Why be friends when you can be friends with benefits?
With the Polkadot crowdloans entering the first batch of auctions, the action is starting to heat up. At Manta Network, we have been trying to push the needle forward, while also listening to the feedback from our community. This was why we announced a recent upgrade to our crowdloan rewards, which unlocked the full 15.6% of crowdloan allocation.
That announcement was met with a great community response, not just in our Twitter comments, but also through all of the new support we received in our crowdloan. Within 24 hours of announcing the upgraded rewards, we had received 3x the amount of DOT contributions through PolkadotJS.
But we’re just beginning. Many people have reached out asking about referral programs. We had done a referral program with Calamari, and it was very successful. So many people received amazing bonuses, and it was a win-win situation for everyone. We’re bringing this to the Manta Network crowdloan as well to allow people to collectively reap the benefits of spreading the news about Manta Network’s crowdloan.
The Manta Network Referral Program
Starting immediately, you can snatch your referral code from the Manta Network Crowdloan Website. Yes, we now have our own dedicated crowdloan page as well!
At the top of the Crowdloan page, you can click on My referral link. That will immediately copy your referral code URL to your clipboard, where you can share it with anyone and everyone. When your friend (or stranger you DMed) clicks on your link, they will come straight to our crowdloan website.
The field for Enter your referral code will be automatically populated with your referral code. All they have to do is connect to their Polkadot JS wallet, and select the amount they want to contribute (we have that MAX button for your convenience ). As the amount is filled in, they should see the estimated rewards populate, along with the estimated referral rewards. Next, just click Contribute, and the two of you are all set!
How Referral Rewards Work
Much like the rest of the rewards, the referral rewards pull from the pool of 15% MANTA crowdloan rewards (the 0.6% is reserved for Binance contributors for the Early Bird event). Here are some of the key things to know about our referral system:
- Each referral rewards 5% extra MANTA. That 5% is split between the referrer (2.5%) and the referred (2.5%).
- When using a referral code, the referral bonus applies to the entire amount you’ve contributed through that wallet address. This means that if you participated in the early bird event previously, you can take a contribute another amount of DOT using a referral code, and that bonus will also be applied to your rewards from the early bird event.
- The 5% referral calculation does not include any early bird or other bonuses — only the base reward and MantaPay Liquidity Event reward.
- The MantaPay Liquidity Event reward’s referral bonus will release with the MantaPay Liquidity Event rewards. This means that, to get those rewards, you must participate in the MantaPay Liquidity Event.
- No, you cannot refer yourself.
- To be a referrer, you must have contributed to the Manta Network crowdloan.
- Anyone who has contributed to the Manta Network crowdloan at any point in time in a decentralized manner (e.g., using PolkadotJS) can use their referral codes through Manta Network’s portal.
- Anyone who contributed in a centralized manner or semi-decentralized manner (e.g., through exchanges or our partners) will need to make a minimum contribution through PolkadotJS to activate their referral rewards. This is because we use on-chain data from the crowdloan directly to count referrals.
We hope you enjoy this new system that we have implemented to help users with earning even more rewards through the Manta Network crowdloan. Together, we can get Manta Network a parachain this batch, and set the foundation for privacy on Polkadot at its earliest stage!
The Bonus NFT
As an added bonus, anyone who receives the referral bonus (including the referrer) will receive an exclusive Manta Network NFT titled Friends with Benefits.
About Manta Network
Manta Network is the on-chain privacy solution for blockchain assets built from the first principle. In the short term, Manta will be a product that enables high-performance private DeFi transactions, such as FT/NFT transfer and AMM-styled swap. In the long term, Manta will be the platform for privacy-preserving blockchain applications.
Manta’s founding team comprises many US cryptocurrency veterans, professors, and scholars whose experience includes Harvard, MIT, and Algorand. The advisors of Manta include Hypersphere Ventures co-founder Jack Platts, Polychain partner Tekin Salimi, former Web3 Foundation co-founder Ashley Tyson, and Consensys’ Shuyao Kong. Manta has previously completed a million-dollar seed round of financing led by Polychain and participated by Three Arrows Capital, Multicoin, Alameda, and Hypersphere. Manta is also a grant fund recipient of Polkadot’s official Web3 Foundation. Manta also is an outstanding member of the Substrate Builder Program and the Blockchain Accelerator of the University of Berkeley.