What is Blockade Games? Information about the Blockade Games project
Blockade Games provides a platform that allows developers to create blockchain games. In addition, Blockade Games also creates many interesting free games.
Mantra DAO concept
Mantra DAO is a community-managed DeFi platform focused on Staking, Lending, and Governance.
Mantra DAO leverages the wisdom of the crowd to create a community-managed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem , Mantra DAO empowers people to take control of their finances to grow together.
Mantra DAO team and development process
Mantra DAO's board consists of various crypto experts. Includes John Patrick Mullin, Will Corkin, James Anderson, Rodrigo Quan Miranda and Stephane Laurent Villedieu.
Mantra DAO development team and process.
In the fourth quarter of 2020, the project launched the Mantra pool, integrated the Compound Lending protocol as well as released an enhanced Staking and Lending product suite.
In its short time as a public project, Maker DAO has attracted interest from investors. The OM token sale was 4x oversubscribed, with some pools selling out in minutes.
Q1 2021, Mantra DAO proprietary lending protocol and Mantra DAO stablecoin release.
Mantra DAO's mechanism of action
Each user staking or lending their digital assets by depositing them into Smart Contracts on the Mantra DAO platform. These assets are pooled and can be loaned to other users to provide the platform's lending service.
When users do Staking, they will receive interest fees and redeem OM tokens.
Functions of OM token
OM is the token of the Mantra DAO project. They have the following basic functions:
Allocate OM tokens
OM tokens are allocated according to the following ratio:
Basic information about OM token
Price: 0.108 USD (Price was recorded at the time of writing 01/07/2021)
Market capitalization: $33.5 million
Total supply: 888 million tokens
CoinMarketCap Rank Position: 491
Blockchain RIO
To support its ecosystem of financial products, Mantra DAO uses Rio Chain. This is a highly secure, scalable Substrate-based Blockchain that will connect to the Polkadot network. Compared to other systems, Rio can process up to 3,000 transactions per second (tps) – a transaction throughput hundreds of times higher than Ethereum and Bitcoin combined.
Blockchain RIO feature.
Karma protocol
The Karma protocol is a reputation mechanism that aims to reward users for their contributions to the ecosystem. Users gain Karma by supporting the ecosystem through ways such as: Staking OM tokens, borrowing and paying back loans, submitting and voting on proposals, participating in the Mantra Pool savings game, referrals friends to develop the community.
Karma protocol.
Lending
The Mantra DAO project develops Lending through 3 phases. In phase 1, the project will build cross-chain bridges with existing open source DeFi lending protocols, such as Substrate, to provide users of access to lending rates for Ethereum-based assets.
In Phase 2, the project will use third-party lending providers to provide access to high-interest savings options and Stablecoin loans. This platform approach allows the project to collaborate with industry leaders across multiple blockchains and protocols, giving users access to a full suite of services in a single, easy-to-use interface. .
In Phase 3, the project will develop its own proprietary lending algorithm and stablecoin system, similar to MakerDAO's, but with cross-chain collateral instead of relying solely on Ethereum. By using cryptographic derivatives, such as omDOT, as collateral, the project will allow users the opportunity to generate staking rewards even while borrowing Stablecoins. Users can then use this system to leverage their underlying assets, in a less risky way than traditional margin trading, to obtain more assets, generating high yields. than.
Lending feature.
Staking
Mantra DAO has enabled the Staling Non-Custodial service on DOT, KSM and OM tokens. In the future, other Polkadot-enabled tokens (RING, PCX and ACA) and DPoS assets (XTZ, ADA, EOS, ELA) will also be made available.
Mantra differentiates staking assets based on their chain and token type. DPoS assets are charged for Staking while Polkadot assets are not. However, these parameters can be influenced by community decisions. What is being developed in the process is Mantra's plan to add custodial staking products to other PoS assets.
Staking feature.
Mantra Pool
Mantra Pool is a crypto saving game that allows users to join for a chance to win Mantradao Fund Staking rewards. Every week, the protocol selects randomly generated winners. User can enter Mantra Pool by burning OM to join.
To participate in the Pool, users can either burn OM (where 1 burned OM is equivalent to 1 participation ticket) or depending on the user's Karma level, they will be automatically allocated a participation ticket to participate in the pool. Mantra Pool. 25% of all Staking rewards generated by Mantra DAO Foundation assets will go to Mantra Pool funding. This bonus basket is awarded in their original assets e.g. DOT, KSM, XTZ, OM etc Users will have the option to convert all these assets to OM with additional earned interest if they want.
Mantra Pool feature.
Advantage
Defect
So far, no major downsides have been found in this project.
Guide to owning OM tokens
To own OM tokens, users can use the following ways:
Instructions for storing OM tokens
To store OM tokens, you can store them via:
Exchanges that support buying and selling OM tokens
Currently, OM tokens are supported for trading on reputable international exchanges such as: Bitmax, Hotbit, Bithump, Poloniex, Okex, Hoo, ...
The Mantra DAO is part of one of many DeFi projects looking to give crypto users greater control over how their protocol runs. Through Mantra's model of incentivizing governance, it is very likely that the development of the protocol will be the result of decisions in the community.
Read more: What is DeFi? Understand all about DeFi in 5 minutes
With the very fast listing, the popularity of the OM coin in particular and the Mantra DAO project in general is greater. Hope the above article has helped readers have the most overview about this project. Follow TraderH4 to learn more potential projects in the near future!
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