The world of blockchain is getting more interesting with new product introduction creating an avenue for people to grow their wealth in a decentralized manner.
There are so many smart contracts built to help the financial sector and position and with the solution provided by Polkadot, it is certain scalability problem which is the major to Ethereum blockchain is getting sorted gradually.
Ethereum blockchain usher in DeFi solution that homed all financial branches in traditional finance which everybody can leverage on. When we talk about financial branches I mean, lending, borrowing, saving, and even enter into governance and voting.
Yes, with blockchain the issue of multiparty contention without having to involve a human was cleared, which means trust is no longer needed to contentiously interact with a third-party but still with bitcoin and ethereum blockchain there are limitations.
Here comes Polkadot ecosystem to pooled security of all constituent chains and guaranteed Trust-free transactions constituent chains even when sending transactions to each other.
MANTRA DAO In Polkadot Ecosystem
One of the features important to Polkadot ecosystem is inter-operability which is the ability to network/interoperate with a wide variety of blockchains within Polkadot system. As the DeFi grows, investors have started looking into Polkadot to be the next Ethereum just because of what they provide to developers.
MANTRA DAO is the first APP built on Polkadot ecosystem and the project focuses on staking, lending, voting and governance. This project has recorded several achievements to positioned them as one of the top adjusted staking rewards in decentralized finance, staking platform of less than 3 months old.
The Architectural View Of MANTRA DAO
MANTRA DAO is a community-governed DeFi platform that focuses on Staking, Lending, and Governance. This platform based their operation on the wisdom of the crowd in other to build and create a community-governed, transparent, and decentralized ecosystem for web 3.0.
Considering the construction aspect of the project, it is built on Parity Substrate for the Polkadot ecosystem. Storing wealth and growing together to give financial control back to the people in the number focus, thereby brought in:
- Staking Platform
- Sherpas Platform
- MANTRA Pool Platform
- Governance Platform
- Reputation Platform
The MANTRA DAO staking platform was released in October 2020 to allow investors stakes their $OM token and earn 88.88% and since then the staking platform enhancement/upgrading is what the Council Members work with. From the launched, integration of Metamask keep start the staking as of now there is wallet link, walletconnect which gives access for Smartphones users to make use of MANTRA APP easily.
You can watch the video for guideline check 21:00 of the recording
As at the time of this publication, the utility token $OM staked have now over 100 MILLION (105,093,695.85) on the platform and this usher in 1st NFT which is a set of 88 unique “100M OM staked”. Read more
Contributing to MANTRA DAO validator nodes propel rewards.
Here are the four validator nodes for MANTRA DAO
All can be accessed using the Cosmos Ecosystem (Cosmostation) with three rollout stages that command reward.
The first week of Deecember 2020 has been great for MANTRA DAO with huge engagement from the Community Sherpas and LUNACRUSH revealed this on their Twitter handle
MANTRA DAO keep track on the Q4 roadmap and before the end of December 2020, there should be the release of some major features.
Q4 lineups can be found via this tweet and do well to follow official social handle for an update.