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How Liquid Staking Works
The redemption rate mechanic, staking flow, validator delegation, and unstaking process explained.
The Exchange Mechanic
stMANTRA uses a non-rebasing redemption rate model. When you deposit MANTRA, you receive an amount of stMANTRA calculated by the redemption rate at the time of your deposit. Over time, the redemption rate increases as staking rewards accumulate — so each stMANTRA becomes redeemable for more MANTRA than when you deposited.
You don't receive daily reward payments. Instead, the redemption value of your stMANTRA, denominated in MANTRA, grows continuously.
Example:
- Day 0: 1 stMANTRA = 1 MANTRA (launch rate)
- Day 365: 1 stMANTRA = 1.08 MANTRA (after ~8% APY)
Step-by-Step Flow
User deposits $MANTRA
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Fluxtra smart contract receives $MANTRA
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$MANTRA is delegated to MANTRA Chain validators
↓
User receives $stMANTRA (at current redemption rate)
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Staking rewards accumulate → redemption rate increases
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User unstakes → $stMANTRA burned → $MANTRA returned (at new, higher redemption rate)Staking Rewards
Rewards come from MANTRA Chain's Proof of Stake consensus. Validators earn fees and newly minted MANTRA for securing the network. Fluxtra aggregates these rewards and compounds them into the stMANTRA redemption rate.
The reward rate varies based on:
- Total MANTRA staked on the network
- Network transaction volume (fee revenue)
- Validator commission rates
- Protocol governance proposals, especially ones that affect the staking emissions rate
Unstaking and the Unbonding Period
When you unstake, your stMANTRA is burned and your MANTRA enters an unbonding period — the standard unbonding window for MANTRA Chain is currently 8 days. Depending on the timing of the protocol's cron job that initiates unbonding, the total wait can extend to as long as 9 days before your MANTRA is claimable. During unbonding, your MANTRA does not earn rewards.
Once unbonding completes, you claim your MANTRA plus all rewards that accrued while staked.
Note: You can sell stMANTRA on the open market at any time if you want immediate liquidity without waiting for unbonding. But this secondary market pricing is distinct from the redemption rate you would receive after the unbonding period.
Validator Selection
Fluxtra delegates all staked MANTRA to the OMies v2 validator. The OMies v2 validator charges a 4% commission, which routes entirely to the OMies community treasury. This arrangement reflects Fluxtra's alignment with MANTRA Chain's core community layer.
Smart Contract Architecture
Liquid staking is governed by non-custodial smart contracts on MANTRA Chain EVM. You retain beneficial ownership of your staked assets at all times. The protocol does not hold admin keys that could unilaterally withdraw user funds.
Fluxtra's liquid staking module is deployed as an upgradeable proxy. The stMANTRA token contract is the proxy — users call this address to stake, unstake, and hold stMANTRA balance. The proxy delegates all execution to the StakingVault implementation, which contains the staking logic.
- stMANTRA (Proxy):
0x4131a80b67BE287627766B858C3C6d7f9e900324— user-facing address for all liquid staking actions and for stMANTRA balance - StakingVault (Implementation):
0x17507e666321E9c75b3Fd0eC040dd26DE1E90aed— logic contract behind the proxy