Magma Mainnet Is Live: The Future of Staking on Monad
🔥 Magma is officially live on Monad Mainnet🔥
Dragonads, the time has finally arrived. After more than 24 months of building, testing, and community collaboration, the wait is over. Magma allows users to stake their $MON, generate yield and earn points while powering DeFi across Monad with $gMON. Let’s dig in.
Stake your $MON HERE for $gMON to start earning staking yield AND points
Token: $gMON
Contract Address: 0x8498312A6B3CbD158bf0c93AbdCF29E6e4F55081
Decimals: 18
Check out the step-for-step tutorial below:
Step 1: Set Up Your Wallet
If you don’t have a wallet, create one with MetaMask, Phantom or another listed provider.
Follow this setup guide if you need help.
Step 2: Connect to Monad
Open the Magma portal: https://www.magmastaking.xyz
Click “CONNECT WALLET” and select MetaMask.
If prompted with “WRONG NETWORK,” select “Switch to Monad” in the dropdown menu.
Step 3: Stake Your $MON
To stake, first go to the stake dashboard and select the amount of $MON you want to stake. To see how much you have, check your wallet or check the dashboard. It will show you the total amount of $MON currently in your wallet that is available for staking.
After clicking stake, wait until the process wheel stops spinning and you will receive a confirmation on your screen informing you that the transaction was successful and $gMON was deposited in your wallet.
Click “here” to add $gMON to your wallet so it is visible upon opening your wallet right away.
Congratulations DragoNad, you have successfully supercharged Monad and received the Magma LST $gMON. You are currently earning yield and points. Sit back and enjoy.
Step 4: Unstake Your $MON
On the dashboard, click “Unstake.”
You’ll see the amount of $gMON available for unstaking, either in your wallet or directly on the dashboard. Enter the amount of $gMON you’d like to unstake and click “Unstake.”
Wait until the progress wheel finishes and a confirmation message appears. Once confirmed, your $MON (plus any yield) will be returned to your wallet. You can choose to hold it, restake it, or use it elsewhere.
What Is Magma?
Magma was one of the first native projects to start building on Monad, pioneering liquid staking from day one. Our mission is simple but powerful:
Empower users with liquidity and yield.
Strengthen Monad with decentralized, community-driven staking.
Scale $gMON everywhere, making it the core building block of Monad DeFi.
Yield and Points
With Mainnet live, Magma will unlock the full potential of staking on Monad:
✅ Live Yield Accrual: Your $gMON accrues staking rewards directly from our high quality validator set.
⚡ MEV Optimization: Magma is going to leverage the fastest block engine in crypto, ensuring fair, efficient, and optimized yield capture. Our MEV will be activated shortly after mainnet.
🎯 Magma Points: Users are already earning Magma points for certain actions with our partners. Putting your $gMON to work by simply staking or using it in DeFi will earn you points. Points recognize early adopters and active contributors, creating long-term alignment between Magma and its users. More on this very soon!
You can track your points here: https://www.magmastaking.xyz/points
🌍 $gMON Everywhere: Magma is committed to driving adoption. Expect to see $gMON integrated across Monad DeFi, making it the foundation of liquidity, lending, trading and so much more.
How will our MEV work?
Our MEV north star is to reduce the number of intermediaries in the MEV process and get as close as possible to having direct communication between searchers and validators. Typical MEV flows can consist of 2-3 intermediary steps between a searcher submitting a transaction and a transaction being included in a block. Reducing the number of steps has practical benefits: with one-second block times, each additional intermediary step in the MEV process increases network latency.
We aim to leverage the latest technologies to create an MEV architecture where searchers can send their transactions directly to validators. In our journey toward this goal, we strive to reduce intermediaries and associated latency in the MEV flow. This approach offers several benefits: it provides searchers with more time to submit their transactions, thereby opening up the MEV space to less sophisticated players for whom speed is not the most critical factor. Additionally, it enhances privacy and reduces the risk of censorship by eliminating intermediaries, thus establishing a direct marketplace between searchers and validators. Lastly, our pillars of MEV design prioritizes users by focusing on privacy, protection from bad MEV, and minimizing latency.
All of this will be powered by the fastest block engine in Web3. We will deploy our MEV dashboard on Mainnet once MEV is live; we are committed to transparency and sharing information for the benefit of improvement.
Security
Magma has completed 4 audits with leading auditors: Halborn, Zellic, Cantina and Zenith. View our audit reports on our GitBook
Why Join Magma?
Staking is no longer about locking away your tokens and waiting. With Magma you can:
Stay Liquid: Your $MON works for you while $gMON flows through DeFi.
Earn Points: Earn native Magma points.
Staking Yield: Capture leading staking yield
MEV Yield (coming soon): MEV-optimized performance designed to boost returns
Build Status: Proof of Community points give recognition and future rewards to the most active Nads.
Lead the Movement: As Monad expands, $gMON adoption is set to define the ecosystem with Dragonads at the forefront.
TL;DR on Magma’s Mainnet arc
1. Connect your wallet: Go to magmastaking.xyz and connect MetaMask or any other supported wallet.
2. Stake MON: Deposit MON into Magma.
3. Receive $gMON: Instantly liquid, instantly usable.
4. Earn Yield: Watch your staking rewards grow in real time.
5. Earn Points: Every move you make with Magma will count toward Proof of Community.
6. MEV coming soon: We will bring you boosted yield when our MEV goes live shortly after mainnet.
For the DragoNads
From the very first Discord message, to the earliest testnet wallets, to the feedback, bug reports, and community energy, you’ve made this possible. Mainnet is OUR victory.
Being part of a community, a DragoNad, means more than using $gMON; it means proving, once again, that DragoNads are Nads. This one is for you, the people of Magma..
The Future Is HOT Like Magma
Magma Mainnet is here. The future is liquid, fast, and community-driven. Together, we’ll take $gMON to every corner of the Monad Universe
Liquid staking is such a game changer for participation rates. The fact that gMON stays liquid while earning yeild means people dont have to choose between staking security and DeFi oportunities. The direct searcher to validator MEV architecture sounds promissing for reducing latency too.