Decentralized finance (DeFi) protocols have gained significant traction in the cryptocurrency sector, with a total value locked surpassing $271 billion, based on data from DefiLlama. One exceptionally popular category of DeFi services is that of decentralized borrowing and lending, where users can pledge their crypto as collateral and take out stablecoin loans (or vice versa) to pay for everyday expenses while their investment continues to grow.
Such protocols typically charge a spread or difference between deposit and lending rates as a service fee. But then there are protocols like Minterest that seek to distribute a vast majority, if not all, of their profits back to users. Earlier this month, Minterest launched on Moonbeam, an Ethereum-compatible smart contract parachain on the Polkadot network. During an exclusive interview with Cointelegraph, Minterest CEO Josh Rogers (NYSE:ROG) further elaborated on the goals of building a user-oriented DeFi platform.