MANTRA DAO Partners With TomoChain to Further Strengthen Its Ties in Vietnam
MANTRA DAO to Become a Masternode for TomoChain
MANTRA DAO is proud to announce the commencement of a strong and visionary partnership with TomoChain, a diversified and robust DeFi ecosystem. MANTRA DAO will integrate TomoChain and the TOMO token into its platform for both staking and lending, and will be running a validator Masternode on TomoChain. In addition, TomoChain will also list MANTRA DAO’s OM token onto the TomoChain operated TomoDEX platform offering spot trading.
This collaboration will be a milestone in the long and adventurous mass adoption journey of cryptocurrency across industry verticals, and Coucil Member John Patrick Mullin shared his enthusiasm about the partnership:
It is exciting to have an innovative and prestigious partner like TomoChain on-board. They are doing exceedingly well and touching on almost everything happening in the DeFi space right now. It is a great honor for us to be a validator for TomoChain. Apart from that, we will be working in tandem to leverage numerous opportunities in the TomoChain ecosystem. This partnership is just the beginning of a remarkable collaboration!
Moving Towards a Decentralized Economy
TomoChain is extensively committed towards a decentralized future empowered by blockchain technology. Its DeFi platform offers almost zero fees and immediate transaction confirmation by scaling up to 100 times that of the Ethereum transaction speed. Powered by the Proof-of-Stake Voting consensus, the platform’s core layer gets maintained by the Masternode network. This network serves as a decentralized, safe, cost-effective, and instant transactional system to build modern DApps. MANTRA DAO will be running one of these Masternodes helping to secure the TomoChain network.
TomoChain offers a myriad of services for its investors. By using its official mobile wallet, one can perform multiple tasks like securely storing, transferring, and staking TOMO, as well as transferring other tokens and using DApps on TomoChain. As a Proof-of-Stake chain, TomoChain also has on-chain staking services that allow people to secure the chain and earn TOMO as rewards, and this will be one of the main offerings that MANTRA DAO will initially bring to the partnership!
TomoChain has continued to extend its portfolio of services by building three more core innovative protocols to support the TomoChain DeFi ecosystem:
TomoZ: A zero-friction protocol that enables the token holders to pay transaction fees with the token.
TomoX and Relayers: Efficient and secure decentralized exchange protocol allowing investors to make decentralized exchanges and lending platforms in a short period.
TomoP: A privacy protocol designed to ensure secure and untraceable payments. Complete anonymity is maintained while transferring the tokens as both addresses and the value transferred are kept private.
Working Together to Expand the DeFi Space
MANTRA DAO is delighted at the opportunity to incorporate the numerous services offered by TomoChain. Launching a validator Masternode will be extremely valuable for the MANTRA DAO users as it will enable them to stake their assets and earn lucrative rewards in both TOMO and OM! Once OM gets listed on the TomoDEX, OM token holders will have access to various benefits like real-time settlement, no deposit fees, and no withdrawal fees. Traders will be able to maintain complete custody of their tokens by trading directly from their wallets in a completely secure and decentralized manner!
This partnership’s long-term vision is to reach the numerous businesses, investors, and users worldwide and help them make transactions effortlessly, securely, and instantly. This partnership aims to help reduce current complexity while providing the most convenient experience for users to make transactions. Kyn Chaturvedi, Chief Business Development Officer at TomoChain, is greatly looking forward to building on this partnership:
TomoChain is expanding its presence across the wider blockchain ecosystem, so I’m proud that we are partnering with MANTRA DAO to bring TomoChain to its cross-chain DeFi platform. As our industry expands to support interoperability, core underlying areas to start from are in giving token holders additional access, utility, and returns on held assets. With MANTRA DAO directly investing into our ecosystem to become a Masternode operator, that underlying value will be confidently communicated as their service goes live and we continue to collaborate on subsequent initiatives together.
TomoChain is a scalable blockchain, powered via Proof-of-Stake Voting consensus and used commercially by companies globally.
Our mission is to accelerate the onboarding of millions of users by empowering today’s applications with technology that masks the friction of Blockchain, all while retaining its underlying benefits.
TomoChain’s technology and DeFi (Decentralized Finance)-focused flagship products include:
- Fast & Near-Zero Fees: 2000 TPS, 2-second block-time, ~$0 gas fees, and EVM compatible;
- An array of original features and protocols is designed to support speed, privacy, usability, and liquidity needs all in one platform.
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.