Bondly’s New Partnership with MANTRA DAO to Reward $OM Holders.
Bondly (Bondly.Finance), a crypto-enabled e-commerce platform that aims to unlock $4 trillion of latent value in the Next Generation Digital Economy, is proud to confirm our partnership today with MANTRA DAO.
At Bondly, we’re excited to reveal further details about our plan to reward $OM token holders that are staking on the MANTRA DAO platform.
This partnership further accelerates Bondly’s vision for an ambitious new protocol that will provide interoperable DeFi tools for over-the-counter (OTC) exchanges and the digital marketplaces of the future.
In our partnership announcement with MANTRA DAO we hinted at our $BOND rewards program. Today, we want to further clarify this rewards program for MANTRA DAO community members.
Rules And Qualification and Calculation:
- The First Snapshot Will Take Place Exclusively For OM Stakers On The MANTRA DAO Native Token Staking Platform on October 15th 00:00 UTC.
- During The Period Between October 15th And November 30th, Additional Random Snapshots Will Be Taken To Calculate Your Rewards Amount.
- Snapshots Will Be Taken On A Weekly Basis And Your Weighted Average of $OM Tokens Staked Per Week Will be Calculated.
Example: If You Have 100 OM Staked in Weeks 1–5, And Nothing Staked In Week 6, Your Weighted Average Would be (100*5)/6 = 83.33. You Will Receive $BOND Equal To Your Overall Proportion Of The Total Staking Pool For The Time Period.
Rewards Distribution Period:
After the Snapshot Period (October 15th — November 30th), Bondly (Bondly.Finance), in partnership with MANTRA DAO, will reward poolers with a total of 1 million Bondly Tokens ($BOND), distributed in 4 reward drops over the course of the month of December. As Bondly’s CEO Smith stated earlier this week,
“We are excited to provide Bondly’s native asset to $OM stakers as we feel this group understands the importance of the Polkadot ecosystem and understands that DeFi only gets bigger if we invite more of the financial economy to join us.”
The Bondly Rewards schedule is approximated as follows:
1st Reward Drop — December 7th, 2020
(250,000 Bond)
2nd Reward Drop — December 14th, 2020
(250,000 Bond)
3rd Reward Drop — December 21st, 2020
(250,000 Bond)
4th Reward Drop — December 28th, 2020
(250,000 Bond)
For further information about Bondly’s Partnership with MANTRA DAO please visit the press release here.
About Bondly
Bondly is an interoperable, transparent, and portable swap protocol designed to revolutionize traditional escrow methods and make everyone into their own digital marketplace. Our family of trust-enabling DeFi products are designed to be a part of everyday buying and selling activities, giving peace of mind for swap or online purchases. Our product BProtect is a DeFi enabled eCommerce gateway specializing in integrating into your favorite online marketplaces very simply and easily with no integration fees, just staking tokens.
Website | Whitepaper | Telegram | Medium | Twitter | LinkedIn
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 creates 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.
Website | Whitepaper | Telegram | Medium | Twitter | LinkedIn
