KuCoin AMA With MahaDAO — Introducing the World’s First Valuecoin

2021/06/24 09:48:03

Dear KuCoin Users,

Time: June 23, 2021, 12:00-13:06 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the creators of MahaDAO, Steven Enamakel and Pranay Sanghavi, in the KuCoin Exchange Group, who shared what MahaDAO is and how it works as well as introduced the world’s first valuecoin — ARTH.

Project Introduction

MahaDAO is a community-powered, decentralized autonomous organization on a mission to empower billions to preserve their purchasing power through the world’s first valuecoin, ARTH.

MahaDAO, a dual token system having the governance token MAHA and the valuecoin ARTH, is a decentralized, interoperable stablecoin platform that is supporting ARTH, an algorithmic valuecoin that maintains its purchasing power regardless of which direction the market moves. ARTH is a non-inflationary elastic value coin that is pegged to Arth Global Measurement Unit (GMU), an index consisting of a basket of anti-correlated assets such as gold and Bitcoin, unlike the dollar and fiat currencies. It is the first of its kind, paving the way for a new world of stablecoins.

Official Website: https://mahadao.com

White Paper: https://docs.arthcoin.com

Follow MahaDAO on Twitter and Telegram.

Guests:

Steven Enamakel — Creator of MahaDAO

Steven is a computer scientist, economist, and mathematician from the University of Toronto. Steven understands technology really well and how to architect and build almost any tech product out there. He's very passionate about building products that people love and that can change the world. Steven is the mastermind behind MahaDAO.

Pranay Sanghavi — Co-Creator, Ecosystem of MahaDAO

Pranay built a respectable enterprise brand Intellibuzz from the ground-up that is a pioneer in Digital Expenses Management and Information and Communications Technology space in India. Pranay handles the business side of MahaDAO.

Q&A from KuCoin

Steven: Hey guys. Nice to be here.

Pranay: Excited to be here on KuCoin’s vibrant community - thanks for having me.

Q: Let's briefly go over the basics of the ecosystem: what is MAHA and what is ARTH? What is a valuecoin, and how is it going to grow people's wealth by taming inflation?

Pranay: MahaDAO picks up where previous decentralized autonomous organizations left off, introducing to mankind the concept of a valuecoin, as opposed to a price-stablecoin.

Unlike stablecoins, which are pegged to the US dollar, the world’s first valuecoin ARTH maintains (and even appreciates) its purchasing power regardless of wider market movements.

Governments these days are loosening up their monetary policy around the world - meaning, printing money incessantly, growing debt.

If you check the food, fuel, and other living costs in your country, it’d have risen way high since the last decade.

The ARTH token is a valuecoin, as its value endures irrespective of which direction the market moves, and it hence maintains the buying power of the holder.

MahaDAO is a dual token system:

MAHA - Governance and utility token

ARTH - World’s first valuecoin

(Similar to Maker and DAI)

Regarding inflation, most or all fiat currencies are self-depreciatory in itself.

The fact that what could buy you a radio set in the ’70s can barely buy you a cup of coffee today is not just alarming but at the same time concerning.

That goes on to show that we have created an inefficient system that thrives on the very idea of inflation.

MahaDAO proposes the solution to systemic financial inefficiency.

The erosion of the value of currencies that only seem stable made us create MahaDAO and ARTH to attain security through global norms and correct this systemic flow in our current economy.

Q: You had the ARTH valuecoin launch yesterday. Can you tell us something about that? How is it going, and what can users do?

Pranay: Yesterday’s launch was more of a soft launch as it was the Genesis event.

The launch is divided into a couple of phases. The second launch is after a week.

The soft launch was received with great enthusiasm. We launched on Matic/Polygon and Ethereum networks, receiving great comments and excitement.

The launch is happening at Arthcoin website: https://bit.ly/3xL7HhT

Steven: The ARTH Genesis is the very first event (still ongoing) that will bootstrap the ARTH protocol with collateral and will reward users who participate with NFTs and ARTHX tokens.

The ARTHX token is the third token in the ecosystem that is used to stabilize the ARTH protocol. Users who hold the ARTHX token will be able to redeem ARTH for its underlying collateral.

The Genesis is currently ongoing and will last for a week until June 29, and then after the Genesis is over, the real fun begins.

Q: ARTH 2.0 is built to be similar to another system: FRAX. Can you fill us in on how FRAX has done, how it's similar, and where ARTH 2.0 is an improvement upon their system?

Steven: FRAX is a great stablecoin and well written by the likes of Sam and others. It has done very well in the market; however, we find that there is the risk of the coin collapsing due to the fact that the protocol is under-collateralized.

ARTH 2.0 is an improvement simply because the protocol is over-collateralized to the tune of 110%, which means there will be no chance of having a bank run what had happened with IRON finance.

Q: Now that we've covered the basics of ARTH 2.0, it's my understanding that there will be more products within the ecosystem that build off of ARTH. Can you tell us about these, such as MahaLend, for example?

Steven: So yes, once ARTH has launched and is on its own ground, then comes phase 2, which is integrations and building more products on top of the ARTH protocol.

MahaLend - is a decentralized under-collateralized lending protocol that will allow users to take on leveraged positions on cryptocurrencies using ARTH as collateral.

Interest-Free Loans - is a MakerDAO vault that will allow users to deposit collateral and take out loans in the form of ARTH.

And gasless wallet - is a simple, user-friendly wallet that will allow users to make transactions without worrying about gas fees or understanding what the blockchain is about. The gasless wallet is what makes ARTH easy to understand for lay people.

Q: Keeping the most important at the end, can you tell us how and where the MAHA token fits in all this? The token that is listed on KuCoin and the one that's the center of the entire ecosystem. MAHA tokenomics, network effects, etc.

Pranay: As the name suggests, MahaDAO is a DAO. Thus, it features 2 tokens - MAHA and ARTH.

Much like the governance system in MakerDAO which is powered by the MAKER token, in MahaDAO, the ARTH ecosystem is powered by the MAHA token.

However, MAHA token has a super awesome tokenomics, which is stretched across a decade - yes, a 10-year tokenomics.

MAHA is the governance and utility token that regulates the ARTH valuecoin.

It’s a limited supply token (10m) that is by nature and by design slated to increase value for the holders and empower them with decision-making for the ARTH token.

The token MAHA did wonders in our IDO in December 2020, creating epic history and a template for community launch that 100% of the projects are using today, including all the tokens listed on KuCoin after December.

That comes from the fact that Steven and I are both believers in the concept of a DAO. The MAHA token in IDO not only defeated the bots for the first time in crypto history but also genuinely gave the community a chance to invest in the future of their financial freedom.

MAHA tokenomics can be found here: https://mahadao.com/tokenomics.html

Q: Circling back… Please do share how people can participate in the ARTH Genesis. How will ARTH and ARTHX be distributed? What are the benefits of holding all - ARTH, ARTHX and MAHA?

Steven: Sure, that’s the easiest one.

Users can participate in the ARTHX/ARTH Genesis by simply visiting arthcoin.com and depositing collateral like so.

Pranay:

Steven: This diagram explains brilliantly how to participate in the genesis.

Users who deposit collateral not only get ARTHX with a bonding curve discount but also will stand a chance to win some exclusive NFTs.

Free-Ask from KuCoin Community

MahaDAO's Marketing Head Gafoor Khan and Community Moderator Urvesh also joined the AMA session.

Q: Can you tell us where I can get the ARTHX token?

Steven: You can get the ARTHX token by participating in the genesis event, which is happening over at arthcoin.com

Q: Steven, you mentioned, “The ARTHX token is used to stabilize the ARTH protocol” and FRAX is a stablecoin too. Could this be a repeat of the situation with Iron (Titan token)? Is it safe for that kind of attack?

Steven: No, it won’t be a repeat of IRON/TITAN because the protocol is over-collateralized to the tune of 110%.

IRON/FRAX are both susceptible to bank runs; hence, this won't be the case.

Q: It was said ARTH was one of the first currencies that would not only protect people's wealth but would also value socially. How does ARTH protect people's wealth and social value in this wide social reach? Also, what is the benefit of swapping ARTH to ARTHX?

Steven: The swap is just for the initial circulation of ARTHX during the genesis; after the genesis is over, then ARTH starts coming into the spotlight.

Q: What system does MahaDAO use to maintain the stability of $ARTH? Will it be a currency with an elastic supply? How do you prevent users from losing purchasing power? And how is ARTH considered to be capital efficient when it’s over-collateralized?

Pranay: So the CR is not 150-200+%, which is what most stablecoins like DAI are backed with; it’s more on the lower end, which is 110%.

ARTHX is the dynamic part. So every 1$ worth of collateral will mint 0.9$ worth of ARTH and 0.1$ worth of ARTHX (depending on the price).

For us, anything below 100% collateral is suicide (FRAX, Titan, UST, and others). So capital efficiency comes to at least 110%.

The collateral-backed model keeps ARTH stabilized to the peg of GMU. And as you know, ARTH is backed by the basket of assets:

80% fiat

15% gold

5% Bitcoin

If fiat goes down, gold and BTC go up.

If BTC and gold go down; fiat goes up.

Q: Could you please update some hot news or big events of $MAHA to the community?

Pranay: Yes! Head over to:

MahaDAO Telegram: https://bit.ly/2SOZquB

MahaDAO Twitter: https://bit.ly/3j2UJYz

So much exciting stuff is going on there.

Gafoor: And of course the ARTH coin website where the Genesis is live from June 22-29: https://bit.ly/3xL7HhT

Q: $MAHA is a governance token of MahaDAO project. Then why does this project need 2 more tokens: $ARTH $ARTHX? What is the difference between those 3 tokens, and which token should we buy?

Steven: So the reason for three tokens is because each token plays a very different role. Mixing some of them could negatively impact the protocol.

MAHA - Governance token; used to secure the protocol

ARTH - The stablecoin/valuecoin

ARTHX - The token to absorb the volatility of ARTH

Q: As a KuCoin user, if I hold MAHA on KuCoin, can I get the ARTHX airdrop?

Steven: Ideally, you should be holding MAHA in your ERC20 wallet to be getting the ARTHX airdrop.

Q: How do you plan to spread awareness about your project in countries/regions where English is not spoken well, like Indonesia, Vietnam, India, Bangladesh, and Iran? Do you have local communities for them to make them better understand your project?

Pranay: We already have an official MahaDAO Vietnam community, starting other communities soon, and educational materials translated into various languages, including multiple Indian languages.

Q: What is MAHA?

Pranay: MAHA is greatness, monumentalism, magnificence.

Q: The roadmap for wide adoption within crypto is amazing. What role do you see for ARTH in the wider world outside crypto? And against what timeline?

Pranay: In 3 months, you’d see ARTH for 747,000,000 citizens of the UK and EU in a banking ecosystem called Scallop. (visit ScallopX.com)

Q: What is the current stage of MahaDAO?

Pranay: MahaDAO is launching ARTH next week (Events are on).

Please check our roadmap at https://bit.ly/2Umahwe.

Q: Please tell us the biggest milestone you have ever achieved and also your future milestone?

Pranay: Many of them, aside from the various partnerships, the ARTH launch.

E.g., incubations. MAHA is incubating the world’s first #DeFi bank - regulated and approved by FCA. It will bring ARTH to millions of citizens around the world.

Q: Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like yours?

Pranay: The idea of what MahaDAO is today has been cooking at our labs for more than a couple of years now.

But, now that we think of it, consciously or subconsciously, we as creators have always found ourselves wrapping our heads around fighting depreciation and loss of value with a lot of mediums of exchanges that we see today.

The erosion of the value of currencies that only seem stable made us create MahaDAO and ARTH to attain security through global norms and correct this systemic flow in our current economy.

Q: When it says, “MAHA token in IDO not only defeated bots for the first time in crypto history”, what bots do they refer to?

Pranay: Before December 2020, the community sale used to be plaqued by bots.

MahaDAO’s IDO, for the first time, created a framework, a methodical approach, to selecting, form filling, community enrolment, and whitelisting, apart from verifying each of the thousands of applications on Telegram/Twitter.

The MAHA IDO was magnanimous and brilliant in the history of the crypto industry. Not a single bot and all the community members were ecstatic having got a genuine chance to participate, rather than being (front) run over by bots.