MANTRA Chain
  • Introduction
    • Overview
    • Why MANTRA Chain
    • Building on MANTRA Chain
    • MANTRA RWA Suite
  • Using MANTRA Chain
    • MANTRA Chain Wallet Setup
      • Connect to Testnet
      • Connect to Mainnet
      • Testnet Faucet
    • MANTRA Zone
    • MANTRA Bridge
      • MANTRA Bridge User Guide
      • MANTRA Bridge FAQs
    • Stake
      • Stake User Guide
      • Stake FAQs
    • MANTRA Swap
      • MANTRA Swap User Guide
      • Liquidity Pools User Guide
      • MANTRA Swap FAQs
    • Claiming Journey
      • Check If You're Eligible
      • Claiming Journey User Guide
      • I've redeemed my rewards, now what?
    • Chakra Pool
      • What can I do with my USDY
      • Chakra Pool Deposit Guide
      • How KARMA works for Chakra Pool
        • How much KARMA do I get for depositing into Chakra Pool?
        • Can I make multiple deposits and how will KARMA be calculated then?
        • My KARMA is not updated even though I make multiple deposits?
        • Will I get daily KARMA for my deposit on USDY Chakra Pool launched on Hongbai earlier?
      • Chakra Pool FAQs
    • MANTRA Zone Leaderboard
      • MANTRA Zone Leaderboard User Guide
        • Mission Guides
          • Pledge your OM 🕉️
          • Claim OM Staking Rewards
          • OMly Drip 💧
      • MANTRA Zone Leaderboard FAQs
  • Developing on MANTRA Chain
    • Getting Started
      • DuKong Testnet
      • Install Prerequisites
      • Setting Up Dev Environment
      • Compiling a Contract
      • Deployment and Interaction
    • CosmWasm Quick Start Guide
      • CosmWasm Contracts
      • Understanding CosmWasm File Structure
    • DAPP Tooling
      • Cosmos SDK
      • Important Libraries
      • Developer Resources
    • Developer FAQs
  • MANTRA Smart Contracts
    • Overview
    • MANTRA Dex
      • 🚢Deployments
      • 📚Common Types
      • 💰Fee Collector
      • ⌛Epoch Manager
      • 🌊Pool Manager
      • 🎁Farm Manager
    • Claimdrop Contract
    • Audits
  • Node & Validator Operations
    • Overview
    • Node Setup & Deployment
      • Node System Requirements
      • Running a Node
      • How to run Mantrachain with Systemd
      • Validator Nodes
        • Connect sidecar
    • Validator Architecture Recommendations
      • Secure Validator
    • Governance
      • Draft a Proposal
        • Text Proposal
        • Community Spend Proposal
        • Software Upgrade
        • Cancel Software Upgrade
      • Submitting a Proposal
      • Verifying your transaction
      • Depositing funds
      • Voting on a Proposal
    • Download nodes snapshots
  • MANTRA Chain with EVM (Alpha)
    • Getting Started on OMSTEAD Testnet
  • Setup Instructions
  • Using Foundry
    • Deployment with Foundry
  • Using Hardhat
    • Deployment with Hardhat
  • Mainnet OM Information
    • Background
    • Updated OM Tokenomics
    • OM Distribution Updates
    • Inflation & Vesting Schedule
    • Legacy tokens to mainnet staking tokens
  • Appendix
    • Frequently Asked Questions
      • General FAQs
        • What is MANTRA Chain?
        • What are the key features/ modules available to builders on MANTRA Chain?
        • What support is available for developers and validators that join the ecosystem
        • Where can i find MANTRA Social Accounts & Communities?
        • How can an Issue or a bug be reported?
        • How can I identify official MANTRA communication and websites?
      • Validator FAQs
        • What does a new validator’s journey look like?
        • What are my key responsibilities as a validator?
        • What is uptime and how is it maintained?
        • What are the hardware requirements?
        • How to get validator keys?
        • How can I connect a validator from an older testnet to the newest testnet?
        • How do I create a backup snapshot of a node?
        • How do I restore a node from a snapshot?
        • What are the different states a validator can be in?
        • How do I unjail a validator?
        • How do I edit a validator's description?
        • What is self-delegation?
        • Is there a minimum amount of OM that must be delegated to be an active validator?
      • Developer FAQs
        • What is MANTRA Chain, and how does it utilize the Cosmos ecosystem?
        • How does MANTRA Chain ensure interoperability with other blockchains in the Cosmos ecosystem?
        • What is the Cosmos ecosystem, and how does it differ from other blockchain platforms?
        • Which programming languages are commonly used for developing on the Cosmos ecosystem?
        • How do I get started with development on the Cosmos ecosystem?
        • What are Cosmos SDK and Tendermint, and how do they work together?
        • What are Cosmos zones and how do they interact?
        • How do I build and deploy smart contracts on the Cosmos ecosystem?
        • How do I interact with Cosmos chains and applications programmatically?
        • What is the best way to learn about developing for the MANTRA Chain and Cosmos ecosystem?
      • Hongbai FAQs
        • Where do I sign up for Hongbai?
        • Why do I need to provide 2 wallets during signup?
        • How can I Login?
        • What should I do if I forgot my password?
        • What can I do if i forget my registered email?
        • Where do i verify my email?
        • How to connect my Metamask wallet?
        • Is Hongbai app a testnet or live app?
        • Can I change my wallet ?
        • Error “invalid user credentials“
        • Why can i not Invest?
      • How to Guides
        • Install Keplr Wallet
        • Keplr and Ledger
        • Add DuKong Testnet to Keplr
        • Get Tokens from Faucet
        • Track activity on Leaderboard
      • More Help & Support
      • MANTRA Zone FAQs
        • MANTRA Zone General FAQs
          • What wallets are currently supported on the MANTRA Zone?
          • How do I connect my wallet to the MANTRA Zone?
          • How do I copy my connected wallet’s address?
          • How do I connect a different wallet to the MANTRA Zone?
          • Can I disconnect my wallet from MANTRA Zone?
          • How can I resolve seeing multiple entires of the same amount of testnet OM in my Keplr wallet?
          • The question that I have is not covered by the FAQ, what should I do?
        • MANTRA Bridge FAQs
          • What is MANTRA Bridge?
          • Why should I use the MANTRA Bridge?
          • Is there a fee for using the MANTRA Bridge?
          • Do I have to pay gas fees?
          • What tokens will I receive?
          • How does the migration process work?
          • How long should the MANTRA Bridge order take?
          • How can I track the status of my MANTRA Bridge order?
          • What happens to my ERC20 OM tokens once I use the MANTRA Bridge?
          • Which network can I use on the MANTRA Bridge?
          • What should I do if I see ‘Wrong network’ error on the app?
          • Will there be a two-way bridge in the future?
          • My MANTRA Bridge order is stuck on Ethereum?! How can I fix this?
          • Who can I contact for support during the migration process?
          • Which EVM chains can I bridge from?
          • Are the OM tokens I receive wrapped tokens or the native MANTRA Chain OM tokens?
          • Is the MANTRA Bridge a non-custodial solution?
          • What happens if the MANTRA Bridge is hacked or goes offline?
          • Are there any risks associated with using the MANTRA Bridge?
          • How does the MANTRA Bridge ensure the security of my tokens during migration?
          • Can I use my existing Ethereum wallet to access the MANTRA Bridge?
          • How does wallet linking and airdrop participation work?
        • Stake FAQs
          • What is Stake?
          • What are validators, and how do I choose one?
          • What rewards can I earn by staking $OM?
          • How are staking rewards calculated?
          • Can I choose to unstake my $OM coins?
          • What is the unbonding period?
          • Can I change validators after staking $OM?
          • Can I stake $OM with multiple validators?
          • Are there any risks involved with staking $OM?
          • Will my rewards gets automatically restaked after redemption?
          • Do I lose my claimable rewards when performing actions with a validator with unclaimed rewards?
          • My wallet is showing a 0 balance even though I have funds. What should I do?
          • How do I know if my $OM is staked?
        • Chakra Pool FAQs
          • What are the Chakra Pool rewards?
          • What is USDY?
          • How do I get the yield from the treasury bonds by holding USDY?
          • Can I change my linked wallet?
          • I don’t remember my linked wallet - what can I do?
          • What are the bonus rewards and where I can see my rewards?
          • How are the USDY rewards calculated and when can I redeem my USDY rewards?
          • How are the $OM rewards calculated and when can I redeem my $OM rewards?
          • How are the $ONDO rewards calculated and when can I redeem my $ONDO rewards?
          • What can I do with my USDY and $OM rewards after redemption?
        • MANTRA Zone Leaderboard FAQs
          • I have someone that wants to participate in the MANTRA Zone Leaderboard but they don’t know how.
          • What does the ⚡icon and ‘Get + x KARMA’ text under the ‘KARMA’ section refer to?
          • The KARMA on the Zone Leaderboard only lists MANTRA Chain wallets, how to check my EVM wallet rank?
          • Which wallet IDs are visible on the Leaderboard Ranking Table?
          • Why are there three different categories for the Leaderboard Ranking Table?
          • How can I get the Leaderboard Ranking Table to show where my connected wallet ranks currently?
          • How can I search where a specific wallet ID ranks in the Leaderboard Ranking Table?
          • How can I search what wallet ID currently ranks in a specific ranking number?
          • My KARMA and/or multiplier amount did not update on the Leaderboard Ranking Table, why is that?
          • What is the calculation for the KARMA?
          • I’m unable to see the OMly Faucet on my Keplr/Cosmostation wallet
          • I'm unable to see my OMly Faucet Claim transaction on the explorer
          • The question that I have is not covered by the FAQ, what should I do?
        • MANTRA Swap FAQs
          • What is Swap?
          • How can I swap?
          • I have connected my EVM wallet, but I’m still unable to swap. Why?
          • Where can I view my past transactions?
          • Why is my swap button disabled?
          • Why can’t I swap with a slippage more than 5%?
          • What is Exchange Rate?
          • How do I get OM tokens in my wallet?
          • How do I get other tokens in my wallet?
          • Will the swap fee be deducted from my sell or buy token?
          • Why can’t I see the balance of tokens in my wallet but on the Swap panel?
          • How do I add liquidity to a pool?
          • I am unable to provide liquidity to the pool.
          • While adding liquidity, why are the two tokens USD value not equal?
          • How do I withdraw my funds from Liquidity Pools?
          • Why can I not see my tokens for withdrawal?
          • Why can I not remove liquidity?
          • Why is my deposited value of the two tokens changing in my position?
          • Do liquidity pools have a bonding period?
          • What are LP tokens?
          • What can I do with my LP tokens?
          • Why can I not see any LP token balance?
          • I am connected with my MANTRA wallet, but still cannot view my positions?
          • I provided liquidity, but I can’t see my position. What should I do?
          • Why is my transaction not successful?
    • Glossary
    • MANTRA's Incentivised Testnet
      • Testnet Phase 1
      • Hongbai - Testnet Phase 2
  • Third Party Bridges
    • Base Bridge
    • Polygon Bridge
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  1. Mainnet OM Information

OM Distribution Updates

PreviousUpdated OM TokenomicsNextInflation & Vesting Schedule

Last updated 3 months ago

Our mainnet was approved by our community in October 2024. We have since made adjustments to further extend vesting conditions and reduce inflation to 3%. This was brought about by community feedback and we have decided to proceed with a revised tokenomics proposal which was presented in two separate votes to ERC20 OM holders and mainnet validator nodes. Both proposals successfully passed with voting to approve and voting to approve.

In order to distinguish between legacy and new OM supply we will use the following terms: i) “legacy tokensˮ: original ERC20 OM with hard cap supply of 888,888,888;

ii) “mainnet staking coinsˮ: newly minted CosmWasm IBC-compatible OM staking coins native to MANTRA Chain mainnet with an uncapped supply.

At genesis, 1,777,777,776 mainnet staking coins have been minted. 888,888,888 mainnet staking coins ( 50% of the newly minted supply) are solely minted to mirror the legacy token supply of 888,888,888 and will be stored in a canonical bridge. The other newly minted 888,888,888 mainnet staking coins will be distributed in accordance with the needs of MANTRA Chain. Our proposed allocations are shown below. Please note that these allocations may be subject to change if requested by exchanges and/or regulators.

67.5% OM Upgrade

This allocation bucket constitutes both the mainnet staking coins minted to replicate the legacy token supply (50.0%) and those minted to provide users with incentives to upgrade their legacy tokens to newly minted mainnet staking coins that can secure MANTRA Chain (17.5%). Explanation of these two purposes below:

  • 50% Existing OM (EVM) 50% of the 1,777,777,776 mainnet staking coins minted in MANTRA Chainʼs genesis block, or 888,888,888 coins, will mirror the legacy token supply. Given widespread public OM liquidity available via centralized and decentralized trading venues, the legacy token supply will initially be preserved. Users can utilize our one-way bridge to facilitate the exchange of legacy tokens for mainnet staking coins. Eventually we will deprecate legacy tokens in favor of mainnet staking coins.

  • 17.5% OM Upgrade The MANTRA Chain genesis block allocates 17.5%, or 311,111,112 mainnet staking coins, for those who have staked legacy tokens prior to mainnet launch. A snapshot mechanism has been deployed to track eligible OM staking. Those users who have staked legacy tokens prior to mainnet launch do not earn continuously compounding rewards but rather the length of time they have staked, according to the snapshots, allows them to earn up to a 1.35x multiple on their staked OM. These OM rewards are distributed upon mainnet launch in the form of mainnet staking coins and are subject to a cliff of 4 months and linear vesting over 44 months thereafter. Any undistributed mainnet staking coins will be transferred into the community pool. It is important to note that the principal legacy tokens staked to earn these mainnet staking coin rewards will remain as legacy tokens. After mainnet, if users wish to convert their principal legacy tokens into mainnet staking coins that can be staked on mainnet for inflationary yield, they can use our canonical bridge to do so without slippage.

12.8% MANTRA Chain Association

This allocation bucket includes those mainnet staking coins provided for ecosystem rewards (2.1%), mainnet private sale (5.6%) and mainnet seed (5.1%).

  • 2.1% Ecosystem 2.1% of the genesis supply, or 37,777,777 mainnet staking coins, is reserved for funding ecosystem initiatives. The MANTRA Chain Association requires strategic reserves for funding protocol development. This mainnet staking coin supply is intended to strategically seed, incubate, and support projects that align with MANTRA Chainʼs value proposition.

  • 5.6% Mainnet Pre-Seed Pre-Seed investors have the right to acquire an allocation from a pool of 5.6% of total genesis supply, or 100,000,000 mainnet staking coins. Investor allocations are subject to a 3 year vesting schedule starting at mainnet launch, with an initial 12 month cliff, followed by a linear unlocking period over the subsequent 24 months governed by onchain smart contracts. During this vesting period, mainnet staking coins will not be included in circulating supply but they will be custodied by pre-seed participants. Funds raised via pre-seed are used to support the overarching purpose of the MANTRA Chain Association as stated above. Any unsold amounts will be used to fund future private sale rounds so as to continue supporting core the development of MANTRA Chain.

  • 5.1% Mainnet Seed Seed investors in MANTRA have helped support growth and development of MANTRA to where it is today. As such, these early investors have the right to acquire an allocation from a pool of 5.1%, or 90,000,000 mainnet staking coins. Investor allocations are subject to a 18 month vesting schedule starting at mainnet launch, with an initial 6 months lockup, followed by a linear unlocking period over the subsequent 12 months. Funds raised via private sale are used to support the overarching purpose of MANTRA Chain Association as stated above. Any unsold amounts will be used to fund future private sale rounds so as to continue supporting core development of MANTRA Chain.

16.9% Core Contributors

16.9% of genesis supply, or 300,000,000 mainnet staking coins, are allocated to Core Contributors of MANTRA Chain. This allocation is reserved for individuals who have made contributions to the development, design, growth and implementation of MANTRA Chain. This includes team members, investors, advisors, moderators and active contributors among other stakeholders. The launch of MANTRA Chain is the culmination of years of dedicated efforts from this group of individuals.

Each Core Contributorʼs token allocation will be subject to a 5 year vesting schedule starting at mainnet launch, with an initial 30 month cliff, followed by linear vesting over the subsequent 30 months.

2.8% Airdrops Establishing a vibrant ecosystem of users, validators and stakers well before mainnet launch is paramount to the success of MANTRA Chain. As such, 2.8% of the genesis supply, or 50,000,000 mainnet staking coins, is allocated for airdrops. 10% will be made available in March 2025, followed by a cliff of 6 months until September 2025, after which linear vesting for the remaining amount will commence, concluding in March 2027. These newly minted coins are to be distributed amongst key Cosmos communities as well as those users who have participated in our promotional campaigns and interacted with the Hongbai testnet. All 50,000,000 mainnet staking coins have been allocated at genesis, with future airdrops coming from the community pool.

tokenomics proposal
82.17% of ERC20 OM holders
49.17% of mainnet validators