MantaPay Liquidity Event
MantaPay is our flagship product, and is planned to be released in 2022. The exact date will depend on the parachain slot and our testnet duration. MantaPay is a private transacting service that allows users to transact any parachain asset (including DOT) in a privacy-preserving manner. Using zero-knowledge proofs, the on-chain transactions remain fully privatized.
The purpose of the MantaPay Liquidity Event is to encourage our community to try out the service and learn more about our products. To participate, a user simply deposits a parachain asset into Manta Network, which will then privatize the asset for transfer.
3% of the token supply (30,000,001 MANTA) will be distributed to contributors of Manta crowdloan who complete deposit milestones on the MantaPay. To claim the rewarded MANTA, contributors will need to deposit eligible crypto assets on MantaPay once MantaPay launches. The purpose of this event is to incentivize early crowdloan contributors to experience and enjoy MantaPay’s on-chain privacy payment.
The Liquidity Event will begin once MantaPay launches, and ends 60 days after. MANTA will be allocated to participants based on a snapshot at the end of the event. Participants will be automatically rewarded after this event is completed.
To qualify for the MANTA, a participant must be a Manta Network crowdloaner and take the following action depending on your contribution:
For example, Luke contributed 1,000 DOT. To qualify for the event, he should contribute 100 DOT or 100-DOT worth of MANTA. Michael contributed 9 DOT. To qualify for the event, he should contribute any amount of DOT or MANTA. The deposited crypto can be withdrawn at any time.
Earned Liquidity rewards are linearly claimable with the target deposit. For example, Luke's contribution requirement to earn the full MANTA rewards is 100 DOT. If he deposits 50 DOT into MantaPay over the course of the event, he will be able to claim 50% of his rewards. The deposit rewards are cumulative over the event period. In other words, Luke can deposit 50 DOT on day 1 of the event, and 50 DOT on day 10 of the event, and it will count as a total 100 DOT deposited during the event, which unlocks the full 100% of his rewards.
Any unclaimed MANTA at the end of the event will be forfeited and automatically placed into the crowdloan reward pool for next auction.