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What is Mantradao (OM)?
Mantradao is a community-managed DeFi platform targeted on staking, lending and governance features.
Mantradao harnesses the knowledge of the group to create a clear, decentralized and community-managed ecosystem for internet 3.0. Built on the parity substrate for the Polkadot ecosystem, Mantradao returns monetary management to all to retailer and develop wealth collectively.
The principal features of Mantradao
staking
Mantradao will help non-custodial staking providers from Polkadot ecosystem assets, together with:
The undertaking will add extra crypto property to the standard RING, PCX, ACA staking service
In the long run, the undertaking will add different DPoS assets resembling:
The undertaking plans to help non-custodial staking within the quick and medium time period, however can even add custodial staking providers for different PoS property, resembling ETH 2.0 and DASH.
mortgage
The undertaking will develop main merchandise via 3 phases:
In Phase 1, the undertaking will construct chain bridges with present open supply DeFi lending protocols, resembling Substrate, to supply customers with entry to lending charges for Ethereum-based property.
In part 2, the undertaking will use third-party mortgage suppliers to supply entry to high-interest financial savings choices and stablecoin loans. This platform method permits the undertaking to collaborate with business leaders throughout a number of blockchains and protocols, giving customers entry to a full suite of providers in a single easy-to-use interface. Mantradao Foundation may have a small recognition on these built-in merchandise.
In part 3, the undertaking will develop its personal proprietary lending algorithm and stablecoin system, much like MakerDAO’s, however with cross-chain ensures as an alternative of relying solely on Ethereum. Using crypto derivatives, resembling omDOT, as collateral, the undertaking will permit customers to generate staking rewards even whereas borrowing stablecoins. Users can then use this technique to leverage their underlying property, in a much less dangerous means than conventional margin trading, to get extra property, producing excessive returns.
Mantra Pool
Mantra Pool is a cryptocurrency rescue recreation that enables customers to hitch collectively for an opportunity to win Mantradao Fund staking prizes. Each week, the protocol selects randomly generated winners. User can enter Mantra Pool by mastering OM to hitch.
Users can take part in Mantra Pool in 2 methods:
– Burning OM, wherein 1 OM burned is equal to 1 participation ticket
– Depending on the person’s Karma stage, tickets to take part within the Mantra Pool will likely be robotically assigned
25% of all staking rewards generated by Mantradao Foundation assets will go to funding the Mantra Pool. This basket of bonuses is awarded of their unique assets e.g. DOT, KSM, XTZ, OM and so on. Users may have the power to transform all of those property into OM with extra curiosity earned if they want.
Karma
The Karma Protocol is a popularity mechanism that goals to reward members for his or her contributions to the Mantradao ecosystem. Mantradao’s purpose is to offer folks the peace of thoughts to take management of their monetary future that will not have been attainable with out the help and involvement of its members. The extra members be part of, the extra Mantradao turns into decentralized and autonomous. The Karma Protocol is a popularity system that performs an essential function within the Mantradao ecosystem by rewarding and incentivising members to take optimistic motion inside the group.
Members who carry out varied actions in Mantradao will likely be rewarded in Karma. The extra Karma a member has, the extra advantages he’ll obtain within the ecosystem. There are 10 ranges within the Karma protocol to unlock varied incentive providers, finally permitting undertaking members extra alternatives to extend OM holdings, cut back commissions, earn rewards, and extra. In addition to the quantity of Karma earned by every person, the person should additionally meet the particular OM staking necessities to obtain all rewards in that individual tier.
Basic details about the OM token
- Token identify: Mantra Dao
- Ticker: OM
- Blockchain: Ethereum
- Token commonplace: ERC-20
- To contract: 0x3593d125a4f7849a1b059e64f4517a86dd60c95d
- Token kind: Utility, Governance
- Total supply: 888.888.888 OM
- Circulating provide: 313.424.319 OM
Token allocation
- Bet rewards: 30%
- Referrals: 12.5%
- Team and mentor: 17.5%
- Sponsor: 12.5%
- Reserves: ten%
- Private sale: 9%
- Public sale: 8.5%
Token launch schedule
What is the OM token for?
- Administration.
- Rewards up for grabs.
- Collateral.
- Join the Karma protocol for rewards.
OM Token Storage Wallet
OM is an ERC20 token, so you should have many pockets choices to retailer this token. You can select from the next wallets:
- Floor pockets
- Popular ETH wallets: Metamask, Myetherwallet, Mycrypto, Coin98 pockets
- Cool wallets: Ledger, Trezor
How to earn and personal OM tokens
Buy immediately on the inventory alternate.
Participate in staking, paying on the platform to obtain rewards.
Where to purchase and promote OM tokens?
Currently, OM is traded on many various exchanges with a complete day by day trading quantity of round USD. Exchanges itemizing this token embody: Binance, Gate.io, Bitmart, OKEx, Uniswap, Pancakeswap …
What is the way forward for the Mantradao undertaking, ought to I spend money on OM tokens?
Manatradao it is a typical DeFi undertaking with primary features like stakeout, mortgage. In addition, the undertaking additionally provides the Karma protocol, which rewards members who contribute to the undertaking at totally different ranges. Currently, the undertaking has gone via its Roadmap and, usually, Mantradao shouldn’t be too essential in comparison with different DeFi initiatives. Through this text, you have to have someway grasped the fundamental details about the undertaking to make your funding selections. Coinlive shouldn’t be chargeable for any of your funding selections. I want you success and earn so much from this potential market.
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