Decentralization, is one of the major unique features which made Cryptocurrency gain global adoption. The fact that the Blockchain industry provides a tamper-proof ecosystem which runs independently on any central Authorities unlike the traditional Finance institution who gets directives from Central Bank makes it more secured,fast and reduces the risk of fraud.
The picture of a DAO was first brought about Dan Latimer, the founder of BitShares, Steemit in 2015, and further researched on by Ethereum’s Vitalik Buterin in 2016.
Actually it was the “Decentralization’’ in cryptocurrencies that brought about the idea behind DAO (Decentralized Autonomous Organization) though there were failed attempts to get it function fully and eliminating it’s interaction with a third party.
It was in year 2019, that Decentralized Autonomous Organization met it’s major breakthrough, gained more audience and adoption because of it’s uniqueness in the Blockchain industry. The main idea behind DAO is establishing a community or an organization, where there’s no need for control from a central authority controlling it’s operations. This means DAO functions independently on any central management or authority.
MANTRA DAO is a community governed decentralized financial services built on interoperable technologies. Mantra-DAO is a Decentralized Autonomous Organization that was the very first DAO to launch on the Polkadot Ecosystem. It is built on RIO-Chain Substrate for Polkadot. Polkadot aims at enhancing interoperability between Blockchains.
What comes to mind next is the question, What makes Mantra-DAO stand out the most from other DAO and DeFi is its uniqueness and exciting features. I will explain the uniqueness and features of Mantradao in the next paragraphs. Stay tuned:
Mantra-dao offers a non-custodial Decentralized staking system, where users earn it’s utility token OM token as a Staking reward on PoS and DPoS assets. There are also plans to support custodial staking system like Ethereum 2.0 and Dash in the near future.
Lenders can utilize the open-source and propietry lending protocol to offer loans to Users in which they will be rewarded with interest on their Crypto assets.
There are about three phases involved with the Mantra Dao lending protocol.
Mantra-DAO is a community governed DeFI ecosystem that allows users grow their own wealth and have full control of their money. Mantra Dao token holders and stakers can also partake in the voting and governance rights within the Mantra Dao Ecosystem.
Deposit any amount of Crypto asset as collateral and receive instant Cash back and access to low interest and stable coin loans.
MANTRA DAO is a fully integrated ecosystem of decentralized financial services built on RIO CHAIN substrate for Polkadot which makes it top tier as compared to other Decentralized Finances.
Find out more about Mantra DAO in their official websites below:
WHITE PAPER: https://mantradao.com/files/MANTRA_DAO_Whitepaper.pdf