What is MANTRA DAO?
MANTRA DAO (OM) is a blockchain-based decentralized finance (DeFi) platform for cryptocurrency trading. The community-governed protocol offers services such as lending and borrowing, staking, and a decentralized Launchpad. The platform is supported by a native token, OM. You can check the live OM price on the MANTRA DAO price chart above.
The protocol aims to build an an-all in-one platform that puts users at the center. Users can lend, stake, and buy cryptocurrencies on MANTRA. Additionally, they can invest in new projects. Overall, the community takes part in the protocol governance, determining the direction that the project takes.
Well, up to this point, MANTRA DAO may sound like any other decentralized autonomous organization (DAO) project. And you may wonder, out of over 1000 DAO projects, what sets MANTRA DAO apart?
MANTRA DAO’s main highlight is its governance structure and reputation protocol. Many DAO protocols lack an effective governance structure for incentivizing users. The MANTRA DAO crypto project has a way of going through this problem. OM holders have an opportunity to earn KARMA points, which incentivize community participation. Users can earn these points for different actions and redeem them by entering the MANTRA Pool. The pool provides users with rewards, including increased interest rates and decreased staking fees.
The platform also boasts an easy-to-use user interface, suitable for everyone, including beginners.
Who Founded MANTRA DAO?
MANTRA DAO crypto was launched in 2020 by a team led by Wil Corkin, John Patrick Mullin, and Rodrigo Quan Miranda. Will is a blockchain and FinTech entrepreneur in crypto and tokenized security markets. He has a wealth of experience, having helped structure and launch over 20 blockchain companies. John Patrick is another FinTech entrepreneur and tokenization expert. He has also previously participated in Trade.io, a crypto exchange and advisory firm. Rodrigo Quan Miranda, on the other hand, is a former Hong Kong-based investment banker. He has co-founded multiple companies in finance and technology.
Use Cases of OM Tokens
MANTRA DAO coin is both a utility and governance token. It powers nearly all the activities on the blockchain. You can stake the MANTRA DAO token to earn passive interest. Additionally, you can loan your tokens through the lending pools and earn decent interest. Holding the MANTRA DAO token also earns you Karma points, which reward your activities on the platform.
If you're planning to purchase OM tokens, don't forget to analyze the MANTRA DAO price chart. It features both – the previous and the current OM price.
MANTRA DAO Tokenomics
MANTRA DAO tokens were launched with a maximum supply of 888.88 million OM. 53% of the maximum OM supply is dedicated to ecosystem rewards, the team, the advisory, grants, referrals, and the reserve. Besides, it's important to note that the project buys back 1% of the total OM token supply to prevent the decrease of the MANTRA DAO price.
