No doubt, MANTRA DAO is one of my TOP 3 DeFi Altcoins Powered By Polkadot. After doing a lot of research, I believe that MANTRA DAO has huge potential and that it is primed for some massive gains. In short: MANTRA DAO has an excellent Karma, here is why.
What Is MANTRA DAO?
MANTRA DAO describes itself as a community-governed DeFi platform focusing on Staking, Lending, and Governance.
This Decentralized Autonomous Organization (DAO) has some pretty cool core features to offer for DeFi lovers like you and me.
Mantra DAO is working on building cross-chain bridges, staking services, lending assets, borrowing assets, and their own stable coin. To support its ecosystem of financial products, MANTRA DAO is using Rio Chain, a substrate-based blockchain. Rio Chain is a highly secure and scalable blockchain that will connect to the Polkadot network.
The recent partnerships of Mantra DAO include a host of players from the cosmos ecosystem, including Polkastarter, TomoChain, Band Protocol, and Kava.
MANTRA DAO leverages the wisdom of the crowd to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to grow wealth together.
Key Features Of MANTRA DAO
Staking, lending, borrowing, and governance are some key features that we also know from other DAOs. So you can deposit your cryptocurrencies as collateral and get instant access to stablecoin loans. On the other hand, you can also loan your crypto to users in order to earn interest on your assets. $OM token holders have full control over the ecosystem through voting and governance rights.
One of the main key features that sets MANTRA DAO apart from other DAOs is KARMA which acts as some kind of a credit score. It`s a reputation mechanism that aims at rewarding users for their contribution to the ecosystem.
Another key feature of MANTRA DAO that really differs from other DAOs is the MANTRA Pool. This seems to be some special kind of lottery. MANTRA DAO calls it "perpetual savings games that frequently give members the chance to win crypto".
Another awesome key feature is staking. As a node for Kusama and Polkadot, $OM holders will be some of the first to access $DOT and $KSM staking. At the same time, they will be able to earn extra interest paid in $OM tokens.
Right now you can stake $OM for a huge return of 88.88% APR. The MANTRA DAO Staking Platform went live just a few days ago. The release of a mobile app is coming soon.
The MANTRA DAO Token $OM
MANTRA DAO`s native token is $OM. $OM is issued as an ERC-20 token running on the Ethereum blockchain. MANTRA DAO is now preparing the launch and the migration into its native platform in the Polkadot network.
MANTRA DAO`s price today is $0.14. It has a circulating supply of 110 Million coins and a max supply of 154 Million coins. BitMax is the current most active market trading it. You can also trade $OM on OKEx and Uniswap (v2).
Since $OM is a standard ERC-20 token, you can store it in any wallet with ERC-20 capabilities like Trust Wallet or Atomic Wallet.
My Final Conclusion
I believe that Polkadot can solve all the problems that Ethereum is not capable of solving right now. So the potential of the whole Polkadot ecosystem is huge and MANTRA DAO is going to be one of the big players in it. $OM definitely has the potential of being a low market cap gem.
At the end of my post, I also like to remind you that my intention in this post is to raise your awareness of Mantra DAO and my intention is not to replace your own research. However, nothing in my post is sponsored, it really reflects my own opinion.
So I hope that I could provide you with some interesting and useful information about the potential of Mantra DAO.
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