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Mantra DAO launches Band Protocol validator

EBC DA F B DFA EAC E

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TL;DR

  • Mantra DAO announces plan to integrate validator into its network
  • This would enable the platform to reward its users with OM tokens.

A popular cross-chain network on DeFi, Mantra DAO, has informed the general public that its partnership with Band Protocol has birthed a validator that can be used for validation on its platform. 

The announcement was made through the platform’s official Twitter handle, where it said that its thousands of users would now be able to earn OM tokens as rewards. This reward would be the platform’s way of incentivizing participation in the spread of its token.

Mantra DAO reiterates that one of its goals is to encourage cross-chain interoperability. Band Protocol also maintains that its aim aligns with that of the network. 

Partnerships in the DeFi industry have always aided the growth of the sector. These partnerships have been essential in developing decentralization; the partnerships have also been able to ensure more scalability and have provided for the development of a blockchain that allows for multiple different chains.

Mantra DAO to roll out validators in three phases

According to the DeFi network’s announcement, the Band Protocol validators would be rolled out in three phases.

In the first phase, an ecosystem wallet, COSMOS, would be used with the interface to assign BAND tokens to the validators. This phase would allow users to get a BAND reward.

In phase 2, Mantra DAO apps would be used to earn BAND rewards. Users would be able to make this reward by delegating the BAND token to the validators.

While in the third and final phase, BAND and OM tokens would become available for the users to earn.

Mantra DAO prides itself on being a network governed by its global community. The system is being used to stake crypto assets, borrow cryptos, and carry out crypto governance activities. The network can also build a transparent and decentralized Web 3.0 by leveraging crowd intelligence.

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Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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