Mantra Dao Report by Jesse

As we continue to see new projects launched every day it’s always tough deciding exactly what’s worth our time to take a deeper dive into. This week we’ve decided that MANTRA DAO, the recently launched project getting attention in the Polkadot ecosystem is worth a closer look.

Introduction

MANTRA DAO (OM) is a community-governed DeFi platform focusing on staking, lending, and governance. MANTRA DAO leverages the wisdom of the crowd to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built to give financial control back to the people. MANTRA DAO combines PoS technology, decentralized autonomous organizations (DAO), and decentralized finance together to enable everyone despite their geopolitical background to have access to a worldwide financial market previously unavailable to them. To support this ecosystem of financial products, MANTRA DAO uses Rio Chain, a Substrate-based blockchain that is highly secure, scalable, and connects to the Polkadot network to offer low fees and ease of use.

At its core MANTRA DAO is built to be a decentralized savings and lending platform where depositors can earn interest on their pooled digital assets. Where governance tokens (OM) give its holders voting powers over certain economic aspects like interest rates, inflation, and deflation. The MANTRA DAO Foundation started as a validator candidate on the Polkadot network and registered as a separate legal entity. Created to maintain the platform and serve token holders, who in return are the beneficiaries of the foundation and govern its operation. This foundation will continue to release and develop MANTRA DAO until the community is established enough to maintain it in a decentralized manner. After which a reputation protocol called KARMA will weigh voting powers

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