MANTRA

MANTRA DAO is a decentralized application built on Rio Chain, a substrate-based blockchain infrastructure that interacts with the Polkadot network.

The MANTRA DAO platform consists of the following features:

1. A savings and lending platform through which savers can earn interest on their pooled digital assets.

2. An OM governing token that gives its holders the right to vote on certain economic parameters, such as the interest rate, inflation and deflation rates.

3. A reputation protocol called KARMA which:

a) weights the voting of OM token holders in proportion to certain measurable indicators;

b) increases the chances of OM token holders to take advantage of various financial incentive schemes.

MANTRA DAO is a project initiated by the MANTRA DAO Foundation, a validator candidate on the Polkadot network. The MANTRA DAO Foundation was created to support the MANTRA DAO platform and serve OM token holders who are the beneficiaries of the foundation and manage its operation.

The MANTRA DAO Foundation will ensure the release and development of the MANTRA DAO until the MANTRA community is established enough to support it in a fully decentralized manner. The MANTRA DAO Foundation is also responsible for protecting certain intangible assets related to the project, such as trademarks and copyrights.

DAOs - Decentralized Autonomous Organizations - are changing how organizations coordinate their activities to create value. DAO is decentralized because control over its operations is not in one place. It is autonomous because the smart contracts that govern its operations determine how the organization functions without the need for human intervention.

DAOs represent a major modernization of the traditional firm. DAOs use blockchain technology and programmable incentives to address challenges traditionally faced by global organizations such as financial transparency, process automation, governance, and alignment of geographically separated individual stakeholders towards a common goal. By combining modern technologies with new models of economics, management and financing of tokens, DAOs can provide significant benefits to their participants. With the help of DAO, communities can leverage the strengths of all participants, turning them into active stakeholders for the joint development of the network.

While DAOs have amazing potential, they are still very new. Most of the existing DAOs are too complex for the average person to interact with, as they require in-depth knowledge of cryptocurrencies. What does it take to make DAOs more popular? Better user experience, easier governance and voting processes, a reputation system that encourages positive action, and more incentives for active participation. With these systems in place, each member of the DAO has both economic and social incentives to be a good person, a good employee, and a team player, and to be responsible for one another, regardless of age, experience, or perceived influence.

MANTRA DAO will support non-custodial staking services starting with Polkadot ecosystem assets, including but not limited to:

DOT;

KSM;

O.M.

As more Polkadot Ecosystem assets become available for staking, we will add them accordingly. These include RING, PCX and ACA.

As we continue to provide non-custodial staking services, we will be adding other DPoS assets such as:

XTZ;

TRX;

ADA;

EOS;

ELA.

We plan to support non-custodial staking in the near to medium term, but will also add custodial staking as a service for other PoS assets such as ETH 2.0 and DASH.

Asset allocation rules vary by chain and asset. However, for example, we will not charge staking as a service fees for Polkadot assets initially, but we will charge staking fees for other DPoS assets. These fees will vary depending on the staked asset and will be voteable via the OM Governance Token.

MANTRA DAO is the development of several loan products in three stages:

1. In Phase 1, we will build cross-chain bridges to existing open source DeFi lending protocols such as Compound to offer our users access to lending rates for Ethereum-based assets.

2. In Phase 2, we will use third-party lending providers as a back-end to provide access to high-interest savings and stablecoin loans. This platform-independent approach allows us to partner with industry leaders across multiple blockchains and protocols, giving users access to a complete set of services within a single, easy-to-use interface. The MANTRA DAO Foundation will take over a small distribution of these integrated products.

3. In step 3, we will develop our own proprietary lending algorithm and stablecoin system similar to MakerDAO, but with cross-chain assets, not just Ethereum-based assets. By using tokenized derivatives such as omDOT as collateral, we will enable users to generate staking rewards even when borrowing stablecoins. Users can then use this system to increase their underlying assets in a less risky way than traditional margin trading in order to acquire more of them and earn additional profits.

MANTRA was built with the aim to make crypto pioneering personal, and support the growth and development of Web3 and DeFi around the globe in a safe, secure, and easy to understand environment.

MANTRA was built with the aim to make crypto pioneering personal, and support the growth and development of Web3 and DeFi around the globe in a safe, secure, and easy to understand environment.