What is MantaDAO?
MantaDAO is a decentralized autonomous organization based on the Kujira blockchain.
It’s intended goals are to:
- Provide control and direction to Kujira power users
- Provide steady revenue generation from products and DAO decisions
- Target delivery of simple-to-use products that will enhance the Kujira ecosystem
Tokenomics
MNTA is the primary governance token of MantaDAO and will have a total maximum supply of 100M tokens.
The distribution will be as follows:
- 5m airdropped to Kujira userbase.
- 95m under control of MantaDAO Treasury.
This distribution provides an extremely simplified way to ensure maximum decentralization of the DAO and ensure key decisions on further distribution and tokenomics are given to the DAO itself.
Governance
The MantaDAO will consist of a CW3-Flex-Multisig contract backed by a CW4-Stake contract. This will enable users to stake their MNTA tokens and vote proportionally based on how much MNTA they have staked.
Ideally, Manta DAO will be the most decentralized DAO in DeFi that focuses on actual productivity including product & protocol creation and running a profitable treasury.
The holders of the initial 5M MNTA will be able to decide on how the remaining 95M MNTA are distributed and the tokenomics.
Initial decisions we expect that the Manta DAO will need to decide are:
- Deciding treasury MNTA public sales via limit orders, DCA, OTC or launchpad
- Deciding further MNTA airdrops
- Deciding initial roadmap and plan for MantaSwap
- Deciding and approving initial development funds for MantaSwap
- Setting fee level on MantaSwap
- Deciding future products to develop under the DAO
MantaSwap
MantaSwap will be MantaDAOs AMM-styled experience built upon the FIN order-book DEX. It acts as a familiar interface for DeFi users to perform swaps, provide liquidity and farm rewards.
MantaSwap uses an on-chain multi-hop router to enable efficient swaps between any tokens across the FIN orderbook. This allows users to minimize slippage and find the optimal swap route without having to engage in multiple transactions or calculate manually.
MantaSwap will be able to charge a fee on all routed swaps. This fee is customizable and can be set through governance by the MantaDAO. All fees received are sent to the MantaDAO treasury.
MantaSwap may also in the future contain custom built TWAMM pools to execute large volume trades with almost zero slippage. MantaSwap can contain key targeted liquidity pools for pairs that utilise a delayed-execution swap functionality using the Kujira TWAP oracle prices.
Revenue Generation & Rewards
Manta as a DAO has been designed to act as one of the most productive DAOs in DeFi. It’s first seeded product, MantaSwap, will immediately contain a revenue generation mechanism via its swap fee that is sent directly to the MantaDAO treasury. This will allow for Manta to be able to acquire funds in a diversified set of coins to be able to fuel expansion and growth.
We also hope that Manta will make decisions acting as a profitable investment fund, and look to routes such as:
- Token swaps with other DAOs or Protocols
- Early round investment in protocols or projects being built
- Building up a solid diversified portfolio of DAO Owned Liquidity
- Building up a solid diversified portfolio of yield generating assets such as LSDs.
Over time, Manta should be able to have a steady forecast of its projected revenues and profits. The DAO members will then be able to decide on implementing a reward distribution system for staked DAO members to distribute profits for securing the DAO via staking.
Conclusion
MantaDAO will launch in April on the Kujira mainnet, secured by the MNTA token which will have a total supply cap of 100M tokens and an initial circulating supply of 5m. Trading on Kujiras FIN will go live on 8th April 2023.
