Announcing the Finxflo Staking Program on MANTRA DAO
With 6 million FXF staked on MANTRA DAO, token holders have the potential to receive around 30% APY in token rewards
We are proud to expand upon our partnership with MANTRA DAO and welcome the Sherpas Community to the Finxflo ecosystem! MANTRA DAO is a community-governed DeFi platform. This partnership will benefit both the Sherpas and the FXF community, resulting in the opening of a decentralized staking pool for FXF tokens.
Stake Your FXF on MANTRA DAO
This unique pre-platform staking program is designed to reward FXF token holders who stake their FXF tokens on the MANTRA DAO platform. Users can begin to stake their FXF beginning tomorrow, Friday, March 5. Rewards will be distributed in FXF tokens and will begin to accrue on Wednesday, March 10. These rewards will automatically compound, meaning that you do not need to claim and restake the accrued rewards in order to maximize your return. The MANTRA DAO staking smart contract will optimize that for you.
The minimum time commitment for earning FXF staking rewards is 30 days. While stakers are free to withdraw their FXF tokens at any time, rewards may not be fully claimed until April 10. Unstaking before this date runs the risk of not being compensated with FXF rewards. We have allocated 144,000 FXF tokens per month to support this pre-platform staking program and will be topping up the smart contract with this amount every month on or about the 10th of the month. FXF token holders who only intend to stake their tokes for less than one month, may not find this program appropriate for their investment objectives.
There is no limit to the number of FXF tokens that can be staked into this smart contract. However, as there is a fixed number of FXF token rewards set per block, the APY will evolve dynamically according to the number of tokens staked into the MANTRA DAO staking smart contract. To provide you with some expectations for potential rewards, we have developed the following chart.
The chart above provides the amount of FXF tokens staked in the MANTRA DAO staking smart contract on the horizontal axis and the expected staking rewards APY on the vertical axis. Theoretically, if only 100,000 FXF tokens are staked during the initial contribution period from March 5 to March 10, those stakes would enjoy 1752% APY staking rewards. However, since we expect there to be many more FXF tokens staked during this period, we have provided a range of expected staking rewards’ APY outcomes.
If only 500,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period are expected to be 350.4%.
If only 1,000,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period are expected to be 175.2%.
If only 2,000,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period are expected to be 87.6%.
If only 4,000,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period are expected to be 43.8%.
If only 6,000,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period are expected to be 29.2%.
And so on.
The basic principle to take away here is that the more FXF tokens staked into the MANTRA DAO staking smart contract, the lower the rewards APY will be. Also, please keep in mind that the rewards APY in this estimations are not denominated in USD but rather in FXF tokens themselves. Should the FXF token increase or decrease in value, that would of course affect your real rewards APY rate denominated in fiat.
Step-by-Step: How to stake Your FXF
1) Go to the MANTRA DAO homepage and click the “App” button.
2) Connect your Web3 wallet. We find that Metamask seems to work well.
3) After clicking on the “App” button, the first page that you will arrive on is the Staking page. Scroll down until you see the FXF section on the menu. Click on the FXF tab.
4) An FXF-STAKING menu will appear. Please note that the Estimated APR and Estimated Daily Rewards are estimates as of that time and do not take into account future contributions into the MANTRA DAO staking smart contract for FXF. Input the amount of FXF tokens you would like to stake. Click on “Next” and validate the transactions on your wallet using your Metamask browser extension.
5) Congratulations! Your FXF tokens are now staked, and you are earning FXF token rewards!
If you encounter any difficulty in the process of staking your FXF on MANTRA DAO, please don’t hesitate to reach out on our Telegram for assistance. We hope you all take advantage of this exclusive limited-time opportunity to increase your stack of FXF tokens before our platform has gone live.
Stay tuned for more rewards opportunities!
About MANTRA DAO
MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance. MANTRA DAO leverages the crowd’s wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.
Our mission is to create an industry-leading trading platform to facilitate multi-crypto exchange access and provide both retail and institutional investors with professional-grade tools and global best prices through a user-centric interface.
We believe in a cryptocurrency market built on the values of legitimacy and trust, fully accepted by, and accessible to, the mainstream population. We envisage a level playing field for all participants, with the best prices available to traders irrespective of their portfolio size and location, with market distortions and unfair trading practices eliminated.
Our proprietary smart ordering algorithm distributes orders across multiple exchanges and retrieves optimum buy or sell prices, reducing slippage from large orders.
Everyone on our platform gets access to our dark pool, allowing traders to swiftly move in and out of any trade without incurring any market inefficiencies. Importantly, this allows protection from front running!
All with just one account, one KYC, and one wallet!