ZENTEREST was recently added to MANTRA DAO’s rapidly expanding suite of DeFi protocols
We have seen decentralized finance grow exponentially in recent months and the TVL (total value locked) in DeFi protocols now stands at a jaw-dropping $24 billion. Amongst the projects that have contributed to the sector’s explosive growth in recent months is MANTRA DAO, a community-governed and decentralized DeFi platform that offers its users a wide range of services including staking, lending, stablecoins, derivatives, governance, grants, and custody.
Following its successful token launch, MANTRA DAO continued to make noise in the space throughout December, announcing a flurry of partnerships with the likes of BAND, LUNA, and KAVA being added to the list. As well as joining forces with some of the most exciting projects in DeFi, MANTRA DAO also began announcing the rollout of various DeFi products on its platform including soft governance, which allows the MANTRA DAO community to vote and propose changes to various aspects of the ecosystem.
In December the project reached a particularly notable milestone, with over 100 million OM tokens being staked natively on the MANTRA DAO staking platform since it’s unveiling just 2 months previously. The community was rewarded for being an integral part of the project’s success with the opportunity to own one of 88 rare MANTRA DAO NFTs being sold on NFT platform Rarible. The event sold out in 30 minutes, and proceeds from sales went back to the community.
One of the most exciting features to be announced in recent weeks by MANTRA DAO was their decentralized lending protocol ZENTEREST, which is an overcollateralized, money market, lending protocol enabling users of the platform to supply, borrow and use their crypto assets as collateral.
The Beta version of ZENTEREST was launched at the end of December 2020 and is a fork of both Compound Finance and Cream.finance, two well designed and…