Manta Network's vMANTA Migration: Enhanced Staking and Faster Unstaking on Ethereum Mainnet

The Manta Network ecosystem is constantly evolving to provide users with a more efficient, stable, and rewarding staking experience. In a significant development, Manta Network has successfully upgraded its staking mechanism to the Ethereum mainnet. This migration of vMANTA (Manta’s liquid staking token) is a crucial step towards long-term stability and continuous yield generation for all participants.

This update, spearheaded by Bifrost, ensures a seamless transition and introduces several key improvements that will benefit the entire Manta community.

Why This Migration? The Advantages of an Ethereum Mainnet Upgrade

The core reason behind this migration is to leverage the robust security and established infrastructure of the Ethereum mainnet. By moving vMANTA staking operations to L1, Manta Network aims to achieve:

• Enhanced Stability: Utilizing Ethereum’s battle-tested consensus mechanism provides a higher degree of security and reliability for staking operations.
• Yield Continuity: Ensuring that users can continue to earn yields on their staked assets without interruption.
• Improved Transaction Finality: DeFi transactions related to vMANTA will now be finalized on Ethereum, leading to greater certainty and speed compared to cross-chain finalizations.

What’s New with vMANTA?

The migration brings forth exciting changes for vMANTA holders:

• Faster Unstaking Periods: One of the most significant improvements is the reduction in unstaking time. Previously, unstaking vMANTA took 7 days. Now, users can expect unstaking periods to be reduced to 0-3 days. This provides much greater liquidity and flexibility for users who may need to access their underlying assets more quickly.
• Streamlined DeFi Integration: With vMANTA transactions being finalized on Ethereum, integrating vMANTA into various DeFi protocols on L1 will become more efficient and reliable.

Key Changes and How to Adapt

As part of this migration plan, there are a few important operational changes to be aware of:

• vMANTA Minting and Redeeming on Manta Pacific Disabled: To facilitate the transition, the ability to mint and redeem vMANA directly on the Manta Pacific network has been disabled. This is a temporary measure during the migration phase.
• Accessing Your vMANTA Balance:

  • You can view your vMANTA balance by connecting to the Manta Pacific network through OmniLS.

  • Alternatively, you can add the vMANTA contract address directly to your wallet: 0x7746ef546d562b443ae4b4145541a3b1a3d75717

    

Bridging Your vMANTA: A Step-by-Step Guide

For users who need to move their vMANTA from Manta Pacific to Bifrost or Ethereum, a clear bridging process has been established:

1. Manta Pacific → Moonbeam: Utilize Stargate Finance for this cross-chain transfer.

2. Moonbeam → Bifrost: Use the Bifrost cross-chain bridge for this leg of the journey.

3. Bifrost → Ethereum: Finally, bridge your vMANTA from Bifrost to the Ethereum mainnet using the Bifrost cross-chain bridge.

   

How to Unstake vMANTA Post-Migration

Unstaking your vMANTA is now more efficient:

• On Bifrost: Navigate to the vMANTA staking section on Bifrost.

• On Ethereum (via OmniLS): For unstaking directly on Ethereum, use OmniLS.

  

This vMANTA migration marks a significant milestone for Manta Network, bringing enhanced staking capabilities and improved user experience. By leveraging the power of the Ethereum mainnet, Manta Network is solidifying its position as a leading platform for secure, efficient, and rewarding liquid staking. Stay tuned for further updates and developments as the Manta ecosystem continues to grow!