VOTE #2. Migration from the HECO chain to the BNB chain.

We are proposing to migrate from HECO to BNB and focus our subsequent efforts on the BNB chain.

Why are we proposing this? The Minto ecosystem is currently supported by two blockchains (HECO and BNB). HECO has not been maintained by its team since the spring of 2022. Blockchain development has slowed down significantly, practically coming to a halt. We are observing a negative growth dynamic in the number of transactions, liquidity and the influx of new users and projects. The blockchain has not been updated in a long time, and its team is no longer in touch. As a result, the market release of our new products has slowed down, and it has become more difficult to support our current HECO blockchain projects. We believe that releasing new cross-chain products where one chain is inactive has no purpose or benefits for us or our community.

Our team recognizes the risks of continued development of Minto products and its ecosystem on the HECO blockchain.

Your decision will allow us to either launch the process of migrating to the BNB chain, or leave everything as is.

Please refer to our blog for more information on the HECO indicators and development prospects @ https://minto.finance/blog/article/heco-and-bsc-blockchain-comparison

What will change and what are the benefits? The changes will affect part of Minto’s current infrastructure. We’ll launch a bridge between HECO and BNB so that the community can switch their tokens to the BEP-20 format on the BNB chain. We’ll redirect all the BTC mined in the future on the current smart contracts to the BNB chain We’ll transfer all liquidity from MDEX (HECO) to Pancake Swap (BNB chain) We’ll no longer provide HECO support in our new products.

These changes will help us focus on developing a BNB chain-based ecosystem and minimize the HECO bug and disconnection risks. Increasing liquidity volume on Pancake Swap will lower the volatility of the $BTCMT token. Usage of the BNB chain will allow access to new options, such as an in-wallet swap and token purchase using bank cards. We’ll be able to accelerate the delivery and improve the quality of our new products.

How will it work? Between 10/06/2022 and 10/31/2022 we’ll launch a bridge between HECO chain and BNB chain here @ bridge.minto.finance Using this bridge, you’ll be able to exchange your $BTCMT (HRC-20) tokens to the $BTCMT (BEP-20) tokens 1:1.

On 10/31/2022 we’ll fully transfer BTC mining to staking and auto-staking smart contracts on the BNB chain. After using the bridge and staking your tokens on the BNB chain you’ll be able to mine BTC as before. There will be no changes in the mining mechanics or smart contracts.

On 10/06/2022 we’ll transfer liquidity from MDEX to Pancake Swap, thus increasing total liquidity.

If the community votes for the changes, we’ll focus on developing new products on the BNB chain without HECO support.

What is required for this to work? Voting on the blockchain will take place @ https://vote.minto.finance/#/

Voting period: 10/03/2022 to 10/05/2022 10:00 UTC.

Over 51% "YES" votes are required to implement changes. If over 51% of the votes are "YES" votes, the changes will come into force on 10/06/2022 and we’ll begin to implement the scenario described in the “How will it work?” section.

The weight of your vote will be proportionate to the number of tokens you own. You’ll be able to vote even if your tokens are on staking and auto-staking smart contracts. Connect your wallet, choose an option and vote.

If you have difficulty voting or would like to know more details - join our community and we’ll definitely have a discussion here: https://t.me/btcmtofficialchat