Mantra DAO

MANTRA DAO ($OM) has brought reality TV to the cryptosphere with the launch of a weekly YouTube series taking viewers behind the scenes and into the organization’s Hong Kong office.

Having shot and released its third week of productions, each episode has so far followed MANTRA DAO co-founders John Patrick Mullin, Will Corkin, and Rodrigo Quan as they coordinate with team members around the globe and hold face-to-face meetings concerning upcoming developments and partnerships

The series aims to give Sherpas, members and stakeholders in the MANTRA DAO community, a more transparent look into the office’s daily operations, but the episodes also carry broader appeal for those interested in how successful DAOs function within the rising industry of decentralized finance, otherwise known as DeFi.

Decentralized Autonomous Organizations

MANTRA DAO is a DeFi ecosystem that runs on the principles of a decentralized autonomous organization, an organizational model that relies on blockchain technology to reimagine how businesses, institutions, or even casinos can be more efficiently and fairly run by those involved.

Instead of a CEO or president having the final say on how an organization will make decisions and do business, DAOs rely on a community of stakeholders who possess and use crypto, in this case governance tokens, to make and vote on proposals concerning how the organization is managed.

Some famous DAOs include MakerDAO, the organization responsible for minting Dai, one of the most widely used and successful stablecoins in crypto, and the now defunct The DAO, the namesake for the organizational model itself.

In a very short period during 2016, The DAO managed to raise $150M in funding from an enthusiastic community believing in the potential for such a new and innovative system for crowdfunding and organizational governance. However, an exploit in The DAO’s code led to its demise, and a controversial hard fork for the Ethereum network was executed in order to reverse the implications of this setback.

Cameras Capture the Inner Workings of a DeFi DAO

Despite this hiccup, the benefits of decentralization for structuring organizations, especially those involved in decentralized finance, means that the DAO model has proven its staying power with ecosystems such as MANTRA DAO.

Following the principles of decentralization, MANTRA DAO claims to bring “DeFi services to all corners of the world” as well as “leverage the wisdom of the crowd to create a community-governed, transparent, and decentralized financial ecosystem for Web3.”

Inviting cameras into the MANTRA DAO headquarters further increases the transparency of the organization’s operations and offers insights into the nascent world of DeFi as the project founders go about their day. Viewers can listen in on phone calls with team members in Europe, America, and Australia and watch as the team answer questions with industry partners about things like fees for unstaking tokens.

The release of these episodes should help build investor confidence for the future of MANTRA DAO and its $OM token in an industry that continues to see rug pulls making news. Giving users a glimpse into the office life of the DAO in which they participate can now be added to the long list of community engagement and social media presence already available and listed in the comments section of each video.

So far, three episodes have been made available on YouTube, each covering a week of work and play condensed into around half an hour. Community input has begun guiding the direction of the series, and according to MANTRA DAO, “Following our inaugural week behind the scenes of the MANTRA DAO HQ, we are focusing on how the series is going to develop. Like everything we do, we look to the feedback received from our Sherpa community for what they liked, what they want to see, and where we need improvements.”

 

Image by StockSnap from Pixabay

(Excerpt) Read more Here | 2021-06-30 23:48:52
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.