Ошибки выбора: Как Minter упустил шанс на успех Headline: Choice Mistakes: How Minter Missed Its Shot at Success

Опубликовано: 26 сентября, 2025

Evgeny Gordeev (E.G.): At the end of 2017, DeCenter was the first to publish the official documents related to Pavel Durov’s project, the Telegram Open Network.

Watching the market’s evolution, I recognized that this blockchain was extremely inconvenient for the masses. TON, with its vast potential, delved into complex scalability issues in an effort to create a fully decentralized Web3. I realized that the average user didn’t actually need that. We began to explore how to create a blockchain for people. Konstantin Lomashuk from cyber•Fund provided us with guidance.

Initially, we aimed to create a network based on a fork of Ethereum, but we were advised to look into Tendermint. This was the most foolish mistake we could make. We should have simply focused on what would later be called L2, or a fork of Ethereum; then we would have certainly created something much better. But by nature, we tend to dive headfirst into the deepest quagmire.

By the middle of the summer of 2018, we had a testnet, started recruiting validators, and launched the main network in May 2019.

FL: Was there an idea to create a blockchain integrated with the Telegram Open Network?

E.G.: We didn’t build a blockchain for TON. We were the first to negotiate with them to use their smart contracts. Minter didn’t have its own due to optimization concerns. However, when the original TON got stalled due to legal issues with the SEC, we implemented it on the Ethereum and BNB Smart Chain blockchains.

Our initial goal was to create a fast and reliable private money platform with a high throughput of up to a thousand transactions per second and low fees. Essentially, this is what Solana accomplished, just without such a level of scams.

We contemplated rewarding the top community members with coins, ensuring their liquidity through integrated trading mechanisms.

FL: The Minter white paper mentions «instant liquidity» for the issued coins. Were you able to bring this concept to life?

E.G.: I might be mistaken, but we’ve issued around 2,500 coins and have about fifteen hundred pools in the system.

FL: Were all launches successful, or did some projects turn out to be less than reputable?

E.G.: There were a number of successful launches, but in any open system, the first to arrive are usually scammers. They don’t need to build anything; they just need to sell something to people. If an ordinary project spends 10% on promotion, scammers can afford to spend up to 50%, thus gaining significant marketing influence over the market.

Scammers saw the launch of initial tokens from validators and several other exciting projects and began creating their supercoins with incredible promises. At that time, Minter had people who were not very familiar with crypto, and it was clear they jumped into everything possible and impossible.

In general, I think 99% of what has been launched in crypto over the past 15 years is primarily scams. We can combat this issue, and we will soon announce our plans to do so.

FL: Where is the BIP token currently traded? And what about its price?

E.G.: From the very beginning, we positioned ourselves to view all CEX as scams, which is why BIP trades within Minter. We have various types of wrapped top assets like Ethereum, BNB, USDT, USDC, and so on. However, trading volume there is extremely low because the token’s price has fallen roughly a thousand times since launch.

This issue arose due to a serious mistake in tokenomics that Durov and many other players later repeated. The idea was to distribute 100% of the token issuance between validators and developers—those who created the economy. They were supposed to accumulate the token and slowly sell it to cover their expenses while continuing to develop applications and increase corporate value.

New people joined, and in the first month, BIP increased tenfold. Euphoria set in, and everyone started pouring into the market. The price began to drop, sales accelerated—it created a snowball effect.

FL: Were there any unlocks, or did the distribution occur without vesting?

E.G.: There is a smooth vesting mechanism built into BIP mining. At the start, everyone had 1% of the issuance, and now it’s around 85%, with new coins being mined every five seconds. This was also part of the problem, as everyone thought: I’ll sell now and then stop.

FL: How many independent validators are currently in the network?

E.G.: About 25 to 30. They are constantly being added and removed.

FL: Is the Minter code open?

E.G.: Yes. At one point, Minter was in the top three blockchains based on commits on GitHub.

FL: What is Minter’s main competitive advantage?

E.G.: The fact that no one has done better so far. Our mistake was indeed in tokenomics. Technically, everything works perfectly.

FL: What is the project’s roadmap for the coming year?

E.G.: We are waiting for the entire mass to be dominantly distributed and will continue to allocate it across various projects.

One of the most active Minter participants also had the idea to list BIP on the TON blockchain and test smart contracts.

FL: You are now working on the project The Fund. What is its goal?

E.G.: It is a board comprising top builders on TON and Telegram, creating a tokenized fund to attract financing for launching and developing projects within the ecosystem.

Developers submit applications through a special app called FundApp, and following a selection process, they connect with one of the board members to secure initial investments in FUND tokens. In turn, the project distributes a portion of its native assets among the investors.

After completing the seed round, The Fund guarantees a 100% return of the spent tokens within a year. Then, the pre-market phase begins, during which the project’s coin can either rise or fall in value. The fourth stage is the market stage, where the fund initiates liquidity for the project.

The structure is not aimed at generating commercial profit. Our goal is to enhance the chances of normal teams for promotion while minimizing the presence of scammers. We will focus on projects that can launch within a month to a year.

FL: When will The Fund launch?

E.G.: A listing of FUND on DeDust will occur soon, with three rounds of token sales starting in October. The first projects will be published on January 1, 2026.

FL: What promising trends do you see in the crypto market in the next five years?

E.G.: I believe at some point, a certain protocol will emerge as the foundation for transferring large assets between corporations. SWIFT, SEPA, and other payment systems are not universal; a tool is needed that corporate agents can manage.

The second trend will be a new credit system based on recorded social capital in the blockchain. People will be able to lend to one another based on activity, success, honesty, or other criteria. Borrowers with a specific credit score will be able to withdraw cryptocurrency from the lender’s account without consent.

Artificial intelligence will facilitate assessing individuals for this rating. Such a system would allow for the accumulation of trillions of dollars for billions of people.

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