Staking Mantra (OM) is your chance to get involved in a cutting-edge blockchain that prioritises security and real-world regulatory compliance. Mantra is built on the Cosmos SDK and offers a robust, scalable infrastructure for decentralised applications.
The OM token is at the heart of this ecosystem, which plays a vital role in governance and staking. By holding and staking OM, you gain voting rights, allowing you to shape the platform’s future through governance proposals. Plus, you can earn rewards for your participation.
Ready to dive into staking and become part of the Mantra community? Let’s explore how you can stake your OM tokens and contribute to the platform’s evolution.
How To Stake Mantra (OM)?
Staking your OM tokens is an excellent way to earn passive rewards while engaging in the governance of the Mantra ecosystem. The process is simple, but you must follow a few key steps to ensure everything goes smoothly. Let’s break down the process into manageable steps to get you started on staking your OM tokens.
Access The Mantra Staking Platform
To begin staking, the first step is visiting the official Mantra Staking platform. Ensure you are on the correct website to avoid scams or phishing attempts. Once there, you’ll see various options, but your primary focus will be on the staking section. Bookmark the page for future use to make accessing it easier later.
Complete Sign-Up And KYC
Next, you need to create an account. Sign up using your email address and go through the Know Your Customer (KYC) verification process. Completing KYC is essential for regulatory reasons and to keep the platform secure. Although it may feel like an extra step, this process protects users from fraud and ensures that Mantra complies with global regulations. Once your KYC is approved, you’ll gain full access to the staking features.
Navigate To The Staking Section
After logging in, head straight to the staking section. Here, you’ll need to choose the network where you want to stake your OM tokens. Mantra supports multiple networks, so select the one that best suits your needs. You will also need to connect your wallet to the staking platform, ensuring it is compatible with the chosen network. Wallet options like MetaMask or Ledger are often used for this step.
Choose Your Staking Amount
Once your wallet is connected, you’ll need to decide how many OM tokens to stake. You can either input a specific number or choose a percentage of your total OM holdings. Whether you stake a small or large amount, ensure that it fits your overall investment strategy. Remember, staking locks your tokens for a certain period, so don’t stake more than you are comfortable locking away.
Review And Confirm Your Staking
Before finalising your stake, carefully review all the details. Make sure the amount of OM tokens you plan to stake is correct and double-check the staking duration. This is a crucial step since staking durations affect your rewards. Once you’ve verified everything, click on “Stake Now” to complete the process.
Start Earning Rewards
Once your transaction is confirmed, your OM tokens are officially staked. Now, you can sit back and start earning rewards. The amount and duration of your stake determine how much you’ll earn. Besides rewards, staking OM gives you the ability to participate in the Mantra ecosystem’s governance. You’ll have the right to vote on proposals and decisions that shape the future of the platform.
By following these steps, staking OM becomes a straightforward way to generate rewards while contributing to the governance of the platform.
Popular Video Guides On Staking Mantra (OM)
Best Places To Stake Mantra (OM)
BTSE is a centralised cryptocurrency exchange operated by BTSE Holdings Limited, established in 2018. It supports trading in over 100 cryptocurrencies, including NFTs and leveraged futures contracts. BTSE enables deposits and withdrawals in 10 fiat currencies and offers both spot and margin trading. With over 99% of users' assets stored in cold wallets, BTSE provides enhanced security for traders. The platform offers various investment solutions, allowing users to earn passive income through staking and other financial products.
Pros:
- No minimum deposit requirements.
- Competitive staking options for high-volume traders.
- Multiple trading platforms, including margin and spot trading.
- Secure cold wallet storage for users’ funds.
- Auto-deleveraging (ADL) prevents negative balances.
Cons:
- High fees for bank transfer deposits and withdrawals.
- Staking benefits are primarily available for large investors.
- Limited customer support options with delayed responses.
Binance is one of the largest cryptocurrency exchanges globally, offering users access to a range of services, including staking, savings, and liquidity farming. Binance Earn, a key feature of the platform, allows investors to earn passive income on their crypto holdings through various financial products. From flexible savings accounts to high-yield staking opportunities, Binance provides diverse investment options that cater to both beginners and experienced crypto enthusiasts. The platform also ensures high liquidity and user-friendly navigation, making it a popular choice for staking.
Pros:
- Offers a broad range of staking products with competitive yields.
- High liquidity ensures more stable yields and reduced risks.
- Seamless fund transfers between different Binance products.
- User-friendly interface, ideal for both beginners and experienced users.
- Supports staking for a wide variety of cryptocurrencies.
Cons:
- Some financial products may be too complex for novice users.
- The high volatility of crypto markets increases investment risks.
- As a centralized platform, it faces regulatory and operational risks.
- No government insurance on assets, increasing default risk.
- Impermanent loss risks exist with liquidity farming products.
Gate.io, founded in 2013, is a globally recognised cryptocurrency exchange that supports buying, selling, and trading over 2,500 digital assets. It also provides a robust staking platform, allowing users to earn passive income by staking a wide range of cryptocurrencies. The platform supports flexible and locked staking options, giving users the choice to tailor their staking strategies. Gate.io also offers competitive yields, helping users maximise their crypto holdings while maintaining a transparent Proof of Reserves (PoR) system.
Pros:
- Wide range of staking options for various cryptocurrencies.
- Flexible and locked staking with competitive yields.
- Proof of Reserves ensures transparency and asset backing.
- User-friendly platform with easy staking management.
- Offers staking bonuses through its native token, GateToken (GT).
Cons:
- No fiat currency withdrawals limit liquidity options.
- Some staking options may require long lock-up periods.
- The platform operates mainly in an unregulated environment.
- Limited customer support compared to larger exchanges.
Benefits Of Staking Mantra (OM)
Staking OM presents a rewarding opportunity for holders to earn passive income while actively participating in the platform’s development. As a multi-chain decentralised finance (DeFi) ecosystem, Mantra allows users to stake their tokens and enjoy a variety of benefits. These benefits include earning rewards, supporting the network, and gaining governance rights. For token holders looking to maximise their returns and engage with the Mantra community, staking offers several key advantages.
Earn Rewards And Passive Income
Staking OM tokens allows you to earn regular rewards, which are typically distributed in the form of additional OM tokens. The reward structure is designed to incentivise long-term commitment, with higher rewards for larger and longer stakes. This creates a reliable passive income stream, which is an excellent way to grow your holdings over time without the need for constant trading or market speculation. By simply staking your OM tokens, you can watch your assets grow while you remain focused on other investment strategies or personal goals.
Active Governance Participation
When you stake Mantra (OM), you gain the power to participate in the governance of the Mantra DAO. This decentralised autonomous organisation allows stakers to vote on critical decisions that shape the platform’s future. Your voice matters when it comes to proposal approvals, platform upgrades, and other vital changes that affect the ecosystem. This governance model ensures that token holders play an active role in the evolution of Mantra, making it more democratic and community-driven.
Contribute To Network Security
By staking OM tokens, you contribute directly to the security and stability of the Mantra network. Staking helps validate transactions and maintain the integrity of the blockchain. The more participants involved in staking, the stronger and more secure the network becomes. This not only benefits individual stakers but also ensures that the entire ecosystem remains trustworthy and efficient.
Flexible Staking Options
Mantra offers flexible staking options that cater to different investment preferences. You can choose how long you wish to stake your tokens and the amount you are comfortable locking up. This flexibility allows you to tailor your staking strategy to maximise rewards while maintaining access to liquidity when needed. Whether you are looking for short-term gains or a long-term commitment, Mantra’s staking system provides options that suit all kinds of investors.
Engage With The Mantra Community
Staking OM tokens opens the door to deeper community engagement. As an active participant, you can take part in community events, access the latest updates, and interact with other stakers within the ecosystem. This engagement enhances your connection to the platform and keeps you informed about upcoming opportunities and developments. Being part of a like-minded community adds value beyond just financial returns.
Frequently Asked Questions
What Is MANTRA (OM) Staking Rewards?
MANTRA (OM) staking rewards are given to OM token holders who support the network by participating in its proof-of-stake mechanism. Stakers earn incentives for their contributions. To stay updated on the latest rewards, use platforms like Bitcompare for real-time price comparisons, alerts, and news related to MANTRA’s developments and market sentiment.
What Is The Timeline For The New OM Staking?
The new OM staking program begins accruing rewards one week after the proposal passes, with a 1.35 multiplier. This continues until two weeks before the MANTRA Chain mainnet launch. Rewards will then be calculated, and distributions will be prepared based on the accrued staking rewards during that period.
Where Will The Reward OM Be Distributed?
Although you can stake OM tokens on any supported EVM chain, your earned OM rewards will be distributed on the MANTRA Chain. This ensures seamless reward collection within the MANTRA ecosystem while offering flexibility for staking across various Ethereum-compatible platforms.
