AKA The Smart Person’s Guide to Getting the Most from Your L3P
Target APY of 77%
From Thursday 18th March, all holders of L3P will be able to stake their tokens on MANTRA DAO’s decentralized staking platform.
All of us at Lepricon believe that it is vital to endow L3P with significant utility from day one, given that our DeFi platform is in development. MANTRA DAO is a close strategic partner, and their easy-to-use staking platform is the obvious choice.
How Does the Staking Work
L3P staked with MANTRA DAO will auto-compound, meaning that all rewards are automatically added to the staked total. There is no need to claim and re-stake, saving considerable gas fees. Auto compounding also means that the APY will be variable, depending upon the size of the pool.
We are setting a target APY for the first month of 77%. This means that if all the unlocked tokens in month one, approximately 52.5 million, are staked, then the APY will be 77%. The good news is that the APY will start a lot higher than that, so those who stake early stand to earn great rewards.
We will supply 10 million L3P in the first three months to facilitate the staking pool and review month by month what the liquidity requirements are.
Rewards will be paid in L3P and by the block, which means your total compounds multiple times each day. You can see the amount of L3P rewards you have won at all times in the staking dashboard. You will also be able to see your predicted daily rewards. As your compounded capital grows, you will see the number of daily rewards slowly increase. You will receive your first rewards two hours after staking.
Stakers will be able to remove their L3P at any time. There are two options. Wait seven days and clear with no fee or choose to unstake immediately for a 7% charge of the total L3P unstaked.
Once your L3P is unlocked, or you have just picked up a bag on Uniswap, go to app.mantradao.com/staking, connect your wallet, and get that L3P to work.