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: (i) a Development arm building applications and tooling to improve users’ experiences and opportunities across the Kujira ecosystem, and (ii) 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 Activities
Development
MantaDAO’s first product is MantaSwap, a multi-hop router for FIN which enables users to find the optimal route to swap any input token to any output token (as opposed to being limited to trading within the pairs listed on FIN, e.g. wETH-USK) and capture arbitrage between pairs listed on FIN. Swaps conducted on MantaSwap charge a 0.1% fee that goes to MantaDAO’s treasury. MantaSwap has been integrated as the default swapping interface on Sonar (Kujira’s mobile app) and will be integrated to Kujira web apps in the near future.
Several other products are in the making, including: various custom market-making vaults that will place orders on FIN and complement BOW (Kujira’s first AMM built on top of FIN); a DAO Platform allowing any project to easily launch a DAO on Kujira and manage its treasury (based on MantaDAO’s own governance smart contracts); various vaults leveraging other pieces of the Kujira infrastructure such as the liquidation engine Orca, and the money market Ghost. Each of those products will generate fees for MantaDAO.
Market Making
There is a total supply of 100m MNTA with 15.6m circulating. The remaining 84.4m 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. Methods of funding include mutually beneficial treasury swaps, public OTC deals, bond sales, etc.
As of 2024-12-13, we managed to accumulate ~$3.3m worth of POL spread across 43 LPs.
