[Blockchain Today Reporter Jieun Lee]
MantraDao listed its own issued token OM on the cryptocurrency exchange BitMax on the 25th of last month.
The Mantra Dao team and Bitmax announced that they will start the OM staking pre-experience event at the same time as the online event.
Financial services based on blockchain are attracting attention recently. In particular, with the emergence of financial protocols that can be combined based on Ethereum (ETH) protocols such as Maker Dao (DAI) and Compound (COMP), we are rapidly building a new paradigm for decentralized financial (DeFi) services.
However, problems such as network congestion and increased transaction costs occurred. As a result, Mantra Dao, a DeFi-based platform that surpassed the limitations of existing infrastructure, was born.
Mantra Dao is an open finance based on the existing Ethereum-based DeFi ecosystem. It supports staking and lending services, while providing DeFi for various cryptocurrencies.
The mainnet of RioChain, which is based on Polkadot Substrate, is composed of main elements, helping to expand the service more efficiently and easily. Through RioChain, Mantra Dao users can receive rewards for staking on other chains, including Bitcoin.
Currently, Mantra Dao's main functions include △staking & lending △incentive system △autonomous governance. The DeFi products can be accessed cross-chain through various staking and lending platforms, and the RioChain ecosystem-based project is supported through an incentive system. In addition, it is operating autonomous governance through voting so that more participants can participate.
Interaction with the Mantra Dao platform is very simple. For Mantra Dao's staking service, users only need to designate and entrust an enterprise-class node infrastructure. Depending on the asset situation, the potential interest rate and OM reinforced interest are paid to the user, while maintaining the user's cryptocurrency assets.
The total issuance of Mantra Dao's OM tokens listed on Bitmax this time is 888.888888 OM, which has finished from private sale to public sale, IM01, IMO2, IMO3.
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Source: Blockchain Today (http://www.blockchaintoday.co.kr)
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