Place/Date: - March 21st, 2021 at 4:13 pm UTC · 3 min read
Contact: zendit, Source: MANTRA DAO
The latest development to emerge from MANTRA DAO’s ecosystem is ZENDIT, a crypto token launchpad for new projects coming to market. ZENDIT utilizes a decentralized fixed swapping protocol that provides transparency on the amount of tokens offered during a token launch as well as neutralizing the risk of bad actors artificially inflating a token’s price before dumping.
As an enhanced feature lacking in many of the existing launchpads, ZENDIT will also have the option for projects to use a Dutch Auction style of launch in addition to the standard fixed swap pools. This mechanism will reduce the token price until buyers are found, instead of setting the price at a fixed level without a guarantee of buyers being happy with the price.
By launching on ZENDIT, promising projects in the crypto space will have the choice to launch their tokens via private or public pools (or a combination of the two). This ensures the MANTRA DAO community can participate in a safe, secure, and sustainable way.
MANTRA DAO is a community-controlled DeFi platform that gives users access to staking, lending and governance tools. MANTRA leverages the crowd’s wisdom to create a transparent and decentralized ecosystem. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO aims to give financial control back to the people to store and grow wealth together. The OM token entitles owners to governance rights of the protocol and is also used in MANTRA DAO’s lending and staking services.
MANTRA DAO already has significant experience in token launches and has fostered partnerships with many of the fastest growing crypto projects in the market. Previous partnerships and investments include projects such as Polkastarter, Royale Finance and e-Money. With ZENDIT, MANTRA DAO has committed to supporting its partners in their token launch goals by ensuring all projects have the tools, resources and marketing support they need.
Every project that is chosen to launch on ZENDIT by the MANTRA DAO Council must pass an internal vetting procedure before being allowed to launch on the platform. This is to ensure that only the very best projects become part of the MANTRA DAO ecosystem. Additionally, as a chain-agnostic platform, MANTRA DAO will soon have multi-chain support on several scalable and low-cost blockchain networks. One interesting aspect of the platform is that MANTRA DAO is exploring offering users access to private sales, which would make it the first launchpad platform to do so.
After a successful initial launch, ZENDIT is now accepting applications from other projects interested in launching on ZENDIT.