Magma is the first liquid staking protocol on Monad, a high-performance, EVM-compatible Layer 1 blockchain designed for speed and scalability. By staking MON tokens, users receive gMON, a liquid staking token that maintains flexibility while earning yield.
The Magma Testnet is live, offering users a chance to interact with the protocol, test its features, and earn Magma Points by participating in various staking activities. While the mainnet isn’t live yet, testnet engagement will position users for a revolutionary Airdrop post-TGE.
About Magma
Magma is a liquid staking protocol allowing MON holders to earn rewards while maintaining liquidity via its liquid staking token, gMON. Unlike traditional staking, it provides flexibility without compromising network security.
Magma integrates Distributed Validator Technology (DVT) to enhance decentralization, minimize slashing risks, and is backed by prominent investors, as reported by GlobeNewswire.
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Navigate to the Magma Testnet portal, connect a wallet for testing purposes, and ensure it’s switched to Monad Testnet.
- Claim free test MON from the Monad Testnet Faucet, and stake it on Magma’s dashboard to receive gMON tokens (Tutorial).
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Unstake your MON by selecting “Unstake”, specify the amount of gMON to redeem, then confirm the transaction to retrieve your tokens.
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Maximize your points by actively staking, referring friends using your referral code, and track your progress on the Leaderboard.
Step by step guide Magma Airdrop
* Join Magma’s Discord to share feedback, report bugs, and stay updated with the community.
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