MantraDAO to integrate Razor Network’s Oracle for secure price feeds
Razor Network is thrilled to join hands with team MANTRA DAO to help them build a DeFi platform focusing on Staking, Lending, and Governance.
As Decentralized Finance (DeFi) is gearing up for mass adoption, the blockchain industry is looking at the next horizon to explore.
This partnership is the beginning of the common, long-term vision to work together on multiple fronts to build a decentralized governance ecosystem.
MANTRA DAO is a community-governed DeFi platform working towards building more transparent web 3.0 services.
As stated previously in an interview with MANTRA DAO Co-Founder and Council Member, John Mullin,
“Decentralized Autonomous Organizations (DAOs) are considered the ultimate DeFi governance system. Governed according to encoded rules, DAOs utilize distributed ledger technology to enable on-chain voting and proposals.”
1.MANTRA DAO will use Razor’s Oracle network to fetch real-time price feeds on-chain.
MANTRA DAO will utilize Razor’s decentralized oracle network to procure real-time price feeds from the external world. This information will be used in a number of DeFi operations on MANTRA DAO’s platform, including calculation of reward payout for stakers, settlement of contracts, and so on. Razor’s secure and scalable oracle service will ensure that MANTRA DAO’s smart contracts can operate efficiently and reliably.
2. MANTRA DAO will join Razor Network as a validator.
MANTRA DAO has released its staking pool and OM token liquidity mining program. The new Mantra validator node will allow users to earn RAZOR utility tokens. MANTRA is a partner with MATIC Network, an Ethereum layer-2 blockchain scalability solution provider. Recently, Razor has also joined the MATIC network to provide oracle services.
3. Razor will provide access to its truly decentralized Oracle Network to MANTRA DAO.
As a bigger mission to build trustless, decentralized governance, MANTRA DAO will use the Razor network’s powerful and secure oracle service. Razor’s sophisticated and reliable algorithms will ensure speed, security, and decentralization as Mantra developers need to access the real world data without compromising anything else.
Razor’s CEO Hrishikesh Huilgolkar said about the partnership,
Both Razor and MANTRA DAO are focussed on providing state-of-the-art decentralized services in our respective fields. In today’s world, where DeFi applications and users are increasing at an exponential rate, smart contracts need oracle services that are trustworthy and fast. Razor satisfies both these conditions, and this association will help MANTRA DAO achieve its vision. This partnership is the beginning of a long chapter of cooperation between Razor and MANTRA DAO.”
About Mantra DAO
Mantra provides decentralized staking, lending, borrowing, and governance services with its open source and proprietary protocols. Users can stake a growing number of PoS and DPoS assets securely, all while earning extra rewards in OM tokens, as well as access to partnered airdrops, as stated on Mantra’s official site. Mantra stablecoin is set to launch in 2021, and users will be able to use crypto assets as collateral to borrow in stable assets.
Razor Network at a Glance
Razor Network is a decentralized oracle providing data to the smart contracts using a network of stakers. Razor is not only fast but also extraordinarily robust and economically secure. It offers a high degree of decentralization, thus reducing the risk of any fraud.
Due to its high economic security and a high degree of decentralization, Razor Network is exceptionally resilient to bribing attacks. Our platform continually evolves with the changing landscape and is always fully prepared to swiftly and smartly handle any adverse circumstances.
We are working on a next-gen oracle network. Please follow us on Github and Telegram for updates.
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