MANTRA Chain mainnet goes live with OM staking and KARMA rewards

Mantra has officially launched the MANTRA Chain Mainnet, advancing its mission to integrate traditional finance with blockchain technology. The launch marks a significant milestone for the real-world assets (RWA) platform, providing users with enhanced network security, regulatory compliance, and access to on-chain finance and tokenized assets through a robust suite of tools.

Tokenization refers to the process of converting traditional assets, like money market funds, into digital tokens that can be transferred and utilized on blockchain networks. Through MANTRA Chain, the platform seeks to simplify the process of bringing real-world assets onto the blockchain.

Effective immediately, users can bridge the OM token from ERC-20 to the MANTRA Chain Mainnet and stake it to help secure the network while earning rewards. OM will serve as the primary asset within the RWA ledger, playing a central role in the platform’s ecosystem.

Furthermore, KARMA, the project’s reputation-based rewards system, will allow users to earn rewards for positive contributions to the community by completing specific missions.

The company has emphasized its commitment to security and regulatory compliance, which will empower users and partners to actively participate in the growing RWA market. According to John Patrick Mullin, CEO of Mantra, the platform is laying the groundwork for what could be a multi-trillion dollar real-world asset economy as awareness and innovation in the sector continue to grow.

The OM token has performed well leading up to the mainnet launch, recently reaching an all-time high, with a 7,134.6% increase in value this year.

The mainnet follows a successful testnet phase in November 2023 and an incentivized testnet rollout in April, setting the stage for the platform’s full deployment. The launch has already garnered significant attention, with Mantra securing multiple strategic partnerships. Notably, in April, Mantra partnered with MAG, a UAE-based real estate giant, to tokenize $500 million in real estate assets. Additionally, the project entered into a memorandum of understanding with Novus Aviation Capital, a global aviation finance firm, to unlock RWA investment opportunities in the aviation sector.

Growing Demand for Tokenization

The tokenized asset market is seeing rapid growth, with projections estimating it could reach a $16 trillion valuation by 2030. Major financial institutions are already embracing RWA tokenization. For instance, Goldman Sachs is set to launch three tokenization projects by 2024, and State Street, the world’s largest custodian bank, is exploring the tokenization of bonds and money market funds.

As the tokenization trend accelerates, platforms like MANTRA Chain are well-positioned to play a pivotal role in shaping the future of digital finance.