Manta Network Polkadot Parachain Card Slot Auction Rules Released

BTC0.0₂₀

ETH0.0₂₀

HTX0.0₂₀

SOL0.0₂₀

BNB0.0₂₀

BTC0.0₂₀

ETH0.0₂₀

HTX0.0₂₀

SOL0.0₂₀

BNB0.0₂₀

Manta Network Polkadot Parachain Card Slot Auction Rules Released

MantaNetwork

2021-11-04 02:13

本文约4586字，阅读全文需要约18分钟

We believe that strong community support will help Manta win the next Polkadot parachain auction.

As the auction of Polkadot card slots is approaching, Manta Network announced that it will participate in the first round of Polkadot card slot auctions to provide on-chain privacy protection for Polkadot’s relay chain and parachains, so as to play the role of Polkadot’s decentralization and interoperability. Advantage.

Manta Network is the zero-knowledge privacy layer in the Web3 world, and it is also the first project to use zero-knowledge proof technology (zkSNARK) on Polkadot to achieve on-chain privacy. Privacy has always been a major problem that has not been resolved in DeFi, and Manta's The goal is to provide on-chain privacy protection for the entire DeFi world and realize the Web3 vision of the "post-Snowden era" as Gavin Wood said.

Manta Network is committed to building a better Web3 world through privacy protection. Manta's product design starts from first principles, and provides end-to-end privacy protection for blockchain users through leading cryptographic architectures such as zkSNARK. While protecting privacy, Manta is interoperable, convenient, high-performance and auditable, allowing users to conduct private transfers and transactions between any parachain assets. Manta's vision is to provide more convenient privacy protection services for the entire blockchain world.

Manta's founding team consists of several cryptocurrency veterans, professors, and academics whose experience includes Harvard, MIT, and Algorand. Manta’s advisors include Hypersphere Ventures co-founder Jack Platts, Polychain partner Tekin Salimi, former Web3 Foundation co-founder Ashley Tyson, Consensys’ Shuyao Kong.

Manta's investment institutions include Polychain, ParaFi, Multicoin, CoinFund, Alameda, DeFiance, and Hypersphere. Manta is also a grant recipient of Polkadot's official Web3 Foundation, a member of the Substrate Builder Program, and a member of the Berkeley University Blockchain Accelerator.

2. Why support Manta?

Manta's first product, MantaPay, is able to make the entire relay chain and parachains of the Polkadot ecosystem such as stablecoins on Acala and EVM digital assets on Moonbeam private, and maximize the interoperability of Polkadot.

Manta's long-term goal is to establish a privacy smart contract platform that supports WASM, which can build and deploy various decentralized applications, such as the privacy trading platform MantaSwap and the privacy NFT platform. Manta will be the only Polkadot platform that meets the privacy needs of the chain, promotes anti-censorship, and ensures that privacy tokens are sufficiently decentralized and interoperable.

On September 15th, Calamari Network, the leading network of Manta Network, won the Kusama 7th parachain slot auction with 218,247 KSM locked votes, and connected to the Kusama network to become a parachain block. There are 16,005 contributors to Calamari crowdfunding, which is the largest number of community contributors among all Kusama parachain auction projects.

After the Kusama #146 referendum was passed, Calamari has completed its first runtime upgrade, successfully launched on-chain governance, and will soon start token transfers and launch the testnet. We believe Calamari's strong community support will help Manta win the next Polkadot parachain auction.

4. Crowd Loan Rewards

Parachain auction reserve

Parachain auction reserve

15% of the total amount of Manta tokens, or 150 million MANTA, will be used for parachain auction incentives. Manta's crowd lending hard cap is 30,000,000 DOT, and users will receive a fixed ratio of 1:5. Once the hard cap of crowd lending is reached, all 150 million MANTA will be allocated to crowd lending participants. If the hard cap of 30,000,000 DOT is not reached, the remaining MANTA tokens will be used as a reserve for future parachain auctions.

Binance Early Bird Award

In addition, Manta will also take out 0.6% of the total amount of tokens, that is, 6,000,000 MANTA will be used as early bird awards, distributed to users who support Manta Network crowdfunding through Binance.

Crowd Loan Reward Ratio

Manta Network crowdlending participants can get 5 MANTA token rewards for every 1 DOT contribution, which is a fixed reward of 1:5. The fixed ratio ensures that the rewards obtained by each crowdlending participant will not be diluted as the total amount of DOT pledged increases, which is a way that is fair to all crowdlending participants.

Early contributors can get early contribution rewards (see "Early Contribution Rewards"). In every 5 MANTA rewards, contributors can get 4MANTA directly, and the other 1MANTA rewards need to be obtained through MantaPay liquidity mining activities.

*Please note that we are not yet sure that centralized exchanges will support MantaPay liquidity mining activities. Users participating through centralized exchanges need to bear the risk of not being able to obtain liquidity mining rewards. We will do our best to communicate with the centralized exchanges, and more details will be announced in the future.

In order to thank the early supporters for their support, Manta has additional incentives for early crowd lending contributors on top of the basic incentives. Early contribution rewards are divided into two phases:

In order to thank the early supporters for their support, Manta has additional incentives for early crowd lending contributors on top of the basic incentives. Early contribution rewards are divided into two phases:

Phase 1: Before the auction of the first Polkadot parachain begins

for example:

If Gabriela contributes 500 DOT, she will receive a fixed reward of 2,500 MANTA (the base reward of 2,000 MANTA + the MantaPay privacy liquidity mining reward of 500 MANTA). As an early participant before the start of the first Polkadot parachain auction, she can also get an additional reward of 10%, which is a maximum of 250 MANTA, (200 MANTA base reward + 50 MANTA MantaPay privacy liquidity mining reward). Therefore, Gabriela will receive a cumulative 2,750 MANTA as an early contributor.

Phase 2: Before the auction of the third Polkadot parachain ends

for example:

If Georgi contributes 500 DOT during this period, he will receive 2,500 MANTA rewards by default (2,000 MANTA base reward + 500 MANTA MantaPay privacy liquidity mining reward). As an early participant in the second phase, he will also receive an additional incentive of 5%, which is 125 MANTA, so the cumulative reward amount Georgi received is 2,625 MANTA.

Binance Early Bird Award

Manta’s crowdlending campaign will start before the first parachain auction and end after winning a parachain slot. Crowd lending participants participate in Manta crowd lending by locking a certain amount of DOT. DOT tokens will be locked from the beginning of the auction until the end of 8 cycles (96 weeks) after winning the card slot auction.

5. Bidding cycle and lock-up

In order for Manta to run successfully on Polkadot, we need enough DOT to obtain a parachain card slot. Manta will participate in the slot auction from the first parachain slot, and will auction slots for 8 cycles, that is, leasing The period is 8 weeks*12=96 weeks;

Polkadot’s first parachain slot auction will start on November 11th GMT, and the first round of 5 parachain slot auctions will end on December 16th.

Part of the token rewards for liquidity mining will be released linearly by block within 48 weeks;

6. Token unlock time

Part of the basic reward tokens will be released linearly in blocks during the lease period (96 weeks);

Part of the token rewards for liquidity mining will be released linearly by block within 48 weeks;

Part of the token rewards of the Binance Early Bird Award can be unlocked immediately after listing on Binance.

What is MantaPay?

MantaPay is the main product of Manta in the early stage, and it is planned to be launched in early 2022. The specific time depends on the results of the Polkadot parachain auction and the duration of the test network. Based on zk-SNARK, MantaPay can support users to replace Polkadot and its Parachain tokens with corresponding privacy tokens, providing the highest level of privacy protection for users' on-chain transfers.

To get this part of the reward, you must be a Manta crowdfunding contributor and meet the following conditions:

Activity Rules

5% of the total amount of Manta tokens, or 50,000,000 MANTA, will be allocated to crowdlending participants participating in MantaPay's private liquidity mining. Manta's crowd lending participants need to deposit the required assets when MantaPay goes online to receive this part of MANTA rewards. The purpose of MantaPay's liquidity mining activity is to encourage Manta's early crowd lending participants to experience the on-chain privacy payment products brought by MantaPay.

The liquidity mining activity will randomly start at the place where MantaPay is launched, and the activity will last for 60 days. During the MantaPay liquidity mining activity, users can deposit and withdraw DOT or MANTA at any time. We will use the end of the activity as the snapshot time point, and distribute MANTA token rewards according to the accumulated DOT or MANTA deposited by users during the activity , participants will automatically receive rewards after the event ends.

To get this part of the reward, you must be a Manta crowdfunding contributor and meet the following conditions:

During the event, the amount of tokens deposited by the user can be accumulated. For example, Luke can deposit 50 DOT on the first day of the event and another 50 DOT on the 10th day. Then his accumulated deposit during the event is 100 DOT. Unlock 100% liquidity mining rewards.

Examples are as follows:

Luke pledged 1,000 DOT in the Manta crowd loan, and he needs to deposit 100 DOT (10%) or MANTA equivalent to 100 DOT in the MantaPay liquidity mining activity;

Michael pledged 9 DOT in the Manta crowd loan, and he only needs to deposit more than 0.5 DOT or equivalent MANTA to participate in liquidity mining;

The reward for liquidity mining is linearly related to the target deposit amount. Assuming that Luke's target deposit amount is 100 DOT, but he deposits 50 DOT successively during the event, he will be able to receive 50% of the MANTA reward.

We are expanding as many channels as possible to participate in crowdlending to meet the different needs of the community, and more cooperation platforms will be gradually updated.

8. Crowd Loan Participation Channels

The following platforms have been confirmed to support Manta crowdfunding:

Decentralized Engagement Channels

Polkadot JS
Zenlink
Parallel Finance
Fearless Wallet

Centralized exchange channel

Binance
OKEx
Kucoin
Gate
MEXC

We are expanding as many channels as possible to participate in crowdlending to meet the different needs of the community, and more cooperation platforms will be gradually updated.

Welcome to follow our channel to learn more about Manta Network:

Manta Website:https://manta.network/

Calamari Website:https://calamari.network/

Github:https://github.com/Manta-Network

Twitter:Medium:https://medium.com/@mantanetwork

Telegram:https://t.me/mantanetwork

Telegram Chinese:https://t.me/mantanetwork_zh

WeChat public account: Manta Network Protocolhttps://discord.gg/ZtSuSKRy8X

WeChat public account: Manta Network Protocol

Manta Network

MantaNetwork

作者文库