Are you learning MANTRA-DAO (OM)? Project information MANTRA DAO and OM Coin
What is Mantradao (OM)?
Mantradao is a community managed DeFi platform focused on staking, lending and governance functions.
Mantradao harnesses the wisdom of the masses to create a transparent, decentralized, community-managed ecosystem for Web 3.0. Mantradao builds on parity substrates for the Polkadot ecosystem and gives everyone back financial control to collectively store and increase wealth.
The main functions of Mantradao
Mantradao will support non-custodial stakeout services starting with the assets of the Polkadot ecosystem including:
The project will add more crypto assets to the typical staking service RING, PCX, ACA
In the future, the project will add more DPoS assets such as:
The project plans to support non-custodial stakeout in the short to medium term, but will also add custodial stakeout services for other PoS assets like ETH 2.0 and DASH.
The project will develop leading products through 3 phases:
In phase 1, the project will build cross-chain bridges with existing open source DeFi credit protocols such as substrates to give users access to lending rates on Ethereum-based assets.
In phase 2, the project will use external loan providers to provide access to high-yield savings options and stablecoin loans. This platform approach enables the project to work with industry leaders across multiple blockchains and protocols, giving users access to a full suite of services in a single, easy-to-use interface. The Mantradao Foundation will have little popularity with these integrated products.
In Phase 3, the project will develop its own proprietary credit algorithm and stablecoin system, similar to MakerDAO’s, but with cross-chain collateral rather than relying solely on Ethereum. By using cryptographic derivatives like omDOT as collateral, the project will give users the ability to generate staking rewards even when borrowing stablecoins. Users can then use this system to exploit their underlying assets in less risky ways than traditional margin trading in order to obtain more assets and generate high returns.
Mantra Pool is a crypto savings game that allows users to join for the chance of winning Mantradao Fund staking rewards. Each week the protocol selects randomly generated winners. The user can enter Mantra Pool by burning OM to join.
Users can participate in the mantra pool in two ways:
– Burning OM, in which 1 OM is burned corresponds to 1 participation ticket
– Depending on the user’s karma level, tickets for participation in the mantra pool are automatically allocated to them
25% of all staking rewards generated by the Mantradao Foundation assets go towards funding the Mantra Pool. This bonus basket is awarded in their original assets, e.g. B. DOT, KSM, XTZ, OM etc. Users have the option to convert any of these assets into OM with additional earned interest if they wish.
The Karma Protocol is a reputation mechanism that aims to reward members for their contributions to the Mantradao ecosystem. The goal of Mantradao is to give people security, to take control of their financial future, which would not have been possible without the support and commitment of its members. The more members join, the more decentralized and autonomous Mantradao becomes. The Karma Protocol is a reputation system that plays an important role in the Mantradao ecosystem by rewarding members and encouraging them to take positive action within the organization.
Members who perform various actions in Mantradao are rewarded with karma. The more karma a member has, the more benefits the member receives in the ecosystem. There are 10 levels in the Karma Log to unlock various incentive services, which ultimately gives project members more opportunities to increase OM stocks, reduce fees, earn rewards, and much more. In addition to the amount of karma each user earns, the user must also meet the specific requirements of OM staking in order to receive all the rewards at that particular level.
Basic information about the OM token
- Token name: Mantra Dao
- ticker: OM
- Blockchain: Ether
- Token standard: ERC-20
- contract: 0x3593d125a4f7849a1b059e64f4517a86dd60c95d
- Token type: Utility, governance
- Total offer: 888.888.888 OM
- Circulation supply: 313.424.319 OM
- Stake out awards: 30%
- Referral: 12.5%
- Team and mentor: 17.5%
- sponsor: 12.5%
- Reserves: ten%
- private sale: 9%
- Public sale: 8.5%
Token release schedule
What is OM token used for?
- Stake out rewards.
- Join the Karma Protocol for rewards.
OM token storage wallet
OM is an ERC20 token, so you have plenty of wallet options to store this token. You can choose from the following wallets:
- Floor purse
- Popular ETH wallets: Metamask, Myetherwallet, Mycrypto, Coin98 Wallet
- Cold wallets: Ledger, Trezor
How to earn and own OM tokens
Buy directly on the exchange.
Participate in staking and borrow on the platform for rewards.
Where can I buy and sell OM tokens?
Currently, OM is traded on many different exchanges with a total daily trading volume of around USD. The exchanges that list this token include: Binance, Gate.io, Bitmart, OKEx, Uniswap, Pancakeswap …
What is the future of the Mantradao project should I invest in OM tokens?
Manatradao is a typical DeFi project with basic functions such as staking and lending. In addition, the project also adds the Karma Protocol, which rewards members who contribute to the project at different levels. Currently, the project has gone through its roadmap, and in general, Mantradao is not too prominent compared to other DeFi projects. Through this article, you must have some understanding of the basic information about the project in order to make your own investment decisions. CoinCu is not responsible for your investment decisions. I wish you every success and a lot of profit from this potential market.