When we think about investment in the cryptocurrency market then Decentralized Finance (DeFi) is still a favourite instrument that many of us prefer to invest in. It is because we get lots more than we can get on the traditional investment, and it is a better option than spot or leverage trading. We do trading to generate quick profit, and not everyone is so good at this because it requires a sound knowledge of the market fundamentals. Today in this article we will discuss 1 of the platform that is trying to transform and revolutionise the decentralised finance segment. Multiple platforms are offering the DeFi services but with Manta things are not the same. This platform has tried to build something that is not common and they are trying to bring something which is not just the best in the segment but also unique.
What is MANTRA
Mantra Finance is one of the leading DeFi protocols and they are focused on security as well. They are following the international level security on their platform which ensures that investors can put their funds on any instrument provided on their portal with peace of mind and they need not worry about security issues. there have been multiple instances in the past when people got affected by the security breach but now with mantra finance things are not going to be the same as the kind of services they are offering come with the highest standard of security.
Mantra Finance is built on Cosmos SDK and they can provide scalable, high-performing web applications. they believe in decentralisation and they are compliant and build the regulated blockchain architecture to provide Seamless investing solutions in the DeFi segment.
OMniverse by Mantra
Mantra has built an ecosystem that is called Omniverse and integrated vertical for four segments including finance, chain, nodes and Dao. All these are important components in the crypto ecosystem and they have got a significant use case in the market to define the use case and also through them. The project is trying to contribute well to the entire crypto ecosystem.
MANTRA is a first-of-its-kind, vertically-integrated and regulatory-compliant blockchain ecosystem.
Finance
This is accessible through https://app.mantra.finance/ With this we get the option to invest in different tokens and trade on the tokenized assets. Below is the snapshot of this portal where we can see that some of the information looks similar to what we normally see in any decentralised finance platform. One of the things that you'll notice is that there is an option to verify your identity and it is because they are regulatory compliant so it is a necessity that every trader or investor has to follow on this platform. While we have the option to connect the wallet and perform transactions thereafter but before that it is important to verify the identity by doing the login using email. the signup process is a mandatory requirement but it is easy you can do using your email and creating a password that you like and even there is an option to use the Google account through which you can also log in. Search login plugins are provided on most websites these days because it is quite convenient and takes only a few seconds to get the login done.
This can be one of the parts which many people don't like but we also need to understand that with compliance there are some requirements which need to be fulfilled and the same has been followed by the mantra.
This supports meta mask wallet which is something that most of us use so the wallet connect is a quick process that can be done with just a few confirmations. Usually on such platforms the wallet connect has been made so easy that we can do the login within a few clicks and the same has also been followed on the mantra finance.
In the vaults tab, we can see some tokens including DOT and Solana etc and APY is also shown here so we know what could be the earning potential. We do invest because we want some money out of it and we need to know what is the potential so I must appreciate the fact that the platform has provided it clearly and we know how much we can earn out of it. As I already mentioned that verification is a mandatory requirement and as you can see on the below snapshot we must verify our account to get full access to their products. Since I haven't done this yet so I am getting this notification on top of the page.
Chain
Web 3.0 is a growing segment and with chain, Mantra is trying to build a bigger ecosystem for Decentralized Applications (DApps) and for that, they are inviting web3 builders to come forward and join their ecosystem. This is a great initiative I believe because now they have built a chain that is dedicated to the Web 3 applications where developers can come and build whatever they want. They are also going to launch a native token for their web 3 chain and the name of this token is going to be AUM. this should be coming soon which means they are going to empower the segment with a token that is dedicated to the specific segment and with more development they are going to have a bunch of D apps available on their platform. As per the road map, they are also going to launch their native DEX which is going to be a nice addition for the community.
AUM Token Coming Soon. The AUM Token is the MANTRA Chain native token.
Nodes
Node is another important component of the platform and it plays an important role in any project because there is a lot dependent on this. People deposit their tokens as part of the staking and they earn certain rewards on that which is a kind of good earning opportunity for them while supporting the chain. Below is a snapshot of some of the projects that are already part of and you can check out more by going through them however the offered annual reward percentage is different with each project. Running a node is not a complicated task anymore because the team is there to help and they facilitate the initial setup to get the node on board. They have provided the option where you can show your interest if you want to run a node and you will be supported by the team to get the configuration/set-up done. You can also stake the tokens and there is an option to check the reward based on the token that you are going to deposit on the chain.
DAO
DAO is something that is part of governance in the project and Mantra has done great here as well. They have got their governance token called OM. Usually, the token holders are given the power to support various proposals in the project and it is simply that with bigger holdings you get more power to influence the development or the change that has been proposed by the project team or by the community. This way you are getting the power to be part of the governance through your holding and since it is community driven so the majority of the community is a mandatory requirement to pass any proposal. this is a part of the project which takes it towards decentralisation and the team itself will not be able to do anything unless it is supported by the community which is what we need in the blockchain space.
The OM Token is the MANTRA governance token and serves a wide variety of uses within the OMniverse including voting, staking, DAO token access and more.
They have got a dashboard in which you can see more about the OM tokens. It's a good tool that they have developed and it is called a dashboard to understand the token economy I am sure many of you would like the information provided clearly and intransparentlyGovernance is an important part of any project so it is always an good to keep the information available for everyone following transparency to avoid any conflict of interest later on.
Conclusion
I have gone through the project and tried to understand more about it. They have got various components in the project and it clearly shows that their road map is for the long term and they are trying to build something which is going to cater for a bigger audience including the ones who are investors of course. They are also building an ecosystem for the developers, node validators, and a community that is focused on supporting through the governance mechanism. Overall this project looks solid and there is a lot to explore which I will be doing in my future posts. I like the way the project is built And with each step, I can see that transparency is provided as they have tried to share everything possible with the community and this is something that makes the project a great one in the DeFi segment
[Images are taken from mantra official website]
For more information, check the official sites:
Mantra Finance
Mantra Docs
Twitter
Thank you