MANTRA

Mantra is the native staking coin of MANTRA Chain, an EVM-compatible Layer 1 blockchain that the project positions around real world asset tokenization and compliance-ready infrastructure.

The MANTRA token traces back to OM, which the project says launched in 2020 as an ERC-20 token on Ethereum with a hard cap supply of 888,888,888. The project later built MANTRA Chain and adopted OM as the chain’s native staking coin following a community proposal.

Initially built on Rio Chain, a Substrate-based blockchain designed for compatibility with the Polkadot ecosystem, MANTRA aims to address limitations in existing DeFi platforms, such as interoperability and governance inefficiencies. MANTRA’s infrastructure incorporates tools to support decentralised identity (DID), Know Your Customer (KYC), and Anti-Money Laundering (AML) compliance.

The network’s token underwent a ticker transition and redenomination tied to a 1:4 token split where 1 OM became 4 MANTRA and the maximum hard cap became 10,000,000,000 MANTRA.

MANTRA Chain documentation describes the token as the network’s native staking coin used within the chain’s proof-of-stake security model, with different applications.

• Governance: MANTRA holders can vote on proposals that affect the MANTRA ecosystem. Proposals may relate to economic parameters, platform development, new asset support, or DAO operations.

• Staking: Users can stake MANTRA directly or through derivative tokens (e.g., omDOT), with rewards based on performance and engagement.

• Lending and Collateral: MANTRA is used within MANTRA's lending systems and can be pledged as collateral for loans.

• Access to MANTRA POOL: MANTRA must be burned to participate in weekly MANTRA POOL drawings, which distribute staking rewards.

The project also describes MANTRA Chain as targeting DeFi and RWA tokenization, with cross-chain interoperability and support for both permissionless and permissioned application designs that can align with regulatory requirements.

MANTRA was co-founded by:

• John Patrick Mullin – A fintech entrepreneur with experience in investment banking and blockchain advisory, including roles at trade.io and Tritaurian Capital.

• Rodrigo Quan Miranda – An entrepreneur with a background in investment banking and blockchain infrastructure, also co-founder of Immutable Technologies Corp.

• Will Corkin – A fintech and blockchain product strategist involved in the launch of multiple blockchain ventures, including work in the tokenised securities market.

MANTRA Chain documentation states:

At genesis the chain minted 1,777,777,776 OM mainnet staking coins including a mirror of legacy ERC-20 OM supply plus additional allocations for ecosystem, contributors, investors and incentives

The 1:4 split converted OM to MANTRA and set a maximum hard cap of 10,000,000,000 MANTRA