GateLive AMA Recap-MarsDAO

2023-03-02, 06:42

[//]:content-type-MARKDOWN-DONOT-DELETE

## MDAO is used for 3 fundamental purposes, as a DeFi return supplement, blockchain tools and analytical products and introduction of deflationary tools. Could you give more explanation?
**Mike Kirillov(Business Development Lead):**
Thank you for the question. You are correct, we have 3 key aims:
-To Bring transparent profit into the cryptocurrency market for token holders;
-To Facilitate interaction with a rapidly developing market;
-To Solve the inflation issue through the MDAO deflationary model;

Therefore, we have burnt more than 1.5 million dollars worth of tokens just within a year as all our products have deflationary mechanisms.

## How does the the MarsDAO deflationary model solve the inflation issue？
**Mike Kirillov(Business Development Lead):**
Well, everytime we get a profit from either commissions of our defi products or sales of educational courses or board game, we buy our MDAO token from the market and then transfer this amount to a null address, so anyone has not an access to these tokens. Therefore, less tokens are circulating and since the emission is limited and max supply has been achieved, MDAO becomes more scarce resource, so its supply is lower.

## What’s the token economy of MarsDAO’s MDAO token?
**Mike Kirillov(Business Development Lead):**
The economy is as follows: you buy and hold MDAO. We introduce to you many ways to use your tokens: you may stake it on our platform either to receive more MDAO as rewards if you hold our loyal NFT or you may receive tokens of our partners. Also you may invest in early-stage crypto startups backed by top funds through our telegram wallet bot.

Another tool is to hold MDAO and receive discounts for products of our ecosystem or our partners on the MDAO Lifestyle section on a website. This month we’ll plug an option to buy any travel ticket or make a booking for crypto. We launched an NFT collection with Sidus Heroes metaverse that was sold for MDAO, so our users could onboard to their platform and start earning.
## Your ecosystem contains 15 launched and 5 launching products. What's the latest updates over there?
**Mike Kirillov(Business Development Lead):**
 In the Q2 this year, we plan to release the game **Cosmic FOMO and the Swipe2Trade platform.**
 
**Cosmic FOMO** is a game in which game characters, namely pilots, are minted from NFT in the <a href="/uk/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a> Smart Chain network. Owning a character, the user can participate in races and earn in-game tokens.

**Swipe2Trade** is a social trading platform where recognized experts share tips and their own predictions, while users can track and repeat trades of any expert.

## Could you share with us what next steps will be taken in the future?
**Mike Kirillov(Business Development Lead):**
We’ll add more utilities to our users, develop MDAO Lifestyle program incentives, add more features to new products such as Cryptomention, Cosmic FOMO, Swipe2Trade, 12Swap.

Also we’ll update MDAO Wallet, WhatToFarm, add other courses to our academy and many other changes are coming. Just follow us on Twitter and Telegram.

Click here to review the lIve AMA>>[AMA-MarsDAO（DeFi）](https://www.gate.io/live/video/2fd9fc417529995d9981a7030c2b8cb5 "AMA-MarsDAO（DeFi）")

<div class="blog-details-info">
<div>Author:** GateLive**, Gate.io Team
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

Поділіться