Key points of this article:
A prize pool of one million MNT is divided into a 400,000 lottery prize pool and a 600,000 L3 task prize pool.
The second phase of tasks starts on 11/26 and ends on 12/24.
L3 tasks are divided into welcome tasks and advanced tasks, mainly focusing on cmETH and FBTC.
Recently, Mantle has been actively promoting cmETH and FBTC to seize the LST and LRT tracks. It recently established the "Mantle Yield Lab" and launched a series of incentive Defi protocols' Defi Fest activities, with a total prize pool of up to 1M MNT tokens (current market value approximately 1.17M). Come and see how to participate!
Basic information on Mantle Defi Fest
Event time
First phase community voting: 11/12-11/18 2024 1PM UTC (ended).
This phase allows users to choose eight protocols from 24 protocols to participate in the second phase of incentive promotion.
Completing community voting can earn you two lottery tickets.
Completion of Layer 3 tasks in the second phase: 11/26-12/24 2024 1PM UTC.
Complete the tasks designed by the eight protocols to advance to the second round. The tasks include basic on-chain operations such as staking, trading, and cross-chain, and the required amounts are not large.
Completing L3 tasks will earn you cubes, where cube = lottery ticket.
Prize pool allocation
Lottery division of 400,000 MNT: Lottery tickets obtained from the first phase of voting and from completing tasks in the second phase can participate in the division of 400,000 MNT. The specific distribution is shown in the image below.
Complete L3 tasks to divide 600,000 MNT: According to the ranking of TVL and DAU, these eight protocols can receive varying rewards pools, which will be distributed to users. The specific distribution is shown in the image below.
The eight participating protocols are Orbiter, Cleo, Merchant MOE, PumpBTC, AGNI, Mitosis, Lendle, and INIT.
Participation method
Enter the Layer 3 event page of Mantle Yield Lab (link provided in the pinned comment below).
Complete four Welcome Tasks to earn four cubes (=4 lottery tickets). The tasks mainly involve reading document information + community tasks. Additionally, the wallet must hold MNT.
Complete the eight protocols' Advanced Tasks to earn eight cubes (=16 lottery tickets because one cube = two lottery tickets for advanced tasks).
Summary
In this past year, Mantle, with its vast treasury, has been fully promoting the on-chain defi ecosystem, attracting new users to join the Mantle ecosystem through various subsidies. If you haven't used Mantle yet, I strongly recommend you to participate!
We are focusing more on this event. In fact, the Advanced Tasks launched by the eight protocols are mostly designed around the two flagship projects supported by Mantle: cmETH and FBTC.
Let me tell you a secret: while participating in this Defi Fest, you can also accumulate airdrop points for cmETH and FBTC! It's a great opportunity, so don't hesitate!
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While holding cmETH to participate in the Defi Fest, if you want to increase your COOK airdrop points by an additional 10%, don’t forget to fill in the referral code section in Methamorphosis:
"myronchiu", you and I can both increase our points by an additional 10%.
※ The above content does not constitute investment advice. Users should operate according to their own risk tolerance. Please DYOR and participate in the investment market cautiously.
※ The attached image is from the Mantle announcement.
