Proposal - 1M MANTA Liquidity for MANTA Staking

Introduction

This proposal seeks to allocate 1 million MANTA tokens to enhance liquid staking of MANTA on-chain through BiFrost’s vMANTA and establish a stable MANTA/vMANTA pool on the QuickSwap DEX. This initiative aims to support and maintain a pair for liquid staking tokens like vMANTA.

Enhancing liquid staking on Manta Network benefits both users and the overall network. Traditional staking involves locking up MANTA for a set period, limiting the flexibility for users who may want to utilize MANTA for other purposes such as providing liquidity on a DEX or borrowing against this capital.

About QuickSwap

QuickSwap is the leading DEX on all Polygon chains and is currently built on Manta Pacific, Polygon PoS, Polygon zkEVM, X Layer, Immutable zkEVM, Astar zkEVM, and Dogechain. The DEX reached a peak TVL (Total Value Locked) of $20 million and amassed hundreds of millions in total volume since launch.

Trade, LP, and farm with popular tokens on Manta Pacific via QuickSwap, such as MANTA, vMANTA, STONE, wUSDM, ETH, USDT, USDC, and much more!

Motive

The motive behind this proposal is to drive further adoption and liquidity for MANTA/vMANTA, leveraging QuickSwap’s strong community and user base. Reducing impermanent loss, deepening liquidity for more seamless trades, and providing greater utility for the MANTA token will be key to continuing to help Manta Pacific flourish.

BiFrost

BiFrost offers liquid staking of MANTA through vMANTA. It has played a significant role in supporting Manta Network’s liquidity, with $4.19 million in TVL on its liquid staking platform for Manta Network.

Users can stake their MANTA directly on Manta Pacific via omni.ls on BiFrost. After receiving vMANTA on Pacific, users can provide liquidity in the MANTA/vMANTA pool on a DEX to earn rewards.

Conclusion

Seeding liquidity for this pair on the QuickSwap DEX would attract more MANTA token holders to supply liquidity and earn rewards on Manta Pacific. A win-win for both ecosystems, driving the future of DeFi on Manta Pacific via QuickSwap.

Voting

This proposal is now live on Manta Forum for community feedback and will be pushed for voting soon.

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