MANTRA was launched in 2020, when OM’s TGE occurred as an ERC20 token on Ethereum in August of that year. Originally launched as a DeFi project, OM was MANTRA’s dApp token with a hard cap supply of 888,888,888.
The project has always had a focus on tokenization of assets and regulatory compliance. Through our experience working closely with regulators and financial institutions, it became clear that the market needed a purpose-built RWA L1.September 2022 marked the next phase of MANTRA’s evolution, where we began building MANTRA Chain and our longer-term vision of an onchain RWA ecosystem with users, dApps, TVL, and more. Originally MANTRA Chain would have had a separate token to OM. After community members reached out to the team expressing concern about OM losing value and mindshare, we explored merging OM and MANTRA Chain together.
In February 2024, a community proposal to make OM the native L1 staking coin for MANTRA Chain passed unanimously. As such, we deprecated our ERC20 OM supply on January 15th, 2026 as we migrated OM over to mainnet where it now functions as the chain’s L1 staking coin.
MANTRA’s mainnet went live on October 10th, 2024, announced publicly on October 23rd, 2024. Today, MANTRA aims to be the ledger of record for real world assets (RWAs) with OM functioning as the native staking coin of the chain.
