DeFi Protocol MahaDAO Announces IDO on Polkastarter
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DeFi Protocol MahaDAO Announces IDO on Polkastarter

Monday, December 14, 2020 8:10 AM
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TORTOLA, BRITISH VIRGIN ISLANDS / ACCESSWIRE / December 14, 2020 / MahaDAO, a stablecoin platform for cryptocurrency collateralization and issuance, has announced details of its Initial DEX Offering (IDO). The event will be hosted on Polkastarter, the Polkadot DEX for cross-chain pools, on December 17. The MahaDAO token sale will be the one of the first three IDOs conducted on the decentralized fundraising platform, which launches on December 15.

MahaDAO is a community-focused DAO with a governance ecosystem that utilizes a 2-toke system. The DAO utilizes a two-token system, with MAHA serving as the protocol's governance token and ARTH as its "valuecoin".

While stablecoins, and the dollar they are pegged against, diminish in value due to inflation, ARTH maintains its value. This means that a cup of coffee in 10 years will cost the same amount of ARTH as it does today. As a valuecoin, ARTH has been designed to maintain value stability, ensuring that it maintains consistent purchasing power over time.

Steven Enamakel, Founder of MahaDAO said: "MahaDAO is creating the way forward for new kinds of stablecoins to grow. Some of these stablecoins will solve real world problems like inflation in the fiat markets and the volatility in crypto. With ARTH, we are launching the MahaDAO platform with the world's first valuecoin."

Users can stake assets into the MahaDAO vault to create a Collateralized Debt Position (CDP) and mint ARTH. Designed to be more stable than a traditional crypto asset, ARTH is backed by a basket of un-correlated assets. Based on the reverse vaults pioneered by MakerDAO, the MahaDAO vault acts as a regulator to manage collateralized assets and govern the issuance and redemption of ARTH.

Once minted, ARTH can be used to interact with DeFi protocols and is suitable for farming, staking, lending, borrowing, and saving. The initial MahaDAO vault will contain an index comprising 80% fiat currency, 15% gold, and 5% BTC.

To maintain the 1:1 purchasing power of the ARTH valuecoin, the vault will periodically rebalance, buying and selling assets to maintain parity. Whereas MakerDAO mints new DAI as the underlying assets appreciate, MahaDAO does the reverse, buying more of the collaterals, thereby increasing the total value of locked assets.

During the Polkastarter IDO on December 17th, the community will have the opportunity to acquire MAHA tokens and stake their claim in the platform's future governance.

Polkastarter has been chosen on account of its decentralized design and ability to support cheap transactions and secure, ultra-fast swaps. Upon completion of the IDO, MahaDAO will list on Uniswap and announce details of a liquidity farming program that will incentivize early adopters and launch its governance portal. In January, the project will launch its CDP portal, enabling the community to collateralize assets and start minting ARTH valuecoins.

About MahaDAO

MahaDAO is a stablecoin platform that is governed in a decentralised manner by the MAHA token holders. Its smart contract-controlled vaults are used to mint ARTH, an innovative new kind of currency backed by a basket of assets. ARTH is designed to counter wealth depreciation by maintaining its purchasing power, regardless of the fluctuation in other market assets.

Learn more https://mahadao.com

Media Contact:

Kim Bazak, MarketAcross
[email protected]

SOURCE: MahaDAO

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