Today I decided to look into the Defi Coin

ॐ Om Mantra Dao ॐ 

The team describes the decentralized finance project as a

"Community Governed DeFi Platform for Staking and Lending".

they are offering a smashing 88% per year if you stake with them so can this kind of yield be legit? 

Their web-appearance mantradao.com leads us to their Platform app.mantradao.com. This is the platform you can stake your tokens on and be part of governance. 

So let us look into the staking, lending and the governance

• Staking: At the moment the Om Mantra Dao team are offering 88% yield on staking the token. This reward in the Pre-Staking Phase is fixed and it is for all participants. 10m OM tokens were released for funding the pre-staking program in total. How long the pre-staking phase will continue nobody seems to know.
• Governance – Holders of OM gain democratic rights by being able to cast a  vote on changes and allocations such as airdrops on Mantras DAO. These votes can be on anything from adjusting interest rates, level of inflation to even airdrops.

The Photo I share is of the coming Polkastarter Airdrop.

This example shows that 80% of the cast votes voted for an airdrop of 50000 $Pols Polkastarter Tokens on the 25th of November. They will be equally distributed between all staking accounts no matter how many $Om you stake.

• 
• Lending: As the platform states lending will be available soon and this is how Om Mantra Dao is going to do it. Using both open sourced and proprietary lending protocols, lenders can directly offer cross-chain, multi-asset loans to users in order to earn interest on their crypto assets.

Outlook:

At the moment $Om is still an Erc20 token. Om Mantra Dao wants to switch over to the upcoming RioDefi Polkadot chain. Rio can process up to 3,000 transactions per second.RioChain allows various entities and dApps across various blockchains to interact with each other seemlessly.

If Rio-Defi will become a successful Polkadot Parachain is to be seen in the future because the auction for those Parachains on Polkadot have not taken place yet.

In my own personal opinion, looking at the congested Ethereum Network, this new player on the Defi sector could, with the help of Polkadot, rise and shine.

Tokenomics: 

ॐ Om Mantra Dao ॐ was valued at almost 70c when Polkadot hit the market in the end of July.It tumbled down to 6c and is now trading at 7.8c.

Mantra Daos $Om market capitalisation is around 15million Dollars now which puts the Project on Rank No#339 on coingecko.com.

In my personal opinion this official project of Polkadot (see picture provided) on polkaproject.com seems more legit than many other contestors in the Defi market.

This is no financial advise.

Suggestions,advice or if you want your coin picked next please just post in the comments below. 

Cheers and thank you very much for the follow& like and your generous tip;

Chris aka Goodsoul

Please checkout my other Crypto-Picks right here.