MANTRA DAO has great news! Sherpas who are seeking to stake their OM can access staking rewards of up to 106.57% APY through OM Locked Staking on Binance Earn.
Boosted rewards are on a first-come, first-served basis. The longer you lock your tokens, the higher your boost in APY!
- Begin Locked Staking your OM on April 21st at 12:00 PM UTC.
What is Locked Staking on Binance Earn?
Sherpas can always earn a juicy APY for staking their OM on MANTRA DAO, but Binance Earn is boosting staking rewards to mouth-watering proportions with its Locked Staking program.
All you have to do is choose how long you want to stake your OM to access higher APY during Binance Earn’s Boost Promo Period. You can Lock Stake OM for 30, 60, or 90 days on Binance Earn to boost your rewards APY with boosts adjusted to the length of your OM Lock Stake.
Lock Stake your OM from 30 to 90 days to participate:
- 30 Days Locked Staking: 35.79% APY | Standard: 35.79% APY
- 60 Days Locked Staking: 43.68% APY | Standard: 43.68% APY
- 90 Days Locked Staking: 106.57% APY | Standard: 52.69% APY
After the boost period ends, rewards APY for Lock Staked OM will adjust to a standard annualized interest rate.
The minimum token amount for Locked Staking is 1 OM. There is also a maximum Locked Staking token limit for each user:
- 30 Days: 90,000 OM limit
- 60 Days: 8,000 OM limit
- 90 Days: 600 OM limit
What Else Should Sherpas Know?
You can find more information on Binance Earn’s Locked Staking FAQs. Sherpas can check their Locked Staked OM balance by navigating to Wallets > Earn > Locked Staking > Locked.
- Binance Earn will provide the boost for OM Locked Staking APY for the duration of the promo period only.
- APY will be adjusted on a daily basis according to on-chain data and is subject to change.
- Sherpas can unlock their Lock Staked OM with an unlocking period of 1 day.
- Sherpas who redeem their OM rewards in advance of the Locked Staking period will have their principal returned with distributed interest deducted within 48 to 72 hours.
- Binance Earn reserves the right to amend or cancel the terms of the Locked Staking boost at its own discretion.
Participate As Soon As Possible for Boosted APY!
MANTRA DAO is grateful for Binance Earn’s commitment to reward the Sherpa community and OM holders. This is a Locked Staking event you don’t want to miss!
Boosted rewards for Locked Staked OM won’t last for long, so Sherpas who get in early will see higher APY returns. Set your alarms and mark your calendars to make sure you can Lock Stake your OM with Binance Earn to maximize your staking rewards!
About MANTRA DAO
MANTRA DAO is a community-governed DeFi ecosystem focusing on cross-chain DeFi products. MANTRA DAO has built a suite of DeFi services including a multi-asset staking platform, money market lending protocol, gamified rewards pool, and token issuance launchpad. The suite is natively built on Ethereum, with cross-chain products currently on Binance Smart Chain, Polygon, Solana, Terra, and are currently working on launching these services on HECO, Polkadot and our own native MANTRA Chain in the near future.
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