It is impossible to keep track of every cryptocurrency on the market. With over 5,000 coins, tokens, and protocols, it rapidly becomes a tragedy of commons with the overlap in scope and vision. With such a wide selection of blockchain projects, differentiation is a crucial concern. Instead of distancing itself from other companies, MANTRA DAO is continuing to partner with established and developing organizations. In doing so, they are reinforcing their vision to deliver “staking to everyone.”
Strength in Numbers
MANTRA DAO is differentiating itself from the competition with a diversity of partners. As we have previously noted, the team is quickly making partnerships with node partners worldwide. Companies from Vietnam, Thailand, Korea, Russia, Germany, New York, China, India, and California have all signed on to be part of the MANTRA DAO ecosystem.
The node partnership serves to increase the staking footprint and serves as a stress test for the network. The 24-7 nature of blockchain is both a blessing and a curse. Blockchain networks cannot be taken down by a single actor, but it also means that any issue or error in the code will be perpetuated in every transaction and block. Developing and implementing code to a network with zero downtime is akin to tuning a flying plane. For this reason, and many others, blockchain projects are such a challenge to release to a broad audience.
However, the number of partners MANTRA DAO has accumulated is a reliable indicator that its code has kept up to speed with demand. And demand has never been higher in the DeFi space. While naysayers and analysts may decry the DeFi bubble has popped, the opposite seems to be the case. Aside from the recent correction in DeFi coins like CREAM and UNI, DeFi Pulse shows that the total value locked (TVL) in DeFi projects is over $11 billion. This increase is more than a doubling of TVL since August when it was just under $4 billion.
The widespread influence of MANTRA DAO will be magnified by its staking rewards. Partners like Bondly are already offering exclusive liquidity pools for OM stakers on app.mantradao.com where $5.3 million in OM tokens and $1.65 million in Rfuel are generating rewards. Bithumb Global and BitMax also offer centralized staking options, where users can earn the same 88.8% APY as app.mantradao.com. Bondly is also working on mainstream adoption, bringing crypto payments and services to those not currently in the space.
September saw a rapid number of partnerships, and October is no different. This month, the Layer-2 blockchain solution Matic announced it would be a validator node for MANTRA DAO. Matic has long been a candidate for rapid adoption. As an Ethereum Layer-2 solution, it has the potential to dramatically lower ETH fees in the DeFi space and across any exchange with exposure to ERC20 tokens. As their recent Medium post phrases it:
“As a validator node, OM token holders will be able to link their OM account with their MATIC address, delegate their MATIC to the MANTRA DAO node, and earn validator rewards from the Matic Network as well as liquidity mine OM tokens on the RioChain. MATIC will be added as collateral in future DeFi products on the MANTRA DAO ecosystem.”
The above system of offering multiple rewards is quickly becoming the norm in the DeFi space. As projects compete for mindshare in a space dominated by innovation, users will migrate to the platforms offering the best investment rewards. Pooling resources, both technical and human, is perhaps one of the best ways to grow market share in blockchain. MANTRA DAO is achieving this through coordinated efforts and continual partnerships. Other projects might be content with acquiring Matic as a technology partner and focus on internal development. But for MANTRA DAO, each partnership is simply another step in creating the defining one-stop-shop for staking rewards.
Medium – https://medium.com/mantra-dao
Website – https://mantradao.com/
Twitter – https://twitter.com/MANTRADAO
The Daily Chain
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