Salam,
Example:
You bridge 1 ETH (erc20) > You will receive: 1 STONE + Yield + Boxes
With StakeStone, users can deposit ETH to receive STONE(Stone Ether) on Manta Pacific, which is a yield-bearing token that earns its yield from staking native ETH on L1
After 69 days of MANTA token rewards distributed, you can withdraw ETH and USDC back from STONE and wUSDM.
This means that somewhere in march 2024 (phase 3) users will be able to swap their STONE or USDC to their initial value bridged (1 ETH = 1 STONE / 1 USDC = 1 wUSDM). Plus on top of they get eligibility for airdrop.
The more ETH and USDC you bridge the more box pieces you will generate and those can be used to make boxes. When you open boxes you receive NFTs (You can keep the NFTs for the $MANTA airdrop, or you sell them on marketplaces).
Highly recommend visiting this for more info about the quote Source : New Paradigm
Conclusion:
after 3 months of bridging 1 ETH , i receive 1 ETH (Provided that i do not sell STONE) back along with some random NFTs of different value (i still get NFTs even if i sell my STONE).
What are lucky boxes ? check this Lucky Boxes Available Now: The Amazing NFT Rewards on New Paradigm | by Manta Network | Dec, 2023 | Medium a post by manta network foundation.
- Base reward: 30,000,000 $MANTA, which will be split across holders of 6 Manta NFTs
- Special Reward: 15,000,000 $MANTA for holders of the First Modular L2 NFT (which can minted by combining 6 different Manta NFTs)
Far as im concerned there is no RIBA involved as there is no borrower / lender and all assets liquid inside the Manta network, as for the NFTs you receive they are minted (created/printed) and sent to me as i sign the contract (for minting).
Concern 1 : (Gharar)
Everyone has a chance of obtaining a Frenzy Growth Lucky Boxes. The initial probability is 1%. With each unsuccessful growth, your Frenzy probability will rise by 5%. Elevate your Frenzy Growth even further by achieving team contribution and climbing the Leaderboard Rank. Every time you obtain a Frenzy Growth Lucky Box, your probability is reset to 1%.
Concern 2 : (Not sure if this is Gharar)
Receiving one of the 6 random NFTs with differing value each time you open .
Conclusion2:
If I sell my STONE for the specified rate of 1 STONE = 0.9332 ETH, I will receive 0.9332 ETH along with the added benefits of receiving free random NFTs. On the other hand, the buyer of my STONE will only receive some ETH at a lower cost, which will unlock in march 2024 and he won’t get random NFTs from it (cause he didnt initiate the bridging of the ETH to STONE).
Concern 3 :
is “STONE” concept permissible? (liquid inside manta network but can only be withdrawn to main net march 2024) 1 STONE = 0.9332 ETH value (On manta network currently as of 1/3/2024) which i suppose price will continue to rise as unlocks become nearer. and is it riba if i decide liquidate some STONE (liquid staked eth) for a loss?
Thank you for your time. if you need more info you can reply to this.