MANTRA DAO is a community-governed DeFi platform focusing on staking, lending, and cross-chain DeFi products. MANTRA DAO has built a suite of DeFi products including a multi-asset staking platform, money markets lending protocol, gamified lottery pool, and stablecoin minting protocol. The suite is currently natively built on Ethereum, but cross-chain products focusing on Binance Smart Chain, Polygon, and Polkadot will also be built in the future.
OM is the native utility token of the MANTRA DAO ecosystem and is used for the following functions:
- Staking: Stakers of DOT and KSM can delegate their assets to the validator nodes of MANTRA DAO and bind their Ethereum addresses on the Mantra Dao platform to farm OM tokens.
- Lending: Through ZENTEREST, MANTRA DAO’s over-collateralized money markets lending platform, users can supply assets to the platform and borrow tokens against the collateral supplied.
- Lottery: Users can try their luck at the MANTRA POOL by spending OM tokens to access the MANTRA POOL for a chance to win 25% of the week’s PoS validator rewards.
- Governance: OM stakers can issue proposals, participate in governance votes, and suggest changes to various parameters in the MANTRA DAO ecosystem.
The project has raised $5.9MM from a private and public sale.
- 9% of the total token supply was sold in a private sale at $0.03 USD / OM.
- 8.5% of the total token supply was sold in a public sale at $0.05 USD / OM.
As of March 8 2021, the total circulating supply of OM is 266,292,858 OM (29.95%) with a max supply of 888,888,888 OM. Detailed breakdown of the token emission schedule can be seen here.