Privatize to Maximize: Privatize your assets for 20000% APY and enhanced privacy
Calamari Network’s MantaPay App provides a secure and efficient platform for users to conduct private transfers. As part of our efforts to promote the use of private transfers on our network, we are excited to announce “The Manta Shield: Privatize to Maximize,” a campaign to encourage and incentivize on-chain activity on MantaPay.
The goal of this campaign is to encourage users to try out private transfers on our network and boost the Web3 privacy world, by bridging Web3 public assets into the privacy world to experience enhanced privacy.
Get started with Privatize to Maximize following these steps!
- Add Manta Wallet extension into your chrome
- Make ‘Public to Private’ & ‘Private to Private’ transactions on MantaPay to start earning rewards!
- Visit the Leaderboard to view your scores.
Detailed rules about The Manta Shield: Privatize to Maximize
The incentive program will consist of two types of rewards.
Part 1: Gas fee paid rewards
Users who conduct transactions using MantaPay will receive a stipend that covers a certain percentage of their gas fee paid. The incentive program will run for four weeks, with the total reward pool of 10,000,000 KMA. Reward breakdown for each week is as follows:
- Each Week period begins and ends at 2PM UTC (10AM EST)
- Week 1 (May 1 to May 6): 1,750,000 KMA
- Week 2 (May 8 to May 13): 2,250,000 KMA
- Week 3 (May 15 to May 20): 2,750,000 KMA
- Week 4 (May 22 to May 27): 3,250,000 KMA
In addition, every user can only participate in one out of the four weeks (i.e. Week 1 participants cannot participate again in Week 2/3/4), and the single address transaction amount cap for Part 1 rewards will be set at 100.
The Multiplier is affected by the congestion of the network. To view the lines of code that determine the multiplier, you can visit this GitHub repo. For more information about transaction fees, visit this documentation. The rewards percentage will be determined based on the following multiplier scale:
- If Multiplier = 0.0002X, the rewards will be 20000% of users’ gas fee paid
- If Multiplier > 0.0002X, <= 0.1X, the rewards will be 800% of users’ gas fee paid
- If Multiplier > 0.1X, <= 0.2X, the rewards will be 200% of users’ gas fee paid
- If Multiplier > 0.2X, <= 0.3X, the rewards will be 150% of users’ gas fee paid
- If Multiplier > 0.3X, <= 0.4X, the rewards will be 133% of users’ gas fee paid
- If Multiplier > 0.4X, <= 0.5X, the rewards will be 125% of users’ gas fee paid
- If Multiplier > 0.5X, <= 0.6X, the rewards will be 120% of users’ gas fee paid
- If Multiplier > 0.6X, <= 0.7X, the rewards will be 116% of users’ gas fee paid
- If Multiplier > 0.7X, <= 0.8X, the rewards will be 114% of users’ gas fee paid
- If Multiplier > 0.8X, <= 0.9X, the rewards will be 112% of users’ gas fee paid
- If Multiplier > 0.9X, <= 1X, the rewards will be 100% of users’ gas fee paid
Rewards will be distributed on a rolling basis, with each week ending once the rewards have all been claimed. In the case of unclaimed rewards at the end of the designated one-week period, the remaining rewards will be added into next week. If there are any leftover rewards at the conclusion of the four-week campaign, they will be stashed, ready to carryover to a future Calamari incentive campaign.
Part 2: Score reward
In addition to the Part 1 rewards, we will also have the Manta Shield Score Reward, which is designed to further incentivize users to privatize their tokens and participate in the MantaPay ecosystem. The total reward pool will also be set at 10,000,000 KMA, split equally across the four-week program period.
For this section of the campaign, users will earn a score based on two factors:
- Gas fees paid — dollar value
- To private tokens’ dollar value
The formula for calculating a user’s score is:
UserScore = ([Gas Fees Paid] ^ 0.8) * ([To-Private Value] ^ 0.2)
At the end of each week, the top 100 users with the highest scores will be eligible to receive rewards.
The top 6 users will each receive 200,000 KMA each, and users ranked 7th through 100th will each receive 13,829.7872 KMA.
Two kinds of Transactions will be rewarded
1. Public to Private transaction
The first kind transaction will be rewarded by privatizing your assets from public to private. We will have the instruction of privatizing your assets in the next part of this article.
2. Private to Private transaction
You will also be rewarded when you are making a private transfer!
The 4 weeks time schedule will be as follows:
- Week 1: May 1 UTC 2PM (10AM EST) — May 6 UTC 2PM (10AM EST)
- Week 2: May 8 UTC 2PM — May 13 UTC 2PM
- Week 3: May 15 UTC 2PM — May 20 UTC 2PM
- Week 4: May 22 UTC 2PM — May 27 UTC 2PM
All transactions in these time periods are eligible for these two types of rewards above. After the 4-week program, there will be a 7-day notice period. Feel free to contact our CM team if you have any questions about your rewards.
Reward Vesting Schedule
After the conclusion of the four-week campaign, there will be a 7-day notice period to address any potential concerns regarding the accumulated rewards. The rewards will be distributed to the eligible participants 48 hours after the public notice period ends.
About Manta Network
Manta Network is the zk layer 1 blockchain with the fastest prover speed and most decentralized trusted setup that brings programmable privacy to web3. Its suite of core products and technologies, including zkNFTs and MantaPay, offers user-friendly access to powerful ZK-enabled use cases.
The project is created by a team of experienced founders from prestigious institutions, including Harvard, MIT, and Algorand. The team began its research on Zero Knowledge Proof in 2019 during a cross-border payment research project under the MIT Digital Currency Initiative with the Monetary Authority of Singapore. 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. Manta Network is poised to bring the next generation of web3 users and usher in a new chapter of privacy-focused web3 applications.
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About Calamari Network
Calamari Network is Manta Network’s canary network, which is deployed as a layer 1 network leveraging Substrate to connect to the entire Kusama ecosystem. Calamari Network offers on-chain privacy using zero-knowledge proofs with its flagship protocol, MantaPay on Calamari. MantaPay on Calamari allows users within the Kusama ecosystem to transact any Substrate-based cryptocurrencies in a privacy-preserving manner.