What is the current price of Minswap?
The current price of Minswap is $0.003418 with a 3.80% change in the last 24 hours.
Supply and ATH/ATL data provided by CoinGecko
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Minswap is a decentralized exchange on Cardano. It lets anyone swap Cardano native tokens and supply liquidity to earn a share of trading fees, without an intermediary taking custody of funds. It is one of the ecosystem's largest venues and one of the earliest to ship a working automated market maker on Cardano's extended UTxO model.
MIN is the protocol's governance and reward token: holders can stake it for ADA generated by trading activity, use it for trading fee discounts, and vote in governance.
MIN is a Cardano native asset, not a smart contract token. Its policy ID is 29d222ce763455e3d7a09a665ce554f00ac89d2e99a1a83d267170c6 and its asset name is MIN, hex 4d494e. That policy ID appears in Minswap's own documentation and was confirmed by a direct on-chain query on September 12, 2026, which returned the asset fingerprint asset1d9v7aptfvpx7we2la8f25kwprkj2ma5rp6uwzv, six decimals, and a first minting transaction dated October 10, 2021.
Official sources:
Minswap is built by Minswap Labs. Core contributors are largely pseudonymous, and the project has been community-first from the start, with no private sale and no venture capital allocation for MIN.
Q3 2021: testnet deployment and the FISO, a Fair Initial Stake Offering that distributed MIN to delegators of participating Cardano stake pools rather than to private buyers.
Q1 2022: mainnet launch on March 8, 2022, after a security audit by Tweag. Launch used the Meteor Liquidity Bootstrapping Event, which gathered 25 million ADA; half the resulting MIN/ADA liquidity pool tokens went to the DAO Treasury as protocol-owned liquidity.
Q4 2022: first implementation of Minswap DAO governance, and introduction of the Fee Switch.
2023: dynamic emission schedules, and Catalyst funding for an open-source stableswap, an open-source LBE V2 and the audit of Minswap V2.
July 10, 2024: Minswap V2 went live, rewritten in Aiken rather than Plutus V1, raising throughput to 36 swap orders per batch.
Cardano's extended UTxO model has no shared mutable account state, so an AMM cannot let every user write to one pool contract in the same block. Minswap handles that with an order-and-batch design.
Order submission A user signs a transaction locking their input at a script address with a datum describing the swap, including a minimum acceptable output. This is an order, not an immediate execution.
Batching Off-chain agents called batchers collect pending orders and settle many against the relevant pool in one transaction. The on-chain validator enforces correctness, so a batcher cannot give a user less than their stated minimum or take from the pool. Batchers are paid an ADA batcher fee.
Pool pricing Standard pools use a constant-product curve. Stable pools use an invariant curve for assets that should trade near parity, giving much lower slippage; they are created manually rather than permissionlessly, because each needs hard-coded parameters and accurate token decimals to stay healthy.
Because Cardano requires a minimum ADA amount alongside any native token in a UTxO, swaps carry an ADA deposit that is returned with the output. That is a property of Cardano, not a Minswap fee.
Staking for real yield in ADA. Every swap carries a 0.3 percent fee, of which 0.05 percent is the Fee Switch. The ADA collected through it goes to MIN stakers, accumulated over a month and distributed the following month. Stakers choose between a nine-month tiered contract, which pays more but penalizes accrued rewards on early redemption, and liquid staking, withdrawable at any time for a lower return.
Trading fee discounts. Holding MIN, or MIN/ADA liquidity pool tokens, reduces platform fees.
Governance. MIN votes on protocol decisions, including where the ADA sitting in Minswap liquidity pools is delegated and how it votes in Project Catalyst. A wallet snapshot is taken daily at 07:00 UTC, and voting power is identical whether MIN is liquid, in LP tokens, farmed or staked, so users need not unwind positions to vote.
Minswap's published tokenomics set a maximum supply of 5 billion MIN, released gradually rather than pre-minted in full. An on-chain query of the minting policy on September 12, 2026 showed 3,000,000,000 MIN minted to date across three minting transactions, with one burn recorded against the policy. Documented allocations include 6 percent to the DAO Treasury, of which 2 percent funded the Liquidity Bootstrapping Event, and 10 percent to a Development Fund; core team tokens were locked for six months after launch, then vest linearly over two and a half years.
Emissions are actively managed rather than fixed. After the bootstrapping and "Minimax" phases, a governance proposal set a dynamic range with a lower bound of 333,333 MIN per day and an upper bound of 1,000,000 MIN per day, adjusted every two weeks by no more than 10 percent.
The distribution is genuinely unusual. There was no private sale and no VC allocation. The FISO paid Cardano stake pool delegators, and the Meteor LBE let the market set the initial MIN/ADA price while handing half the resulting liquidity to the DAO rather than to insiders.
Against Ethereum AMMs such as Uniswap or Curve, the structural difference is the eUTxO execution model. Orders are queued and batched rather than executed on submission, which changes latency expectations but removes some categories of per-transaction front-running, since ordering is enforced by validators and batcher incentives rather than by a mempool auction.
Against other Cardano DEXs, Minswap differentiates on liquidity depth, breadth of product set, and its aggregator, which routes through competing venues when they offer a better price. That is unusual for a DEX that is also the largest on its chain. And against DEXs whose governance token exists mainly to farm emissions, MIN has a direct claim on protocol revenue through the Fee Switch.
Minswap inherits Cardano's Ouroboros proof-of-stake settlement guarantees. Its own security rests on validator scripts, which are open source and have been through third-party audits, including the Tweag audit before mainnet launch and a Catalyst-funded audit of V2.
The eUTxO model removes some risk classes that affect account-based chains. There is no global mutable state for a reentrancy attack to exploit, and a user's order carries its own minimum-output constraint that the validator enforces, so a malicious batcher cannot execute a worse trade than the user accepted. The main trust assumption is therefore liveness rather than safety: if batchers stop running, orders queue rather than execute, and funds remain recoverable by cancelling the order.
Minswap is the clearest demonstration that a full-featured AMM works on the extended UTxO model. That was an open question in 2021, and the answer shaped how DeFi on Cardano was built afterward.
The natural venue is Minswap itself, using any Cardano wallet that supports dApp connections. Swapping ADA for MIN needs only ADA for the swap, the batcher fee and the returnable minimum-ADA deposit. Confirm the policy ID above before swapping, since Cardano asset names are not unique on their own.
MIN is listed on a number of international centralized exchanges, with availability and pairs differing by venue and jurisdiction. Because MIN is a Cardano native asset, a withdrawal must be sent to a Cardano address, and there is no ERC-20 version to confuse it with.
MIN is held in any Cardano wallet that supports native assets. Eternl, Lace, Vespr and Typhon all connect to the Minswap application directly, and Ledger or Trezor hardware wallets work through those front ends for larger balances. Every native asset in a wallet requires a small accompanying ADA amount under Cardano's minimum-UTxO rule, so keep spare ADA available.
Track Minswap live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Minswap on CoinRithm before using real money.
Use a crypto paper trading account to demo trade Minswap with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading Minswap with real money.
Read the complete paper trading guideThe current price of Minswap is $0.003418 with a 3.80% change in the last 24 hours.
The daily trading volume is $65,552.92 representing a 29.16% change in the past 24 hours.
The market capitalization of Minswap is $5,992,656, ranking #734 globally.
The fully diluted valuation (FDV) of Minswap is $17,090,000, calculated assuming the maximum supply of 5,000,000,000 MIN is in circulation.
Circulating: 1,753,263,838. Total: 2,494,853,035. Max: 5,000,000,000.
In the last 24 hours, Minswap traded between a low of $0.003368 and a high of $0.003577.
MIN/USDTTether USDT0.003418 USDT
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