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DeFi Platform MANTRA DAO to Serve As a Masternode Operator for TomoChain, a Blockchain Claiming to Scale to 100x Ethereum’s Capacity

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MANTRA DAO (distributed autonomous organization), a community-governed decentralized finance (DeFi) platform that aims to make staking, lending, and governance more accessible to traders and investors, is teaming up with the developers of TomoChain, which describes itself as a “diversified and robust” DeFi ecosystem.

MANTRA DAO will be integrated with TomoChain and the native TOMO token will be accessible via MANTRA’s platform as well, so that it may be used for staking and lending. The token may be used to run a (transaction) validator Masternode on TomoChain. TomoChain will also be listing MANTRA DAO’s native OM token on the TomoDEX (decentralized or non-custodial exchange), which is run via TomoChain. The token may be used for spot trading.

Council Member John Patrick Mullin, the co-founder at MANTRA DAO, stated that his team will be working with TomoChain community members on various opportunities in the DeFi space.

As mentioned in a blog post by MANTRA DAO:

“TomoChain is … committed towards a decentralized future empowered by blockchain technology. Its DeFi platform offers almost zero fees and immediate transaction confirmation by scaling up to 100 times that of the Ethereum transaction speed.”

TomoChain uses a special blockchain consensus algorithm, called the Proof-of-Stake Voting consensus. Its core layer is maintained by the Masternode network, which is a “decentralized, safe, cost-effective, and instant transactional system” for developing dApps. MANTRA DAO will be operating one of these Masternodes, which means it will be helping to secure the TomoChain network.

TomoChain provides a mobile wallet that allows users to store, transfer, and stake TOMO tokens. They can also transfer these tokens and use dApps on TomoChain. TomoChain also offers on-chain staking services that let users secure the chain while earning TOMO as rewards.

Kyn Chaturvedi, Chief Business Development Officer at TomoChain, remarked:

“As our industry expands to support interoperability, core underlying areas to start from are in giving token holders additional access, utility, and returns on held assets. With MANTRA DAO directly investing into our ecosystem to become a Masternode operator, that underlying value will be confidently communicated as their service goes live and we continue to collaborate on subsequent initiatives together.”

As reported recently, Band Protocol token holders may now stake digital assets on MANTRA DAO.

In August 2020, MANTRA DAO announced it would support Polkadot, a protocol for cross-chain transfers of assets and data.

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Matic, which Supports Secure, Instant Crypto Transactions, Verified by Ethereum, Announces Major Updates

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Matic, a platform that aims to facilitate secure, scalable, and instant transactions that are verified by the Ethereum (ETH) blockchain network, has announced new project updates. The Matic developers claim that their project has been making steady progress after it was introduced via Binance Launchpad (the exchange’s IEO platform) in 2019.

The Matic team noted:

“Our developer ecosystem is growing rapidly, with Matic quickly becoming the go-to platform for (decentralized applications) dApps of all types. Phase 2 of our staking rollout is firmly underway and we’re becoming deeply ingrained into the (decentralized finance) DeFi ecosystem.”

The Matic project developers state that they’ve been working on supporting various DeFi solutions like @TheMahaDAO, which claims to be India’s first distributed autonomous organization that’s focused on promoting blockchain innovation in the country.

Matic’s native MATIC coin was recently listed on the Kyber Network, which serves as an on-chain liquidity protocol, allowing “decentralized” token swaps to be integrated into various applications. The Matic team also confirmed that they’re now working on staking rollout Phase 2.

They’ve also welcomed new (transaction) validators to the blockchain or distributed ledger tech (DLT network, including:

  • @TorusLabs (which enables “one-click logins for dApps);
  • @InfosysConsltng (a global advisor allowing organizations to “reimagine their future and create sustainable value leveraging disruptive technologies”);
  • @BCW_llc (a strategy consulting firm);
  • @decentralgames (developer of non-custodial virtual casinos); and
  • @Node_Ateam (a Cosmos, IRISnet, Terra, Kava, IOV, E-Money, Solana, BAND, Matic, and Orbit Validator).

The Matic Network mainnet went live on June 1, 2020. At the time of its launch, it had already produced 43,000+ new blocks.

On September 12, 2020, the Matic Network Developers announced the Build-n-Earn projects that qualify for grants and community voting. On September 11, the Matic team confirmed that the VR ecosystem (@Dvision_network) is onboarding to Matic in order to facilitate “the next generation of virtual experience.” Dvision is a blockchain-enabled VR content ecosystem that aims to develop a more inclusive virtual ecosystem for businesses, designers and regular end-users.

Last month, Binance-owned WazirX, an Indian cryptocurrency exchange, had announced that it will launch a DeFi project with assistance from Matic.

While it does seem like the Matic team has been quite busy since their project was listed on Binance Launchpad, it remains unclear whether these projects will provide any real value or products to customers that would actually be meaningful and useful. Most crypto projects don’t really have legitimate use cases. They mostly encourage trading in speculative tokens.

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Decentralized Exchange Aggregator 1inch Partners TRON to Integrate its Trading Protocol, JustSwap, and Other Enhancements

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1inch has teamed up with the developers of Tron (TRX), one of the largest platforms for building decentralized applications (dApps), in order to complete the integration of JustSwap and Mooniswap.

1inch provides an aggregator for decentralized on non-custodial crypto-asset exchanges with “the best prices” on the market. There are no registrations or sign-ups required to use 1inch. Its creators claim that it’s safe and secure.

The 1inch team stated:

“We’re thrilled to announce a partnership with TRON, one of the world’s most popular blockchains. … 1inch will fully integrate with JustSwap, TRON’s decentralized trading protocol for automated liquidity provision, and our automated market maker (AMM), Mooniswap, will integrate into TRON’s blockchain.”

Sergej Kunz, co-founder and CEO at 1inch, said that the integration will allow them offer “faster, cheaper service, and high-throughput scalability.” Users will also benefit from the larger developer communities of all these platforms, Kunz added.

As explained in the announcement, support of the TRON blockchain in 1inch will allow the aggregator’s users to “get the best rates” for TRON-based digital assets. The integration of Mooniswap with the TRON blockchain should enhance TRON’s decentralized finance (DeFi) ecosystem.

As noted by the 1inch team:

“Liquidity providers on the TRON blockchain will benefit from Mooniswap’s ‘virtual balances,’ which slow down price changes, preventing arbitrage traders from earning up to 100% of the swap slippages and therefore dramatically increasing liquidity providers’ earnings. Thanks to Mooniswap, TRON’s regular users will get an extra level of protection from front running attacks.”

TRON’s developers said that they expect that the integration will allow JustSwap to serve more traders or investors, while improving its price accuracy. JustSwap was launched in August 2020 and it has reportedly reached $100 million 24-hour trading volume.

TRON’s developers are planning to incentivize or reward liquidity providers (LPs) on Mooniswap with TRON’s native TRX tokens.

Founded in 2017 by Justin Sun, TRON aims to compete with Ethereum but has failed to capture a significant market share (when compared to the progress made by the Ethereum ecosystem).

TRON’s mainnet went live in May 2018, which was also around the time that the EOS mainnet was launched. In July 2018, TRON’s developers acquired BitTorrent, a decentralized solution for file-sharing. TRON’s virtual machine was launched in August 2018.

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