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MNTS & veMNTS
$MNTS is the native token of MantisSwap and has multiple use cases like governance voting, reward for providing liquidity and boosting these rewards.
Users can earn MNTS tokens by depositing their stablecoin and pegged assets on MantisSwap and earning liquidity mining rewards. These rewards can be increased by holding veMNTS.
The rewards share for a user depends on both the liquidity deposited and veMNTS balance of the user. It is given by the following equation -
Total MNTS Supply: 500,000,000
User can deposit Mantis BPT (Balancer Pool Token from 80-20 MNTS-WETH pool) tokens to earn veMNTS tokens for boosted pool rewards. veMNTS is non-transferable.
- 1 staked BPT generates 0.0114 veMNTS every hour initially.
- The veMNTS rate decreases with time t (in days) according to following function:
- After 730 days = 2 years, the veMNTS mine rate will go to 0 and user will not earn veMNTS anymore.
- The rate is updated (decreased) everytime the user claims veMNTS. Thus, the user can opt to not claim so as to to get higher potential veMNTS. However, he will also miss out on the boosted pool rewards.
- When a user locks more BPT, his reward rate is updated according to the weighted average of the amount already staked and the new amount. This is given by -
- Upon unstaking BPT, veMNTS drops to 0