MANTRA DAO appoints Hex Trust as their digital asset custodian
The community-governed DeFi platform, MANTRA DAO, has appointed Hex Trust, Asia’s leading institutional digital asset custody provider, to be its custodian for its fundraising campaign. This collaboration is initiated amidst an effervescent fundraising campaign that saw the MANTRA DAO Pre-Membership Offering whitelist 6 times oversubscribed in a matter of days.
Headquartered in Hong Kong, Hex Trust provides licensed bank-grade custody solutions in collaboration with IBM for institutional clients.
As pointed out by John Patrick Mullin, Co-Founder and Council Member at The MANTRA DAO Foundation: “The safeguarding of cryptocurrency assets is an infamous problem in the blockchain industry and one of the most commonly cited reasons that prevent the entry of institutional capital into the industry.”
Hex Trust will store and secure all the funds raised by the MANTRA DAO Foundation
Over the last three months, the blockchain and cryptocurrency industry has witnessed a surge of investors’ interest spurred by the explosion of decentralized financial services platforms (or DeFi) and a tremendous appreciation in the value of the tokens underlying those services. And this, according to Mr. Mullin is but another reason to collaborate with a top licensed custody solution provider: “As DeFi services receive more and more attention we must elevate the industry’s standards and adopt an uncompromising approach of our users’ assets security. Looking at Hex Trust’s track record and client portfolio, this partnership appeared like a no brainer.”
Hex Trust’s CEO, Alessio Quaglini, had this to say about the partnership, “We are very excited to work with one of the most anticipated DeFi projects of the Summer and provide them with an institutional-grade custody solution. We will be looking at integrating their OM token onto our platform together with other staking and governance functionalities in a second phase, incorporate their OM token into our institutional-grade custody solution.
MANTRA DAO’s initiative is the latest chapter in the emergence of blockchain-based solutions akin to disrupt the FinTech industry. The MANTRA DAO Initial Membership Offering (IMO) is scheduled to start on August 1st and the OM token listing is set to coincide with the MANTRA DAO platform launch at the end of summer.
About Hex Trust
Hex Trust is the leading digital asset custodian for the banking sector. The platform, Hex Safe, provides compliance-focused custody infrastructure, deployment flexibility, and seamless integration with third-party service providers in the ecosystem such as exchanges, OTCs, lending, and staking platforms. Headquartered in Asia, Hex Trust is fully licensed and has offices in Hong Kong, Singapore, Vietnam, and Germany.
About MANTRA DAO
MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance.
MANTRA DAO leverages the wisdom of the crowd to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to grow wealth together.
