Update on $OM Community Staking Platform

MANTRA
2 min readMar 26, 2024

Dear Sherpas,

As you may be aware, a community proposal was recently approved (LINK) calling for the creation of a community led staking platform. The proposal noted that not all Sherpas would be able to stake on the new mantra.finance platform and hence benefit from the new staking system in effect until mainnet later this year.

While a staking alternative was not initially part of our immediate plans, we genuinely value the voice of our community. Therefore, we have decided to take action accordingly. After all, the new staking system is intended to reward our long term supporters and this community platform will allow for a fair inclusion of everyone.

Here are all the details around the community staking platform:

The creator of the proposal has already identified a capable developer who is responsible for the platform. Once the platform is launched, we will carry out testing to assure that it functions properly. The new platform will include three single asset staking pools:

OM on ETH

OM on POL

OM on BSC

These Staking pools will be included in the snapshot mechanism we explained in our recent article. The pools are audited smart contracts that have been used in the past.

The developer aims to go live with the new platform by the end of March 2024 and the first snapshots will be taken 24–48 hours after the launch.

Please note that this community platform will only be valid for staking rewards until the mainnet launch of MANTRA Chain. The prior staking product (single asset and LP Pools) on app.mantradao.com will still be deprecated by March 31st 2024.

As always, we will keep you updated through our social media channels and make the announcements accordingly.

Thank you for your continued support and your trust. Please reach out to us should you have any questions.

Connect with us and be part of our journey.

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MANTRA

Unlocking the $16 Trillion RWA economy with a regulation-ready blockchain.