MANTRA announces mainnet launch set for October

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

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

Bridging DeFi and TradFi

The mainnet will position the blockchain platform to achieve its goal of bringing traditional finance on-chain, MANTRA co-founder and chief executive officer John Patrick Mullin said.

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

MANTRA has struck some key partnerships

The MANTRA Chain’s mainnet launch will support this objective through new partnerships in the real-world assets ecosystem. Mantra unveiled its incentivized testnet in April and struck a signficant partnership with MAG, a UAE-based real estate giant. The deal centers around the tokenization of $500 million in real estate.

In August, MANTRA disclosed 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, a market currently valued at over $200 billion.

These developments have recently catalyzed the native token OM’s performance, with prices surging amid a spike in active wallets and staking.