MANTRA (old) PriceOM

What is MANTRA (old) (OM)?

MANTRA (old) (OM) is a legacy token from the initial iteration of the MANTRA DAO ecosystem, a community-governed platform focused on staking, lending, and governance within the Polkadot and Cosmos networks.

Key Takeaways

MANTRA (old) (OM) was the original governance and utility token for the MANTRA DAO ecosystem. It operates as an ERC-20 token on the Ethereum blockchain. The legacy OM token is a token contract; it does not run its own consensus. MANTRA Chain, the project's Layer 1, uses Tendermint BFT consensus under a Proof-of-Stake model where validators are selected by the amount of OM staked. The token was designed for platform governance, staking rewards, and fee discounts. MANTRA (OM) has rebranded to MANTRA (MANTRA) and a 1:4 swap is planned; the ticker change from OM to MANTRA and the 1:4 redenomination are scheduled for 2 March 2026. The old OM token is treated as a legacy asset. Users are advised to check the official MANTRA channels for the latest information regarding the legacy OM token.

Key Specifications & Tokenomics

MANTRA (old) (OM) represents the original token powering the MANTRA DAO, a decentralized autonomous organization built to democratize finance through staking, lending, and community governance.

On 21 April 2025 MANTRA announced the burn of 300 million OM (16.5% of total supply, valued at approximately $160 million), including 150 million from CEO John Patrick Mullin's personal allocation; the burn was completed on 29 April 2025.

Who Created MANTRA (old) (OM)?

MANTRA was co-founded in May 2020 by John Patrick Mullin, Rodrigo Quan Miranda and Will Corkin under the initial name MANTRA DAO, headquartered in Hong Kong. John Patrick Mullin is the founder and CEO of MANTRA. The project's core vision was to create a community-governed DeFi platform, initially focusing on the Polkadot and Cosmos ecosystems. The development and governance were managed by the MANTRA DAO, a decentralized autonomous organization where OM token holders could propose and vote on key protocol decisions. It's important to note that the project has since evolved, launching its own application-specific blockchain, the MANTRA Chain, and migrating to a new native OM token. MANTRA Chain is a Layer 1 built on the Cosmos SDK, IBC-compatible, supports CosmWasm and is fully EVM-compatible with MultiVM support; it reports scalability of up to 10,000 transactions per second.

How Does MANTRA (old) (OM) Work?

As an ERC-20 token on the Ethereum blockchain, the legacy OM token functioned primarily within the original MANTRA DAO ecosystem. Its mechanics were centered on participation and incentive alignment:

• Governance: OM token holders had the right to participate in the decentralized governance of the MANTRA DAO platform. They could create proposals, debate, and vote on various matters, such as protocol upgrades, treasury management, and fee structures.
• Staking: Users could stake OM to earn passive income through the MANTRA web application or other platforms; staking also provided access to new DAO token issuances and airdrops.
• Utility: The token provided utility within the platform, potentially offering holders benefits like reduced fees for services such as lending or borrowing on the MANTRA DAO platform.

What Makes MANTRA (old) (OM) Unique and Valuable?

The value proposition of the original OM token was intrinsically linked to the success and growth of the MANTRA DAO ecosystem.

• Early-Mover in Polkadot DeFi: MANTRA DAO was an early DeFi project that initially focused on the Polkadot and Cosmos ecosystems, aiming to capture value from its interoperability and shared security model.
• Community-Led Governance: It emphasized a strong DAO structure, giving token holders direct influence over the project's development and financial policies, which was a key differentiator in the DeFi space.
• Staking-Focused Model: By focusing on staking services for Proof-of-Stake (PoS) assets, it targeted a fundamental need within the growing PoS blockchain landscape, aiming to generate yield for its users and token holders.

On 13 April 2025, OM fell about 92% in roughly one hour, from about $6.30 to $0.37, during low-liquidity hours. The team attributed the move to forced liquidations by centralized exchanges, while OKX reported large coordinated on-chain deposits since March 2025; the exact cause remains in dispute.

What Is MANTRA (old) (OM) Used For?

The primary use cases for the legacy OM token within its original ecosystem were:

• Voting on Governance Proposals: Exercising control over the future direction of the MANTRA DAO platform.
• Earning Staking Rewards: Locking tokens in staking contracts to earn passive income.
• Accessing Platform Benefits: Potentially using the token to pay for or receive discounts on platform services like lending.
• Speculative Trading: Being traded on various cryptocurrency exchanges based on the perceived value and future potential of the MANTRA DAO ecosystem.

Important Note: The project has transitioned to the MANTRA Chain. The old ERC-20 OM token is considered a legacy asset. Holders were required to migrate their tokens to the new chain-native OM. Always refer to the official MANTRA website and announcements for the most current information regarding token status and utility.

How to Buy OM Coin?

OM has been listed on several major exchanges, including Binance (Innovation Zone, 8 March 2021), Robinhood and Coinbase. Verify the ticker and contract address on the exchange before trading.

OM was first listed on Binance's Innovation Zone on 8 March 2021 and has since been available on venues including Robinhood and Coinbase.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Crypto asset prices are highly volatile; do your own research and bear your own risks.