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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  • What changes have we made to our tokenomics?
  • Why are these changes required by our ecosystem stakeholders?
PreviousBackgroundNextOM Distribution Updates

Last updated 3 months ago

What changes have we made to our tokenomics?

In order to run a PoS chain, implementing a well designed incentive mechanism that incentivizes chain security is of paramount importance. Our team, community, key partners and investors are all aligned on the necessity of implementing the following key changes to OMʼs tokenomics:

  • OMʼs migration to become the native L1 staking coin for MANTRA Chain. Historically it was an ERC20 token.

  • The adoption of an inflationary tokenomic design with an uncapped supply. Previously OM had a hard cap supply.

  • Total token supply increase from 888,888,888 to 1,777,777,777, meaning 888,888,888 new OM coins have been minted natively on MANTRA Chain however only a portion of these are currently in circulation.

Why are these changes required by our ecosystem stakeholders?

  • Sustainable staking rewards and long term network security: Validators need to be sufficiently incentivized to propagate new blocks and secure the network. With an inflationary uncapped token supply, this ensures our such as and are fully aligned with our long term vision of becoming the ledger of record for RWAs and can rest assured they will be continuously rewarded for their efforts to secure our network. A secure chain is the bedrock for our secured RWA deals.

  • Incentivize long term OM holders: Both our existing and new OM holders will now be incentivized to delegate their OM to a validator for mainnet staking in order to earn additional OM rewards. This is a superior model to our prior one as it encourages long term holding and staking thereby maintaining OM price stability, with the additional benefit of maintaining long term network security.

  • Successful fundraising to build our RWA chain and ecosystem: Given the constraints on the prior hardcap supply where ~93% of OM were in circulation prior to our mainnet launch, expanding the token supply enabled us to successfully raise sufficient funding needed to execute our vision.

  • Attract top talent: The additional mint of 888,888,888 mainnet OM staking coins enables us to attract top blockchain developers and align their long term incentives with our vision.

  • Attract top RWA dapps: An uncapped inflationary tokenomics design will help us attract the top tier RWA projects to build on MANTRA Chain. If we were to continue with our prior hard cap token supply model ~93% of OM in circulation, we would not be able to issue more OM to attract these dapps to build on our chain.

  • Flexibility: An uncapped token supply allows MANTRA to adapt and sustain incentives over time. Token inflation can be adjusted dynamically via governance if economic circumstances change. This is not feasible with the prior hard cap supply.

validators
Google Cloud
Anchorage Digital