Decentralized finance (DeFi) protocol Minterest has successfully acquired $6.5 million via fundraising, to financially support a long-term yield optimization platform.

Specifically, the private fundraising round reportedly saw participation from a variety of venture capital entities, including KR1, Digital Strategies, Bitscale Capital, PNYX Ventures, CMT Digital and others.

The team from Estonia is reportedly having goals to direct the freshly obtained fund towards the growth of the lending and borrowing protocol, which it boasts to be created with a target of “making DeFi fairer for users.”

Minterest reportedly employed a buyback mechanism which captures value and transfers every piece of revenue from the platform to its community.

The protocol reportedly carries out the automation of the liquidation process, which makes the capture of fees and interest happen, and is recycled back to its users. 

Numerous DeFi protocols facilitate revenue generating via enabling a small number of users to purchase under-collateralized positions at a market discount.

Minterest will reportedly use any operating surplus to purchase its own native MNT token in an automated manner, which will then be divided to the users, allowing the profit in the users’ pocket will be amplified with some of the protocol’s rewards and revenue, consequently enabling possible higher long-term yields. 

“Through their interactions, users create value on the platform therefore making their participation equitable and rewarding. Without its community, any protocol would be obsolete, and our model places our community at the centre of the value-creation cycle.” Minterest founder and current Head, Josh Rogers, reportedly shared his explanation regarding the new DeFi initiative generating value throughout the whole user ecosystem.