MANTRA
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MANTRA

8 weeks' worth of OM buyback for~225K USDT!

We will use our delegated rewards earnings to buy back OM from the open market!

We are happy to announce that our promised OM bi-weekly buyback is taking place this week! We will be initiating in stages, a retroactive buyback of OM for the previous 8 weeks which will total to around 225,000 USDT.

Ever since MANTRA DAO’s inception, we have planned to create a token model that will not only be incredibly powerful, but also beneficial to our Sherpa token holders. Since October of 2020, we have been steadily increasing the number of validator partnerships and assets under delegation and now we will be using our delegated rewards earnings to buy back OM every two weeks from the open market.

8 week OM buyback for ~225K USDT!

For those of you who are not familiar, instead of a buyback and burn model, MANTRA DAO buybacks use a buyback and make model which is believed to have better benefits especially for governance tokens which include improved token liquidity! To learn more about buyback and make, take a look at an article by placeholder vc here.

We will be implementing the first iteration of our strategy for 8 weeks and as the number of our validator partnerships and assets under delegation increases further, so will the amounts of OM we will be purchasing from the open market. The purchased OM tokens will be held in our publicly verifiable address that will be announced upon the buyback completion.

Thanks to all our Sherpas for their continued support!

About MANTRA DAO

MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance. MANTRA DAO leverages the crowd’s wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.

Website |Whitepaper |Telegram |Medium |Twitter |LinkedIn | Github

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MANTRA

MANTRA

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MANTRA is a first of its kind, vertically-integrated and regulatory compliant blockchain ecosystem.