Mensa Protocol is coming to Fantom!
Mensa Protocol remains driven in our goal to bring capital efficiency to long-tail assets on multiple blockchains. Our integration with Fantom means faster transactions, lower gas fees, and access to different markets for our users.
4 Things You Need to Know
- We are excited to announce that Mensa Protocol will be launching on Fantom on 9th August.
- Website: https://www.mensapro.com/
- MENSA token rewards will be live at launch.
- LP Farming will be live within 12 hours after the implementation of contracts.
Mensa Protocol will be launching on Fantom on 9th August.
At launch, users will be able to deposit and borrow tokens on the following markets: FTM, wBTC, wETH, CRV, USDC, DAI, fUSDT.
Users can obtain token MENSA as rewards by depositing and borrowing on Mensa Protocol.
USDC/MENSA -SpiritSwap-LP will be activated within 12 hours after the implementation of contracts.
“Short-term capital tax” Mechanism
Users have a 1-month lock-in period for mining rewards. Users can unlock in advance, but they must bear a “short-term capital tax” of 25% of the mining rewards when reaping the rewards. After the normal 1-month lock-up period, users can get 100% mining rewards. The lock-up period will be recalculated each deposit & borrow or claim.
All taxes will be distributed to users whose MENSA token are still locked, as rewards for long-term currency holders.
MENSA tokens are issued through a fair launch mechanism.
The maximum supply of MENSA tokens will be 200 million (200,000,000).
· 24% deposit & borrow pool rewards: Continuously issued to users who deposit & borrow from Mensa Protocol. 6% of the daily rewards are allocated to depositors, 18% to borrowers. The release will be completed in 4 years.
· 25% liquidity pools rewards: Continuously minted to liquidity providers of SpiritSwap USDC-MENSA trading pair and future liquidity pool. The release will be completed in 4 years.
· 20% early investors + consultants: Lock-up for 3 years.
· 25% team/development fund: Lock-up for 1 year, then continuously vested for the second year, the release will be completed in 3 years.
· 6% initial liquidity/marketing/bounties: Set aside for providing initial liquidity and other marketing/promotion needs.