Project Background

According to NFTScan data statistics, in the past 4 years, more than 200 million NFT assets have been issued on mainstream blockchain networks, and the current global NFT market capitalization is in the hundreds of billions of US dollars. Currently, 4,000-6,000 NFT projects are being issued on the blockchain every day, with about 5 million new NFT assets added daily. As the most active crypto asset category on the blockchain, NFTs are thriving.

Compared to fungible Token assets, NFT assets have better scalability and programmability. The Metadata of NFT assets can carry more information and data on-chain, greatly enriching the decentralized data in the blockchain ledger, making the blockchain space more usable and creating more on-chain value. At the same time, NFT assets have a rich and diverse range of application scenarios: AI Agents, IP, RWA, AIGC, music, tickets, membership systems, reputation systems, digital identities, crypto art, games, entertainment, social media, brand marketing and other fields. NFTs can bring a new round of industrial revolution to many Web2 fields, greatly improving their operational efficiency and value capture capabilities. In the near future, we will see a Web3 digital industry revolution led by NFTs.

On another level, as a type of crypto asset that is more easily understood and accepted by the general public, NFTs can efficiently spread the decentralized or distributed ideas carried by crypto technology and blockchain to all parts of the world, which will greatly promote the popularization and application of blockchain technology globally. As a new class of crypto assets, NFTs will play an important role in this process!

In the development of the NFT field over the past few years, our team has seen some problems, such as the low degree of standardization of NFT assets, the lack of liquidity of NFT assets, and the chaos of NFT data copyrights, which will have a significant impact on the NFT industry and ecosystem in the present or future. Therefore, our team decided to build Mint Blockchain, providing Web3 developers with a secure and stable decentralized network, as well as an efficient and agile development environment.

Introduction to the Mint Blockchain Project

Mint Blockchain is an Ethereum Layer2 network launched by the NFTScan Labs and MintCore developer teams, starting construction in October 2023 and releasing the mainnet in May 2024, entering the stage of ecosystem development and construction.

Mint Blockchain is an Ethereum native Layer2 network built on the OP Stack solution, and is also a core member of the OP Superchain. The DA layer of Mint Blockchain uses the Ethereum mainnet, so the underlying ledger security of Mint Blockchain is fully built on the Ethereum network security consensus. At the same time, Mint Blockchain is a fully EVM-compatible public blockchain network, and Ethereum ecosystem developers can seamlessly expand their projects to the Mint Blockchain network. As a Layer2 scaling network, Mint Blockchain greatly reduces the Gas fee cost of on-chain interactions, providing effective scalability for the Ethereum ecosystem.

Currently, the Mint team is building a one-stop open-source underlying infrastructure around NFT assets on Mint Blockchain, including the NIPs Platform, Mint Studio, IP Layer, Mint Liquid, NFT-AI Agent and other NFT infrastructure.

The vision and mission of Mint Blockchain: to use NFTs to connect global users and AI Agents, so that every individual (including humans and AI Agents) in human society can freely own NFT assets, and let NFTs become the highest freedom value carrier in the crypto world!

Core Modules of Mint Blockchain

Mint Blockchain aims to create a decentralized network dedicated to serving the entire life cycle of NFT assets, from issuance to transaction settlement, and to on-chain data indexing. The key modules of Mint Blockchain currently include:

Module 1: Mint Studio

Mint Studio is a creator and developer-friendly NFT issuance tool that supports creators and developers to mint text, image, audio, and video content into NFT assets and issue them to blockchain networks such as Mint Blockchain, Berachain, Base, Optimism, and BNBChain.

Module 2: IP Layer

IP Layer provides IP asset-ization services for NFTs on more than 20 blockchain networks including Ethereum, Mint Blockchain, Solana, Berachain, Base, Optimism, and BNBChain. Anyone can use IP Layer to register and price the copyright of their NFT assets on-chain, and then receive on-chain royalty income.

IP Layer will provide creators with a one-stop IP asset-ization service, helping creators better capture value through creation, which will comprehensively revolutionize the traditional copyright market, allowing copyright value to be traded and settled through the blockchain, more efficiently and fairly.

Module 3: Mint Liquid

Mint Liquid is a liquidity product built by the Mint team based on protocols such as Superchain, ERC7683, Uniswap, and Across Protocol, supporting multi-chain NFT and Token asset trading. It realizes multi-chain liquidity aggregation and cross-chain asset interoperability.

Mint Liquid will greatly improve the trading efficiency of on-chain crypto assets, reduce the friction cost of on-chain transactions, better provide price discovery capabilities for new crypto assets, and promote the prosperous development of the on-chain trading market.

Module 4: RWA-Rareshop

RareShop is the world's first consumer-oriented RWA NFT commodity sales platform. RareShop uses the ERC7765 asset protocol standard to issue RWA NFT assets, providing merchants and consumers with a new shopping scenario and interaction mode, including crypto payment, privacy protection, pre-sale of goods, gift giving, physical delivery, etc., providing a one-stop Web3 digital technology solution and marketing solution for global brands and enterprises.

The ERC7765 asset protocol standard is proposed by the Mint Blockchain team to the Ethereum community, aiming to provide an industry standard for RWA NFT asset issuance. Currently, the ERC7765 protocol standard has been applied in the Mint ecosystem.

Module 5: NFT-AI Agent

NFT-AI Agent is an AI Agent product focused on the NFT field, built by the Mint team based on modules such as NFTScan, Mint Studio, IP Layer, and Mint Liquid.

NFT-AI Agent has 4 basic functions:

1) NFT Image Recognition

2) NFT On-chain Data Retrieval

3) Token/NFT On-chain Transactions

4) NFT Market Trend Analysis

Business Summary:

Through the development and construction of the above 5 core modules, Mint Blockchain will build a decentralized network focused on serving NFT assets, from NFT asset issuance, to trading & settlement, to on-chain data indexing, serving the entire life cycle of NFT assets. Mint Blockchain aims to make NFTs the largest value carrier in the crypto world, so that everyone can own NFT assets, and let NFTs become the free asset that connects humans and AI Agents.

About the Mint Ecosystem Incentive Mechanism

In order to better promote the innovation of NFT asset protocol standards and consumer applications, Mint Blockchain has introduced an incentive mechanism focused on innovative asset protocol developers at the economic model level, funded by MintDAO. The specific content is as follows:

• NFTs to Earn mechanism: Encouraging creators to issue new NFT assets in the Mint ecosystem.
• Mint Eco Fund: Investing in and supporting native applications and developer teams in the Mint ecosystem.
• ETH Gas Reward Mechanism: Providing ETH Gas rewards for high-quality protocol standards and applications.
• RetroPGF Mechanism: Providing long-term retrospective rewards for the builders of the Mint ecosystem infrastructure.

Mint Blockchain Economic Model

Native Asset Name: Mint

Asset Symbol: $MINT

Total MINT Supply: 1 billion

$MINT Token Initial Distribution Mechanism:

82% allocated to community builders & early supporters and developer ecosystem

• MintDAO: 50%
• Launch Contributors: 20%
• Community Airdrop: 12%

18% allocated to MintCore Team

$MINT Token Utility

• Governance Rights: $MINT has voting governance rights;
• Ecosystem Incentives: Incentivize developers to build on the Mint Blockchain;
• Usage Rights: $MINT is the official native cryptocurrency on the Mint Blockchain, and is the designated Staking cryptocurrency in the process of becoming a distributed validator node on the Mint Blockchain;
• Asset Pricing: $MINT will be used for asset issuance and transaction pricing of RWA, NFT, Token, Meme, etc. on the Mint chain.

$MINT Staking & Restaking Mechanism

Mint Blockchain will achieve decentralized distribution of Mint network transaction ordering rewards through user participation in $MINT Staking & Restaking operations.

After the $MINT TGE, users can participate in $MINT asset Staking operations through the MintPool protocol. MintPool is a decentralized staking protocol on the Mint Blockchain network that supports Staking of $MINT, $ETH, and NFT assets.

When users perform $MINT Staking operations, they need to select a Staking Node to implement the staking. About Staking Nodes:

• Super Node: Super Nodes are initially evaluated and generated through reputation nodes, Super Nodes need to stake a certain amount of MINT assets to MintDAO and run a node server. Super Node members need to deeply participate in the development and construction of the Mint ecosystem, usually composed of relatively large infrastructure and investment institutions in the Mint ecosystem.
• Base Node: Base Nodes are basic nodes generated by the community, usually composed of the Mint global community and developer community. Base Nodes are more open, with lower thresholds, and any developer organization and crypto community can apply to join the Mint ecosystem.

Super Node and Base Node members can receive node mining rewards provided by MintDAO, based on the amount of $MINT staked by each Staking Node, generally 10% of the user Staking mining rewards, which are additionally rewarded by MintDAO to the Staking Nodes.

After users stake $MINT Tokens through the Staking Node, they can obtain the staking certificate sMINT Token, sMINT stands for Staked MINT.

Holding sMINT can obtain a fixed APR of 15% $MINT Token mining rewards, provided by MintDAO as mining rewards.

After obtaining sMINT, users can synthesize the BC721 Mint-eNFT asset (the number of sMINT required for synthesis changes in real-time according to the Bonding Curve curve, with stronger game mechanics and entertainment). Holding BC721 Mint-eNFT can obtain 50% mining rewards of the Mint Blockchain ordering ETH revenue (ordering revenue - DA fee - Superchain fee). The whole process can be understood as the Restaking operation of $MINT assets.

In summary, users can obtain the following 2-layer rewards by participating in $MINT Staking & Restaking operations:

1st Layer Reward: 15% APR $MINT as Staking rewards;

2nd Layer Reward: 50% of the net ETH revenue of the Mint Blockchain network ordering as Restaking rewards.

Through $MINT Staking & Restaking operations, the capital utilization rate of $MINT assets is greatly improved, and the security and economic system stability of the Mint Blockchain network are also improved. It also realizes the decentralized distribution of the ETH revenue of the Mint network ordering, allowing community users to capture the development dividends of Mint Blockchain in the long term, strengthening community consensus, and enhancing the enthusiasm of the community to participate in the development of the Mint network, jointly promoting the prosperous development of the Mint Blockchain.

MintDAO Organization

MintDAO is the decentralized autonomous organization within the Mint Blockchain ecosystem, and MintDAO manages 50% of the $MINT economic total supply assets using a multi-signature wallet. As the Mint ecosystem develops, the multi-signature authority of MintDAO will be gradually released to the core organizations and builders in the Mint ecosystem, gradually realizing the decentralization of ecosystem development governance.

The core functions of MintDAO:

• $MINT Liquidity Provision: MintDAO provides early liquidity for $MINT assets.
• Mint Staking Mining Incentives: The $MINT staking mining incentive funds are provided by the MintDAO organization;
• Mint Eco Fund: Directly managed by the MintDAO organization, investing in innovative products and protocols in the Mint ecosystem.
• Mint Blockchain Brand Building: Promote the global brand influence of Mint Blockchain and the popularization and education of the global NFT market.
• Mint Community Growth: Establish MintHub to promote the community building and development of Mint Blockchain in various regions around the world, allowing more people to understand and use the Mint network.
• Mint Ecosystem Growth: Organize online & offline developer events to promote the construction of the Mint Blockchain developer ecosystem.

Sources of MintDAO Organization Funds:

• Initial allocation of 50% of the $MINT economic total supply: 500 million $MINT;
• Part of the ETH revenue from the Mint Blockchain ordering will enter the MintDAO treasury;
• Mint Eco Fund investment returns belong to the MintDAO treasury;

Every major expenditure from the MintDAO treasury will be publicly disclosed on-chain and can be viewed by the entire network. For the daily operating expenses of the MintDAO organization, they will be audited by a third-party audit agency.

Mint Blockchain Information Links

Website: https://mintchain.io/

X: https://x.com/Mint_Blockchain

Discord: https://discord.com/invite/mint-blockchain

Github: https://github.com/Mint-Blockchain

Blog: https://mirror.xyz/mintchain.eth

Ecosystem: https://www.mintchain.io/applications

Mint Eco Fund: https://www.mintchain.io/ecofund

MintPool: https://mintpool.mintchain.io/

Developer Docs: https://docs.mintchain.io/

Block Explorer: https://explorer.mintchain.io/

NFTScan: https://mint.nftscan.com/

L2beat: https://l2beat.com/scaling/activity

Growthepie: https://www.growthepie.xyz/

Similarweb: https://www.similarweb.com/zh/website/mintchain.io/

Conclusion

Mint Blockchain is committed to becoming an important transformative force in the NFT ecosystem, providing a secure, scalable and decentralized infrastructure to empower creators, developers and users in the Web3 world. Leveraging Ethereum Layer 2 technology, and integrating advanced solutions such as Mint Studio, IP Layer, Mint Liquid, RareShop and NFT-AI Agent, Mint Blockchain is building the core foundation for the future development of NFTs and decentralized applications.

With the mission of connecting global users and AI Agents, Mint Blockchain aims to build a vibrant and inclusive ecosystem where everyone can freely own and trade digital assets. The MintDAO governance model and innovative incentive mechanism ensure the long-term growth and sustainability of the platform, while its multi-chain compatibility and seamless interoperability give it significant value in the broader Web3 space.

As the Mint Blockchain ecosystem continues to evolve, our vision remains unwavering: to unlock the true potential of NFTs as a decentralized value carrier, and usher in a new era of digital ownership and innovation. By promoting NFT standards, expanding decentralized finance applications, and transforming multiple industries globally, Mint Blockchain stands at the forefront of the Web3 digital revolution.