MANTRA POOL is Launching Today! For a LIMITED time, Winners are rewarded in USDT & ETH
Limited Time Bonus rewards in ETH for the first 12 weeks, 3.33 ETH Per week for the lucky winners in MANTRA POOL
MANTRA POOL is going live! When we began MANTRA DAO we had the idea to create MANTRA POOL as one of the core products that we would be offering. Today, we are happy to announce that MANTRA POOL will be available as of today, with the first winners being announced one week from today on December 30th!
The mechanism is straightforward, spend 1 OM to gain 1 entry into the POOL. The pool consists of stablecoin rewards such as USDT/USDC which is the equivalent of 25% of the validator rewards for the nodes that MANTRA DAO operates.
MANTRA POOL Launch Promotion
Following the successful launch sale of our first MANTRA DAO NFT, we are happy to announce that we will be using ~25% of the ETH from the sale (40 ETH) to give an extra boost to our initial MANTRA POOLs! We will spread those 40 ETH over the first 12 MANTRA POOLs (3 months), which means that there will be an extra 3.33 ETH (~1,900 USD at current ETH prices) every week!
We are excited to start sharing the MANTRA DAO Foundation’s earnings with our Sherpa community so be sure to get your OM ready for when MANTRA POOL launches this month!
MANTRA POOL First Look
MANTRA POOL link: https://app.mantradao.com/mantra-pool
MANTRA POOL is a crypto savings game that allows users to participate for the chance to win a percentage of MANTRA DAO Foundation’s staking rewards. Every week, the protocol will select five randomly generated winners and those five participants will receive:
- 1st place: 50% of the total pool
- 2nd place: 25% of the total pool
- 3rd place: 12.5% of the total pool
- 4th & 5th place: 6.25% of the total pool
Participating in MANTRA POOL
*Please Note that first time users of MANTRA POOL will have to approve transactions in their wallet two (2) times — one (1) time to allow permission for the spending of the OM and another to execute the transaction.
To enter the MANTRA POOL, participants will have to spend OM tokens to enter. Each OM token spent will gain the participant one entry with an unlimited amount of entries in a given pool. The OM tokens that are spent to gain access to MANTRA POOL will be deployed to the smart treasury pool to help support our buyback and make model.
The Pool Countdown will show the current MANTRA POOL Round as well as the countdown for when the pool closes. To join in the current round, participants can click the Join Now button. To the left of the countdown, participants can see the total number of entries as well as the amount of entries the participant has entered in this round.
The Total Prize Pool Value will show the total amount of reward assets available in the current round, and the breakdown of the assets in the pool as well as their current price reflected in USD. In addition, the Amount section will also show the estimated rewards for the next MANTRA POOL round as well.
The Pool Results will show the total prize pool value, winners of the current round if they have already been declared, and have the claiming function of MANTRA POOL’s rewards for winners.
Future Integration with KARMA
We are currently developing our KARMA system which we will also integrate with MANTRA POOL. Depending on a user’s KARMA level, they will have automatic entries into the MANTRA POOL. The proposed plan for automatic entries based on KARMA from the whitepaper is shown below.
Sponsored MANTRA POOLs
As we continue to build out the MANTRA POOL we will look to add other unique features and launch special pools in collaboration with partners and to coincide with different milestones reached. With our sponsored MANTRA POOL giveaways, our partners can sponsor an additional distribution using assets of their choosing. These will run separately from the staking reward-generated MANTRA POOL offerings. It is our vision that in the future there will be multiple MANTRA POOLs running concurrently and we will be communicating with the community when we have confirmed with our potential partners in this collaboration.
Best of luck Sherpas!
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.