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What Is MarsDAO?

Apr 17, 2023
5 min read

This blog post will cover:

  • About MarsDAO (MDAO)
  • Where did MarsDAO (MDAO) come from?
  • What are the advantages of MarsDAO (MDAO)?
  • What are the disadvantages of MarsDAO (MDAO)?
  • How to buy MarsDAO (MDAO) on SimpleSwap?

About MarsDAO (MDAO)

MarsDAO positions itself as first of all, a Web3-community of like-minded people who are interested in new technologies and crypto products. At its center, it has the MDAO token which is built on BSC.

MarsDAO team sees as the main goal the creation of a space where users have an opportunity to generate profit, and startups get the necessary fundraising.

Here are the main features of MarsDAO:

  1. Restaking. It helps people automatically reinvest rewards from staking to earn more profit. 
  2. A wallet. It functions through Telegram.
  3. Buying shares of asset portfolios created by crypto experts. These shares are locked for 1-17 years, and cannot be sold before the period ends. All of them have 10% of MDAO tokens in them.
  4. Initial Wallet Offering. Users can purchase tokens of crypto startups picked by the MarsDAO team.
  5. Tokenization. Once finished, the platform will help with tokenizing traditional assets, for example, real estate, land, etc. 
  6. NFT marketplace. Currently, the available NFTs are limited, but the team plans to make it into a cross-chain marketplace with a large number of features.

MarsDAO will be governed by voting once the system is implemented. MDAO token holders can exchange those for GMDAO, and if they have 100 GMDAOs, they will be able to make a voting thread. For it to be considered valid, more than 100,000 tokens will have to be involved.

MDAO is a token that follows a deflationary model, with a maximum supply of 100 mln tokens. The platform has implemented burning mechanisms to combat inflation, for instance, half of the transaction fees from wallets are utilized to purchase and burn the MDAO token. By April 2023, over 3.4 mln tokens have been destroyed.

In 2022, the MarsDAO ecosystem was checked by Pladin and CertiK which did not find any vulnerabilities.

MarsDAO collaborates with other blockchain projects, for instance, Velas, STEPN, etc. Additionally, there is a grant offering for existing projects and bug bounty.

Where did MarsDAO (MDAO) come from?

MarsDAO was created at the beginning of 2022 by Roman Pishchulov, Vladislav Utushkin, and Alexander Politayko. The company’s mission is to make a platform where users could obtain profit in a transparent way and support innovation in the quickly developing crypto market.

In April 2023, there were approximately 150,000 active users, according to the info on the project’s website.

What are the advantages of MarsDAO (MDAO)?

  1. Quick development. Despite quite a recent launch, the project has gained a lot of users and created 20 products.
  2. Diverse offerings. Experienced users can look for promising crypto startups and buy their tokens at a discounted price, and beginners might be interested in purchasing a share in a portfolio created by experts.

What are the disadvantages of MarsDAO (MDAO)?

  1. The ecosystem has not been finished. Such an important for a DAO aspect as voting was still under development as of April 2023.
  2. Lack of information. For many of the products, the team’s description misses some important points. For example, in the case of the ready-made crypto portfolios, it is not stated who the experts are or what assets are in them except MDAO, and so on.

How to buy MarsDAO (MDAO) on SimpleSwap?

If you are thinking of obtaining MDAO, SimpleSwap is always prepared to assist you. Follow the steps provided below.

  1. Select the cryptocurrency you would like to exchange (e.g., BTC). Enter the amount you want to swap.
  2. Choose MDAO in the second drop-down list (the crypto you would like to receive). You will see the estimated amount that you will get after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. MDAO will be sent there. Please check that you entered the right address.
  5. Create the exchange.
  6. You will see the BTC deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange. After that, wait for the tokens to reach your wallet.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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