On February 10, 2022, Minke announced its DeFi wallet will launch on Polygon, bringing decentralized finance the low fees and user experience we expect from our favorite fintechs.
While we have seen the explosion of DeFi over the past couple of years with over $81 billion locked in protocols as of February 2022, according to DeFi Pulse we are yet to see the same mainstream consumer adoption seen by the likes of Revolut and Cash App within the crypto industry.
Minke is ready to disrupt that and has won the backing of Startmate, Australia’s biggest accelerator.
Josh Reyes, co-founder and CEO of Minke, said,
“We believe that the top saving and lending protocols in DeFi will be among the top five banks globally by the end of the decade and we will be your default app to use them.”
Accessibility is essential, and it shouldn’t only be tech gurus and crypto natives who benefit from the high earning potential in DeFi, says Minke. So, with a focus on removing the requirements for technical knowledge while still providing the industry-leading interest rates that any true DeFi degenerate expects, they are building an app that both the hardened degen and the crypto-curious around their dinner table will want and be able to use.
Reyes continues,
“Gas fees on Ethereum [are] near $100 per transaction and are preventing everyday users from transitioning to DeFi. We’re solving that problem by offering the first native Polygon DeFi wallet, with fees up to 100 times lower than seen on layer one.”
Polygon itself has been riding a massive wave of success on the back of a $450 million capital raise led by Sequoia.
Reyes adds,
“While we are building with simplicity in mind, we are also making sure that we bring the best that DeFi has to offer. At launch, we will have interest rates 40 times higher than your bank, at up to eight percent, and we’ll be integrating mStable vaults that have seen up to 25% APY recently on Polygon.”
Minke’s features and benefits include deposits via Apple Pay in a few clicks, industry-leading interest rates and top-ups straight to Polygon with low gas fees.
Minke is launching publicly in March. For more information and to sign up for early access (with a chance to win $10,000 in MATIC), visit here.
About Minke
Minke is the first DeFi wallet natively built on Polygon. We look and feel like your favorite fintech in the front but are powered by DeFi’s open and permissionless finance applications in the back. With the backing of Startmate Australia’s biggest accelerator we’re bringing decentralized finance to the dinner table without forcing you to learn what a blockchain is.
