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- Polkadot has been one of the most talked-about blockchain projects of 2020, achieving a $3.5 billion valuation and convincing many of its viability as a genuine contender to Ethereum’s crown.
- With MANTRA DAO, Acala, Akropolis and Sora the Polkadot ecosystem already owns four promising projects.
Founded by Ethereum co-creator Gavin Wood, the Web3 Foundation’s protocol facilitates cross-blockchain transfers of any type of data or asset, enabling sidechains (a.k.a. parachains) to interact seamlessly with the main Polkadot chain.
With interoperability or lack thereof continually cited as an impediment to wider blockchain adoption, Polkadot’s unique ability to link disparate networks has provoked intense interest in the developer community and attracted an array of intriguing projects whose performance will shape the network’s fortunes. Let’s take a look at them in turn.
A community-governed defi platform focusing on staking, lending, and governance, MANTRA DAO is built on Rio Chain, a Substrate-based infrastructure that is interoperable with the Polkadot network. Powered by its own native OM token, which allows holders to participate in key decisions (via the KARMA protocol) and is distributed as a reward for contributions, MANTRA DAO will initially support non-custodial staking services starting with Polkadot ecosystem assets like KSM (Kusama) and DOT (Polkadot).
In short, MANTRA aims to be an integrated, community-governed ecosystem for web3, returning financial control into the hands of the people by letting them earn interest on their pooled digital