MANTRA DAO has had a very eventful September with the company announcing a host of strategic partnerships across the teams from different countries, including Russia, Thailand, California, Vietnam, Germany, Korea, and New York. Keeping this momentum going, MANTRA DAO has announced its latest investment and strategic partnership with an electronic commerce platform, the Bondly. It is important to note that the Bondly has a fully integrated feature of a cryptocurrency. It aims to explore the opportunity to make significant strides in the digital economy. The digital sector’s potential can be estimated from its worth which is estimated to be around $4 trillion.
Finer Details
More importantly, this partnership will be an expansion of the MANTRA DAO in the Polkadot ecosystem. The native token introduced by MANTRA DAO attempts to help the adoption of decentralized finance to around 400,000 sellers and buyers in the conventional market space. The number is huge, and along with the lucrative business opportunity, bringing these stakeholders to the crypto space can prove instrumental in bridging the space between the mainstream economy and the digital economy.
Bondly represents an excellent protocol that comes with an interoperability feature to help widen the applicability of decentralized finance tools. These tools are conceived so that both digital marketplaces and exchanges can use them seamlessly in the future. Bondly will debut on the Ethereum protocol; however, it is developing the product that will be exclusively used on the Polkadot ecosystem.
Future Products
In terms of future products, Bondly focuses on developing three main propositions – BondDex, BondProtect, and BondSwap. These products have been specifically developed, keeping in mind the requirements of industries that are unfamiliar to the concept of blockchain technology. BProtect will enable the highest level of security related to actions involving cryptocurrency or other digital assets while BondDex and BondSwap will make sure that the trade of digital assets (non-derivative) can be executed with a guarantee of no price difference between intended execution and actual execution.
Another important announcement has come in the form of the $BOND ERC20 tokens offerings to the OM community members who will stake on the MANTRA DAO’s platform at the app.mantradao.com. To choose the qualifying Sherpas, the company will start taking random snapshots from 0:00 UTC on 10/15/2020 onwards. The process is expected to continue till the end of November after which all the qualifying members will receive the $BOND tokens. This will be in addition to the already announced rewards consisting of 88% APY staking in OM token. Further announcement related to the $BOND will be made soon in the future.
Conclusion
The coming together of MANTRA DAO and Bondly has significant implications for the entire blockchain ecosystem. More specifically, for the decentralized finance space, this partnership will be instrumental in realizing the vision to offer digital assets capabilities to people across the globe.