MANTRA [Old] (OM)
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Price of MANTRA [Old] today in real time
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Historical price evolution of MANTRA [Old]
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MANTRA was co-founded in May 2020 by John Patrick Mullin, Rodrigo Quan Miranda and Will Corkin under the initial name of MANTRA DAO, establishing its headquarters in Hong Kong as a community DeFi platform focused on staking, lending and decentralised governance. In August 2020, the project launched the OM token as an ERC-20 on Ethereum with a fixed total supply of 888,888,888 units, debuting at $0.37 before falling to its all-time low of $0.017 in October of the same year, the month in which the official whitepaper was also published.
On 1st October 2020, MANTRA DAO launched its DeFi staking platform as the ecosystem's first functional product, allowing OM holders to stake in a non-custodial manner directly in on-chain smart contracts. 8th March 2021 marked an important milestone when OM was listed on Binance's Innovation Zone as its first listing on a top-tier exchange, experiencing a 60% rise on its debut day with a volume of 74 million dollars.
In August 2022, MANTRA DAO officially rebranded as MANTRA, expanding its ecosystem vision beyond the original DAO towards a suite of products that includes MANTRA Nodes, MANTRA Chain, MANTRA Finance and MANTRA DAO. During 2023 and 2024, the project strategically pivoted towards real-world asset tokenisation (RWA) and designed MANTRA Chain, a proprietary Layer 1 blockchain built on Cosmos SDK with native regulatory compliance. The OM token experienced extraordinary growth, rising from $0.0158 in January 2024 to grow more than 9,200% throughout the year.
On 23rd May 2024, Laser Digital, the digital assets subsidiary of Japanese bank Nomura, made a strategic investment in MANTRA to accelerate RWA tokenisation in the Middle East and Asia. On 3rd July 2024, MANTRA announced an agreement with MAG Group, an Emirati real estate developer with a portfolio valued at more than 5,000 million dollars, to tokenise 500 million dollars in luxury real estate assets in Dubai, beginning with the Keturah Reserve development in the Meydan district. In October 2024, MANTRA Chain's mainnet was launched, minting 888,888,888 new native OM tokens that doubled the total supply to approximately 1,778 million, with team and advisor tokens locked in staking from the start.
In January 2025, MANTRA signed an agreement with DAMAC Group, an Emirati conglomerate, to tokenise 1,000 million dollars in real estate, hotel and data centre assets. On 22nd February 2025, OM reached its all-time high of $8.99 with a market capitalisation exceeding 6,000 million dollars, positioning itself among the 20 largest cryptocurrencies by market capitalisation. In February 2025, MANTRA obtained the VASP licence from Dubai's VARA, becoming the first DeFi platform to obtain it to operate as an exchange and provider of broker-dealer and investment management services.
On 7th April 2025, MANTRA launched a 108.8 million dollar ecosystem fund to accelerate RWA and DeFi projects, with investors such as Laser Digital, Shorooq, Brevan Howard Digital, Valor Capital and Amber Group. However, on 13th April 2025, the OM token experienced a 92% collapse in approximately one hour, falling from ~$6.30 to $0.37 during low liquidity hours (02:00 UTC), destroying approximately 5,500 million dollars in market capitalisation. The team attributed the collapse to massive forced liquidations by centralised exchanges in a low liquidity environment, whilst OKX detected large-scale coordinated on-chain deposits since March 2025. The exact cause remains in dispute between the team's explanations and community analyses regarding structural tokenomics issues. On 21st April 2025, MANTRA announced the burning of 300 million OM tokens (16.5% of the total supply, valued at approximately 160 million dollars), including 150 million from CEO John Patrick Mullin's personal allocation, with the burn completed on 29th April. The project plans to change the ticker from OM to MANTRA and carry out a 1:4 redenomination on 2nd March 2026.
MANTRA (OM) functions as the native token of a blockchain ecosystem centred on the tokenisation of real-world assets. The project operates with two versions of the token: the original OM launched as an ERC-20 token on Ethereum during 2020, with an initial fixed supply of 888.8 million units which are almost entirely in circulation, and the native token of MANTRA Chain, a Layer 1 blockchain launched in October 2024 that minted an additional 888.8 million in its genesis block. This duality results in a combined total supply of approximately 1,778 million units distributed between both networks.
The technical infrastructure of MANTRA Chain is built on Cosmos SDK with EVM compatibility, enabling processing of up to 10,000 transactions per second and incorporating native regulatory compliance modules that include KYC functionalities, compliance and specific tools for asset tokenisation. The OM token fulfils multiple functions within the ecosystem: it serves as a staking mechanism to secure the network, grants governance rights for protocol decisions and acts as the payment unit for transaction fees. The majority of MANTRA Chain tokens remain locked in staking, whilst the network operates under a VASP licence granted by Dubai's VARA, providing a regulatory framework for its institutional real asset tokenisation operations.
Data verified against external sources. Some values may have changed since the last update.