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MahaDAO, a decentralized autonomous organization (DAO) governed by its users, the MAHA community, has announced the launch of an Initial DEX Offering (IDO) for the MAHA governance token.
MAHA is a governance and utility token that regulates ARTH, the world’s first non-depreciating cryptocurrency.
Explaining what the MAHA Token stands for, Pranay Sanghavi, Business Co-Founder of MahaDAO said, “Given the global economic climate, we in the MAHA community wanted to architect and create an asset that protects the buying power of holders. MAHA, as the name signifies, refers to a monumental characteristic, which the MAHA governance token embodies. MahaDAO aims to create the world’s first value stable coin – ARTH, designed to fight depreciation of wealth and help people pay less for more.”
MahaDAO picks up where previous decentralized autonomous organizations (DAOs) left off, introducing the concept of a valuecoin, as opposed to a stable coin. Unlike stable coins which are backed by the US dollar, the ARTH valuecoin is backed by a basket of uncorrelated assets in the ARTH vault and maintains (and even appreciates) its purchasing power regardless of wider market movements.
The mechanism of the protocol is built to initiate an automatic rebalancing logic, so if one asset depreciates in buying power, the other asset will appreciate; keeping the net buying power of the coin stable.
MahaDAO is one of the most unique projects to emerge from the cryptocurrency space since the creation of Bitcoin itself, as it aims to return the global monetary landscape to a transparent, standardized unit of purchasing power; not witnessed since the days of the gold standard.
The Global measurement unit (GMU) consists of several assets some of them are traditional, well-known financial assets and some are new age, digital financial assets. ARTH is backed by:
1. 80% Global Fiat Currencies
2. 15% Gold
3. 5% Bitcoin
Sanghavi further outlined the role of a public sale for MAHA tokens, “This Initial DEX Offering of USD 125,000 will provide the organization with resources to deliver on the promise of MahaDAO: to empower billions with a shield to protect from inflation and depreciation of FIAT currencies. The sale also allows investors and early adopters to access the ARTH universe. By participating in the IDO, the public is taking ownership in the project’s future, and benefit from a limited time fixed price, a potentially golden opportunity given the interest MahaDAO has garnered so far.”