{"id":147575,"date":"2021-12-16T15:07:14","date_gmt":"2021-12-16T15:07:14","guid":{"rendered":"https:\/\/precoinnews.com\/?p=147575"},"modified":"2021-12-16T15:07:14","modified_gmt":"2021-12-16T15:07:14","slug":"mahadao-founders-buyback-100000-maha-at-an-average-price-of-3-4","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/mahadao-founders-buyback-100000-maha-at-an-average-price-of-3-4\/","title":{"rendered":"MahaDAO Founders Buyback 100,000 $MAHA At An Average Price Of 3.4$"},"content":{"rendered":"

Tortola, BVI, 16th December, 2021, <\/strong><\/span><\/p>\n

The MahaDAO founders, Steven Enamakel and Pranay Sanghavi have recently bought back a large chunk of $MAHA from various private sale investors in a bulk OTC transaction. The deal was led by Simon Dedic from Moonrock Capital, allowing the founders to have a more vested interest in the project.<\/p>\n

The deal marks a new beginning for MahaDAO as the project begins to take new heights with the launch of its valuecoin ARTH, a stable cryptocurrency that beats inflation in high inflation countries like Venezuela, Argentina, Turkey through its open-source mobile app.<\/p>\n

Since the launch of the MAHA token in December 2020, MahaDAO has seen a high inflation rate of 2% of MAHA supply per month. However, this inflation rate reduces to 0.6% per month from December 2021, as private sale investors stop receiving token unlocks, making the MAHA token more scarce.\u00a0<\/p>\n

Due to the high volume of this trade which accounts for roughly 3% of the MAHA circulating supply, the MahaDAO team will be able to protect the governance of the DAO from any malicious whales.<\/p>\n

\u201cWe are incredibly grateful to Simon Dedic and the Moonrock team for allowing us to become more vested in what we are building. As founders, we have a long-term outlook for the project and this deal ensures that we can protect MahaDAO\u2019s governance for the long term. We are grateful that VCs like Simon also share a long term vision for MahaDAO” – Steven Enamakel, MahaDAO<\/p>\n

\u201cWe have worked with the MahaDAO team for more than a year now and fully believe in their capabilities to execute on their vision. As its crucial for their DAO to become as decentralised as possible, we decided to sell a majority of our MAHA holdings back to the team, to be more vested in their success, while still having a significant exposure left. We will continue to support the project to become one of the leading DeFi projects in this space.\u201d – Simon Dedic, Moonrock Capital\u00a0<\/p>\n

About MahaDAO<\/b><\/p>\n

MahaDAO<\/u> is the DeFi project behind algorithmic valuecoin ARTH. The valuecoin gives holders’ financial freedom with zero volatility, as it is value-stable and controlled by its community via a separate governance token, with holders able to vote on savings rates, stability fees, direction, strategy and future developments for the ARTH token.
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