Mumbai (Maharashtra) [India], December 23 (ANI/NewsVoir): MahaDAO, a decentralized autonomous organization (DAO) has recorded a 1900 per cent jump since their IDO on December 17, 2020 to a base price of USD 12.
With the global success of the project in mind, MahaDAO has now also launched a staking program that will reward active participation in MAHA tokens. The program provides an APY of close to 40 per cent and MahaDAO has allowed a maximum of 200,000 tokens to be staked for 90 days. This accounts for nearly 25 per cent of MAHA's circulating supply and provides the community with the possibility of locking their tokens to begin earning yield.
The Initial Dex Offering of MahaDAO sold out in under three minutes and has given investors a return of over > 20x in under a week. The organization already has a record number of over 3,800 wallet holders within 5 days and the token is trending heavily, currently in the top six tokens on Uniswap in terms of volume.
With Bitcoin's well documented rally driving the price to USD 23,000 and beyond, there is a frenzy brewing among the cryptocurrency community that sees mainstream adoption as the next step. This is more importantly leading to a renewed interest in the space among global investors, notably at the institutional level who are looking at this new innovative way of delivering financial services.
Staking is yet another example of the power of decentralisation, where your tokens or currency is used to validate transactions on a network to earn rewards or interest. It is a very robust mechanism to facilitate consensus in a decentralized manner and trumps the measly rates offered by banks.
"MAHA staking is an eagerly awaited program that will allow our community members to lock and earn MAHA tokens, whose scarcity on the open market will only intensify as a result. MAHA has more than 3,800 wallet holders, each of whom now has a chance to earn MAHA tokens in a decentralized manner akin to earning interest from a high-yield savings bank account. We believe the community will comfortably fill up the quota within the seven-day staking window," said Pranay Sanghavi, Co-founder and Chief Business Officer of MahaDAO, speaking about the resounding success of the Initial Dex Offering of MAHA tokens.
MahaDAO's ARTH token, which is minted in the same manner like a stablecoin as DAI, is created with an aim to be the world's first non-depreciating currency. This means that its purchasing power will remain constant over time, enabling investors to retain the value of their investments, whilst serving as a frictionless mechanism of exchange.
MahaDAO generates and governs ARTH, a decentralized algorithmic currency that aims to fight depreciation. No matter which direction the market moves, users of ARTH never lose their buying power. ARTH offers people a new way: financial freedom with no volatility. It's a first-of-it's-kind value-stable currency that you can control. ARTH translates to wealth creation, one of the foremost goals of human life.
The currency is managed by no single entity or person, but by a community. MAHA is a governance token that empowers it's holders to vote on the savings rates, stability fees, direction, strategy and the future course of action for ARTH. By decentralising decision making in such a way, this currency is completely democratic, putting the power back in people's hands and paving the way for a fair monetary system.
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