Announcing the vMANTA 2.0 Migration & Upgrade: Key Dates & What to Expect

In response to an upgrade in the MantaNetwork staking mechanism, staking rewards on the Manta-Atlantic network will be gradually phased out and transitioned to a new Ethereum-based staking model. This move aims to enhance the long-term stability and sustainability of yields for users.

Migration Timeline & Key Events

**October 22: Redeeming Staked $MANTA on Manta-Atlantic ** All staked $MANTA tokens on the Manta-Atlantic network will be redeemed. This process is estimated to take 7 to 8 days. During this period, vMANTA yield distribution will be paused to ensure a smooth transition.

October 27: Deployment of vMANTA Vault on Ethereum The new vMANTA Vault contract will be deployed on the Ethereum network, marking a major milestone in our upgrade process.

**October 29: Suspension of Minting & Redemption on Bifrost, Manta Pacific, and Moonbeam ** To facilitate the migration, minting and redemption activities on these platforms will be temporarily suspended.

**October 30: Migration of Staking & Reserves ** We will migrate all MANTA staking and reserves to the new system. During this phase, cross-chain functionality will be temporarily disabled to ensure data integrity and security.

**October 31: Closure of Cross-Chain Routes ** All MANTA cross-chain routes between parachains will be closed, except for the Bifrost to Ethereum channel via Hyperbridge, which will remain operational to facilitate seamless transfers.

**November 5: Launch of vMANTA 2.0 ** The upgraded vMANTA 2.0 will go live, with minting and redemption fully operational on both Bifrost and Ethereumnetworks.

What Does This Mean for Users?

This upgrade is designed to provide a more stable and sustainable yield mechanism, leveraging Ethereum’s security and scalability. Users will benefit from:

• Improved yield stability
• Enhanced security features
• Continued seamless cross-chain interactions via Hyperbridge
• Future-proofed staking infrastructure

The upgrade signifies a strategic shift to align with the latest developments in the MantaNetwork ecosystem, promising a more resilient and robust staking experience for all participants.