<strong>[PRESS RELEASE – Tortola, BVI, 16th December 2021]</strong>
The founders of MahaDAO, Steven Enamakel and Pranay Sanghavi, recently bought back a large part of MAHA from various private sales investors in a major OTC transaction. The deal was led by Simon Dedic of Moonrock Capital, which allowed the founders to have a stronger interest in the project.
The deal marks a fresh start for MahaDAO as the project has been stable with the launch of its Valuecoin ARTH Cryptocurrencywho the inflation hit new heights in hyperinflationary countries like Venezuela, Argentina and Turkey via their open source mobile app.
Since the introduction of the MAHA token in December 2020, MahaDAO has recorded a high inflation rate of 2% of the MAHA offer per month. However, this inflation rate will be reduced to 0.6% per month from December 2021, as private sales investors no longer receive token activations, which means that the MAHA token is becoming scarcer.
Due to the high volume of trade, which is approximately 3% of the circulating MAHA supply, the MahaDAO team will be able to help the government of the DAO protect from malicious whales.
“We’re incredibly grateful to Simon Dedic and the Moonrock team for allowing us to get deeper into what we’re building. As founders, we have a long-term perspective for the project and this deal ensures that we can protect the governance of MahaDAO in the long term. We are grateful that VCs like Simon also share a long-term vision for MahaDAO ”- Steven Enamakel, MahaDAO.
“We have been working with the MahaDAO team for more than a year and we firmly believe in their ability to implement their vision. Since it is vital for their DAO to become as decentralized as possible, we made the decision to return a large part of our MAHA holdings to the team in order to be more involved in their success, while continuing to have a significant amount of commitment. We will continue to support the project, one of the leading DeFi-Projects in this area. ”- Simon Dedic, Moonrock Capital.
MahaDAO is the DeFi project behind the algorithmic Valuecoin ARTH. The Valuecoin gives the holders financial freedom without volatility, as it is stable in value and is controlled by its community via a separate governance token, whereby the holders can vote on savings rates, stability fees, direction, strategy and future developments for the ARTH token.
Source: Crypto News Deutsch