Mantra Chain announced ambitious plans to make a comeback, starting with a $25M OM token buyback. The network also plans an EVM network, as well as RWA tokenization plans.
Mantra Chain aims to make a comeback, rebuilding its reputation following the crash in April. As Cryptopolitan reported, OM lost most of its value following erratic, low-liquidity trading on centralized exchanges.
One of the first tasks for Mantra’s comeback is an OM token buyback program, setting aside $25M for acquisitions.
In total, the buybacks will include $25M from the Mantra team, as well as $20M commitment from Inveniam, expanding the entire injection into OM to $45M. Inveniam’s commitment is financial, in addition to picking a validator role to secure the Mantra network.
The buybacks will be fully transparent and happening on-chain, with the goal of boosting the confidence of the Mantra community.
OM remains volatile, still trading around $0.23, with 2.4% daily gains. Previously, OM was one of the top RWA tokens, driving the entire narrative. The project is still carrying the effect of skepticism, blaming the team for a rug pull or deliberate selling.
OM recovered slightly, though the token is still depressed after April’s crash, down over 78% net for the past year. | Source: CoingeckoHowever, just four months after the crash, the Mantra team is showing its dedication with multiple upgrades and a future roadmap.
Mantra to sunset ERC-20 OM tokens
Mantra aims to position itself with a new chain, starting the process of swapping and sunsetting the ERC-20 version of OM tokens.
All OM tokens must migrate to Mantra Chain, the new EVM-compatible network, by January 16, 2026. To raise the incentives for validators, OM inflation was raised to 8%, where it will remain for a while before a new vote brings inflation back down.
Mantra Chain itself will launch as an EVM-compatible network, which is expected to launch around mid-September. Following the EVM launch, Mantra will become compatible with the Ethereum DeFi ecosystem, finally building a use case. Mantra will also be available for tokenization and native versions of other Ethereum apps.
The goal of Mantra is to grow its ecosystem with real use cases, while offering familiar infrastructure to developers. Currently, the Mantra infrastructure carries under $500K in value locked, with minimal DeFi app activity. The crash of OM meant Mantra skipped the last few months of DeFi growth.
Mantra to launch a yield-bearing stablecoin
Mantra aims to build liquidity with a native stablecoin. Currently, the platform has under $400K in stablecoin liquidity.
The network will introduce a yield-bearing stablecoin to share network earnings with all participants. Currently, Mantra counts 35.6K token holders through Mantra DAO, which has also lost its appeal and liquidity. The DAO treasury shrank to just 14.1K, awaiting the project’s revival.
Mantra’s main goal is to invite RWA tokenization on its network. Currently, Ethereum and Solana remain the leading tokenization platforms for money markets. Mantra will be a niche network, arriving late with a new L1 chain in an even more competitive environment. Despite this, Mantra has positioned its chain as potentially compliant with financial requirements and compatible with the launch of traditional financial products on-chain.
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Source: https://www.cryptopolitan.com/mantra-chain-tries-to-make-a-comeback-with-om-token-buybacks-stablecoin-and-rwa-tokenization-plans/
