Manta Network Launches 1.5x Points Boost Program for CeDeFi Participants - Blockchain.News

Manta Network Launches 1.5x Points Boost Program for CeDeFi Participants

Rebeca Moen May 31, 2024 02:17

Manta Network introduces a 1.5x points boost for CeDeFi participants from May 31 to June 30.

Manta Network Launches 1.5x Points Boost Program for CeDeFi Participants

Manta Network has unveiled an exciting initiative aimed at rewarding its loyal user base. Between May 31 and June 30, eligible participants in the Manta CeDeFi program will have the opportunity to earn a 1.5x points boost, according to Manta Network.

Timeline and Eligibility

The Boost Program will commence at 12:00 PM SGT on May 31 and conclude on June 30 at 10 AM SGT, lasting a total of 30 days. A snapshot to determine eligible wallet addresses will be taken at the start of the event on May 31 at 10 AM SGT. To qualify, participants must meet at least one of the following criteria:

  1. Participation in the Renew Paradigm series
  2. Holding a Golden Shovel
  3. Staking at least 500 $MANTA on Manta Atlantic or Manta Pacific

Participants who meet these criteria will automatically receive the 1.5x points boost for any deposits made during the event period. For instance, if a participant deposits on June 15, they will receive the boost from June 15 to June 30.

Boost Program Details

The 1.5x boost applies exclusively to points accumulated through depositing assets into the CeDeFi product. Other points, such as those earned through daily check-ins, are not eligible for this boost. Notably, participants who have already deposited assets before the campaign starts will still benefit from the boost without needing to take additional actions.

Points Collection and CeFi APY

Points are accrued every 24 hours at 00:00 UTC and can be collected by opening the Points Box on the CeDeFi dashboard. It's essential to note that the CeFi APY is estimated based on historical data and does not guarantee future yields. The estimated APY, updated based on past performance, helps users gauge potential returns.

About Manta CeDeFi

Manta CeDeFi is a unique event on Manta Pacific that combines aspects of centralized finance (CeFi) and decentralized finance (DeFi). This integration aims to enhance yield and security for users, offering traditional CeFi returns, high-yield DeFi products, and additional rewards in the form of Manta tokens and points.

About Manta Network

Manta Network is a modular blockchain designed for zero-knowledge (ZK) applications, enabling a secure and efficient ecosystem for EVM-native ZK applications and dApps. The network leverages its Universal Circuits and Celestia’s data availability to deliver low gas fees and a seamless user experience. Manta Network has garnered investments from leading web3 funds, including Binance Labs and Polychain Capital, and boasts a team with expertise from Harvard, MIT, and Algorand.

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