Manta Network | New Paradigm event participation process, conservative and aggressive strategies

Author: Biteye Core Contributor Crush

New Paradigm is a liquidity incentive activity within the Manta ecosystem launched on the Manta public chain, similar to the liquidity staking feature introduced by Blur earlier, where users can stake their funds to receive future token airdrop rewards.

Note: The Manta public chain is the first built on Celeasita's ETH L2.

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Compared to Blast, New Paradigm's advantage lies in its rich ecosystem projects and a shorter payback period, with users able to receive token airdrops as early as January 2024.

Furthermore, the Manta public chain itself has received a $60 million investment from top institutions such as Binance Labs and Polychain Capital, reaching a valuation of $500 million.

Manta New Paradigm Expected Rewards

The expected rewards for the event include the following:

After ETH and USDC are cross-chain to the Manta ecosystem, similar to Blast, even if the assets are idle, they will generate around 5% interest continuously;

Participate in the event by staking assets to receive future token airdrops;

Participate in the interaction of projects within the Manta ecosystem to get potential airdrop opportunities from the projects themselves;

After staking ETH and USDC, use the acquired Stone and wUSDM to participate in projects within the Manta ecosystem, such as lending projects, to receive the profits provided by the projects themselves.

Gameplay Explanation

Basic Logic

Total Rewards: 3% (Basic Reward) + 2% (Extra Reward) + 1.5% (Ecosystem Reward) = 6.5%

Users stake ETH or USDC to receive blind box fragment rewards, which can be exchanged for blind boxes. The NFTs obtained from the blind boxes can be exchanged for future token airdrops.

Initial Reward

High-quality users can receive a different quantity of blind box fragments as initial rewards based on their ratings.

If there is an initial reward and the user wishes to receive it, they need to deposit 0.25 ETH or an equivalent amount of USDC to activate the wallet and receive an invitation code.

If there is no initial reward, a minimum of 0.01 ETH or an equivalent amount of USDC is required to activate the wallet and receive an invitation code.

Reward Calculation

By staking 1 ETH, users can receive 25 blind box fragment rewards every 7 days. 25 blind box fragments can be combined to form 1 blind box, which can then open 1 NFT.

It is important to note that unlike Blast, this activity has a short time frame, with funding stopped in January. It is unlikely to collect all NFTs by extending the timeline with small funds.

Invitation System

After the first recharge, users can receive 8 invitation codes. When the group's funds reach 5E, an additional 5 invitation codes can be obtained. Upon reaching 20E, a permanent invitation code can be obtained.

Inviters can receive two levels of rewards, 16% and 8%, respectively. For example, if A invites B, A can receive 16% from B and 8% from C, increasing the activity's outreach.

Acceleration and Efficiency Bonus

If users initially deposit a larger amount of assets, the 7-day waiting period will be reduced, and they may even receive the first week's fragment reward directly. However, the acceleration effect can only be used once.

The more funds the group stakes, the more additional blind box fragments they will receive within each cycle.

Extra Reward

The default 3% reward is distributed to 6 types of NFT holders. To receive an additional 2% reward, users can combine the 6 types of NFTs received into a super rare NFT, and holders of the super rare NFT can receive a 2% token reward.

The 6 types of NFTs can be obtained either by participating in the activity to open blind boxes or by buying and selling them in the market.

In addition, users who participate in the interaction of Manta ecosystem projects (Dex, Lending, providing LP, etc.) can also receive a 1.5% token reward. Manta ecosystem projects can be found here.

Key Timeline

• In January 2024, users can exchange the obtained NFTs for token rewards;
• After receiving the token rewards for 69 days, users can unlock and transfer their staked ETH and USDC from the Manta ecosystem;

Specific Operations

newparadigm.manta.network

Join the Event

• Use the Biteye invitation link above to access the event page and join the Biteye group for exclusive additional rewards;
• Half of the invitation rewards go to group members;
• Biteye has received 25,871 $Manta in official Grant, 25%-50% of which will be given to group members as incentives;
• More benefits Coming soon;

Click on "Join Now" on the event page to join the event.

Bind Twitter, connect the wallet, and confirm the initial rewards.

Initial Reward Activation

If there is an initial reward, the congratulatory interface shown below will appear, and depositing the corresponding funds will activate the reward.

If there is no initial reward, the interface shown below will appear, prompting the user to switch wallets and try again.

Here, the funds are transferred from the mainnet to the Manta network. When depositing funds, pay attention to the gas fees on the mainnet. ETH will become Stone after depositing, and USDC will become wUSDM. If there is no gas for future interactions, third-party bridges like MiniBridge can be used to cross-chain to the Manta network, saving on gas fees.

It is important to note that to participate in the event, funds must be deposited through the event page to receive blind box fragments. However, for future interactions within the Manta ecosystem, such as the required gas, third-party bridges can be used for cross-chain transactions.

https://minibridge.chaineye.tools/

Overview of Event Interface

Here, since the deposited funds are less than 1 ETH, only 0.27 ETH, the cycle time is extended to (1/0.27) x 7 = 25.9 days, approximately 25 days and 22 hours per cycle.

This means that users can receive 6 fragments each week, and after 25 days and 22 hours, the fragments can be used to combine into a blind box.

This is why it was mentioned above that if the funds are too small, there may not be enough time to combine a blind box before the event ends. However, below are some aggressive strategies to help small funds speed up this progress, although the risks are higher, so choose according to personal circumstances.

Strategy Introduction

Stable Gameplay (Buy Stone + LP + Lending)

After depositing ETH, many users may sell their Stones to perform more aggressive operations with their funds. At this time, the price of Stone will definitely deviate from ETH. However, as the assets unlock in the future, the Stone price is likely to gradually stabilize and return to parity with ETH. Buying Stone at a low price and waiting for a stable increase is recommended.

As shown in the image above, the current price of Stone is only 0.89 ETH. Buying at this price and waiting for it to return to 1 ETH is recommended.

Furthermore, after depositing ETH, users can take the obtained Stone to Quickswap to form LP and earn transaction fee income or deposit the funds into the lending platform Layerbank to earn lending rewards, along with an additional 1.5% ecosystem reward provided by Manta.

Aggressive Gameplay (Sell Stone + Recycle into ETH)

Sell Stone directly for ETH on Quickswap, use a cross-chain bridge to transfer it out, then deposit it back in to earn more fragment rewards with small funds.

However, note that as Stones are continually sold, there is already nearly 11% depreciation here. If you believe that future airdrops cannot cover this depreciation, it is not recommended to proceed in this manner.

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