Are you ready to explore the exciting world of staking on the Mantle Network? If you’re looking to earn rewards while enhancing your crypto journey, the Mantle Reward Station program is just what you need. With a whopping 2.5 billion Ethena mShards tokens up for grabs—equivalent to about 3.5 million USD—this program is designed to attract users to the ecosystem and reward loyal MNT holders. In this guide, Unilever.edu.vn will walk you through everything you need to know about the Mantle Reward Station, from setup to participation.
What is Mantle Reward Station?
The Mantle Reward Station is an incentive program aimed at encouraging users to stake their MNT tokens within the Mantle Network. This initiative is part of a broader strategy to enhance community engagement while rewarding contributors to the ecosystem. The benefits don’t stop there; as more users stake MNT, the rewards also increase, creating an inviting environment for both new and experienced stakeholders alike.
In partnership with Ethena, the Mantle Reward Station marks the beginning of a comprehensive staking program. The more MNT tokens you stake, the greater your potential rewards become, making participation increasingly enticing.
Key Details of the Mantle Reward Station Program
Eligibility
- All users within the Mantle Network can participate.
Timeline
- The program will run from 17:00 (UTC+7) on March 27, 2024 to 17:00 (UTC+7) on April 25, 2024.
Total Rewards
- The program features a massive prize pool of 2.5 billion Ethena mShards tokens, which will be distributed based on several factors:
- Amount of MNT staked.
- Duration of staking.
How Rewards are Allocated
The formula for calculating your share of the rewards is straightforward:
(Your Staked Amount of MNT / Total Staked MNT per second) x 2.5 billion mShards.
For example, if on March 27, 2024, you stake 1,000 MNT (approximately 1,300 USD) out of a total of 86 million MNT staked, you would earn roughly 290,000 mShards. Given that 2.5 billion mShards equates to 3.5 million USD, your earnings could reach up to 406 USD in just 30 days, translating to an impressive APR of over 35%.
stake mantle trên reward station
Preparation Steps Before Joining the Mantle Reward Station
Before you dive into the Mantle Reward Station, ensure you have the following:
- MNT Tokens: Make sure you have MNT tokens ready for transaction fees and staking. While there is no minimum staking requirement, transaction fees typically range from 0.1 to 1 MNT.
- Web3 Wallet: Ensure you have a compatible cryptocurrency wallet setup, such as MetaMask, Coin98 Super Wallet, or OKX Wallet. This will be necessary for connecting to the Reward Station.
- Obtaining MNT: If you need MNT tokens, you can purchase them from centralized exchanges (CEX) and transfer them to your wallet. Additionally, consider using bridges like Mantle Bridge, Stargate, or Orbiter Finance to transfer MNT from other blockchains to the Mantle network.
Important Points to Note
- The Ethena mShards are tradable with the Ethena ENA token, although specific details regarding the conversion timeline and rates have yet to be confirmed. Keep an eye on updates from Coin98 Insights to stay informed.
- Tokens earned through the program can be redeemed for MNT tokens exclusively on the Merchant Moe DEX. After the event concludes, make sure to claim your mShards rewards within the following 9 days. Failing to do so means you forfeit your rewards.
Step-by-Step Guide to Staking MNT
Ready to get started? Follow these simple steps:
Step 1: Connect to the Mantle Reward Station
Visit the Mantle Reward Station website, then click on ‘Connect Wallet’ located in the top-right corner of the screen.
claim mshards
Step 2: Stake Your Tokens
Enter the amount of MNT you wish to stake, click ‘Confirm’ on your wallet, and finish the transaction.
unlock mnt
How to Claim Your Rewards
Once the event concludes, you can claim your rewards:
Step 1: Access the Claim Rewards Section
On the Reward Station interface, click on the ‘Claim Reward’ option.
Step 2: Claim Your mShards
Next, click on ‘Claim mShards’ and ‘Confirm’ in your wallet to complete the transaction.
Should you wish to convert your mShards into MNT tokens, you can use Merchant Moe. Simply log in to the Merchant Moe website, select mShards and MNT, enter your desired amount of mShards, and click ‘Swap’ to finalize the trade.
Important Reminder
Remember, while mShards can be exchanged for the ENA token, the timeline and rate for this conversion are still pending. Stay alert for updates from the Coin98 Insights team.
Unstaking Your MNT
If at any point you decide to unstake your MNT tokens, follow these steps:
Step 1: Select Unlock MNT
On the Reward Station interface, navigate to the ‘Unlock MNT’ section.
Step 2: Complete the Unstake Process
Input the amount of MNT you wish to unstake and click ‘Unlock’. Confirm the transaction in your wallet to finalize the process.
Conclusion
Participating in the Mantle Reward Station is an excellent opportunity for crypto enthusiasts to earn substantial rewards through staking. With the potential for significant returns and the promise of ongoing enhancements to the ecosystem, there’s no better time to get involved. Make sure you follow the steps outlined above and stay tuned for updates to maximize your staking experience.
Transform your crypto journey today with Mantle Reward Station, and don’t miss out on your chance to earn!
