Layer 1 Blockchain Mantra Officially Launches Mainnet to Tokenize RWA

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Sujha Sundararajan

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Sujha Sundararajan

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Last updated:

October 23, 2024 10:01 EDT

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Mantra, a security-first RWA Layer 1 Blockchain, has announced the official launch of its mainnet, which aims to become a preferred ledger of record for Real-World Assets (RWA).

The announcement arrives at a time when Mantra Chain announced participation in Dubai’s Binance Blockchain Week on October 30th-31st.

Per the press release shared with Cryptonews, Mantra’s mainnet launch marks a “groundbreaking step in bringing RWAs on-chain.”

“We’re thrilled to unveil our mainnet, and officially welcome the industries, partners and projects that want to collaborate and build the future of RWAs together,” said John Patrick Mullin, CEO of Mantra.

The Mantra Chain mainnet will comprise “customisable suite of tools” built with regulatory compliance and network security, the release noted.

Further, the platform aids in transferring traditional financing, apart from simplifying the process of bringing RWA assets on-chain.

The release noted that features of the mainnet will “continue to develop,” with users having access to future RWA drops. Users can bridge Mantra native coin OM from ERC-20 to mainnet as well as stake the token to help secure the network, it added. Additionally, they can also earn on-chain staking rewards.

Besides, users can also earn Karma tokens “by completing new missions on mainnet.”

In March, Mantra Chain raised $11 million to build a network tailored to RWA. Mantra founder Mullin said that it is in the final stages of securing license from Dubai’s crypto regulator VARA.

The layer-1 blockchain has been fundraising more than $25 million in 2024, the release said. Additionally, the native OM token witnessed triple-digit gains this year.

“While 2024 has been a landmark year for MANTRA, including announcements with UAE real estate giant MAG and Zand bank, the launch of the Mainnet will open the door for important movement in the RWA space.”