Calamari Network’s MantaPay app provides a secure and efficient platform for users to conduct private transfers. As part of our efforts to promote the use of private transfers on our network, we are excited to announce the fourth round of “The Manta Shield: Privatize to Maximize: Privatize your stable assets” the campaign to encourage and incentivize on-chain activity on MantaPay from July 31st to August 27th, 2023. The goal of this campaign is to encourage users to try out private transfers on our network and boost the Web3 privacy world, by bridging Web3 public assets into the privacy world to experience enhanced privacy.
For this round of campaign, a total pool of 20,000,000 KMA rewards will be available for users who explore the experiences and privatize their stablecoins on MantaPay App in the following 4 weeks. We encourage our community to enjoy the Web3 world with Privacy!
Get Started with The Manta Shield: Privatize to Maximize
Incentive Program Schedule
Week 1: July 31, 9AM EST — Aug 6, 9AM EST
Week 2: Aug 6, 9AM EST — Aug 13, 9AM EST
Week 3: Aug 13, 9AM EST — Aug 20, 9AM EST
Week 4: Aug 20, 9AM EST — Aug 27, 9AM EST
Detailed rules about Privatize to Maximize Campaign IV
This round of incentive program has a total prize pool of 20,000,000 KMA and consists of two types of rewards: Gas Fee Paid Rewards and Score Rewards. All transactions made within the 4-week period are eligible for the following two types of rewards:
Part 1: Gas fee paid rewards
Users who conduct privatized stable assets transactions using MantaPay will receive a stipend that covers a certain percentage of their gas fee paid. With a total reward pool of 16,000,000 KMA, each week’s reward breakdown is as follows:
- Week 1: 4,000,000 KMA
- Week 2: 4,000,000 KMA
- Week 3: 4,000,000 KMA
- Week 4: 4,000,000 KMA
Transaction amount cap for Gas Fee Paid Rewards will be set at 100. The rewards percentage will be determined based on the following multiplier scale:
- If Multiplier = 0.0002X, the rewards will be 30000% of users’ gas fee paid
- If Multiplier > 0.0002X, <= 0.1X, the rewards will be 1000% of users’ gas fee paid
- If Multiplier > 0.1X, <= 0.2X, the rewards will be 300% of users’ gas fee paid
- If Multiplier > 0.2X, <= 0.3X, the rewards will be 150% of users’ gas fee paid
- If Multiplier > 0.3X, <= 0.4X, the rewards will be 133% of users’ gas fee paid
- If Multiplier > 0.4X, <= 0.5X, the rewards will be 125% of users’ gas fee paid
- If Multiplier > 0.5X, <= 0.6X, the rewards will be 120% of users’ gas fee paid
- If Multiplier > 0.6X, <= 0.7X, the rewards will be 116% of users’ gas fee paid
- If Multiplier > 0.7X, <= 0.8X, the rewards will be 114% of users’ gas fee paid
- If Multiplier > 0.8X, <= 0.9X, the rewards will be 112% of users’ gas fee paid
- If Multiplier > 0.9X, <= 1X, the rewards will be 100% of users’ gas fee paid
#Multiplier: Multiplier is infected by the congestion of the network. You can visit this GitHub repo to view the lines of code that determine the multiplier. For more information about transaction fees, visit this documentation（Fee Multiplier part）
To ensure fairness, every address can only participate in one out of the four total incentive program weeks, which means addresses that initiate transactions in week 1 will not be counted in the reward system in following weeks.
Rewards will be distributed on a rolling basis, with rewards being claimed at the end of each week. Unclaimed rewards at the end of each week will be added into the pool of next week. Unclaimed rewards at the end of the four-week campaign will be carried over to future Calamari incentive programs.
Part 2: Score reward
In addition to the Part 1 rewards, we will also have the Manta Shield Score Reward, which is designed to further incentivize users to privatize their tokens and participate in the MantaPay ecosystem. The total reward pool will also be set at 4,000,000 KMA, split equally across the four-week period.
Users will earn a score based on two factors:
- Gas fees paid — dollar value
- To private tokens’ dollar value
The formula for calculating a user’s score is:
UserScore = ([Gas Fees Paid] ^ 0.8) * ([To-Private Value] ^ 0.2)
The top 100 users with the highest scores will be eligible to receive rewards at the end of each week. The top 6 users will receive 80,000 KMA each, and users ranked 7th through 100th will receive 5531.91488 KMA each.
Reward Vesting Schedule
After the conclusion of the four-week campaign, there will be a 7-day notice period to address any potential concerns regarding the accumulated rewards. The rewards will be distributed to the eligible participants 48 hours after the public notice period ends.
About Manta Network
Manta Network is the zk layer 1 blockchain with the fastest prover speed and most decentralized trusted setup that brings programmable privacy to web3. Its suite of core products and technologies, including zkNFTs and MantaPay, offers user-friendly access to powerful ZK-enabled use cases.
The project is created by a team of experienced founders from prestigious institutions, including Harvard, MIT, and Algorand. The team began its research on Zero Knowledge Proof in 2019 during a cross-border payment research project under the MIT Digital Currency Initiative with the Monetary Authority of Singapore. Manta Network has received investments from many of the top web3 investment funds, including Binance Labs and Polychain Capital. It has grown through participation in the best web3 accelerators, including Alliance DAO and Berkeley Blockchain Xcelerator. Manta Network is poised to bring the next generation of web3 users and usher in a new chapter of privacy-focused web3 applications.
About Calamari Network
Calamari Network is Manta Network’s canary network, which is deployed as a layer 1 network leveraging Substrate to connect to the entire Kusama ecosystem. Calamari Network offers on-chain privacy using zero-knowledge proofs with its flagship protocol, MantaPay on Calamari. MantaPay on Calamari allows users within the Kusama ecosystem to transact any Substrate-based cryptocurrencies in a privacy-preserving manner.