OIN and MantraDAO ventures together to enhance inter-platform operations
OIN is thrilled to announce its upcoming partnership with MANTRA DAO, a community-governed DeFi platform. This partnership will bring several new opportunities for both platforms increasing the scope of inter-platform operations. Moreover, MANTRA DAO was recently listed on Binance in the Innovation Zone that will help OIN further in its goal of making cryptocurrency at par with traditional fiat.
What does this partnership entail?
While this partnership will be extremely beneficial for both platforms, OIN especially will significantly benefit from it. After the latest listing of MANTRA DAO on Binance, the company will soon open trading for OM/BUSD, OM/BTC, and OM/USDT. For this purpose, MANTRA DAO will use OINDAO to mint their Ethereum version of Stablecoin, mUSD, while opening up new possibilities by facilitating inter-platform transactions.
Most traders and investors gain exposure to stablecoins by purchasing them from exchange platforms. But with this new partnership, new opportunities will open up. OIN will also explore other forms of cooperation with MANTRA DAO, for instance integrating OIN’s lending product with that of MANTRA DAO. OIN will also explore MANTRA DAO’S front-end to integrate better into their ecosystem for a more ergonomic UX.
Richie Lee, the founder of OIN mentions, “This partnership will mean new opportunities and monetary resources for OIN, which we will utilize for the further development of the platform. The partnership will be multifaceted in the sense that it will also explore other cooperation with their ecosystem, such as lending to open new opportunities for our users and clients.”
The partnership between OIN and Mantra was much-awaited, and we are excited to work with the company and further our goal of becoming the go-to platform for all DeFi needs.
“MANTRA DAO is very excited to work with one of the go-to stablecoin minting DeFi platforms, OINDAO. mUSD will be a native overcollateralized stablecoin product, mintable on the OINDAO platform, and soon integrated on the MANTRA DAO platform. We believe that this partnership will enable a lot of cross-value transfer between our communities, and are excited to further integrate our product suites.” said John Patrick Mullin, MANTRA DAO co-founder.
About MANTRA DAO
MANTRA DAO is a community-governed decentralized finance platform that focuses on lending, staking and cross-chain DeFi products. The platform is built on Ethereum but will soon expand its services by offering other cross-chain products on Binance Smart Chain Polkadot and Polygon.
The ecosystem of the platform leverages community wisdom to create a transparent and decentralized podium for web 3.0. It has garnered the reputation to endow financial control to the people enabling them to grow their wealth. The utility token of MANTRA DAO, OM, is used for farming, staking rewards and lending, or borrowing collateral. It can also be used for lottery participation and governance.
About OIN
OIN is a decentralized stablecoin issuance and trading platform. While MakerDao allows only mainstream assets to be used as collateral to issue DAI, OINDAO allows projects, large or small, to issue their own brand labelled synthetic assets that are collateralized by their own coins; in essence, any projects can mint their own stablecoins to participate in the greater DeFi ecosystem. Starting with Ethereum, and gradually expanding to other popular ecosystems such as Polkadot, Avalanche, and Near, OIN is on track to become a one-stop shop for cross-chain stablecoin issuance, trading, and implementation.
With planned off ramps and use cases such as swapping for other mainstream stablecoins, adding leverage, hedging, lending, and a plethora of ecosystem-specific utility, OIN is expanding DeFi to cover all of the crypto space.
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