MANTRA DAO Validator Now Available for LUNA Delegation
MANTRA DAO and Terra continue to grow on their shared vision to build groundbreaking open financial infrastructure.
MANTRA DAO has spun up its Terra validator in preparation for the rollout of OM rewards to MANTRA validators throughout the cross-chain DeFi ecosystem. Delegate now to earn OM as soon as we go live with this innovative new way of distributing OM tokens.
Terra is building a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native governance and staking token, LUNA. Terra’s mission is simple: set money free by building open financial infrastructure.
LUNA, as the native staking asset from which the family of Terra stablecoins derive their stability, utility, and value, acts both as collateral for the entire Terra economy and as a staking token that secures the PoS network. LUNA can be held and traded as a normal crypto asset, but can also be staked to accrue rewards in the network generated from transaction fees. LUNA can also be used to make and vote on governance proposals.
Our partnership with Terra is intended to link our powerful crypto communities. But first, today, the Sherpas begin to secure the Terra blockchain.
Read more below to find out about the rollout of delegator rewards denominated in OM tokens.
Staged Rollout
Phase 1 — Initially, users will be able to delegate their LUNA tokens to the MANTRA DAO Validator through existing COSMOS ecosystem wallets and delegation interfaces in order to earn LUNA rewards.
Phase 2 — Users will be able to delegate their LUNA to the MANTRA DAO Validator through the MANTRA DAO App, as well as existing COSMOS ecosystem wallets and delegation interfaces in order to earn LUNA rewards.
Phase 3 — Users will be able to delegate their LUNA to the MANTRA DAO Validator through the MANTRA DAO App, as well as existing COSMOS ecosystem wallets and delegation interfaces in order to earn both LUNA and additional OM rewards.
Essentials to stake LUNA
MANTRA DAO validator address: terravaloper1chscwnxzcnd8qvk76efjd6dd73gf945dh4qryr
There is a 21-day unbonding process for staked LUNA during which time the delegator’s LUNA do not earn rewards and cannot be transferred, exchanged or spent. LUNA can however be slashed during the unbonding period.
Delegation is non-custodial and delegates cannot spend your LUNA.
Wallets:
Cosmostation (web wallet and mobile)
MANTRA DAO Validator:
For more details click here.
Commission: 8.88%
Self-bonded Amount: 88
MANTRA DAO & Terra Partnership Moving Forward
Initially, OM rewards will not be earned by delegating your LUNA to the MANTRA DAO validator. However, remember that each and every OM token holder is a direct beneficiary of the assets held by the DAO. As the assets in the DAO accumulate, more returns are earned. Those returns will go directly into rewards on our other products like MANTRA Pool.
It is our aim to be a top-5 validator on every blockchain we work with. We want to do more than just secure the blockchain. We want to help LUNA build the future of money!
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.
Website | Whitepaper | Telegram | Medium | Twitter | LinkedIn
About Terra
Terra is successfully bringing DeFi to the masses with payments, savings, and much more. The Chai payments app has exploded in growth with over 2 million users, an annual run rate of over $1 billion, and widespread integration with merchants that range from Korea’s top e-commerce stores, #1 online travel agency, #1 bookstore, #1 game publisher, #1 convenience store, and many more. Through payments, Terra has successfully bridged the gap between the traditional world and the blockchain world. Many existing DeFi products are not built for the masses and suffer from extreme volatility, complicated on-boarding, accessibility issues, and sometimes near-ponzinomics style get rich quick schemes. The Anchor protocol (anchorprotocol.com) is a savings product that stands firmly as a representation of what DeFi looks like. It ensures immediate usability, no complications with hours of research to understand, or unfair advantage to early adopters. Anchor leverages the block rewards of every major PoS blockchain to power yields on stablecoin deposits. Anchor aims to become the “gold standard for passive income in blockchain.” As a default, it offers principal protection, instant withdrawals, and a steady and high APR. Terra’s approach to mass adoption and mature products in its ecosystem is what has brought more than $4.9 million in tax rewards ranking Terra 3rd behind Bitcoin and Ethereum. True, tangible yields from actual adoption from real external value flowing into Terra’s networks is a testament to what the DeFi space is becoming to address and unlock the potential for the multiple billions of dollars that will enter the right ecosystems, Terra’s in particular.
Website | Whitepaper | Telegram | Medium | Twitter | LinkedIn | Discord
