Binance Lists: What Is Mantra DAO?

Binance is listing the Mantra DAO (OM) as of March 8. What are Mantra DAO and OM tokens seeing a 34% increase in 24 hours?

The Mantra DAO (OM) price gained 96 percent on the monthly chart and 42 percent on the weekly chart. The OM token has not yet reached the ATH level of $ 0.62 it saw in August 2020.

OM, with a market value of $ 94 million, saw a trading volume of $ 23 million in a 24-hour period.

What are Mantra DAO and OM tokens?

Mantra DAO; It is a decentralized, governance-oriented, community-managed DeFi platform. Mantra DAO is installed on Rio Chain that can work in harmony with Polkadot. Rio Chain to Mantra DAO; It offers scalability, 2 block verification rate per second, hybrid model for transaction volume up to 3,000 TPS. At the same time, with this infrastructure, banks, decentralized applications, etc. Integration of many institutions and applications with the network becomes efficient.

Staking and lending systems are implemented in the Mantra DAO platform. While users can earn OM tokens by staking, they also have the chance to earn airdrops from other networks partnering with the network. Thanks to the lending system, users can earn returns through cross-chain borrowing. Among the platform ecosystem partners; There are companies such as Substrate, Dominus, Band Protocol, TomoChain, Terra, Kava, Web3Api.

The OM token is the native token of the Mantra DAO. With OM, users have a full say in the Mantra DAO ecosystem. OM token has financial uses such as staking reward and lending return. There is also a scheme called Karma that rewards the positive contribution users make to the network ecosystem. These rewards are awarded with OM tokens.

In a game system called Mantra Pool, users can try their luck to get a return by spending their savings in the game. The supply of OM token is set at 888 million and its circulating supply is 274 million.

Among the exchanges listing the OM token; Binance, OKEx, UniSwap, BitMax, BitMart, HotBit, Flybit, Gate.io, 1inch, Poloniex, Hoo, Bilaxy can be displayed.

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