Mantra has launched MANTRA Chain Mainnet, moving closer to its goal of integrating traditional finance with blockchain technology.
According to a press release shared with crypto.news, the real-world asset platform's mainnet is now live, offering users enhanced network security, regulatory compliance, and institutional-grade access to on-chain finance and tokenized assets at through a complete set. of tools.
Tokenization is the process of converting traditional assets, such as money market funds, into digital tokens that can be transferred and used on blockchain networks. Through MANTRA Chain, the project aims to streamline the process of bringing real-world assets onto the chain.
Starting today, users can connect the native ERC-20 OM token to the MANTRA Chain Mainnet and stake it to secure the network while earning rewards. OM will serve as the primary asset of RWA's ledger and play a more central role in the platform's ecosystem.
Additionally, users will be able to earn KARMA, the project's reputation-based rewards system that incentivizes users to make positive contributions to the community by completing certain tasks known as quests.
Mantra will continue to develop more features in the coming months, the announcement added.
“MANTRA Chain prioritizes security and regulatory compliance, allowing users and partners to actively participate in the expanding RWA market. Together, we are creating a foundation for innovative opportunities in asset management,” John Patrick Mullin, CEO of Mantra, told crypto.news.
He added that as awareness and innovation grows in the RWA sector, the platform could help unlock “what can be a multi-trillion-dollar real-world asset economy.”
Meanwhile, OM has been performing well ahead of the long-awaited mainnet launch, recently hitting a new all-time high. The token has risen more than 7,134.6% this year.
The mainnet launch follows a successful testing phase in November 2023 and an incentivized test launch in April, paving the way for the full implementation of the platform.
Mantra has already secured several notable partnerships ahead of the mainnet launch. For example, in April, the blockchain company partnered with United Arab Emirates-based real estate giant MAG to tokenize $500 million in real estate.
Just a few months later, the project signed a memorandum of understanding with multinational aviation finance company Novus Aviation Capital to unlock RWA investment opportunities in the aviation sector.
Growing demand for tokenization
The tokenized asset market is expanding rapidly and projections estimate it could reach $16 trillion by 2030.
Major financial institutions are already adopting RWA tokenization. For example, Goldman Sachs will launch three tokenization projects by the end of 2024. Meanwhile, State Street, the world's largest custodian bank, is exploring the tokenization of bonds and money market funds.
