UNISWAP OM/ETH Staking Pool Launch

MANTRA DAO
Oct 16, 2020 · 3 min read

Dear Sherpas,

We are happy to announce the release of MANTRA DAO’s third staking pool, and very first OM liquidity mining program, the UNI OM/ETH Liquidity Provider (‘LP’) token staking pool! We are particularly excited about this launch because we believe deeper liquidity pools enable a healthier network by allowing Sherpas to enter OM positions with reduced slippage and volatility. We hope that this program serves as an added incentive to OM/ETH liquidity providers to continue doing so and at a larger scale, as they are one of the key components that make our community continue to flourish.

In short, this pool will provide a further incentive and an avenue for Sherpas to “liquidity mine” OM tokens by providing liquidity to the OM/ETH Uniswap pool and staking the corresponding UNI-V2 LP tokens. The details of the pool are as follows:

- Asset: UNI-V2 OM/ETH LP tokens;

- How to Obtain UNI-V2 OM/ETH LP tokens: You can obtain these by first adding liquidity to the OM/ETH Uniswap pair by following this link. Once you have successfully provided liquidity there, your address will be credited with UNI-V2 OM/ETH LP tokens, which you can then stake in the corresponding newly released pool on the MANTRA DAO platform.

- OM Token Rewards: There will be no fixed APR for this pool. Instead, a set amount of 888,888 OM tokens will be distributed over a period of 388,888 blocks on the Ethereum network (roughly 8 weeks), for a rough estimate of 2.28 OM per block. These will be distributed amongst stakers in the MANTRA DAO UNI OM/ETH pool on the MANTRA DAO platform, proportional to their staking contribution to the pool.

- OM Reward Accrual Terms: Rewards are accrued on a per block basis, and become available to be claimed immediately upon being accrued.

- Claiming OM Reward Balance: Users can claim rewards at any time, and doing so will kick-off an 8-day unstaking timer, after which the staking reward tokens become available for withdrawal. There can only be one unstaking timer running at any given time, and thus if a user claims a second batch of rewards while the timer is running for a previous claim, the 8-day timer will be reset for the entire claiming balance.

- Unstaking Staked UNI OM/ETH LP token balance: Users can unstake and immediately withdraw their UNI OM/ETH LP token staked balance at any time. There will be no time-lock or unstaking timer for this, and thus the user’s tokens will be withdrawn immediately.

Best,

The Council

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.

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MANTRA DAO

Community-governed DeFi Platform Focusing on Staking, Lending, and Governanance.

MANTRA DAO

MANTRA DAO leverages the wisdom of the crowd 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.

MANTRA DAO

Written by

MANTRA DAO is a Community-governed DeFi Platform focusing on Staking, Lending, and Governance.

MANTRA DAO

MANTRA DAO leverages the wisdom of the crowd 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.

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