Manta Network | A Roadmap for Participating in Activities: A Balance Between Stability and Aggressive Strategies

New Paradigm is a liquidity incentive activity within the Manta ecosystem launched by the Manta public chain. Similar to the Blast liquidity staking launched recently, users can stake their funds to receive future token airdrops.

Compared to Blast, New Paradigm has advantages in its rich ecosystem projects and shorter return cycle. Users can receive token airdrops as early as January 2024.

In addition, the Manta public chain itself has received $60 million in investment from top institutions such as Binance Labs and Polychain Capital, reaching a valuation of $500 million.

The expected rewards of the New Paradigm activity include several parts:

1. After ETH and USDC cross-chain to the Manta ecosystem, similar to Blast, there will be approximately 5% interest generated even if the assets are idle.

2. Participate in the activity and stake assets to receive future token airdrops.

3. Participate in the interaction with projects within the Manta ecosystem to have potential airdrop opportunities from the projects themselves.

4. After staking ETH and USDC, the obtained Stone and wUSDM can be used to participate in projects within the Manta ecosystem, such as lending projects, to obtain the returns provided by the projects themselves.

The total rewards consist of 3% (basic reward) + 2% (additional reward) + 1.5% (ecosystem reward) = 6.5%.

Users can stake ETH or USDC and receive shard rewards, which can be exchanged for blind boxes. The NFTs obtained from opening blind boxes can be exchanged for future token airdrops.

High-quality users can receive different amounts of shard rewards as initial rewards based on their own ratings.

If there is an initial reward and the user wants to obtain it, they need to deposit 0.25 ETH or the equivalent value of USDC to activate the wallet and receive the invitation code.

If there is no initial reward, a minimum deposit of 0.01 ETH or the equivalent value of USDC is required to activate the wallet and receive the invitation code.

By staking 1 ETH, users can receive 25 shard rewards every 7 days. 25 shard rewards can be combined to form 1 blind box, and 1 blind box can open 1 NFT.

It should be noted that unlike Blast, this activity has a short duration and fund deposits will stop in January. It is unlikely to collect enough NFTs by extending the time frame with small funds.

After the first deposit, users can receive 8 invitation codes. When the funds of a group reach 5E, an additional 5 invitation codes can be obtained. When it reaches 20E, 1 permanent invitation code can be obtained.

The inviter can receive two levels of rewards, 16% and 8%, to increase the spread of the activity.

For users with a larger initial deposit, the 7-day waiting period will be reduced, and they may even directly receive the shard rewards of the first week. But the acceleration effect can only be used once.

The more funds a group stakes, the more additional shard rewards they will receive in each cycle.

The default 3% reward is distributed to holders of 6 types of NFTs. To receive an additional 2% reward, users can combine the 6 NFTs obtained into a super rare NFT, and holders of super rare NFTs can receive a 2% token reward.

The 6 NFTs can be obtained by participating in the activity to open blind boxes or by buying and selling on the market.

In addition, users who participate in the interaction with projects within the Manta ecosystem (Dex, Lending, providing LP, etc.) can also receive a 1.5% token reward.

In January 2024, users can exchange the obtained NFTs for token rewards.

After receiving token rewards for 69 days, users can unlock and transfer their staked ETH and USDC from the Manta ecosystem.

To participate in the activity, users must deposit funds through the activity page to receive shard rewards. However, for the subsequent interaction within the Manta ecosystem, GAS can be saved by using third-party bridges like MiniBridge for cross-chain transactions.

The funds here are transferred from the mainnet to the Manta network. Pay attention to the gas fees on the mainnet when depositing funds. After ETH is deposited, it will become Stone, and after USDC is deposited, it will become wUSDM.

It should be noted that to participate in the activity, funds need to be deposited through the activity page to receive shard rewards. However, for the subsequent interaction within the Manta ecosystem, GAS can be saved by using third-party bridges for cross-chain transactions.

Due to a deposit of less than 1 ETH (only 0.27 ETH in this case), the weekly cycle is extended to (1/0.27) x 7 = 25.9 days, which is approximately 25 days and 22 hours per cycle.

This means that users can receive 6 shards per week, and after 25 days and 22 hours, the shards can be used to synthesize blind boxes.

This is why it was mentioned earlier that if the funds are too small, it may not be possible to synthesize a blind box before the activity ends. However, below, we will introduce some aggressive strategies to help small funds accelerate this progress. Of course, the risk is higher, and it should be chosen based on individual circumstances.

After depositing ETH, many users may sell their Stones to perform more aggressive operations. At this time, the price of Stone will definitely deviate from ETH. However, as the assets are unlocked in the future, the price of Stone is highly likely to gradually return to parity with ETH. We can buy Stone at a low price and wait for it to stabilize and rise.

For example, the current price of Stone is only 0.89 ETH according to the figure above. After buying, we can wait for the price to return to 1 ETH.

At the same time, after depositing ETH, we can take the obtained Stone and provide liquidity on Quickswap to earn transaction fee income, or deposit the funds into the lending platform Layerbank to earn lending rewards, as well as the additional 1.5% ecosystem reward provided by Manta.

Selling Stone for ETH directly on Quickswap, using a cross-chain bridge to transfer it out, and then depositing it again to earn more shard rewards with small funds.

However, it should be noted that due to continuous selling of Stone, there is already a depreciation of nearly 11% here. If you think that the future airdrops cannot cover this depreciation, it is not recommended to operate in this way.

Biteye is the leading Web3 research community in Asia, generating forward-looking investment research content and tools through community and AI-driven methods to help community members explore the Web3 rabbit hole.

WeChat Group: Add Assistant @Biteye01 to join the group

Twitter: @BiteyeCN

Discord: Discord.gg/ME582FXR4F

*Disclaimer: The shared content in this article is for learning and communication purposes only and does not constitute any investment advice, nor does it represent the position of Biteye. If you like our articles, please follow us!