AMA Session Between Matic Network and Mahadao

Hello everyone, it’s Precious and in this article, I will be giving you a rundown of the AMA session done between Matic Network and MahaDAO

It was hosted by Arun Phillips from the Matic Network Marketing Team and few questions were thrown to both Steven Enamakel — CEO Mahadao and Pranay Sanghavi- Co-Founder Mahadao

The conversation went thus:

It was hosted by Arun Philips and few questions were asked thus,

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Arun Phillips | Matic Network: Let’s get started! Hello Steven Enamakel and Pranay Sanghavi, welcome to the Matic community. Could you please tell us a little about yourself and MahaDAO?

Steven Enamakel |Mahadao: hello all! So to start with intros; My name is steve and I’m the cofounder of MahaDAO and a bit fan of matic network and the team behind Matic; I’ve been coding since i was 6 and have been deep into blockchain since the last 5 years

Pranay Sanghavi |Mahadao: Sure, my name is Pranay Sanghavi, and I’m the CoFounder — handling the business, ecosystem and investment side of things in MahaDAO.

A quick background: I started my first company when I was 19, while still in college, in telecom & networking. Setup 9 sites in Mumbai with over 7000+ business customers and exited all of them within a period 3 ~ 5 years. I have close to 20 years serial entrepreneurship experience starting, advising and scaling up multi-million dollar enterprise including Fortune 500 Corporates in Information and Communications Technology Businesses.

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Arun Phillips | Matic Network: Thanks for sharing your intros guys. Can you tell us a little about MahaDAO?

Pranay Sanghavi |Mahadao: MahaDAO picks up where previous decentralised autonomous organizations left off, introducing the concept of a valuecoin, as opposed to a stablecoin.

Unlike stablecoins which are backed by the US dollar, the world’s first valuecoin ARTH 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.

This novel approach to crypto finance creates a situation where ARTH is not only viable as a long-term store of value, but due to its ability to retain value in the face of fiat inflation, can also be used as a reliable, timeless unit of purchasing power.

Steven Enamakel |Mahadao: Yes, MahaDAO is a matic first stablecoin platform that is building the world’s first valuecoin.

Pranay Sanghavi |Mahadao: And this first value coin is gonna go live on our own Matic Chain

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Arun Phillips | Matic Network: Sounds super exciting! I can see there is a strong focus on the community and empowering people at MahaDAO. Can you tell us a little about the thinking at MahaDAO and how you are empowering the community?

Pranay Sanghavi |Mahadao: Yes that is correct -and we like to believe that there’s no central team behind MahaDAO.
It’s a community effort and we are all simply the most active members of the community. If there was somebody from the community who put in more effort than anybody in this room, he’d be sitting here.

Steven Enamakel |Mahadao: Yes for sure! I think there’s no clear way to showcase our support for our community than our upcoming IDO; where we are manually reviewing each and every applicant that is going to particiate in our IDO right from start to finish;

Our community is now really strong and we hope that this project will succeed with all of their support

Pranay Sanghavi |Mahadao: Some ways you can see the focus around community is like the allocation to community (70%), tomorrow’s IDO whitelisted for community members, and other programs, schemes and grants around community empowerments

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Arun Phillips | Matic Network: That’s incredible to hear, that anyone can participate and reap rewards. That’s the beauty of crypto! You mentioned the IDO, can you tell us a bit more about the MahaDAO IDO and the different tokens on the platform?

Steven Enamakel |Mahadao: Yes for sure! The MahaDAO IDO will be amongst the first ones without any bots whatsoever; giving actual humans (people like you) to participate in our sale in an anonymous decentralised way.

It’ll be held on polkastarter tom at 3pm GMT and we’re super excited for it. We have more than 2000 applicants and are super proud to say that there are so many genuine people who are looking forward for the sale; that we’re very (humbly) overwhealmed

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Arun Phillips | Matic Network: That’s awesome to hear, all the best for the sale! We’re hoping it goes amazing. What are the major milestones MahaDAO has achieved so far and what can we expect from you guys in the future?

Steven Enamakel |Mahadao: So the first milestone is ofc the support of the Matic ecosystem. Matic has been the main reason for all this growth and for us to foresee such a huge vision. Our product launched a beta on the matic testnet succesfully and we are looking for an amazing product launch post December.

Arun Phillips | Matic Network: that’s so cool! I’m sure the Matic community can’t wait to use what you’ve built

Pranay Sanghavi |Mahadao: the most important milestone in my view would be when MahaDAO is successfully launched on Matic mainnet early January and creating the world’s first valuecoin, emerging from Matic Blockchain — would be a proud moment for both our communities

Steven Enamakel |Mahadao: absolutely this; Matic first; Ethereum, Elrond everybody else second

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Arun Phillips | Matic Network: Very true! Would definitely be a proud moment for both our communities. Can you tell us a little bit about how your experience was building on Matic and what are the advantages of MahaDAO working with a Layer 2 like Matic?

Steven Enamakel |Mahadao: Man Matic was such a breeze, the tech is not only really simple (just a few RPC urls to change) the coolest thing was how easy it is to collaborate with other matic projects.

Like our first partner was EasyFi; one of Matic’s first major launches. So we have a few more partnerships that we keeping aside post the IDO

Pranay Sanghavi |Mahadao: Matic Network is one of our foremost partners in the entire journey way back before even the name MahDAO or Arth was set.

The fact that we chose Matic over any other network is because

1) Matic is way too cost-effective than any other blockchains out there &

2) a strong support team with founders themselves always ready to jump in to help.

When we were thinking about creating MahaDAO, that is, around 2+ years ago, Matic was just starting out & we always had in our minds to collab with Matic for a project like this.

Steven Enamakel |Mahadao: Yes for sure! I think there’s no clear way to showcase our support for our community than our upcoming IDO; where we are manually reviewing each and every applicant that is going to particiate in our IDO right from start to finish;

Our community is now really strong and we hope that this project will succeed with all of their support

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Arun Phillips | Matic Network: I’m sure our tech team will be really happy reading your messages. Alright let’s talk about the future. What will the future of MahaDAO after the IDO and how will governance look like?

Steven Enamakel |Mahadao: absolutely; you guys have come a long way. MahaDAO is an incentivised stablecoin platform, so we hope to see major growth and compete with other stablecoins that are out there. Ofc our own stablecoin is very unique; ARTH is the world’s first valuecoin. But overtime we’d like MahaDAO and ARTH be something that can one day become mainstream and not just with crypto geeks

Pranay Sanghavi |Mahadao: All I can say is: the future is bright! the future is ARTH. Adoption is our most important goal in the future

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Arun Phillips | Matic Network: Very interesting! Great to see the long-term thinking and vision. We’ve seen so many DAOs this year. What are the advantages of MahaDAO’s approach to DAOs compared to the many models of DAOs we’ve seen?

Steven Enamakel |Mahadao: The main difference in our approach is our IDO. we are okay if our IDO does not sell out in a few seconds Because we want as many people in our IDO rather than bots. So by doing an IDO we allow really great people to back our project early on and that’ll lead the project hopefully to great heights and ofc the team itself is experienced and have learnt from others; over 50+ different crypto projects we’ve studied and some have even worked with

Pranay Sanghavi |Mahadao: as I wrote above, MahaDAO picks up where previous decentralised autonomous organizations left off, introducing the concept of a valuecoin, as opposed to a stablecoin. moreover, aside from the product part, the genuine focus and community interest at the heart of MahaDAO is akin to living the philosophy of a decentralised autonomous organisation, where there is no CXO suite calling the shots — our roadmap from Q3 2020 is to start handing over the decision making to the community

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Arun Phillips | Matic Network: that’s great! Bots are definitely a huge issue in this space. awesome, can’t wait to see how you guys grow!

Steven Enamakel |Mahadao: Yup; community will lead MahaDAO and today we’re so grateful to the community that is there today

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Arun Phillips | Matic Network: Before we move on to the Quiz, I think there are many in the community who would love to join the MahaDAO community and stay up to date with all the news. What’s the best way to keep in touch?

Steven Enamakel |Mahadao: Every member is most welcome to join MahaDAO — and esp with Matic passport, its a VIP member

MahaDAO Handles:
Telegram: @MahaDAO
Twitter: https://twitter.com/TheMahaDAO

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The AMA session was one of the best as attendees were satisfied with the answers gotten during the AMA session

For More Information about Matic Network
Website: https://matic.network/
Whitepaper: https://matic.network/matic-litepaper.pdf
Telegram Group: https://t.me/maticnetwork
Twitter: https://twitter.com/maticnetwork
Github: https://github.com/maticnetwork
Medium: https://medium.com/matic-network

Content Creator || Blockchain Ambassador || Public Speaker