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What is MANTRA DAO?
MANTRA DAO (OM) is a decentralized financial platform. It focuses mainly on staking, lending and governance. This project is based on Rio Chain (a blockchain created using the Parity Substrate framework). It has a high level of security, scalability and can be easily connected to the Polkadot ecosystem. With its help, users are able to access a variety of useful financial instruments.
The developers of the MANTRA DAO platform consider as their main goal the return of financial control to people, the accumulation and augmentation of their own wealth.
This project offers multiple asset allocation, lending, and borrowing for both its own and other platforms.
OM is MANTRA DAO's utility token that was originally based on the Ethereum blockchain. With the OM token, users can receive passive income through staking. The betting platform provided by MANTRA DAO is built with investors’ interests, which allows them to receive attractive rewards and expand the possibilities of the network. Currently, investors staking OM tokens on Mantra DAO can receive an estimated annual return of 88.88%. At the same time, users keep control over tokens, and they can always withdraw their bet.
The system is managed by users. With the help of OM tokens, MANTRA DAO members are able to make changes to the protocol through systematic voting. Each OM token allows one vote within the ecosystem. OM holders are allowed to propose ecosystem grants, interest rate, OM inflation rate, the addition of rate assets or loan products.
Where did MANTRA DAO come from?
The MANTRA DAO platform was launched in 2020. The team of financiers and crypto experts that made this project a reality has extensive experience in the financial and business spheres. Together, they have been working for a long time to overcome the constraints of traditional blockchain. The team is expanding rapidly in several different areas, including engineering and operations.
The founding board of MANTRA DAO consists of 4 members. John Patrick Mullin is a financial technology entrepreneur, tokenization expert, and educator. Will Corkin is a blockchain and financial technology entrepreneur in cryptocurrency and tokenized securities markets. Rodrigo Quan Miranda is a former Hong Kong investment banker who became an entrepreneur in new technologies. James Anderson is the RioDeFi CEO who is also a serial entrepreneur whose participation in the blockchain area dates back to early 2013.
What are the advantages of MANTRA DAO?
- Control
With OM tokens, users gain full control over the MANTRA DAO ecosystem through their system voting and governance rights. - Lending
Lenders can earn interest on their crypto assets by offering users cross-chain loans with multiple assets. - The opportunity to earn a reputation The Karma Protocol is a reputation engine that aims to reward users for their contributions to the ecosystem. Users with a higher KARMA value can receive various benefits such as an increased reward for staking OM tokens, reduced commission for placing bets, and lower interest rates on loans.
- Staking
By focusing on decentralized and non-custodial staking, customers can safely host an increasing number of PoS and DPOS assets, while receiving additional rewards in OM tokens.
What are the disadvantages of MANTRA DAO?
- High competition
DeFi is already overcrowded, and it is worth a lot of effort for a newcomer like MANTRA DAO to get ahead of several major players.
How to buy MANTRA DAO on SimpleSwap?
If after reading and learning more about the MANTRA DAO platform and its OM token, you are interested in purchasing this cryptocurrency, SimpleSwap will make it easy for you. You just need to take a few steps:
- Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
- Select OM in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
- Enter the Recipient's Address. MANTRA DAO will be sent to this address. Be careful and make sure you use the correct address.
- Check all the information you have entered. If everything is correct click the Exchange button.
- You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.
Thank you for choosing and using SimpleSwap!
