Lock $MNT on Mantle Network & Unlock 2.5B Ethena Shards With Mantle Rewards Station

03/25/244 min read

Mantleby Mantle




Lock $MNT on Mantle Network & Unlock 2.5B Ethena Shards With Mantle Rewards Station

Lock your $MNT on Mantle Network and unlock 2.5 billion Ethena Shards — We're thrilled to bring to the $MNT community Ethena's coveted Shards with the newly unveiled Mantle Rewards Station, where $MNT holders will find rewards and perks from some of the Mantle Ecosystem dApps you know and love. Debuting under the Mantle Rewards Station is the Mantle Sharding With ETH ena event, brought to you in conjunction with Ethena Labs.

We have added the conversion ratio of mShards to ENA in this blog as of 582 mShards to 1 $ENA. Please note that this ratio follows the Shards:$ENA ratio as decided by Ethena. We advise all participants to be aware of these risks before engaging.

  • Participation Eligibility: Any and all $MNT holders who lock their $MNT in Mantle Rewards Station only
  • Event Period
    • Warm-Up Phase: March 25, 2024, 10AM UTC - March 27, 2024, 9:59AM UTC
    • Official Lock In Period: March 27, 2024, 10AM UTC - April 26, 2024, 10AM UTC
    • Official Rewards Claimable End Date: May 25, 2024, 9:59AM UTC

Participate in 3 Easy Steps

  • Step 1: Head to the Mantle Rewards Station
  • Step 2: Connect your wallet and enter the amount of $MNT you'd like to lock in the vault
  • Step 3: Proceed to lock and start accumulating rewards (see next section)

$MNT holders may begin to lock their $MNT from March 25, 2024, 10AM UTC onwards; rewards will be officially counted beginning March 27, 2024, 10AM UTC.

You may lock any $MNT amount you prefer. Unlock your $MNT and claim your rewards at any time.

Lock Now

Claim mShard Rewards

The campaign's Ethena Shards rewards are fully backed by Mantle Treasury, and will be distributed to participants via Mantle Rewards Station in the form of a receipt token, mShard. mShard holders will be able to redeem Ethena's native token $ENA at a conversion rate of 582 mShards to 1 $ENA.

Rewards are updated real-time every second based on the total amount of $MNT has been locked per day, and can be claimed at any time via the "Claim" section. Participants have until May 25, 2024, 9:59AM UTC to claim their rewards.

  • Total Amount of mShards Per Participant per Second = (X $MNT / Total $MNT Locked per Second By All Participants) * per Second Rewards Prize Pool

For example, if Alice locks 1,000 $MNT without unlocking it within a day, a total of 1,000,000 $MNT has been locked on this day and amount of tokens released per second is 10,000, her total amount of mShards received on this day would be calculated as (1,000 $MNT / 1,000,000 $MNT) * 10,000 = 10 mShards

Leave your $MNT in the vault throughout the entire event period to maximize your final reward gains!

Once you collect your mShards, you can convert them to $ENA using the "Convert" tab on the Mantle Rewards Station.

A Mantle Ecosystem First: Trade Ethena Shards

Synthetic dollar protocol Ethena has teamed up with Mantle to bring its delta-neutral synthetic dollar USDe and its staked version, sUSDe, to Mantle Ecosystem. Ethena Shards serve as a measure of a user's contribution to the Ethena ecosystem throughout the campaign period. To incentivize MNT holders, Ethena Shards earned by Mantle Treasury will be distributed in the form of mShards, rewarding users for their participation and support of Ethena's innovative financial ecosystem.

With this event, Mantle is the first ecosystem that allows users to freely trade Ethena Shards in the form of mShards across various DeFi dApps. Upcoming integrations will be announced soon.

The actual token issuance of the $ENA token and its conversion rates are determined by Ethena, and are subject to potential changes or unforeseen adjustments. We advise all participants to be aware of these risks before participating.

Stay updated with the latest developments in this campaign and future initiatives through the Mantle Rewards Hub. To ensure you don't miss any updates, make sure you're following Mantle on X/Twitter.

Terms & Conditions:

  1. Users can begin locking their $MNT in the vault from March 25, 2024, 10AM UTC onwards prior to the starting time of the staking period, but only $MNT locked on Mantle Rewards Station from March 27, 2024, 10AM UTC onwards will be counted for Ethena Shard rewards.
  2. Participants can unlock their $MNT and claim their available mShards at any time. Please note that rewards will be reflected real-time based on the total amount of $MNT locked (or unlocked) by users.
  3. At the end of the event period, please make sure you claim your mShards within nine (9) days or you may risk forfeiting your rewards.
  4. If you require any assistance, please head to our Discord channel.

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