👾Welcome to MantaDAO

About

MantaDAO is a community owned DAO deployed on the Kujira blockchain that went live in April 2023.

MantaDAO’s mission is to support the entire Kujira ecosystem towards delivering a best-in-class experience to both traders and protocols looking to list their token on FIN (Kujira’s orderbook DEX), while being profitable for MNTA stakers.

To achieve that, MantaDAO operates two complementary activities:

1. A Market Making arm focusing on deepening liquidity on FIN’s orderbook via long-term Protocol-Owned Liquidity (POL) and sustainable market-making programs (i.e. not requiring token incentives). MantaDAO's Market Making arm can also be viewed as the DAO investing and diversifying its treasury into various quality crypto assets, which grows the DAO's balance sheet and drives value to the MNTA token.

2. A Development arm building revenue-generating applications, tooling, and analytics to improve users’ experiences and opportunities across the Kujira ecosystem. The revenue earned from Manta-funded projects and applications provides value to MNTA stakers in the form of sustainable real-yield.

As MantaDAO grows, it might expand to other ecosystems, but Kujira will always remain its home base.

There is a total supply of 100m MNTA, of which 5.0% was airdropped to KUJI stakers at inception. The remaining 95m supply is DAO-governed and being utilized in a controlled, data-driven manner to build POL (mostly) and fund the development of revenue generating products.

Core Philosophies

MantaDAO is guided by the following core philosophies which underlie the DAO’s decision making process:

• MNTA Flywheel: The MNTA token is central to MantaDAO’s flywheel and overall ecosystem. The MNTA token represents a claim on the DAO’s revenue and treasury holdings, which are governed via MNTA staking. As MNTA appreciates in value, MNTA-paired liquidity and purchasing power also increase, which drive further growth (e.g. more liquidity on FIN, means MantaSwap can facilitate more trading volumes, which leads to more revenue for the DAO). Thus, efforts which provide further value to the MNTA token have profound effects throughout the entire MantaDAO ecosystem.

• Relationship to Kujira: Given the current focus on the Kujira ecosystem, MantaDAO exists in a symbiotic relationship with Kujira as Kujira’s liquidity layer and extended product development arm. Thus, the growth of Kujira drives growth of MantaDAO, and likewise the growth of MantaDAO drives growth of Kujira.

• Limited token inflation: MantaDAO does not have a fixed token emission schedule, and the DAO generally makes a concerted effort to limit token emissions thereby limiting potential direct sell-side pressure. The remaining non-circulating MNTA token supply is used in a careful and data-driven manner, taking into account factors such as current market dynamics and potential effects on tokenholder value.

• Investment in POL: MantaDAO selects assets for investment as POL with meticulous consideration of the tokenomics, value-capture, and overall value-add to the DAO. The benefits of acquiring a given asset as POL are weighed against the cost and risks of holding that asset long term.

• Debt-driven growth: MantaDAO makes use of very low LTV debt to drive growth of the DAO’s treasury, POL holdings, and subsequent revenue. The DAO’s debt positions are public/transparent, and are actively monitored by DAO contributors. Since the targeted LTVs are very low, the DAO’s debt positions are not considered high risk; however, in case of a substantial drop in MNTA price, there are several mechanisms by which the DAO can take action to reduce debt risk, including adding more collateral, paying off debt via revenue, or paying off debt via treasury holdings.

Members

The vibrant Manta community encompasses a variety of members ranging from casual MNTA-holder, to passionate governance participants, to programmers, business developers, writers, and researchers. There is strong overlap with power users from the Kujira community, and many of our most active community members are highly skilled and experienced individuals who have been building and investing in the broader crypto space over multiple cycles.