MANTRA

MANTRA has always focused on building forward-thinking products and services that offer long-term value for the community and ecosystem.

The Council believes certain changes to the ecosystem rewards would strengthen MANTRA as an ecosystem and improve $OM’s longevity and resilience during the prolonged challenging market conditions.

As such, we are proposing some of the $OM Ecosystem Rewards to be allocated to the new $OM staking pools on the MANTRA Finance platform.

Reasons for Proposal:

The Council has proposed the above change for two main reasons:

1. To support the long-term sustainability of $OM by implementing a more effective allocation strategy that reserves $OM for the most effective use cases.

2. To improve the management of future ecosystem airdrops.

Together, these changes aim to strengthen the ecosystem’s foundation and ensure MANTRA remains sustainable for years to come. An effective allocation of $OM and well-managed airdrops will help maintain community support and lay the groundwork for future product developments.

Proposal Summary:

The details for the changes in $OM Staking Rewards are provided in the table below:

• Staking rewards will be gradually reduced every 2 weeks starting August 1st on ZENTEREST, as well as $OM Naked Staking and $OM LP Staking pools on Ethereum, BSC, and Polygon;
• Staking rewards will be added to new pools on MANTRA Finance starting on August 15th 2023

Please also note that the 25% reward reduction above relates only to the amount of $OM being distributed. This does not directly correlate to the APR that your $OM will accrue.

Council’s Comments:

We strongly believe these adjustments are necessary steps in continuing to build a sustainable ecosystem that is well positioned for the future. We appreciate the community’s feedback and input during the proposal period to ensure the final changes reflect the goals and needs of the ecosystem as a whole.

We will run this proposal for 7 days (168 hours) commencing at 10 AM UTC on Thursday July 20th 2023 and ending at 10 AM UTC on Thursday July 27th 2023. The changes specified will take effect on August 1st 2023 at 12 AM UTC should the proposal pass.

~ The Council