Annual Review and Development Strategy of MANTRA in the RWA Domain Layer 1 Project

MANTRA, a blockchain Layer 1 project focused on the tokenization of real-world assets (RWA), has shown significant growth momentum over the past year. According to data platform statistics, MANTRA (OM) experienced a remarkable increase of 6418.3% throughout 2024, with its price rising from $0.0584 at the beginning of the year to $3.81 by the end of the year, making it one of the standout projects in the RWA investment sector.

Middle East Business Expansion: Tokenization of Billion-Dollar Assets

MANTRA recently announced an agreement with a well-known real estate group headquartered in Dubai, planning to tokenize at least $1 billion of the group's assets in the UAE. This collaboration covers multiple sectors including real estate, hospitality, and data centers, aiming to provide token-based financing solutions for portfolio companies. This partnership not only enhances the accessibility of investments but also simplifies related processes, with the tokenization of these assets expected to officially launch in early 2025.

John Mullin, co-founder and CEO of MANTRA, stated that this partnership "is a significant vote of confidence in the future of RWA tokenization." Currently, although MANTRA has business operations in several regions such as Hong Kong and Singapore, its primary operational focus has shifted to the Middle East, particularly Dubai.

In addition, MANTRA has signed an agreement with another developer to tokenize real estate assets worth a total of $500 million, with the first project starting from a residential project in Dubai. At the same time, MANTRA has signed a memorandum of understanding with a digital bank authorized by the Central Bank of the UAE, and both parties will jointly develop a framework to support RWA tokenization and distribution, ensuring compliance with relevant regulations from local authorities.

Major Achievements of 2024: Financing and Mainnet Launch

Looking back at 2024, MANTRA's development has been quite fruitful. In March, MANTRA completed a $11 million financing round led by an investment company. Just two months later, MANTRA received a strategic investment from a large securities firm's digital asset subsidiary.

Technically, MANTRA has developed a complete set of RWA tools, including digital identity (DID), compliance system MANTRA Guard, token management system MTS, decentralized exchange (DEX), and liquidity efficient emission protocol (LEEP). The collaborative operation of these modules allows RWA tokenized assets to be effectively managed and liquidated within a compliance framework.

Among them, the MANTRA Token Service (MTS) serves as a comprehensive module, allowing the creation, management, and control of tokenized assets on the MANTRA Chain. Its main features include a token factory, configurable workflows, administrative permissions, comprehensive token management (minting, burning, staking, freezing, distributing), built-in functionalities, jurisdiction compliance, and bank module integration.

MANTRA DEX introduces a protocol layer liquidity pool system, forming the core of the platform's decentralized finance (DeFi), providing users with a permissionless trading environment. The under-development MANTRA LEEP aims to address the prevalent liquidity shortage issues in the crypto market, particularly for assets outside of Bitcoin and Ethereum.

On October 23, 2024, the MANTRA mainnet officially launched, marking a new development stage for the project. Users can now bridge OM tokens from ERC-20 to the MANTRA mainnet tokens to gain access to future RWA tokens; stake OM to help secure the network and earn on-chain staking rewards; participate in the construction of the RWA ledger; and earn KARMA by completing new tasks on the mainnet.

Future Development Plan

Mullin, the CEO of MANTRA, stated that the project's goal is to serve as a ledger for asset issuance or RWA. He believes that the large-scale adoption of RWA requires a public blockchain that can be compatible with the broader DeFi ecosystem. MANTRA is building a permissionless layer that allows asset issuers, tokenization platforms, and regulated trading venues to easily, simply, and compliantly issue, distribute, and manage RWA.

MANTRA is expanding its DApp ecosystem, including a secondary market, a soon-to-be-licensed on-chain RWA liquidity hub, and collaborations with various DeFi providers in the areas of lending, borrowing, and fractional real estate products. Additionally, they are exploring applications in private credit, payments, and carbon credits.

Mullin outlined MANTRA's three-phase development strategy in the RWA field: the first phase focuses on the supply side, bringing high-quality assets on-chain; the second phase will be dedicated to enhancing liquidity and establishing secondary market venues; the final phase will unlock the composability of RWA, enabling its use across different DeFi applications.

MANTRA has set an ambitious goal: to reach 100 billion dollars in RWA TVL by the end of 2026. Although progress is currently slow, Mullin believes that over time, this process will create a snowball effect, eventually propelling MANTRA to a leading position in the RWA space.

Overall, MANTRA's collaboration with a Middle Eastern real estate giant marks further applications of blockchain technology in the tokenization of real estate in the region, while also providing new development opportunities for the RWA sector. As MANTRA continues to expand in the RWA field, the project demonstrates significant potential. Can MANTRA become a leader in RWA? The answer to this question is worth our continued attention.