MANTRA DAO Spins Up Its First Validator in the Cosmos Ecosystem — KAVA
Earn KAVA and HARD Tokens Now, and Later OM, too!
Synopsis
Built on Tendermint consensus, Kava provides the framework for secure storage and staking of crypto assets. Like MANTRA DAO, it’s on a mission to bring the tools for decentralized finance to a mainstream audience. This includes services for staking, saving, borrowing, and lending.
Staged Rollout
Phase 1 — Initially, users will be able to delegate their KAVA to the MANTRA DAO Validator through existing COSMOS ecosystem wallets and delegation interfaces in order to earn $KAVA and additional $HARD rewards;
Phase 2 — Users will be able to delegate their KAVA to the MANTRA DAO Validator through the MANTRA DAO App, as well as existing COSMOS ecosystem wallets and delegation interfaces in order to earn $KAVA and additional $HARD rewards;
Phase 3 — Users will be able to delegate their KAVA to the MANTRA DAO Validator through the MANTRA DAO App, as well as existing COSMOS ecosystem wallets and delegation interfaces in order to earn $KAVA, $HARD rewards, and an additional OM token incentive.
Essentials to stake KAVA
MANTRA DAO validator address: kavavaloper1mqsd85lut69zwclmeurj3ve5tarm56hzzkt8fq
There is a 21-day unbonding process for staked KAVA during which time delegated KAVA do not earn rewards and cannot be transferred, exchanged, or spent. KAVA can however be slashed during the unbonding period.
Delegation is non-custodial and delegates cannot spend your KAVA.
Wallets:
Cosmostation (web wallet and mobile)
Lunie (web wallet, mobile, browser extension)
MANTRA DAO Validator
For more details click here.
Commission: 8.88%
Self-bonded Amount: 888 KAVA
MANTRA DAO & Kava Labs Partnership Moving Forward
Initially, OM rewards will not be earned by delegating your KAVA to the MANTRA DAO validator. However, remember that each and every OM token holder is a direct beneficiary of the assets held by the DAO. As the assets in the DAO accumulate, more returns are earned. Those returns will go directly into rewards on our other products like MANTRA POOL.
We’d like to thank the Kava Foundation for helping us to kickstart this initiative to bring more assets into the DAO by delegating 250,000 KAVA while we bootstrap our validator, which now has a total of 274,494 KAVA delegated to it, making it currently the #31 ranked validator on the Kava blockchain.
It is our aim to be a top-5 validator on every blockchain we work with. We want to do more than just secure the blockchain. We want to help KAVA build the cross-chain future.
About Kava
Kava is a multi-asset DeFi platform that offers stablecoins, loans, and other financial services for users of major cryptocurrency assets including BTC, XRP, BNB and ATOM to name a few. The Kava platform has two types of tokens, the KAVA token and the USDX stablecoin where the KAVA token is the native token of the Kava blockchain integral in the security, governance, and mechanical functions of the platform. Users can collateralize their crypto assets in exchange for Kava’s stablecoin, USDX. USDX is the highest earning USD denominated account available for modern investors, offering superior yields without additional risk, compared to traditional alternatives like checking and savings accounts that only deliver miniscule returns.
Website | Telegram | Medium | Twitter | LinkedIn
About Harvest
Harvest is the world’s first cross-chain money market that enables you to earn more with your digital assets. With Harvest you will now be able to lend, borrow, and earn with assets like BTC, XRP, BNB, BUSD, KAVA, and USDX. Harvest is the first of what will be many applications that utilize the Kava blockchain’s security, price feed module, and cross-chain functionality to provide open and decentralized financial services to the world.
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
