MantraDao- A community-governed DeFi platform focusing on Staking, Lending, and Governance
Decentralized Finance (DeFi) is a term that refers to digitally owned assets and financial smart contracts, protocols, and decentralized applications (DApps).
It consists of virtual financial software built on and backed up by blockchain and works without third party intervention.
MANTRA DAO is an integrated and decentralized financial services ecosystem based on intertextual technology and managed by users. The management mechanism is known as the digital symbol $OM, which hands users full governance to participate in decisions that affect system parameters.
Mantra also supports the DAO Karma Protocol, a popular mechanism for evaluating the behavior of system participants and for monitoring $OM owner performance metrics.
So many projects have evolved over the years with the aim of procuring visible solutions to underlying problems on the blockchain. Some of the most sought after technologies in the cryptocurrency space include Interoperability and Distributed ledger technologies which ensures faster transactions, encompassing and transparent financial services that bring zero doubts in the minds of users and lovers of cryptocurrency while ensuring safety and anonymity.
In the light of these, recent projects have been unable to integrate these key features into the blockchain which has drifted DeFi farther away from reaching its peak and taking the cryptocurrency space by storm.
There is a new protocol that brings a viable solution by incorporating interoperability and flexible design between networks is called Polkadot. Polkadot Protocol provides a neutral ground where multiple blockchains can carry out thousands of transactions seamlessly with the speed of light thereby making data transfer rapid and easy. It ensures long-awaited improvements in blockchain such as scalability around the ecosystem.
MANTRA DAO is interoperable with Polkadot network and is a DeFi application running on Rio Chain that assures a friendly environment for digital financial services to take place. MANTRA DAO is community and user friendly and is backed by a digital token called $OM.
Being a community ruled project, $OM holders are gifted the opportunity to make visible changes and decisions regarding the system. Also incorporated in MANTRA DAO is the Karma Protocol that has the ability to checkmate and keep track of true holders of the $OM token
Key Features of MANTRA DAO
- Staking
Available on MANTRA DAO are non-custodial staking services with Polkadot ecosystem assets including; $DOT, $KS, $OM
This is a viable way of earning on the project while holding the token as an irresistible ROI with safety is assured
- Lending
MANTRA DAO is offering multiple lending products that one may be spoiled for choice. These lending services will be available in three phases.
Phase 1 promises Compound as a DeFi lending protocol built on cross-chain bridges to ensure interests in lending.
Phase 2 provides high-interest savings for token holders under third-party lending services.
Phase 3 finally merges the stable coin system with a lending algorithm using cross-chain collateralized assets similar to Makers so
Here's MantraDao's road map
2019
☑️ Rio Chain Kick-off
☑️ Rio Chain Development Begins
☑️ Conceptualization of Proprietary Lending Algorithm
2020
☑️ Rio Chain Beta Net Release
☑️ Penetration Testing Completed (CertiK)
☑️ Become Kusama Validator Node
☑️Completion of Initial Membership Offering (IMO)
☑️ Enter Kusama 1000 Validator Program
☑️ OM Token Exchange Listing
☑️ Enter Substrate Builders Program
☑️ Become Polkadot Validator Node
☑️ Launch of Staking Platform
☑️ Launch of MΛNTRΛ POOL
☑️ Launch of ZENTEREST Lending Protocol
☑️ Integrated DOT & KSM Staking and Nominator Rewards Program
☑️ Mobile Wallet & App Goes Live
2021
🔲 MANTRA DAO Proprietary Lending Protocol Released
🔲 Issuance of MANTRA DAO Stablecoin
These and more are the service offered by MANTRA DAO.
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