Introduction about MANTRA DAO
In the growing DeFi domain, it is hard to know between venture projects. Technologies are moving to welcome the DeFi crowd, but platforms are starting to crack under the pressure of high fees and delayed transactions. The valuation of crypto assets is at an all-time high, rising to more than $6 billion in August. If more investors are chasing high yields and flexible interest rates, it is important to have strong and flexible programs.
DAO stands for Decentralized Autonomous Organization for accounting purposes. It is a form of government-run in an open and clear way by members of the association. It not only provides greater power of decisions to people, but helps the group to share in the prosperity of the enterprise, similar to a co-op. These incentives are allocated in MANTRA's scheme with its native OM token.
History: MANTRA DAO vocabulary basically comes from South Asia’s Sanatan religion and Buddhist religion. Mostly, in countries like Nepal, they use this vocabulary. Humanity is the only religion; love is the only mantra; altruism is the only tantra; Aparugraha is the only yantra. Nepal is a country of Sherpas, OM as hymns and Mantras (from Pashupatinath Temple-Lord Shiva), where people believe in Karma for their behavior and passionate about Chakra.
MANTRA DAO provides a full suite of DeFi offerings for users of all skill levels. These instruments are based on structures produced by projects such as Compound, Acala etc. It will give MANTRA DAO:
Multiple Staking & Lending of Properties; Governance; Organization of Self-Government and Method of Native Reward
OM, an ERC-20 token, is the token that drives the MANTRA DAO network. All usage cases for OM are payments, fines, polling, and bonuses. Relevant advantages are granted by Keeping OM.
Staking: In addition to their staking stakes, individuals who stake their investments on MANTRA DAO will earn OM incentives. The OM token can also be self-staked and can be used for loans as collateral.
Governance: OM token holders receive voting rights on interest rates, distribution of grants, and the potential introduction of the program.
Reputation: By contributing to MANTRA, staking OM, voting on ideas, etc, users can create their reputation, or Karma, in the system. Karma is a separate protocol that in conventional finance, functions similarly to a credit rating.
Higher Karma gains include higher staking bonuses, reduced loan interest rates, and lower staking costs. In short, having a high Karma helps people to gain more OM than those with less Karma, and their interest will be doubled.
The cumulative supply of tokens is reduced to 888,888,888 OM. Centered on Tokenomics.
Staking
The platform will also be used by those who do not own large quantities of OM or Karma. A special and welcome feature in the DeFi space is the stacking of several assets. Users with a basket of other DeFi tokens, such as COMP, will join without problems. DeFi veterans would benefit from this versatility.
StableCoin
MANTRA DAO will also be selling a secure coin, the USDOM, in addition to the OM token. USDOM will be multi-collateral, created by Collateralized Debt Positions, just like MAKER's DAI. It will be indexed to the US Dollar at 1:1.
However, while DAI can only be backed by ERC-20 tokens, any crypto sponsored by the Polkadot network can back USDOM. Not only ERC-20, but also BTC, ETH, XTZ, ADA, EOS, and more are included in these tokens. Bitcoin can now be used in the trend of DeFi.
Link: https://mantradao.com/
@MantraDao $OM
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