Home » Blockchain » What is Mantra Dao (OM) coin and how does it work?

What is Mantra Dao (OM) coin and how does it work?

by Financial Economy

MANTRA DAO Token is the cryptocurrency of the DeFi platform Mantra Dao, which can take part in decentralized financial transactions. OM Coin is the cryptocurrency used to participate and vote in the Mantra Dao. The MANTRA DAO Token is also used for lending, staking in the Mushroom DAO. Information about some topic that what is Mantra Dao (OM) coin, how it works, how to buy it, on which exchange, how much is it, etc. is in continuation of the article. You can browse here for infomation about Newscrypto coin (NWC).

What is Mantra Dao (OM) coin and how does it work?

MANTRA DAO is a decentralized finance platform with a special focus on staking, lending and decentralized governance.

The right to access the Web3 ecosystem via Mantra Dao, which can be connected to the Polkadot network, is obtained with the ownership of MANTRA Dao Token. Holders of high amounts of OM Coins are rewarded with an annual reward of 88.8% if they initiate staking over the network.

Mantra Dao coin purpose!

The aim of the MANTRA DAO Token project is to offer all the possibilities of Web3 applications and DeFi together. Therefore, investors using the MANTRA DAO business plan have the right to staking OM Coin, provide business-to-business access via Web3, and collect business plan loans. Another aim of the project is to offer investors the chance to switch to the Polkadot network. The project mostly appeals to those who aim to profit through decentralized financial transactions.

OM coin comment!

OM Coin is the cryptocurrency used in MANTRA DAO to efficiently perform transactions belonging to the Defi ecosystem. It is preferred both for participating in the management and for staking.

OM coin advantages and disadvantages!

OM Coin advantages:

  • Passive Income: By staking coins in MANTRA DAO, OM Coin holders have the chance to earn new coins at the end of a certain maturity.
  • Interest Earnings: OM Coin holders lend OM Coins to those in need of loans in the network and demand their repayments with interest on their loans.
  • High Speed: With OM Coin, swap and wallet-to-wallet transfers are done within minutes, while low costs are paid.

MANTRA Coin disadvantages:

  • Addressing DeFi Only: The OM Coin project focuses only on the DeFi protocol. NFT sales cannot be used for new generation Blockchain technologies such as earning coins through games, application development, storage space rental.
  • Attack Risk: While OM Coin is stored in virtual wallets like every crypto currency, it is under the risk of attack that may occur on the network. When hardware with offline storage is kept in wallets, the risk is eliminated.

Which exchange is OM coin avaliable on?

OM coin is listed on some cryptocurrency exchanges such as Binance, OKX, Phemex, KuCoin, Gate.io, etc.

How to buy OM coins?

OM coin can be purchased from listed cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.

OM coin supply!

Total supply of OM coin is 888.888.888  OM.

OM coin price!

As of April 11, 2022, at the time of the writing, 1 OM coin price is around $0,09 (because of the volatility the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

Related Posts

Leave a Comment