The decentralized finance is making life easy as this comes with no intervention entities or individuals to complete a transaction as we have in traditional finance. DeFi (Decentralized Finance) is the opposite of a centralized finance system which an old-school style system that the world is using right now.
What Are The Component Of DeFi?
There are three important features/components related to Decentralized Finance system which are;1. Cryptography: This is an act people use to study the techniques for
securing communication and data in the midst of problems/adversity.2. Blockchain: This is a distributed database3. Smart Contract: This is a self-executing contract that requires no third-party to sign an agreement between buyer and seller and this is using written into lines of code.
How Do You Make Money In DeFi?
There is only one way to make money in decentralized finance. You Put Money To Make Money In DeFi.MANTRA DAO as a Case Study Of DeFiMANTRA DAO is a community-governed DeFi platform focusing on staking,
Lending, and Governance. Its leverages the knowledge and wisdom of the crowd to create a community-governed, transparent, and decentralized ecosystem for web 3.0 that gives financial control back to the people to grow their wealth together. In June 2020, a new Community Governed DeFi Platform was born with the knowledge and wisdom of the crowd to create a community-governed, transparent, and decentralized ecosystem for web 3.0 that gives financial control back to the people to grow their wealth together. In its whitepaper, it revealed that it is a fully integrated ecosystem of decentralized financial services which is built on interoperable technologies and controlled by its users collectively.
Looking at the governance mechanism of the project, OM is the digital token that allows its holders to participate in decisions affecting the parameters of the entire system. Mantra Dao runs a savings and lending platform in which depositors can earn interests on their pooled digital assets.
James Andersen revealed why are DAO's decentralized autonomous organization is the future. Take your time to listen.
The staking platform for the project was released two months ago and at the moment has three staking assets which are OM token (utility token of the platform), RFuel (Roi DeFi token), and UNIOM (LP token from OM & ETH liquidity provided).
You can read more about the project through the following links
Official Website: https://mantradao.com
Medium: https://medium.com/@mantradao
Twitter: https://twitter.com/mantradao
Telegram: https://t.me/mantradao
Africa Telegram: https://t.me/mantradaoafrica