MahaDAO AMA Recap
CryptoDiffer team
Hello, everyone!😁
We are glad to meet here
Steven Enamakel, Developer & Founder of MahaDAO
Pranay Sanghavi, Business and Founder of MahaDAO
Business and Founder of MahaDAO, Pranay Sanghavi
Thank you so much for having us here Maks, its a pleasure to be here
CryptoDiffer team
Q1: Can you introduce yourself to our community ?
Business and Founder of MahaDAO, Pranay Sanghavi
My name is Pranay Sanghavi, and I’m the CoFounder – handling the business, ecosystem and investment side of things in MahaDAO. A quick background: I started my first company when I was 19, while still in college, in telecom & networking. Setup 9 sites in Mumbai with over 7000+ customers and exited all of them within a period 3 ~ 5 years. I have close to 20 years serial entrepreneurship experience starting, advising and scaling up multi-million dollar enterprise including Fortune 500 Corporates in Information and Communications Technology Businesses.
Developer & Founder of MahaDAO, Steven Enamakel
sure. my name is steve and i’m the developer and cofounder at mahadao. i’ve been coding since i was 6 and blockchain is to the core of my heart. mahadao is our latest innovation to push forward crypto
CryptoDiffer team
Q2: Can you briefly tell us what is MahaDAO in 3-5 sentences?
Business and Founder of MahaDAO, Pranay Sanghavi
MahaDAO, which is releasing ARTH, a decentralized non-depreciating algorithmic token, which derives its value from a basket of uncorrelated assets, the relative weights of which are automatically adjusted by automatic buying and selling in response to changes in the price of each individual asset relative to the others.
The token is a valuecoin, as its value endures irrespective of which direction the market moves, and it hence maintains the buying power of the holder.
Its a dual token system
CryptoDiffer team
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans
Developer & Founder of MahaDAO, Steven Enamakel
we have two major partnerships with easyfi and matic that was recently closed and we recently made a lot of headway around our product development.
in terms the future, we are doing our IDO pretty soon in the next 7 days and it’s going to be one of the most exciting things to happen for the project.
there are many partners, vc, contributors who are excited to. help see the project grow 🙏
Business and Founder of MahaDAO, Pranay Sanghavi
Since our 2nd October 2020 Launch the journey has been a hell of a thrill. We have acheieved much beyond our plans in terms of
Product engineering (alpha was successful)
Community growth and engagement (10 – 20x growth in telegram, twitter, etc)
Buying interest (15x oversubscribed)
Investor relations (best funds backing us)
Partner network (more than 8 partners already, 3 in #DeFi )
IDO, Uniswap, etc all planned and ready to execute
CryptoDiffer team
Awesome, a lot of updates to come out!
Thank you for great answers!
I think it is time to start community questions round!
Cryptodiffer Community
Considering that central banks have issued huge amounts of FIAT money and inflation is expected, should I expect ARTH to appreciate against the USD in the long term?
Developer & Founder of MahaDAO, Steven Enamakel
yes. arth is a stabelcoin designed to always appreciate against the fiat currencies. including usd
Cryptodiffer Community
The prosperity of the DeFi market this year is based on the underlying infrastructure and the improvement of AMM. In your opinion, has the prosperity of DeFi come to an end? To Uniswap and the DeFi market for such projects, where will the next burst point be?
Developer & Founder of MahaDAO, Steven Enamakel
DeFi is not coming to an end but rather the hype cycle on eth is coming to an end. however there is a new wave that is coming on layaer 2 and we preparing mahadao for that
Cryptodiffer Community
You recommend MahaDAO on your website that has the advantages of “Preserve Buying Power”, “Value Stable” and “Fair Wealth Distribution”. In fact, these 3 advantages are the advantages of any Blockchain. So what are the differences and highlights of MahaDAO?
Developer & Founder of MahaDAO, Steven Enamakel
So in simple terms; MahaDAO is the world’s first stablecoin platform with liquidty farming built into the protocol itself. And the points you’ve menteiond above are for ARTH; the world’s first valuecoin
Cryptodiffer Community
DeFi is booming. Defi is a trend. This has become a popular issue lately. Is mahadao just following that trend? Or are you ready to enter this space?
Developer & Founder of MahaDAO, Steven Enamakel
MahaDAO is a project that is doing something much different than others 🙂 you can have a look at our website for more info mahadao.com our goal is to lead a new trend or wave in defi which is valuecoins
Cryptodiffer Community
Interested in staking, will there be staking on your platform and in the Uniswap pool? Do you have a plan to increase the demand and scarcity of tokens?
Developer & Founder of MahaDAO, Steven Enamakel
yes; so with uniswap staking you will be able to stake uniswap LP tokens; there are three stake drop programs in place and there’s a medium article around it in our community
Cryptodiffer Community
Why add another stablecoin when TETHER and DAI are here? Why ARTH is the best and most successful stablecoin of the future?
Bear and bull markets are always fighting each other, so what will happen to ARTH when the market fluctuates strongly?
Business and Founder of MahaDAO, Pranay Sanghavi
Nice question: there are couple reasons
Firstly, Tether is centralised and we believe in decentralisation. Tether is controlled by a central authority and are also raising eyebrows from SEC, etc.
But more importantly, DAI and Tether are price stable curencies, where as ARTH is value-stable. ARTH stands for a more legitimate unit of currency that never loses its value no matter how the economy wobbles
As you know most or all fiat currencies are self-depreciatory in itself. The fact that what could buy you a radio-set in the 70s can barely buy you a cup of coffee today is not just alarming but at the same time concerning. That goes on to show that we have created an inefficient system that thrives on the very idea of inflation.
DAI and tether are pegged to USD, which is losing value. Cash is trash!
Cryptodiffer Community
So many projects like EasyFi and Injective Protocol and the rest are offering layer-2 solutions, What competitive advantage do MahaDAO have over them and what layer-2 solutions is MahaDAO targeting first?
Developer & Founder of MahaDAO, Steven Enamakel
mahadao is the first stablecoin platform with liquidty farming built into the protocol 🙂
Cryptodiffer Community
ARTH is a non-inflationary stablecoin backed by a basket of anti-correlated assets like gold and bitcoin. What happens to ARTH if the price of Bitcoin or gold plummets downward?
Developer & Founder of MahaDAO, Steven Enamakel
ARTH is backed by
80% fiat
15% gold
5% bitcoin
if fiat goes down; gold and btc goes up
if btc and goes down; fiat goes up
hence it is value stable
Cryptodiffer Community
MahaDAO community is growing, How can we user help you and How can we contribute your quota towards your success?
Business and Founder of MahaDAO, Pranay Sanghavi
The best way to contribute to community is by adopting ARTH as the currency, be it in your daily life or in your DApp. There are vraious ways we shall support you for this by contributor grants, dev and tech support, business handholding, marketing, etc
Cryptodiffer Community
Am still curious on how a coin can maintains its buying power irrespective of which direction the market moves. Perhaps you can help briefly explain how it works.
What does MAHA hope to achieve with the strategic partnership with Ferrum Network?
Developer & Founder of MahaDAO, Steven Enamakel
it is a stablecoin backed with a little bit of gold inside it 🙂 so that makes it anti-inflationary when you include it in a basket of other assets
Cryptodiffer Community
during the Covid 19 situation, did your product participate in helping people who were in this condition?
and what kind of charity is your project giving to people?
Developer & Founder of MahaDAO, Steven Enamakel
atm the product is not yet launched; but the main intention of the product is to address inflation which is something that is a big problem in today’s world esp during covid19 with the dollar and other currencies getting printed like crazy
Cryptodiffer Community
What is your vision of the future in the integration and interaction of MahaDAO with the rest of the digital economy?
How are you going to market and create demand for your MahaDAO product in this competitive crypto space?
Developer & Founder of MahaDAO, Steven Enamakel
Hopefully $ARTH will really innovate something new and show the world how innovative crypto can be; $ARTH which is a valuecoin will hopefully have a big impact in our lives; with it’s anti-inflationary properties
Cryptodiffer Community
Can you explain what is Gasless wallet?
What is the usecase?
What is the meaning of MahaDAO non-depreciating currency?
Developer & Founder of MahaDAO, Steven Enamakel
Gasless wallet is a wallet which does not require any tx fees; it lets none crypto people transact with arth without paying any gas fees; much like libra wallet
non-depreciating currency means a currency that does not lose it’s value ovre time; especially when measured against the USD
Cryptodiffer Community
Can you tell a feature or feature that you like best aboutI so that it can compete with other competitors? What are you most confident about for your platform? What is your main goal to achieve in 2020? Do you have plans to get users to choose your platform?
Developer & Founder of MahaDAO, Steven Enamakel
Yeah; the most awesome feature of mahadao is the liqudity farming being built into the protocol. and our main goal for 2020 and 2021 is to get as many partners as possible
Cryptodiffer Community
One of the foremost goals of human life is wealth creation. How will the ARTH coin create wealth for users either directly or indirectly?
Business and Founder of MahaDAO, Pranay Sanghavi
History Doesn’t repeat itself, but it rhymes — Mark Twain
ARTH is our Netscape moment because it has the attribute of scaling, rapidly while preserving the buying power. The holders of ARTH can plan their financial lives in a reliable and assured way, unlike say holders of Bitcoin, a highly volatile crypto. Most other financial instruments are either just for holding or for using, if you hold them they are volatile. If they are usable, they lose value — but ARTH is both, a medium of exchange AND a store of value. And hence, my friend, it will be useful in meeting the foremost goal of human life: ARTH – ECONOMIC PROSPERITY
Cryptodiffer Community
MahaDAO’s approach is community-centered, but how committed are they to their users? Are they employing any strategies to attract and expand the community and improve the user experience?
Developer & Founder of MahaDAO, Steven Enamakel
yes; recently our community has grown by more than 20x and we’re hoping that many more new users come onto the project after the token launch and the IDO on mid Dec
Cryptodiffer Community
MahaDAO’s mission is to create a non-depreciating currency. But the world currency is used not only as a store of value, but also as a medium of exchange. How are you going to create such a currency in such a volatile market?
Is the MahaDAO team planning to create a platform to integrate all MahaDEX, MahaLev3x products for easy access to users?
Developer & Founder of MahaDAO, Steven Enamakel
It’s better to take a step forward than to take no step at all. MahaDAO is innovating something new and different so it’ll definietly take a month or two for people to really undrestand what it’s trying to do and how it’ll fit into today’s world
Cryptodiffer Community
Can you explain more about your Staking & Governance? I’m interested in joining your MahaDAO Dao, how do I become a DAO maker and what benefits will I derive from joining?
What are the requirements to participate in the MahaDao Liquidity Farming program? Could you tell us more about the remuneration that will be paid under this program?
Developer & Founder of MahaDAO, Steven Enamakel
Early stakers & liquidity providers will get massive rewards from the various programs. for the first few months the only way to mint MAHA tokens is through these programs
Cryptodiffer Community
On your previous AMA I read that you were started with Matic and then move on other blockchain? I am curious to know while most of the new project come up with Ethereum why you decided to come up with Matic? And in which blockchain Mahadao is currently running? Do you planning to build your own blockchain?
Developer & Founder of MahaDAO, Steven Enamakel
Matic is a special partner with us; their team is super awesome and super supportive and we strongly think they’ll be the next big thing
Cryptodiffer Community
1. Can you explain the exact mechanism how you set up the GMU (type of investments) and how it helps to prevent that the value of ARTH isnt going below a certain price point when the assets lose value themselves?
2. Whats the main innovation of your project you are bringing to the crypto space in order to attract more people, considering other platforms that offer insurances for users to protect them from losses?
Developer & Founder of MahaDAO, Steven Enamakel
It is decided by a basket of assets for which we are going to be realising versin 2 of our white paper pretty soon.
Our main innovation is that we are going to be anti-inflationary stablecoin against the dollar; so ARTH will always appreciate against the dollar as “cash is trash” 🙂
Cryptodiffer Community
How does MahaDAO plan to dominate the money market? How easy is it to use ARTH coin?
Business and Founder of MahaDAO, Pranay Sanghavi
Some of the products that we can think of right now that will allow ARTH to be used very easily are:
Gasless Wallet
MahaDEX
MahaLev3x
MaticSwap
With MahaDAO & ARTH, it’s a conscious effort to solve a genuine world problem. It’s not geological, or has a niche -y. ARTH in its applications is unbounded. ARTH is for students, shoppers, tourists, businessmen, employees, passengers, institutions & governments. Anyone exchanging or storing value. ARTH is for everybody.
Cryptodiffer Community
The main difference between fiat money and cryptocurrency is trust. Everyone understands that the dollar is the world currency, and there is no doubt about its use. My question is: how to establish trust between people and the MahaDAO project for mass adoption and use of ARTH?
What is MahaDAO meta-transactions and how does it help eliminate gas charges?
Developer & Founder of MahaDAO, Steven Enamakel
We try to keep trust by:
– having our faces public
– being transparent and keeping everyhgin open soruce on github
– having a lot of credible people backing us
Cryptodiffer Community
Where did you get the inspiration for this unique project idea? And what influence will we have on the crypto industry due to the project?
Developer & Founder of MahaDAO, Steven Enamakel
The current fiat market and how screwed up the world is was our inspiration to create MahaDAO; and hopefully we can create something monumental along with they if enough people support the idea.
Cryptodiffer Community
When will the world stop being afraid to use a new kind of money? What is MahaDAO doing for the mass adoption of its money?
Developer & Founder of MahaDAO, Steven Enamakel
every 50 years money evovles 🙂 but in todays world that’s happening much faster; MahaDAO is focusing on crypto users for teh first year and then will focus on non-crypto users the year after
Cryptodiffer Community
Currently attracting real users and mass Adoption is a problem for Blockchain projects. So how will $ ARTH solve this problem?
Business and Founder of MahaDAO, Pranay Sanghavi
Yes we have been approached by prominent groups, for eg in India like Motilal Oswal, who want to integrate ARTH in their mobile app to offer along side other financial products. We shall be talking to bankbazaar, paytm money, policybazaar, etc. Since you seem to me from India am giving India-specific examples that you can relate to
We are focused on non-crypto as well as the #DeFi crypto world for adoption
With MahaDAO & ARTH, it’s a conscious effort to solve a genuine world problem. It’s not geological, or has a niche – it’s for everybody. For this very reason, I think the most immediate task at hand for us is to form as many partnerships as we can. That is the long term goal.
In the short run, we are focusing on building a full-proof product that embodies all of what we are promising & community growth.
In the medium term, integrating ARTH with other #DeFi projects, other chains and forming strategic partnerships
Cryptodiffer Community
Many people evaluate projects based on their token value, not the technologies / features the project has. How can the MahaDAO team increase educational value for their investors so that more people understand your project, rather than evaluate the project at the value of the token?
Liquidity mining, Yield farming has been a very popular concept and a strategy for DeFi projects to boostrapping nowadays, does MahaDAO has similar planning to incentivize adoption?
Developer & Founder of MahaDAO, Steven Enamakel
nice question; unfortunately many crypto investors are short term mindset but we are constantly will be showcasing progress with our project and have many content creators who’ll be creating content around teh concept of ARTH
Cryptodiffer Community
Do you have developers building DeFi protocols and Dapps on the $MahaDao platform?
Business and Founder of MahaDAO, Pranay Sanghavi
Yes we have dedicated contributor grants under the section of community grants for Dapps, etc. That being said, there are couple of current #DeFi projects and aspiring startups that have approached us to integrate arth into their ecosystem. Even some large instituions have approached us for the potential integration. We are excited for such a growth in the platform adoption
Cryptodiffer Community
Auditing plays an important intermediate role in the development of DeFi applications. What audit methods has MahaDAO applied in project development? Can you talk more about it?
Do you have a developer training program like DevCamp or a developer reward program? Why should developers switch to the MahaDAO platform? How do you support them?
Developer & Founder of MahaDAO, Steven Enamakel
1. Yes we are currently in the works of having our code audted by mulitple vendors; details of which wll be made once they’ve gone through successfully 🙂
2. Absolutely; there are many programs including a bug bountry program which we’ll make avaialble on our website, telegram and other channels shortly after the IDO
Cryptodiffer Community
Distribution” in MahaDAO, can you explain about the Investment mechanism MahaDAO provide?
What is the mechanism ARTH coin use to maintain it’s buying power in long run?
Developer & Founder of MahaDAO, Steven Enamakel
The secret is that $ARTH contains a bit of gold inside it.
No other stablecoin has gold hence this makes $ARTH anti-infationary.
Cryptodiffer Community
Lots of the new projects have rug-pulled or exit scam,
How can you assure your users MAHADAO is safe, secured and can be trusted ?
Developer & Founder of MahaDAO, Steven Enamakel
mahadao is
decentralised
open source (code on github)
have founders who are not anonymous (happy to treat you with coffee in person :))
Cryptodiffer Community
MahaDAO’s approach is community-centered, but how committed are they to their users? Are they employing any strategies to attract and expand the community and improve the user experience?
Business and Founder of MahaDAO, Pranay Sanghavi
Community is at the heart of everything we do. We are focused on going from centralised decision making to decentralised decision making. We have 70% allocation of tokens to the community! Such a large share for the community in itself speaks a whole lot about our committment to make community members the ultimate winner. From this, we shall have merchant grants, community grants, bug bounty programs, dApps and adoption grants, and a host of other exciting programs that allows the community members to be at the front while contributing to the growth of the ecosystem
Cryptodiffer Community
can you explain what is Gasless wallet?
What is the usecase?
Developer & Founder of MahaDAO, Steven Enamakel
Gasless wallet is a wallet which uses meta transactions so that the end user doesn’t need to worry about how the blockchain works; making it usable by many noncrypto non-techsavvy users
Cryptodiffer Community
Hi,
I saw that most projects have Yield Mining, Farming, Liquidity Mining,… usually facing with a big challenge about the PRICE of the tokens ! Because people only interested in SHORT TERM benefits then they DUMPED, noone of them actually CARE about the FUTURE of the projects !
Developer & Founder of MahaDAO, Steven Enamakel
Yes; So crypto invetors are short term; our plan of action and growth strategy is designed in such a way that in the long run there’s always enough room for change.
Cryptodiffer Community
What’s the functions of ARTH CDP Portal that will launched soon?
What is the development that MahaDAO will provide in Layer-2 sectors!?
Developer & Founder of MahaDAO, Steven Enamakel
it’s already live on testnet at alpha.arthcoin.com
for layer 2 we are potentially researching the possiblity of building Dapps, wallets and other ecosystem apps on other blockchains
Cryptodiffer Community
Can you tell us about the degree of Decentralization and Governance model #MahaDAO? What incentives will be there for participating in the Governance activities?
Could you tell us what economic strategies does #MahaDao use so that its currency does not depreciate and always maintains its value? In such a fluctuating DeFi world, how do you achieve this and provide stability to your users?
Developer & Founder of MahaDAO, Steven Enamakel
early adopters grt the most rewards 🙂
anti depreciation works because the stablecoin MahaDAO is creating has bit of gold inside it.
hopefully valuecoins will be the next big thing in Defi
Developer & Founder of MahaDAO, Steven Enamakel
I think that is nearly all the questions!
Cryptodiffer TEAM
Thank you for you answers, it was an insighfull session
Thank you everyone who participated, great questions as always!
