MahaDAO, a decentralized autonomous organization (DAO) governed by its users, the MAHA community, today announces the launch of an Initial DEX Offering (IDO) for their governance token – MAHA.
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.”
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MahaDAO picks up where previous decentralised autonomous organizations (DAOs) left off, introducing the concept of a valuecoin, as opposed to a stablecoin. Unlike stablecoins 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.
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The Global Measurement Unit – GMU
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:
80% Global Fiat Currencies
15% Gold
5% Bitcoin
Hence, if fiat goes down; gold and btc goes up and if btc and goes down; fiat goes up. As a result, it is value stable. Over time, there is unlimited capacity to add new assets to the basket.
A valuecoin is timely, the recent COVID-19 pandemic has had a devastating economic effect, exacerbating/compounding the increasing debt burden of the global economy In the US, for example, national debt now stands at a staggering $26.7 trillion. This addiction to borrowing is driven by weak economic growth, leading central banks to continually squash interest rates and engage in s