MonolithosDAO is an autonomous, fully decentralized organization built on the Ethereum blockchain. The project was launched in 2020 and is based on the MakerDAO protocol. MonolithosDAO is an open source project, you can view the code on the project’s Github


About the MonolithosDAO platform

There are two types of tokens implemented on the MonolithosDAO platform: MDT (government token) and MCR (crypto ruble stablecoin). The project is fully managed by MDT token holders. The decision-making process is carried out through MDT holders voting and polling, which ensures stability, transparency and efficiency of the system. The number of votes is proportional to the number of MDTs that the voting participant sends to the voting contract.

Key platform elements:

  • MonolithosDAO storage
  • oracles (Oracles)
  • voting

MCR generating

The MonolithosDAO platform allows anyone to generate the MCR cryptocurrency — this one is the stable cryptocurrency that is not issued or controlled by any centralized authority. MCR is the unit of account of the MonolithosDAO system, and its exchange rate is pegged to the Russian ruble in a 1:1 ratio.

All MCRs have redundant collateral, which is added to the addresses of verified and publicly viewable smart contracts in Ethereum.

Self-regulation of the system

MonolithosDAO is based on a scientific management system of voting and polling. The system is transparent and designed in such a way that its participants voluntarily maintain the stability of the MCR coin. This state of things is achieved through certain incentives that push participants to make decisions that are beneficial for the network. In particular, when the rate decreases, participants take actions that contribute to its increase, and vice versa. This is the main principle of the DAO: DAO is not a legal entity and is managed by a team of its investors who are interested in the development and expansion of the system — in particular, in the growth or maintenance of the value of the DAO’s internal currency, its tokens.

MonolithosDAO team

The MonolithosDAO team is part of the global MonolithosDAO community. Together with a number of external partners, the team developed and launched the platform and is currently working on developing the MonolithosDAO community in order to bring the project to full decentralization according to the model described above.

Links and materials