We are always looking for the gem projects, the real passive income ones. However, one thing that became very clear in 2022 was that there was no such thing as truly passive income projects. Some were drained, some turned out to be not sustainable, some turned out to not be backed by anything.

An investment needs attention. Not only to see how it is doing but also to see what is needed from the investor in terms of actions s/he needs to take. You will have to stay up to date on the developments within a project.

• The involved investor might need to migrate from contract X to contract Y because a new version is released.
• New mechanics might be introduced which you have to be aware of.
• Project might decide to end their services.

So are there still truly passive income opportunities? I believe I found one, find out about it in this article.

What Did We See in 2022?

In the introduction I’m obviously referring to the wave of ROI Dapps which we have seen coming and leaving last year. I believe those were the hype of 2022. Each new project adjusting one or two elements of it’s predecessor and applying a new theme before launching their new proposition.

Each new project ending up the same way. A relatively big initial investment wave before it slows down. Followed by a big inflation of their native token because of the minting new ones.

Eventually, one will be able to ROI on their initial investment in terms of native tokens, but what are those still worth?

When is Passive Truly Passive?

At the end of 2022 Ron Jonkers published an interesting article about Passive income projects being a myth.

And I do agree with his view on that, you can see my response in the comments of that article.

However, I do think there are some models which could fit the passive income definition as given by Ron:

“Passive income is unearned income that is acquired automatically with minimal labor to earn or maintain.”

Interesting projects in my opinion are still “true staking” and “tokenized (or NFT-nized) mining”. Those do have a utility but are highly dependent on the token prize of the reward token.

My Set and Forget Project: Minto

As stated in the intro, I think I found one which I can just leave alone and don’t have to bother about. It is a Tokenized Mining project which mines Bitcoin and shares the earned rewards with their stakers.

This project is called Minto!

Although the rewards in BTC still fluctuates with the market conditions, at least I’m earning BTC and not some internal native token which is not widely recognized or used.

In order to get involved in the project one will have to acquired the native BTCMT token. These tokens can be staked to earn the mining rewards. The platform offers two staking pools to deposit your BTCMT tokens in:

• Auto restaking pool: Which support Automatic conversion of bitcoin received as daily rewards into BTCMT tokens with their subsequent staking. Stake BTCMT → Earn BTC → Convert into BTCMT → Stake BTCMT.
• Manual pool: Staked BTCMT earns BTC rewards which can be claimed manually. Stake BTCMT → Earn BTC

A Brief Overview of the Project

Following Mintos statement as per January 18:

It’s hard to mine nowadays. Unless you mine with Minto, of course.

You don’t need to do anything anymore because:

• ️We have an 86,000 square foot data center using green energy from the hydroelectric plant.
• ️We have new up-to-date miners with 65 000 TH/s of mining power for you to mine fruitfully and continuously.
• ️We have a 10% discount on electricity, and we don’t rule out the possibility that it will grow. It means that mining is becoming even cheaper for you.

And the best thing is that you can stop your miners and withdraw the money at any moment.

Could you find that anywhere else? You can try… but we don’t want you to waste your time!

Latest Project Developments

At the end of the year it’s the moment to reflect on the previous months and so they did. The following images show the biggest achievements in 2022 for the project and its team.

Those were the results, now let’s look at the plans for 2023 as shared by the team on January 5th.

• ️Referral program. We need some time so that you find more people to invite and gain profit.
• Big website update. It’s coming.
• Autofarming vol.2. Minto is evolving, so is autofarming.
• New smart contract. Can’t tell you more right now, but you deserve a hint!
• An Ambassador system for users. Too early to disclose details. Right time to give a wink, though.
• More hashrate updates. We won’t stop improving the energy efficiency level and looking for the best equipment on the market.

A lot of interesting improvements planned for this year in my opinion.

December 2022 Performance

Finally I wanted to share the performance numbers and milestone updates of last month to give some idea of what the project is able to deliver.

Wrapping up

As noted in the title of this article, I’ve tested this project for myself now for about 5 months or so. I’m happy with the results, impressed by the developments of the team and really looking forward to the upcoming enhancements which are listed on their roadmap.

Set and Forget, yes. But I will keep my eyes on all developments.

References

Website: https://minto.finance/

Whitepaper: https://minto.finance/resources/MintoWhitepaper.pdf

Telegram channel: https://t.me/btcmtofficialchat

Twitter: https://twitter.com/btcmtofficial