MantraDao- My first DeFi love
DeFi has become a trending word in the cryptocurreny and blockchain space. In contrast to the decentralization of money through without third party, DeFi aims to build a broader approach to improve the traditional financial industry by decentralizing it. The core of the innovation is to create traditional financial services to the society. A permissionless financial service in the ecosystem based on blockchain technology.
In other words, DeFi is an ambitious innovation that aims to decentralize the traditional financial activities like trading, lending, investment, wealth management, payment and insurance on the blockchain. DeFi works based on Decentralized Applications (dApps). These dApps on a the blockchain provides a peer-to-peer network for automated transactions. Smart contracts work as connectors, similar to the perfectly specified APIs in traditional financial systems.
MantraDao- My first DeFi love
Mantra DAO is a DEFI project that leverages the wisdom of the crowd to create a community-governed, transparent, and decentralized ecosystem, this implies that is focused on helping members of the blockchain community earn passively without any third party intervention. It does this through core DeFi features like: staking, lending and governance.
Mantra DAO's staking platform allows its users to lock or hodl it’s native token known as $OM
token in order to support it’s security and operations in the blockchain network and at the same time help users earn passively.
The lending platform implies that the community hodlers of Mantra DAO's native token, $OM, token can take loans funds. MANTRA DAO just launched the beta version of the ZENTEREST lending Protocol as one of the numerous milestone on the Q4 roadmap. ZENTEREST will launch with a handful of both small and large-cap Ethereum based assets. The $OM token can be given as a reward for contributing positively to the platform and for other services. It can also be bought on the crypto market.
In terms of governance, Mantra DAO allows members in the community who meets their laid down standards to be part of their great team involved in making governance decisions for the blockchain as investors and developers depending on the amount of native token, $OM owned by the member. To enjoy these incentives of full governance, one must hodl a reasonable amount $OM token.
For more information about MantraDao check
Whitepaper |Medium | Telegram | LinkedIn | Twitter