MANTRA announces mainnet launch set for October

Real-world asset platform MANTRA has announced that the mainnet launch for MANTRA Chain will go live in October 2024.

MANTRA (OM), a layer 1 blockchain for RWA tokenization, stated in its announcement on September 18 that the mainnet launch will offer key features such as enhanced network stability and institutional-grade access to on-chain finance and tokenized assets.

Combining DeFi and TradFi

MANTRA co-founder and CEO John Patrick Mullin said that the mainnet will enable the blockchain platform to achieve its goal of bringing traditional finance to the chain.

Mullin added that MANTRA’s token and stablecoin inflows continue to attract more businesses and industry players into the RWA and asset tokenization space, helping to bridge the gap between decentralized finance and traditional finance.

MANTRA has established some important partnerships

MANTRA Chain’s mainnet launch will support this goal through new partnerships in the real-world asset ecosystem. Mantra announced its incentivized testnet in April and formed a significant partnership with MAG, a UAE-based real estate giant. The deal revolves around the tokenization of $500 million worth of real estate.

In August, MANTRA announced a memorandum of understanding between the blockchain firm and an aviation finance company. The collaboration aims to unlock RWA investment opportunities in the aviation sector, which is currently valued at over $200 billion.

These developments have accelerated the performance of the native token OM in recent times, with prices increasing along with the increase in active wallets and staking.