New Enhanced $OM Delegator Rewards Kicks Off with Cosmos ATOM!
With our enhanced delegators rewards update, MANTRA DAO is now the clear favorite to pick for delegators!
What many of even our top Sherpas might not be aware of is that MANTRA DAO has a very robust validator ecosystem! The number of validator nodes that MANTRA DAO is currently hosting is 25 unique blockchains with over 250 Million Dollars assets under delegation (AUD)!
However with so many validator nodes to choose from, many of those looking to delegate their assets have a hard time deciding which node to delegate to.
With our upgraded delegator program and new UI, delegators now have a clear favorite to pick when looking for nodes because now you will be able to earn OM on top of your delegator rewards all though our easy to use app & user interface starting with Cosmos ATOM!
How do Delegator Rewards Work?
MANTRA DAO indexers gather information about your delegations on the MANTRA DAO delegated to.
Once a month, a reward bucket will be able to be claimed by the linked and delegating participants of the month. Participants have two options with their rewards, 20% immediate claim (sacrifice 80%), or a 100% reward claim after a specified time period of locking.
To kick off our new Cosmos ATOM delegator rewards, we are allocating 700,000 OM per month for the first month which started from Dec. 1st 2021 as announced in our previous validator update announcement here.
The reward pool is allocated based on how long you delegated to MANTRA DAO’s nodes throughout each month.
How to Earn Delegator Rewards
- Have a Cosmos Wallet
- Have a Binance Smart Chain Compatible Wallet
- Be actively delegating the MANTRA DAO Cosmos validator node
- Fractional amounts BNB & ATOM assets to complete the linking process
Any Cosmos wallet can be used to delegate to the MANTRA DAO node. For this example, we will be using the Keplr wallet.
On your Cosmos wallet staking page, find the MANTRA DAO node or find it here.
TO stake your ATOM, choose the amount you want to stake and click “Delegate”.
Then click “approve” to confirm the transaction.
Enhanced Delegator Rewards
Find the Delegator rewards tab on app.mantradao.com & make sure you are on the Binance Smart Chain Network.
Press the ‘Start linking’ button on your chosen delegator rewards asset.
Enter your address on the chosen network that is delegating to a MANTRA DAO validator node.
Click the ‘Link address’ button.
If the linking details are correct, click the ‘Link Addresses button’ to confirm your link.
From the same address that you are linking and that is delegating to the MANTRA DAO node, send the exact amount of the native asset specified. This process helps MANTRA DAO know you are the controller of this wallet.
With your wallet set to the Binance Smart Chain network, complete the final linking transaction, this final link will help you get your OM rewards later.
Congratulations, you are linked!
Check back in roughly a month to see your OM rewards and begin the withdraw process.
About MANTRA DAO
MANTRA DAO is a community-governed DeFi platform focused on Staking, Lending, and Governance. It gives financial control back to the people, so that they may store and grow their wealth together. The MANTRA DAO team aims to leverage crowd wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Initially built on Substrate as a Polkadot first project, it now also offers its services on Ethereum, Binance Smart Chain, and Polygon.