MANTRA Launches Mainnet, OM Launches Staking Onchain
MANTRA has officially launched its institutional-grade Layer 1 blockchain on the mainnet. This allows the network to bring tokenized real-world assets (RWAs) on-chain.
The launch will bring the network's native OM token from ERC-20 to the MANTRA Chain Mainnet, allowing access to future RWA drops.
The MANTRA OM token remains stable
In the year It was a positive year for Mantra, with the network raising over $25 million in 2024. OM token has seen great growth throughout the year.
The OM token is the centerpiece of the MANTRA RWA ecosystem. With this mainnet launch, users can now mine OM to secure the network and earn on-chain rewards.
John Patrick Mullin, CEO of MANTRA, said in a press release with BeCrypto: “We are excited to open up our network and officially welcome industries, partners and projects that want to collaborate and build the future of RWAs.”
However, despite the mainnet launch on Wednesday, the OM token remained mostly stable. In the last 24 hours, it has decreased by 0.51%, currently trading at $1.40.
Read more: What are Tokenized Real-World Assets (RWA)?
Nevertheless, the RWA tokenization industry has expanded significantly this year. RWA tokens account for 0.33% of the total crypto market, with a total market cap of nearly $7.75 billion.
MANTRA is the largest player in this sector, with a market capitalization of $1.2 billion, closely followed by ONDO.
Meanwhile, there is a growing interest in introducing real-world assets from institutional players in various industries. Recently, Legal & General, a London-based pension and investment management firm with $1.5 trillion in assets under assets, announced plans to enter the RWA ecosystem.
Read more: How to invest in real-world crypto assets (RWA)?
If successful, L&G will join companies like Ripple Labs, which have already begun exploring tokenized bonds, money market funds and other financial instruments.
US-based State Street has begun experimenting with tokenized bond and money market funds. These events demonstrate the growing use of blockchain technology in institutional finance.
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