MahaDAO To Launch a Staking Program

by in DeFi News

MahaDAO staking program

Decentralized protocol MahaDAO teamed up with Ferrum to deliver a staking forum that will enable users to stake Maha's governance token.

Related: Compound Launched Compound Chain

The MAHA token was issued on Dec. 17 in an Initial Dex Offering managed by Polkastarter DEX. It got sold out within three minutes due to which primary contributors got a profit of above 20x.

Due to the new program, users will be able to get 40% returns annually. The protocol will lock in 200,000 MAHA tokens, which is around 25% of the present supply flow. The users who want to ensure the highest possible APY (Annual Percentage Yield) will need to stake tokens for 90 days.

New program will go live in January 2021, when the customers will be empowered to build and run smart contracts. So far, token owners can earn a yield on their assets.

There are two tokens in the MahaDAO environment: MAHA and ARTH.

ARTH token's minting way is similar to the one of the stablecoin DAI. ARTH is defined as the world’s primary non-depreciating money as its value doesn't depend on factors, such as inflation resulting in prices rising.
So, ARTH delivers the value in terms of the MahaDAO environment, and MAHA presents government functions.