Stablecoin Launch Event: Privatize your Stable Assets for 30000% APY and Enhanced Privacy
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We are excited to enable support for privatization and private transacting of USDT, USDC and DAI! In celebration, we are introducing the Stablecoin Launch Event, a limited-time event that takes place for a period of two weeks starting from Thursday, June 29 (see more details and timelines below).
Calamari Network’s MantaPay app provides a secure and efficient platform for users to conduct private transfers. The goal of the Stablecoin Launch Event 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.
For this campaign, we encourage our community users to experience a journey of bridging their stablecoins and then privatizing them to enjoy the Web3 world with Privacy!
Detailed rules about Privatize to Maximize Stablecoin Week
The Stablecoin Launch Event specially incentive program will also consist of two types of rewards. The total rewards will be 20,000,000 KMA.
Part 1: Gas fee paid rewards
Users who conduct privatized stable assets transactions using MantaPay will receive a stipend that covers a certain percentage of their gas fee paid. The incentive program will run for 2 weeks, with the total reward pool of 10,000,000 KMA. Reward breakdown for each week is as follows:
- Week 1 ( June 29 to July 6): 5,000,000 KMA
- Week 2 ( July 7 to July 14): 5,000,000 KMA
The rewards percentage will be determined based on the following multiplier scale:
- If Multiplier = 0.0002X, the rewards will be 30000% of users’ gas fee paid
- If Multiplier > 0.0002X, <= 0.1X, the rewards will be 1000% of users’ gas fee paid
- If Multiplier > 0.1X, <= 0.2X, the rewards will be 300% 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
#Multiplier: Multiplier is impacted by the congestion of the network. Here is more information about it:
https://github.com/paritytech/substrate/blob/master/frame/transaction-payment/src/lib.rs#L38
https://docs.substrate.io/build/tx-weights-fees/ （Fee Multiplier part）
The single address transaction amount cap for Part 1 rewards will be set at 100. In this campaign, Addresses in Week 1 will be allowed to participate in Week 2.
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 two-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 400,000 KMA each, and users ranked 7th through 100th will each receive 27659.5745 KMA.
Transaction category will be rewarded
You will be rewarded with a public to private transaction with privatizing your stablecoin from Manta XCM bridge.
Stablecoin supported list:
DAI, USDC, and USDT
Time schedule
The 2 weeks time schedule will be as follows:
- Week 1 ( June 29 to July 6): 10,000,000 KMA (Combining rewards from Part 1 and Part 2)
- Week 2 ( July 7 to July 14): 10,000,000 KMA (Combining rewards from Part 1 and Part 2)
All transactions in these time periods are eligible for these two types of rewards above.
After the whole 2 weeks program, there will be a 7 days of notice period. Feel free to reach out to our CM team if you have any doubts about your rewards.
Reward Vesting Schedule
After the conclusion of the two-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.
Get started to privatize to maximize following these steps!
Step 1: Acquire stable coins on Karura.
You can use Karura Bridge to bridge USDC or DAI from Ethereum to Karura. Alternatively, you can use it to bridge USDT from Statemine to Karura. For more details on how to acquire USDT on Statemine, please refer to this guide.
To perform these actions, ensure that you have added Metamask and any of the following Polkadot wallets, including Polkadot{.js}, Talisman, and Subwallet, to your Chrome browser.
https://apps.karura.network/bridge
Step 2: Bridge stable coins from Karura to Calamari.
Once you have acquired stable coins on Karura, you can use Manta Bridge to transfer them from Karura to Calamari. You can accomplish this by using any of the following Polkadot wallets: Polkadot{.js}, Talisman, and Subwallet.
https://app.manta.network/calamari/bridge
Step 3: Add Manta Wallet extension into your chrome
https://chrome.google.com/webstore/detail/manta-wallet/enabgbdfcbaehmbigakijjabdpdnimlg/related
Step 4: Make transactions on MantaPay to start to earn the rewards!!
Now you can use Polkadot{.js}, Talisman, or Subwallet in conjunction with the Manta wallet to begin using MantaPay for “Public to Private” and “Private to Private” transactions and start earning rewards.
https://app.manta.network/calamari/transact
Public to Private transaction
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.
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.
