MANTRA DAO, a community-governed DeFi platform focusing on staking, lending, and governance, has strategically collaborated with Band Protocol to explore avenues of oracle integration and will run a validator node on the BandChain Mainnet. This means that BAND token holders will be able to delegate to the MANTRA DAO validator node to earn inflationary rewards in BAND and additional OM tokens from the DAO. OM tokens are used within the MANTRA DAO platform as a governance token to submit and vote on proposals related to various parameters within the DAO.
MANTRA DAO leverages the wisdom of the crowd to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to grow wealth together. They are currently building various DeFi protocols including lending, borrowing, games, and a KARMA reputation system where both teams are exploring the integration of Band Protocol oracles.
“We are very excited to announce our collaboration with Band Protocol as the first COSMOS ecosystem asset to be included in the MANTRA DAO staking platform. This signifies our commitment to be a cross-chain DeFi platform that supports the staking and lending of a broad variety of crypto assets. We will continue to explore other avenues for the integration of the BandChain decentralized oracle network within all of the upcoming products that MANTRA DAO will be launching in the near future, driving value for both OM and BAND token holders alike.”
– John Patrick Mullin, Co-Founder & Council Member of MANTRA DAO
“Having the strategic support of MANTRA DAO will be highly synergistic for Band Protocol to begin integrating into Substrate-based blockchains and DeFi applications in the Polkadot ecosystem. We are also thrilled that MANTRA DAO have decided to join and participate in the BandChain decentralized oracle network as a validator node to secure oracle data for DApps to consume.”
– Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
With MANTRA DAO joining the BandChain decentralized oracle network, both parties are aligned to extend support in growing together and exploring deep angles of collaboration. We look forward to continuously onboard more integration partners that will be operating a BandChain node, bringing teams closer together to build a more secure and decentralized blockchain industry.
About MANTRA DAO
MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance.
MANTRA DAO leverages the wisdom of the crowd to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.
About Band Protocol
Band Protocol is a cross-chain data oracle platform with the aspiration to build high-quality suites of web3 development products. The flagship oracle solution aggregates and connects real-world data and APIs to smart contracts, enabling smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle.
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