Manta Network Airdrop Guide: Renew Paradigm
Manta Network is a blockchain platform that enables developers to build and deploy zero-knowledge (ZK)-enabled applications and dApps on Ethereum with low fees, high scalability and developer-friendly features. The Manta Network team have announced it would be doing an airdrop with 56 million Manta tokens up for grabs. This article is a guide to the Manta Network potential airdrop.
Check out our step-by-step guide on how to position yourself for the Manta Network token airdrop!
Manta Network Airdrop Step-by-step Guide
Here’s how to receive a potential Manta Network $MANTA token airdrop:
- Join the New Paradigm at Manta Network with our invite HERE
- Deposit ETH or USDC to Manta Network
- Open boxes
- Supply STONE into LayerBank
- BONUS: Borrow Ethereum on LayerBank and bridge again to Manta Network
- Participate in Renew Paradigm Campaign
See below for more details!
What is Manta Network?
Manta Network lets developers build and deploy zero-knowledge (ZK)-enabled applications and dApps on Ethereum with low fees, high scalability and developer-friendly features. Manta Pacific is the first EVM-equivalent ZK-application platform that is scalable and secure through Celestia DA and Polygon zkEVM. It offers the perfect environment for ZK-enabled applications by leveraging Manta’s Universal Circuits to enable ZK-as-a-Service and Celestia’s data availability for modularity to deliver low gas fees.
A team of experienced founders from prestigious institutions, including Harvard, MIT, and Algorand, founded Manta Network. It has received investments from many of the top web3 investment funds, including Binance Labs and Polychain Capital. The project has raised over $60 million from Polychain, Binance Labs, CoinFund and others.
Does Manta Network have a token?
Manta Network will introduce a utility token called $MANTA, which will be used for its rewards mechanism, governance, and mining. $MANTA is expected to be listed sometime in early 2024. Here are some of the features of the MANTA token:
- Governance: $MANTA token holders can vote on network governance decisions on Manta Pacific and Manta Atlantic
- Staking: Staking $MANTA contributes to the overall security of Manta Atlantic and rewards collators for producing blocks
- Network Fees: Manta Atlantic uses $MANTA to pay transaction fees, which are allocated to ecosystem projects, treasury, and collators
- Native Liquidity & Collateral: $MANTA token can be used in Manta ecosystem to serve as native liquidity and collateral for various applications and services
- Native Currency: $MANTA acts as the native currency for Manta Network, facilitating peer-to-peer transfers and transactions with contracts/pallets
How to get a potential Manta Network ($MANTA) token airdrop?
Here’s how to get a potential Manta Network ($Manta) token airdrop:
- Add Manta Network to MetaMask
Log in to your MetaMask wallet and find the Manta Pacific Mainnet Network on Chainlist here. Click “Connect Wallet” and follow the steps on your MetaMask wallet to add the network.
- Join the New Paradigm at Manta Network
Go to https://newparadigm.manta.network/?inviteCode=G2YCS and enter our invite code G2YCS to join. Note you must have an invite code to participate in the Manta Network token airdrop. Connect your Twitter account and wallet.
- Deposit ETH or USDC to Manta Network
Click “Deposit” on the left-hand side of the page and select how much ETH or USDC you wish to deposit. Confirm the transaction on MetaMask.
- Earn STONE, wUSDM, box pieces and O-points.
You will receive STONE and wUSDM within 24 hours of depositing ETH or USDC. STONE is yield bearing ETH. You will also receive box pieces, collect 25 box pieces to become 1 box that can then be opened. Bridging any amount onto Manta Network also lets you earn 5 O-Points per transaction. O-Points may be part of a potential airdrop in the future.
- Open boxes
When you receive 25 box pieces, you will be able to open 1 box. You can open the boxes weekly. These boxes may contain an NFT, and the objective is to get a collection of 6 NFTs. Boxes may also contain Lead Codes which can be combined to become Modular 2s. Modular 2s are what will make you eligible for the airdrops.
- Withdraw ETH and USDC
NOTE your deposited ETH and USDC can only be withdrawn after 69 days.
- Supply STONE into LayerBank
LayerBank is a non-custodial on-chain lending protocol. You can deposit your STONE into LayerBank and earn 3.6%, Base APR, Layerbank Token (LAB) APY, and eventually MANTA APY. To supply STONE to LayerBank, go to https://manta.layerbank.finance/bank and make sure you are on the Manta Network. Then, click on the STONE market. Select how much STONE you wish to supply and click “Supply”.
- BONUS: Borrow Ethereum on LayerBank and bridge again to Manta Network
By supplying STONE on LayerBank, you can use it as collateral to borrow ETH. The purpose of borrowing ETH is to transfer it off-chain, i.e. to transfer it from Manta to your MetaMask wallet on the Arbitrum Network using Orbiter Finance. Then, send the ETH to your exchange wallet. Finally, send the ETH back to Manta Network by repeating steps 3 to 4 above.
Note this is extremely risky and not recommended for beginners. This is because you could face liquidation if you use maximum leverage because of the negative borrow APY.
- Participate in Manta’s Renew Paradigm
Manta has recently launched its Renew Paradigm which offers double yield incentives for staking coins, combining various yields and fostering collaboration with partners. For Manta’s Renew Paradigm, 3 million $MANTA tokens are up for distribution. The Renew Paradigm will conclude at the end of April 2024.
See our below section for a step by step guide on how to participate in Manta’s Renew Paradigm.
- Withdraw $STONE and $wUSDM from Manta’s New Paradigm
The $STONE and $wUSDM withdraw feature will be available for Manta New Paradigm participants at 02:00 pm UTC/10:00 pm SGT on 26th March 2024. You can then choose to use the withdrawn tokens for Manta’s Renew Paradigm, see below.
Manta $MANTA token airdrop eligibility criteria
There are 2 main categories of Manta airdrop rewards: Airdrop Rewards and Airdrop Bonus Rewards.
Airdrop Rewards
- 30,000,000 $MANTA will be allocated towards the Airdrop Rewards. This will be distributed between supporters and users in the Manta ecosystem on both Manta Atlantic and Manta Pacific.
Here are the different categories of users who will be eligible for the MANTA Airdrop Rewards and the eligibility criteria:
Airdrop Bonus Rewards
This is known as the Great Treasure Hunt where 20,000,000 $MANTA will be allocated as bonus rewards that can be obtained by supporters and users in the Manta ecosystem. The Airdrop Bonus Rewards campaign is ongoing and will end on 18th January 2024 at 11:59pm UTC.
To get the Airdrop Bonus Rewards, you need to participate in the Great Treasure Hunt campaign. The Mysterious Treasure Chests contain 1 of 6 treasures hidden within the Manta Pacific. Each of the six NFTs you can obtain awards you with a piece of the total 20m $MANTA allocated for the Great Treasure Hunt campaign, while the Mystical Manta gives the largest allocation of that pool. When you discover that you have a treasure chest, you can open it immediately. Opening a treasure box will give you one of six different NFTs, each with a different rarity. If you are lucky enough to obtain all six NFTs from the Treasure Chests, you can combine them to create the legendary Mystical Manta NFT. The Mystical Manta, once just another manta ray in the waters, sparked life in the oceans of another dimension. It has since become an energy spirit, which only those truly worthy would catch a glimpse of. You can view your Treasure NFTs by connecting your wallet here.
Check out Manta’s Medium page here for more information on the airdrop.
How to claim your MANTA token airdrop
Here’s how to claim your MANTA token airdrop:
- Log in to https://airdrop.manta.network/ with your Manta Pacific and/or Polkadot wallet. Note you can only claim your airdrop starting on 18th January 2024 at 11:59pm UTC. The MANTA airdrop claim period will end on 18th June 2024 at 11:59pm UTC.
- You can still participate in the Great Treasure Hunt in order to get Airdrop Bonus Rewards up to 18th January 2024 at 11:59pm UTC.
Manta New Paradigm: Withdrawals open 26th March 2024!
The $STONE and $wUSDM withdraw feature will be available for Manta New Paradigm participants at 02:00 pm UTC/10:00 pm SGT on 26th March 2024. You can then choose to participate in Manta’s Renew Paradigm by staking $STONE, $MANTA and $wUSDM. Meanwhile, you can still open the boxes you have collected in Phase 1 to build NFTs which can be used to claim the airdrop.
What is Manta’s Renew Paradigm?
The Manta Renew campaign, referred to as the Manta Restaking Paradigm, is a new initiative introduced by Manta Network that focuses on optimizing capital efficiency and yield generation through Liquid Restake Tokens (LRTs). It offers Monster Yield including 3 million in $MANTA rewards and rewards from pools of 3% or more total token supply across 11 ecosystem projects. Here are the main features of the Renew Paradigm:
- Liquid Restaking Tokens: Users can bridge their weETH to Manta Pacific and earn rewards by participating in the Restaking Paradigm using LRTs.
- Penta Rewards: The campaign offers multiple rewards, including ETH staking yield, LRT projects point boost, Eigenlayer points, Manta Token Rewards, and incentives from Manta ecosystem projects.
- Ether.fi Integration: Ether.fi is the first project to join the Restaking Paradigm, offering non-custody staking protocol and opportunities to earn double points until the end of May 2024.
- Upcoming LRT Services: Several new LRT projects will soon be part of the campaign, including KelpDAO, Puffer, Bedrock, and Ethena.
How to participate in Manta’s Renew Paradigm: Step by step guide
Manta Network will have 3 million $MANTA tokens up for grabs in the Renew Paradigm campaign and available for distribution to participants. The 3 million $MANTA will be allocated across 11 projects, and some participating projects may offer their own rewards too! To get these rewards, simply engage with the 11 projects using $MANTA, $STONE and $wUSDM to get one of 3 types of Eco-Staked assets. The 3 types of Eco-Staked assets are: (1) regular wrapped ERC20 i.e. IMANTA from Layerbank; (Special ERC20) i.e. Chip in ZKholdem, 1:1 mint ZChip after staking; or (3) ERC721 LP NFT, which is similar to ERC721 LP in Aperture v3. These Eco-Staked assets can then be staked into the Manta Renew Paradigm to earn extra eco projects’ exclusive NFTs. Here’s a guide on how to participate in Manta’s Renew Paradigm:
- Get invite code: You need an invite to join Manta’s Renew Paradigm. Use the invite code HERE.
- Supply tokens on Manta Pacific: Visit Keom.io and switch to the Manta Pacific Network. Supply $MANTA, $wUSDM, and $STONE tokens. Note that unstaking will only be available in May 2024.
Other projects with confirmed airdrops to $MANTA holders
Here are some other projects with confirmed airdrops to $MANTA holders:
- Shoebill Finance ($SBL) will allocate 500,000 $SBL tokens to $MANTA holders.
- ZeroLend ($ZERO) has promised 1% of it’s $ZERO token airdrop to $MANTA stakers. To be eligible, participants must also lend/borrow on ZeroLend’s lending market.
- Yuliverse ($ART) are committing $ART airdrop campaign points to $MANTA holders.
- Vooi
- Capx ($CAPX) are committing 5 million $CAPX to $MANTA token holders.
- Dmail confirmed they will airdrop a “secret bonus” to Manta users.
Manta Network airdrop review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of airdrop: Manta Network airdrop is now live!
Airdropped token allocation: Manta Network have confirmed they will airdrop 56 million MANTA tokens. 50 million MANTA will be distributed in the “Into the Blue” airdrop, and 6 million $MANTA will be distributed to participants in the Binance parachain auction.
Airdrop difficulty: The Manta Network airdrop requires participants to bridge and deposit assets into the network. These tasks should not be difficult for those who are not complete beginners.
Token utility: The Manta Network token will be a utility token and will be used as part of its rewards mechanism, governance and mining.
Token lockup: The $MANTA token will be 100% unlocked at the token generation event.
Frequently Asked Questions (FAQs)
Make sure you are on the Manta Network on your MetaMask. You also need to have Ethereum on the Manta Network to pay any transaction fees e.g. when opening boxes.
For the best and cheapest way to bridge to Manta Network, send ETH from your exchange account (we recommend Bybit, free sign up HERE) to MetaMask using the Arbitrum Network. Then use, version 2 of Orbiter Finance to bridge your ETH from Arbitrum to Manta Network. This will cost around $2 to $3 dollars in transaction fees plus a small withholding fee of around 20 cents. Whilst using the Ethereum network to transfer ETH costs around $40 to $50.
According to our EXCLUSIVE INTERVIEW with Manta Network Co-Founder Kenny Li, the Manta Network Bridging and Box rewards will end sometime in January 2024.
You should receive your STONE and wUSDM rewards within 24 hours of your deposit. If you don’t see your STONE and wUSDM rewards, scan your wallet address on the Manta Pacific Explorer. Additionally, sometimes MetaMask may not automatically add the STONE and wUSDM token addresses to your MetaMask. In such case, you will need to manually add the token addresses in order to see your STONE and wUSDM balances.
Depositing on Manta Network requires you to use the New Paradigm, this is the only way to qualify for the Manta Network airdrop. However, you can also deposit ETH on Manta to pay for transaction fees, and you can do this using other protocols such as Orbiter Finance. This may also position yourself for a potential Orbiter Finance airdrop!
Check out our Orbiter Finance token airdrop guide
The Airdrop Rewards have 30 million $MANTA tokens allocated, while the Airdrop Bonus Rewards have 20 million $MANTA tokens allocated.
You can check your eligibility by visiting https://airdrop.manta.network/ and logging in with your Manta Pacific wallet and/or Polkadot wallet.
You can get the Airdrop Bonus Rewards by participating in the Great Treasure Hunt campaign, which involves finding and opening Mysterious Treasure Chests that contain different NFTs. You can also trade these NFTs with other community members or combine them to create the Mystical Manta NFT.
The MANTA airdrop claim period will start on 18th January 2024 at 11:59 UTC and end on 18th June 2024 at 11:59pm UTC.
