The MANTRA Chain Mainnet has been inaugurated by Mantra, bringing it one step closer to its objective of integrating blockchain technology with traditional finance
The mainnet for the real-world assets platform is now operational, as indicated by a press release that was shared with crypto.news.
This platform provides users with a comprehensive suite of tools that provide institutional-grade access to on-chain financing and tokenized assets, as well as enhanced network security and regulatory compliance.
Tokenization transforms conventional assets, such as money market funds, into digital tokens that can be transferred and utilized on blockchain networks.
The project’s objective is to optimize the process of integrating real-world assets onto the blockchain using MANTRA Chain.
The native OM token can be bridged from ERC-20 to the MANTRA Chain Mainnet and staked to secure the network while users earn rewards, starting today.
The primary asset of the RWA ledger will be OM, which will assume a more central role in the platform’s ecosystem.
Furthermore, users will have the opportunity to accumulate KARMA, the project’s reputation-based rewards system that motivates users to make positive contributions to the community, by completing specific tasks called “missions.”
The announcement also stated that Mantra will continue to develop additional features in the months ahead.
“MANTRA Chain places a high value on regulatory compliance and security, which allows users and partners to engage in the growing RWA market actively.”
John Patrick Mullin, CEO of Mantra, stated to crypto.news, “Our collective efforts are establishing a foundation for innovative asset management opportunities.”
He further stated that the platform has the potential to unleash “what can be a multi-trillion dollar real-world asset economy” as awareness and innovation in the RWA sector increase.
In the interim, OM has demonstrated exceptional performance in the lead-up to the eagerly anticipated mainnet debut, recently achieving a new all-time high. This year, the token has experienced a significant increase of over 7,134.6%.
Following a successful testnet phase in November 2023 and an incentivized testnet implementation in April, the mainnet launch will facilitate the platform’s full deployment.
Prior to the debut of the mainnet, Mantra has already established numerous significant partnerships. For example, in April, the blockchain company collaborated with UAE-based real estate behemoth MAG to tokenize $500 million in real estate.
The initiative signed a memorandum of understanding with multinational aviation finance company Novus Aviation Capital just months later to unlock RWA investment opportunities in the aviation sector.
Increasing demand for tokenization
The tokenized asset market is experiencing accelerated growth, with projections suggesting that it could reach $16 trillion by 2030.
Major financial institutions are currently adopting RWA tokenization. For example, by the conclusion of 2024, Goldman Sachs intends to implement three tokenization initiatives.
In the interim, State Street, the world’s largest custodian bank, is investigating the tokenization of money market funds and bonds.
