MANTRA DAO 2.0 Path to Ascension

MANTRA DAO 2.0 — Path to Ascension

The past 8 months building out the MANTRA DAO ecosystem has truly been a unique and special experience for our team. DeFi and the broader crypto space have seen a massive uptick in adoption, interest, and technology breakthroughs. Needless to say, the competition has only increased, and teams need to move at breakneck speed to keep up with the constant innovation and ever-changing trends.

I’m incredibly proud to say that throughout this period of time, MANTRA DAO has moved from strength to strength, and grown into a formidable DeFi ecosystem and player with a multitude of working products, and accomplished all of the initial promises from the 1.0 version of our roadmap.

I’d like to take a moment to highlight some of the successes and growth we have achieved in such a short time. Our validator nodes business currently supports nodes on over 15 different networks and has Assets Under Delegation (AUD) of over $180M. The ZENTEREST lending platform has over 50 assets listed and over $50M of TVL on the platform alone. Total TVL of the MANTRA DAO is hovering around $150M having crossed this threshold earlier this week. Additionally, MANTRA DAO is officially a cross-chain platform and now supports Etheruem, BSC, and Polygon. MANTRA POOL has over 600K OM tokens spent and removed from circulation and the buybacks wallet has just over 1.8M OM tokens as well. ZENDIT has successfully launched 9 IDOs in the past month on both Ethereum and BSC and has many more lined up for the coming months.

In a change from the original roadmap, MANTRA DAO 2.0 will focus more on the multitude of products we are building, and enhancing the functionalities for what we’ve already built. Another additional change is that the new roadmap will not have any set timelines as this puts unnecessary stress and time constraints on our dev team. I believe we have proven ourselves as builders and we will continue to launch and improve products at an enhanced speed. However, this will allow us more time to test and launch products without bugs and additional audits.

Without further ado, we are immensely excited to share MANTRA DAO 2.0 and all the incredible plans we have ahead. Bearing in mind that there is so much information to unpack here, we will be releasing additional follow-up articles for several of the new products. I have started with our existing products and will conclude with the forthcoming products we’ll be launching.

ZENTEREST

• Since the inception of the ZENTEREST lending platform just over 3 months ago, it has seen a ton of growth with over 50 assets listed. In the coming months, we plan to list an additional 50+ assets, bringing our total to over 100 assets that you can supply and borrow against.
• We will be integrating ZENTEREST on several other chains. Starting with BSC and Polygon, and exploring others such as HECO, Solana, etc.
• Additionally, we will be adding monitoring functionality such as a liquidation dashboard, and lending/borrow health factors for given positions.

ZENDIT

• The fixed swap pools on ZENDIT have been immensely successful with nearly 10 projects raising funds through them in the past month. We will add an additional tool for issuers to raise funds by creating Dutch Auction style pools to bring more flexibility to projects.
• One of the questions we have been asked the most is about the guaranteed Tier 0 for ZENDIT launches. We are happy to say that Tier 0, from here on known as Olympus Mons will be launched in the imminent future. We will create a separate article to cover this topic, but the Tier 0 requirement will be supplying 188K OM on ZENTEREST in order to take part in a separate guaranteed pool.
• ZENDIT will also be multichain similar to all of our other products. Polygon will be the next chain we integrate.
• Finally, we will be adding an KYC platform for issuers who wish to KYC their participants for public pools.

MANTRA POOL

• One of the biggest issues we faced with this product was the gas costs in order to participate. The first order of business in order to improve this product will be creating a low-cost option. We will be doing this on both BSC and Polygon to begin.
• Additionally, we will be exploring smaller daily pools, which allow participants more opportunities at participating and winning prizes.
• We are also exploring expanding this product to offer a no-loss option, where users would not spend their assets to enter. This most likely would not be done with OM however.
• Finally, we will be adding a product that many of you may be familiar with if you’ve ever been to a real casino. Slots. We’ll be launching a Sherpa Slots, slots machine game for users to try their luck at winning special prizes.

Validator Business — Staking Nodes & Infrastructure

• One of the core revenue generators for MANTRA DAO is our staking business. We are approaching nearly $200M worth of assets secured on our nodes earning staking rewards and we want to continue building this business into one of the strongest in the space.
• We will be expanding our delegator rewards program that we successfully launched with DOT & KSM in the near future with the first chains being Matic/Polygon, LUNA, and Kardiachain. We will then actively add other networks into this program.
• We currently require users to stake their respective assets on the native interface of the project, such as Polkadot.js. We plan to create an integrated cross-chain wallet that allows for multi-asset staking directly on the MANTRA DAO platform.
• Given our experience in managing infrastructure and PoS validator nodes, we will be expanding this business and scaling it by supporting external projects to run and manage their infrastructure for them. Essentially becoming a staking-infrastructure-as-service provider. This is akin to projects such as Bison Trails, Blockdaemon, and ANKR.

Mobile App

• One area we really want to improve upon is the user experience and functionality of our mobile wallet. It will be undergoing a complete refurbishment in terms of looks, feel, and functionality.
• This starts with adding enhanced staking features and pools to our wallet and mobile app.
• Additionally, we will add other products to the app, such as ZENTEREST and ZENDIT.
• Finally we will also work on making this not only a multi-asset wallet, but a multi-chain wallet that gives an enhanced user experience to store any number of assets on various chains.

USA-Regulated DEX & Launchpad

• One of the products that I am most excited about, but still requires a little time to fully unveil is the US-regulated DEX and Launchpad that we building.
• The launchpad will allow us to compliantly launch both utility tokens, security tokens, etc. This product will allow us to conduct Regulation D, S, and CF for both professional and retail investors globally. Sherpas will continue to get first access at a curated list of global deals.
• The regulated DEX is something we are very excited about, especially since it will also involve it’s own native exchange token. We ask for your patience as the big unveil for this product and all it’s ins and outs will be announced shortly. Rest assured, that the Sherpa community will be the first to have access and benefit from this additional token.

Building Within the Polkadot Ecosystem

• MANTRA DAO has always been a Polkadot-first project. Some things have taken longer to develop with respect to Polkadot parachains, but we are still 100% committed to Polkadot. While we haven’t publicly launched any substrate-based products yet, we are actively building in the background.
• We are building a cross-chain money market that will be complementary to the existing ZENTEREST, but offer enhanced cross-chain capabilities and functionality. This will include flash loans, and features such as tokenized debt.
• We will continued building the substrate-based USDOM stablecoin and are currently exploring various models for maintaining a stable peg. One that we are particularly fond of is the UST model that Terra.money have built. We will continue exploring all various options until we find something that fits our tokenomics best.
• KARMA protocol and undercollateralized lending is also something that is in the works. Some things we’ve been focusing on, is creating a viable credit model in a psuedonoymous fashion, and how to enforce defaults. We also haven’t ruled out KARMA being a totally separate protocol, with it’s own token. Obviously, this would need a tie-in with OM’s tokenomics, and we would also make sure any additional token launches would always benefit the Sherpas and OM holders. Once again we have to give a nod to Terra.money and how they launched Mirror Protocol and Anchor Protocol.
• Liquid staking is also on the way, and will be a core feature of our lending products.
• Finally, and in the spirit of a true multi-chain DeFi ecosystem, we haven’t ruled out the idea of our own chain down the line. This is still a ways off, but if it makes sense, we will consider it.

MANTRA DAO Cross-Chain Functionality

• As most Sherpas know, we are built to be a cross-chain ecosystem. We already support Ethereum, Binance Smart Chain, and Polygon. RioChain is on the way as well, as we await their upcoming ambitions to become a parachain. That being said, we plan to expand our multi-chain offering aggressively in the coming months.

Some of the chains we are exploring and plan to integrate are as follows:

• Avalanche
• HECO
• Solana
• Elrond
• Icon
• Fantom
• Proprietary chain

MANTRA LABS — Decentralized Incubator

• One of the elements of our business that we have been silently working on in the background is incubating projects — supporting from ideation, tokenomics, marketing, tech support, funding, fundraising, etc. Essentially we can offer a one-stop-shop for a project looking to launch a tokenized business idea.
• Sherpas will be able to get involved in the governance and distribution of funds for selected projects who are chosen to be part of our program. Sherpas participating in this program will get enhanced ZENDIT deal allocations and other special privileges.

Topics for Future Discussion

There are far too many topics to get into the level of detail needed to explain any potential upcoming changes and enhancements, so for the following 3 topics, we will focus on them separately in the near future.

• NFTs
• Tokenomics
• Governance

Thank you all once again for the amazing support we’ve had over the past months. We’ve accomplished SO much in this short time span thanks to your help and support and I couldn't be more excited about what we have in store. We’re just getting started!

OMMMMMMM,
JPM 🕉

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 creates 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.

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