Dear Sherpas,
We are happy to announce the release of MANTRA DAO’s third staking pool, and very first OM liquidity mining program, the UNI OM/ETH Liquidity Provider (‘LP’) token staking pool! We are particularly excited about this launch because we believe deeper liquidity pools enable a healthier network by allowing Sherpas to enter OM positions with reduced slippage and volatility. We hope that this program serves as an added incentive to OM/ETH liquidity providers to continue doing so and at a larger scale, as they are one of the key components that make our community continue to flourish.
In short, this pool will provide a further incentive and an avenue for Sherpas to “liquidity mine” OM tokens by providing liquidity to the OM/ETH Uniswap pool and staking the corresponding UNI-V2 LP tokens. The details of the pool are as follows:
- Asset: UNI-V2 OM/ETH LP tokens;
- How to Obtain UNI-V2 OM/ETH LP tokens: You can obtain these by first adding liquidity to the OM/ETH Uniswap pair by following this link. Once you have successfully provided liquidity there, your address will be credited with UNI-V2 OM/ETH LP tokens, which you can then stake in the corresponding newly released pool on the MANTRA DAO platform.
- OM Token Rewards: There will be no fixed APR for this pool. Instead, a set amount of 888,888 OM tokens will be distributed over a period of 388,888 blocks on the Ethereum network (roughly 8 weeks), for a rough estimate of 2.28 OM per block. These will be distributed amongst stakers in the MANTRA DAO UNI OM/ETH pool on the MANTRA DAO platform, proportional to their staking contribution to the pool.
- OM Reward Accrual Terms: Rewards are accrued on a per block basis, and become available to be claimed immediately upon being accrued.
- Claiming OM Reward Balance: Users can claim rewards at any time, and doing so will kick-off an 8-day unstaking timer, after which the staking reward tokens become available for withdrawal. There can only be one unstaking timer running at any given time, and thus if a user claims a second batch of rewards while the timer is running for a previous claim, the 8-day timer will be reset for the entire claiming balance.
- Unstaking Staked UNI OM/ETH LP token balance: Users can unstake and immediately withdraw their UNI OM/ETH LP token staked balance at any time. There will be no time-lock or unstaking timer for this, and thus the user’s tokens will be withdrawn immediately.
Best,
The Council
About MANTRA DAO
MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance. MANTRA DAO leverages the crowd’s wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.
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