The initial exchange offer will be among the opening IDOs on the Polkastarter platform
Contents
- MahaDAO is an annuity of the date of its IDO: Delivery of MAHA
- Valuecoins, a new cryptocurrency concept for use in the real world
MahaDAO, the development team tasked with building a decentralized fixed platform, has shared details of its upcoming “initial DEX offering” (IDO). This will be the first offering of this kind for Polkadot-based DEX Polkastarter.
MahaDAO is an annuity of the date of its IDO: Delivery of MAHA
According to the press release shared with U.Today, the initial DEX offer of its MAHA governing ticket, will be hosted by Polkastarter on December 17. The MAHA utility ticket will be among the first three IDOs for this platform that n innovate in the use of cross -chain pools in decentralized fundraising.
MahaDAO also uses the MAHA token as the governance asset of the protocol. Steven Enamakel, the founder of the MahaDAO protocol, underlines the critical importance of this offering for the entire stablecoin space:
MahaDAO is creating the way forward for new types of fixedcoins to grow. Some of these stabilizers will solve real-world problems like inflation in the fiat markets and crypto volatility.
During the initial DEX offering, MahaDAO enthusiasts will be able to acquire MAHA tickets to participate in protocol governance referendums.
After the IDO, MahaDAO will list its assets on Uniswap and launch a liquidity farming program. In January 2020, its Collateralized Debt Position (CDP), designed to coin ARTH worth MahaDAO, will be presented to the community.
Valuecoins, a new cryptocurrency concept for use in the real world
The structure of the “valuecoin” is a killer feature of ARTH token. Unlike typical stablecoins subject to deflation reflected by the price dynamics of their currency or basic fiat goods, the ARTH token will see its value unchanged.
The new ticket will be complemented by a basket of unconnected assets. MahaDAO’s initial vault will contain 80 percent fiat currency, 15 percent Gold and 5 percent Bitcoin (BTC). This portion will be restructured in a decentralized manner to prevent inflation of the real world value of ARTH stablecoin.
The “rebalancing” is performed by buying and selling assets to the host party. Therefore, the method of its operation will be opposite the MakerDAO, DAI algorithmic static method:
While MakerDAO identifies new DAIs as valued by the underlying assets, MahaDAO does the opposite, buying more of the collateral, thereby increasing the total value of locked assets.
The MahaDAO team highlights that an unusual Polkastarter platform has been chosen due to its low-cost transactions and quick settlements.