🏄🏼‍♀️ Surf’s Up on Manta Pacific!
Start utilizing $vMANTA across the Manta Pacific Ecosystem to explore projects and maximize rewards
It’s time to catch the rising waves on the Manta Pacific as beach weather sets in for the summer! Start using $vMANTA to take advantage of full benefits and incentives across the Manta Pacific ecosystem:
- Manta staking APY (around 30% at the time of writing);
- Fee-free trading on Gull Network;
- Trade-to-earn incentives on Gull Network for trading MANTA/vMANTA;
- Boosted yield-farming incentives on Gull Network for vMANTA pools;
- Monroe points through mint monUSD with $vMANTA;
Quick Start Guide
To get started quickly, first you need to obtain $vMANTA. You can get this by staking $MANTA on https://omni.ls or by swapping for $MANTA on Gull Network’s native Swap on Manta Pacific.
Last week, Bifrost announced Manta Pacific’s liquid staked asset (LST), $vMANTA. By using their product omni.ls, anyone holding $MANTA can now natively stake those assets on Manta Pacific.
After staking on omni.ls, you also receive the LST $vMANTA. To date, over 3.1 million $vMANTA has been minted through staking on Bifrost’s omni.ls. Now, users in the Manta Pacific ecosystem will be able to begin using $vMANTA across various ecosystem applications to maximize your experience, starting with Gull Network and Monroe.
What is $vMANTA?
$vMANTA is a liquid staking token offered by Bifrost through https://omni.ls in return for staking $MANTA via Manta Pacific on the Omni app. $vMANTA allows users to continue earning APY on Manta staking while still having the liquid derivative to engage in other Manta ecosystem activities. For all the details on $vMANTA and how it works, visit the $vMANTA docs page on Bifrost.
$vMANTA Across the Manta Pacific Ecosystem
$vMANTA begins its adoption across the entire Manta Pacific Ecosystem. Natively, $vMANTA earns yield. But the true benefit of having an LST like $vMANTA is all the activities and projects that holders can engage in. We’re seeing the first emergence of adoption of $vMANTA through some of the hottest emerging projects on Manta Pacific starting with Gull Network and Monroe.
Using $vMANTA on Gull Network
Gull Network’s launch of Gull Swap comes with a treasure trove of incentives and boosts to encourage adoption of the native DEX. $vMANTA holders will be able to benefit from Gull Swap and earn incentives in the following manner:
- Trade-to-earn: by trading $vMANTA on Gull Swap, users can participate in Gull’s trade-to-earn campaign.
- Boosted yield-farming: using $vMANTA to LP into pools on Gull to earn bonus yield during a 4-month period following Gull Swap’s launch.
- No trading fees: trading $vMANTA and $MANTA on Gull Swap will not incur any trading fees for a 4-month period following Gull Swap’s launch.
Using $vMANTA on Monroe
Monroe allows users to mint stablecoins ($monUSD) using $vMANTA as collateral. By using $vMANTA as a collateral, users keep $vMANTA rather than swapping out. With this structure, users can still earn the yield from $vMANTA alongside the $vMANTA itself, while also receiving $monUSD to use across the Manta ecosystem. Gull Swap also supports $monUSD:$vMANTA pools.
$vMANTA Adoption in the Future
Summer is only beginning, and we’ve already caught some big waves. We are excited about the continuing adoption of $vMANTA across DeFi, SocialFi, GameFi, RWAs and many other sectors. Stay tuned on our announcements via our Manta Newsletter to keep updated on all of the new activities involving $vMANTA.
About Manta Network
Manta Network is the modular blockchain for zero-knowledge (ZK) applications. Manta Pacific is the modular L2 ecosystem for EVM-native ZK applications and dApps that want to deliver the lowest cost and best experience for users. Leveraging Manta’s Universal Circuits to enable ZK-as-a-Service and Celestia’s data availability for modularity to deliver low gas fees, Manta Pacific offers the perfect environment for ZK-enabled applications. Learn more about Manta Pacific here.
Manta Network was created by a team of experienced founders from prestigious institutions, including Harvard, MIT, and Algorand. Manta Network has received investments from many of the top web3 investment funds, including Binance Labs and Polychain Capital. It has grown through participation in the best web3 accelerators, including Alliance DAO and Berkeley Blockchain Xcelerator.
