MANTRA Chain Completes Major Upgrade
The MANTRA Layer 1 has successfully completed its v7 chain upgrade. As part of the transition, the protocol's native token is undergoing a 1-to-4 split, migrating from $OM to a new $MANTRA token.
The v7 upgrade is the final step in MANTRA's brand unification, aligning the native token with the project's name and ecosystem components like MANTRA Finance and mantraUSD. This community-approved proposal also increases the token's decimal places from 6 to 18 for smoother usability in DeFi applications. Beyond the ticker change, the upgrade increases the maximum token supply from 2.5 billion to 10 billion. This was executed as a non-dilutive split, meaning the total value of an individual's holdings remains the same while the number of tokens they hold quadruples. The entire process was designed to be automatic for on-chain holders, requiring no manual action. This technical overhaul solidifies MANTRA's focus on becoming a leading Layer 1 blockchain for Real-World Assets (RWAs). The chain is specifically built to be compatible with regulatory requirements, aiming to bridge traditional finance with the world of decentralized applications. MANTRA has already been making significant moves in the RWA space, including a partnership to tokenize $500 million worth of real estate from Dubai-based developer MAG Group. The mainnet, which launched in October 2024, provides the foundation for developers and institutions to build compliant, permissionless applications for tokenized assets. The roadmap following this upgrade focuses on expanding the MANTRA ecosystem. The next phases involve attracting more decentralized applications (dApps), including bridges, DEXs, and lending protocols, to create a robust and liquid environment for real-world assets on-chain.
