MILC Platform Announces 2 Staking Programs on MANTRA DAO
To further motivate and reward our long-term supporters, MILC platform is launching a couple of staking events on a well-established staking platform, and our launchpad platform, MANTRA DAO.
We are launching 2 staking programs:
A) BNB/MLT LP token staking program
B) Pure BEP-20 MLT token staking program
A) BNB/MLT LP token staking program
This staking program will help in bootstrapping $MLT token liquidity in the BNB/MLT pair on Pancakeswap. A total of 880,000 $MLT tokens will be given out as rewards to LP token stakers for the first month.
To take advantage of this opportunity, here is the step-by-step guide:
- Go to BNB/MLT pool on Pancakeswap and Connect your wallet
BNB/MLT pool link: https://exchange.pancakeswap.finance/#/add/BNB/0x4518231a8FDF6ac553B9BBD51Bbb86825B583263
There are various ways to connect to Pancakeswap, for this tutorial we will use Metamask.
2. Approve MLT in BNB/MLT pool
Once you have connected your wallet, insert the amount you want to provide liquidity with. Note, You will need to approve MLT first in order to interact with Pancakeswap.
Click on “Approve MLT” and confirm the transaction on Metamask.
Once confirmed, click on “Supply” which will create a confirmation pop-up (next step).
3. Provide liquidity in BNB/MLT pool
Read the details on the pop-up, and click on “Confirm Supply” afterwards in order to provide liquidity in BNB/MLT pool. You will receive LP tokens in return (as shown in the image above, i.e. 19.611 LP tokens).
3. Go to MANTRA DAO Website
Next Step is to go to https://app.mantradao.com/staking and connect your wallet with it.
Afterwards, search for MLT/BNB pool in there and insert the LP tokens you want to stake and click on “Next”.
4. Stake the LP token you received to earn $MLT token rewards
Next page will be a confirmation page. Read what is written and click on “Stake Now” to confirm the transaction on Metamask.
5. Confirm the transaction on Connected Wallet
Once you confirm the transaction on connected wallet (in this case Metamask), you will receive a transaction hash which will show status of transaction and other details.
Congratulations! Your LP tokens are staked now and you will earn $MLT tokens on it on daily basis.
A total of an equivalent of 10,560,000 MLT would be needed to be staked to achieve a 100% APR for the LP pool.
Liquidity pools comes with a risk of “Impermanent Loss”. Usually swap fees and block rewards cover up the loss and gives profit to users. But please take this fact in consideration.
B) Pure BEP-20 token staking program
For those who want to have 100% exposure to $MLT price movements but still want to earn more rewards, this program is for you.
A pure BEP-20 $MLT token staking program is also going live. A total of 586,666.4 MLT will be distributed as rewards for the first month
To take advantage of this opportunity, here is the step-by-step guide:
- Go to MANTRA DAO Website
First step is to go to https://app.mantradao.com/staking and look for MLT staking pool. Once selected, insert the BEP-20 MLT tokens you want to stake in the right section of the page. Click on “Next” afterwards.
2. Read & Confirm the Transaction
On the next page, you will see all the details of the staking program. Read it once and then click on “Stake Now” to confirm the transaction on the wallet you are connected with (in this case, Metamask).
3. Congratulations, Your MLT is staked!
Once confirmed, you will be given a transaction hash to see status of the transaction and other relevant details.
Congratulations! Your BEP-20 MLT is also staked on the MantraDAO platform now.
A total of 7,039,996.8 MLT would be needed to be staked in the naked staking pool to achieve 100% APR.
NOTE:
In both the above staking programs, rewards are accrued over time and are claimable on the claim pages.
A user can unstake anytime. There is a 8 day unlock period on unstaking. Instant unstaking will cost a 2% charge.
ETH/MLT liquidity mining program is coming soon on Uniswap. Stay tuned for that! We look forward to seeing your participation in the newly launched staking programs.
ABOUT MILC
MILC platform aims to provide the industry with an open new marketplace for every professional and non-professional content provider and buyer that incorporates cutting-edge broadcast, blockchain and AI-technology which can become a game changer for the entire media content industry. It solves four fundamentally important challenges of the global media industry: Global availability, Discovery process for Buyers, Complex licensing and Early feedback from viewers. MILC has been developed by Welt der Wunder, a media brand with 25 years experience in the business.
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