There’s a Monumental Future Ahead — Note to Community— Dec 2020
There’s so much more coming with MAHA especially with the product launch. In this article, we detail what’s coming next.
We want to give an update to the entire MahaDAO community & congratulate each one of you for such a successful launch. We want to share with everyone what has been achieved and what lies ahead in the future.
MahaDAO conducted an IDO on Polkastarter a few days ago and we are heart warmed by all those who could participate in our IDO and are grateful for all the support we’ve received so far from investors, advisors, and community members.
Many holders got massive returns by participating in our utility token sale and we are happy to hear that the bots were kept at bay and only humans got in. We are only getting started.
We strongly acknowledge that our whitelisting process could’ve been a lot smoother and to address this we will be sending out a full post-mortem about the IDO very soon (early next week).
Circulating Supply and listing on various apps
We are on track with our circulating supply to be as mentioned in our tokenomics article and will be starting the 2021 year with about 700k MAHA tokens in circulation out of the total 10mn MAHA tokens.
This means that starting 2021, less than 10% of the supply will be in circulation with the remainder distributed over 9 years and 11 months.
We have heard that some of our community members wanted an in-depth breakdown of the token allocations; so we’ll be making public those details shortly in an excel sheet.
We are also working on updating the circulating supply on price tracking platforms like CoinMarketCap and CoinGecko. And we are also working on getting $MAHA listed on portfolio apps like Delta & Blockfolio.
Note: $MAHA has successfully been listed on Coingecko, CoinMarketCap, and many other price tracking apps/platforms.
Exchange Listings
Our goal with MahaDAO has always been to list firstly on major tier-1 exchanges for the MAHA coin (as it is a volatile asset) and then list with as many tier-2 and tier-3 exchanges for the ARTH coin (as it is a stablecoin).
On this note, after the success of our Uniswap launch, IDO, and the recent growth of our community; we have been flooded with listing requests from many tier-2 and tier-3 exchanges. A few exchanges have already gone ahead and listed $MAHA organically.
We are taking our time reviewing each CEX properly and are already in talks with a few tier-1 exchanges and so this process can take a while due to the amount of due diligence that happens in the background.
As of writing this, we are listed on Uniswap & 1inch
Uniswap link to trade — https://info.uniswap.org/pair/0xc0897d6ba893e31f42f658eead777aa15b8f824d
1inch link to trade — https://1inch.exchange/#/ETH/MAHA
Staking, Liquidity Farming, and other Programs
Staking is an important component that we will be launching to keep MAHA tokens out of circulation until the product is launched.
MAHA Staking programs will go live soon and will allow MAHA token holders to earn rewards for locking their tokens out of circulation. The tentative timeline for MAHA staking is mid next week. APY & lock-in details will be shared closer to the date.
Uniswap staking programs will begin once the price discovery phase has ended and we see the price stabilizing for a few days. The tentative timeline for Uniswap staking is about a few weeks from now.
Liquidity Farming for $ARTH will begin when the product launch happens.
MAHA Staking and Uniswap Staking will happen with our partners from Ferrum network.
Note: Staking program is live from 25th December 2020–01st January 2021. You can stake $MAHA here — https://mahadao.com/staking.html
Partnerships
We have a very aggressive partnership pipeline and we are working towards having successful launch partners for the $ARTH launch. Launch partners help multiply the impact that the launch of ARTH will have.
There are a few major partnerships that we have closed recently that’ll be announced once the time is right.
Our website has been updated with the list of major partners and what they do.
Product Major Milestones
The product is the real game-changer here. And we’re excited to share that we are releasing a beta version in the month of Jan and are on track as per our roadmap to launch by Q1 2021.
When the product (which is the ARTH CDP Portal) goes live, so will the liquidity farming for $ARTH begin. Liquidity farmers will be rewarded in MAHA and help fuel the liquidity for $ARTH. The world’s first valuecoin.
We will soon have our governance portal up and give token holders the ability to make decisions for the project.
This is the ideal time where we’d like to also focus on getting more investors vested in the project before the product launch happens.
Minting, Current Supply and moving to time-locked contracts
In this section, we address a few of the major concerns brought up by the community members regarding the mint functions and the rich list on etherscan.
The MAHA token is created with a mint function that will help add to the inflation rate that’ll come into effect by the year 2030. This function’s ownership will be moved to a timelock contract that will unlock the mint function after 5 years.
The current locked supply of MAHA tokens (which is around 92%) will be moved into three time-locked contracts. One for seed investors, private sale investors & advisors, one for the team and the rest for the community fund.
- Investors and Advisors will get tokens that will unlock linearly every 30 days for 11 months only (157,576 tokens per month).
- The team will get their tokens after 11 months
- The community fund will get tokens that’ll unlock linearly every 30 days for 119 months (58,333 tokens per month).
Any unused tokens from the community fund in a month will be burnt. The code for these smart contracts will be made public on Github.
Conclusion
There’s a lot to unravel here and it is only meant to show that we are just getting started on the monumentally bright future ahead.
We will soon become a fully community governed project and there’s so much love from all the members in the MAHA community that we’re expediting our plans to do this sooner. A full post-mortem analysis of the IDO will be released around the next week.
Have a great weekend!
Please note: Participants/inhabitants from China, South Korea, Singapore, Japan, Canada, USA, Puerto Rico, Brazil, France, Malaysia, Nigeria, Philippines, Russia, UK, US Virgin Islands, & any other possessions of the United States are not permitted to participate in any kind of sale conducted by MahaDAO because of restrictions enacted in the said regions.
