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MANTIS Games

In order to bootstrap liquidity on the restaking layer on Solana, there will be a team competion in phase 2 of MANTIS Games. The MANTIS Games involve the following phases, all designed to make participation maximally enjoyable and rewarding:

Phase 1 - NFT Auction​

Phase 1 introduces teams: during the course of MANTIS games, users can register to join a team on the MANTIS app. Along with your team, you will be able to participate in various competitions on MANTIS.

In the first phase, NFTs were auctioned on the Tensor marketplace to serve as a mechanism for team leaders to create teams and compete within the Mantis platform. Only NFT holders can be team leaders who will receive 15% of rewards from their team, along with a 1.25x boost for their own deposits. If you are in the winning team, you will get the largest stake of reward in a given rewards pool. Moreover, purchasers of the NFT will get a percentage of the NFT sale. The collection can be viewed here.

Users without an NFT can join an existing team by getting a referral code from a team leader. You’ll still be eligible for boosted rewards if your team wins. The remaining 85% of the rewards will be distributed according to the percentage of the TVL that each group member contributed to his team’s total TVL.

Phase 2 - Team Staking Competition​

Phase 2 is going live on Sunday the 28th of January. Teams will compete for who can attract the highest amount of assets restaked into the restaking layer via the MANTIS app (restaked assets include mSOL, jitoSOL, bSOL and SOL). In this phase, there will be three rounds of deposits with caps on the amount of tokens that can be deposited in the vaults.

The parameters will be set in the following three rounds:

  • Round 1: 50,000 SOL
  • Round 2: 150,000 SOL
  • Round 3: 500,000 SOL

Rewards​

There will be 35,000,000 PICA allocated to reward vault participants. Once the Solana IBC connection launches, restaked assets will be allocated to validators and users begin accruing staking rewards in the form of transfer revenue.

The team that wins the competition, will receive 80% of transfer revenue for the first 30 days of activity on the Solana IBC bridge.

The Restaking Vaults feature a reward pool of 35 million PICA tokens. Notably, 20% of this pool, will be distributed during the Token Generation Event (TGE) of PICA on Solana coinciding with the launch of IBC on Solana. The remaining 80% will be vested evenly over a 3-month period following the conclusion of the team competition.

It’s essential that users are aware of the implications of entering the vaults and ramifications on their rewards, should they choose to unstake before rewards have fully vested. During the MANTIS Games Competition (restaking vaults), user assets will be locked within the contracts until the launch of Solana IBC.

Once IBC on Solana is launched, users will be able to unstake their assets, but their rewards will be penalized under the following conditions:

  • If a user decides to unstake some percentage of SOL before the end of the vesting period, they will forfeit a corresponding percentage of their rewards. E.g. If a user decides to unstake 10% of their SOL holdings in the first month, they will forfeit 10% of the remaining vested rewards scheduled for the second and third months
  • Complete early unstaking results in forfeiture of all rewards except the initial 20% received at the launch of Solana IBC.