Builder Share - User Understand #1: From Zero to Hero - The Journey of Warriors

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Builder Share - User Understand #1: From Zero to Hero - The Journey of Warriors

Long Min
Long Min2048×1366 396 KB

Hello everyone, We are Sky3 Team - The new hub for Cardano Builders and Enthusiasts with 3 main objectives: learning, growing, and networking on Cardano.

Last weekend, we joined Cardano, Project Catalyst, Minswap and Cardano Vietnam to organize the Cardano Blockchain Meetup Special (first held in Hanoi). At the meetup, we also shared from Mr.Long - Founder & CEO of Minswap about Minswap’s success story. Let’s find out.

  1. Starting Point: $37.5K
    Let’s rewind to April 2021, when Mr. Long and three of his friends embarked on the development of Minswap. At the outset, the Minswap team submitted a proposal on Catalyst, seeking a modest fund of just $37.5K.

  2. Lonely Wolf
    With such limited initial funding, Mr. Long and his team relied on their youthful ambition to push forward. As Mr. Long recounts, there were not many developer tools available at that time, and the knowledge required was scattered across various sources. This lack of resources posed one of the greatest challenges for him and the Minswap team.

  3. Milestones Achieved
    Fast forward to June 2021, when Minswap launched its first testnet on Cardano. Just a month later, Minswap successfully conducted its public sale, raising over $1.3 million.
    Despite securing these funds, gaining the trust of the community placed immense pressure on Mr. Long and the Minswap team. There were investment firms interested in OTC deals for Minswap’s $MIN token, but Long and his team chose to stick to their original vision: “Decentralized for all.” This aligns perfectly with Cardano’s mission to create a fully decentralized environment for end-users.
    By early 2022, Minswap’s metrics soared, achieving a total value locked (TVL) of over 200 million ADA, positioning it as one of the most promising DeFi protocols on Cardano.

  4. Navigating the Bear Market
    However, shortly after Minswap’s peak, the market entered a downtrend. Like many projects, some founders or team members might have chosen to step back, halt operations, or lose their commitment to building.
    But for Mr. Long and the Minswap team, it was a different story. They continued to develop and actively contributed to the Cardano ecosystem by creating additional developer tools, consolidating knowledge, and supporting new projects and builders on Cardano.
    Minswap has introduced an increasing number of features, such as Launch Bowl, which has supported projects like Indigo and Fluid, among others.
    In July, Minswap officially launched Minswap v2 after extensive development efforts.

  5. Inspiration for Future Builders
    The entrepreneurial journey of Mr. Long and the Minswap team serves as an inspiration for many future generations of builders.
    We encourage you to follow Mr. Long and the Minswap team as they continue to contribute valuable insights and guidance to the Cardano ecosystem and the next wave of builders.