We’re proud to announce that Minke is now live on the iOS app store!
The Minke team is so excited to ship this to you, our first users, our OGs. We’ve been building and taking feedback onboard for a while now and will continue to do so – so please join our Discord community and give any thoughts you have. We’re here to serve our users best and your feedback is instrumental in helping us to do so.
Our goal is to be a fundamental part of bringing better and more transparent finance to the people who need it most. Now, more than ever, there is a need for borderless and permissionless finance and I’m going to take this opportunity to tell you why and how Minke is contributing to bringing DeFi to the masses.
Let’s start at the beginning.
What is Minke?
Minke is a non-custodial DeFi wallet – but what does that actually mean and why does it matter?
For as long as we can remember, our money has been controlled by centralized companies. Our income is deposited into a bank account, which we must apply for and receive approval to open. Access to our funds is controlled by the bank we choose to trust. This comes with benefits – these entities are heavily regulated and covered by consumer protections.
However, this model also comes with downsides. There’s a lack of transparency – we’re not able to contribute to making decisions as to where or how our money is held or invested. There are legacy systems which make security difficult, a lack of innovation due to the old ways working well for those at the top, and huge operating costs that eat into the earning potential of those who choose to place their savings in accounts operated by their bank.
With DeFi we finally have an alternative. Transparent and efficient infrastructure that enables better finance for everyone. While in western countries that usually means higher savings rates, in developing markets it importantly means protection from inflation.
Over the last decade many countries have seen the value of their local currency drop rapidly against the US Dollar, creating even more global inequity. We see Minke as the best option for anyone to access a high yield US Dollar savings pool globally, and we’re here to make the process as simple as possible.
So, to the original question. What is a non-custodial DeFi wallet? Think of it as software that allows you to connect to an internet-based financial system. We’re not a bank – we never hold your money and there’s no application process. You simply open a wallet and the world of DeFi is at your fingertips.
In short, Minke is the easiest way to save, earn and invest with DeFi on mobile. We let you buy crypto in 3 clicks using Apple Pay and earn interest on it in 4 more. We’re global from day one because everyone should have access to permissionless finance, and you can save using stablecoins that are pegged to the value of the US Dollar – so regular crypto volatility isn’t an issue.
What is DeFi?
DeFi is an internet-based, peer to peer financial system. Instead of interacting with companies, you interact with smart contracts (code) that are programmed to allow various financial transactions to take place transparently and without permission.
It’s a huge industry, having grown to 77 billion USD locked in the various DeFi protocols within 2 years. Aave and Compound would already be in the top 100 banks! The problem is, DeFi protocols are mostly available via desktop and they’re extremely difficult to use and understand.
With DeFi, you can save at much higher rates than at your bank and you maintain sole ownership of your assets.
Minke’s Goals and Values
Our goal is simple. We believe that by 2030, the top DeFi protocols will be in the top 5 banks globally. We’ll be your default consumer interface to use them.
To do this, we need to build trust with our users. We’re committed to bringing transparency and always bringing you what we believe to be the safest and most sustainable options. We’ll never go down the route of following the hype trends seen in the cryptocurrency world, Minke is a place to rest your money. By using better and more transparent finance we’re empowering you to earn more from your money. It’s a new paradigm that might not be for everyone – but we’ll provide education to empower you to learn and decide what’s best for you.
Every major industry outside of Finance has been shaken up and transformed by technology. Now it’s our time.