The decentralized finance (DeFi) revolution in less than 1 year has given much profit to many invested in it. Still, DeFi needs to build things that are truly for the masses, live up to being "the future of finance" rather than the future "pump and dump". It is certain there is a lot of work to be done, but the belief is, there are many extremely solid projects building some very innovative financial products out there.
It's going to be an exciting road ahead and it's glad to share with you MANTRA DAO, one of the projects playing a leading part of this future DeFi revolution.
What is MANTRA DAO?
MANTRA DAO is a DeFi platform built for the masses, with an emphasis on the community and interoperability. This project had a very successful token offering at the peak of the DeFi bull run in August 2020 and have since launched her own staking platform and continue to grow the community called Sherpa's Community. MANTRA DAO has an extremely aggressive roadmap, and a lot of cool products to speak about in more detail as progress in reading. The project team has grown fairly quickly, and presently have a team in Hong Kong, Shanghai, Australia, Europe, Africa and the USA.
MANTRA DAO ROADMAP
For easy access, check the official website for the roadmap here. A close look at the roadmap revealed that MANTRA DAO team have met all the goals on the roadmap up to this point which they are proud of. It is certain that the real meat of the project is yet to come, and it shows that they have a lot of very complex and intricate products that not only require a very detailed level of technical design, but also legal and economic design. MANTRA DAO is essentially trying to build a crypto DeFi bank in 9 months, which you will agree is no small task.
Architectural View Of The Platform
The MANTRA DAO platform makes it UI/UX as easy to understand and as simple to use as possible for even non-tech individual. It easy to access via existing wallets and easy to stake or access other DeFi applications with the click of a button. Currently, MANTRA DAO have a simple V1 staking platform where over 72 Million token worth over $4 Million are staked and the users can connect their Metamask wallet, select how much OM (community-governed token) they want to stake and then approve the transaction and their tokens will be staked enjoying the promotional rate of 88.88% APY.
Let's Talk MANTRA POOL
The next milestone MANTRA DAO set to launched is MANTRA POOL which is the pretty cool product whereby users can access it via paying 1 OM per ticket, which goes into the buyback $ make smart treasury pool and then the users will have a chance to win 25% of the weekly validator node revenues.
Presently, MANTRA DAO runs validator nodes for many top PoS projects such as DOT, KSM, BAND, KAVA, MATIC, and several others. The users can enter this pool and try their luck to win a portion of that week's assets, as the AUD or assets under delegation grows, this will only increase the weekly rewards.
MANTRA DAO Reputation Mechanisms
KARMA is the reputation mechanisms set up by MANTRA DAO. This is a very simple product that encompasses both a gamified incentivize voting and support of the DAO (decentralized autonomous organization), but at the same time, it works as a very complicated credit rating model to offer all sorts of tailored financial products such as undercollateralized lending.
KARMA will be launched as a reputation mechanism that will give KARMA points to users who vote, issue proposals, stake OM, etc and they can earn additional financial benefits for the staking rewards.
According to the team, first quarter 2021 credit product will be launched and this will be a game-changer in DeFi, due to the fact that MANTRA DAO will be the first project in decentralized finance to launch this feature.
MANTRA DAO Team
The team comprises of 5 governance council members, John Mullin, Will Corkin, Rodrigo Quan Miranda, James Anderson, and Stephane Laurent. The major key player (Operating team) is John Millin, Will Corkin, and Rodrigo who work with over 12 members working on the project spread across the globe including 3 blockchain engineers, 3 full-stack engineers, 1 senior dev ops for node infrastructure. 1 junior system admin and few UI/UX as well.
Presently, MANTRA DAO is hiring for 2 positions which can be found here
OM Token
MANTRA DAO and the MANTRA Protocol are only able to operate as a
Community-governed, a decentralized autonomous organization through its use and integration of the OM token. OM tokens are the entry pieces for people to become members into MANTRA DAO and are what allows them to decide how they want the organization to operate. OM tokens grant members of MANTRA DAO governance and voting rights, access to collateralized loans and compounded interest, as well as entrance into MANTRA POOL’s savings games.
OM is listed on 15 exchanges.
In conclusion, MANTRA DAO team keeps upgrading the platform daily and the launch of soft governance module which allows OM stakers and UNI OM/ETH stakers get more and on and to have a say in all matters relating to the platform. Indeed MANTRA DAO project is a game-changer in Decentralized Finance.
Reference
https://mantradao.com
https://twitter.com/mantradao
https://t.me/mantradao
https://t.me/mantradaoafrica