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. The legacy OM token originated as an ERC-20 token on Ethereum in 2020; some data sources now list its contract on BNB Smart Chain (BEP20). Readers should verify the contract address on the official MANTRA channels before interacting. The token was designed for platform governance, staking rewards, and fee discounts. MANTRA has announced a rebrand to MANTRA (MANTRA) with a 1:4 redenomination and a ticker change from OM to MANTRA, planned for 2 March 2026. The original OM token is treated as a legacy asset; holders should confirm the swap procedure on the official MANTRA channels.

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.

The original OM launched in August 2020 as an ERC-20 token on Ethereum with a fixed total supply of 888,888,888 units. When MANTRA Chain's mainnet launched in October 2024, 888,888,888 new native OM tokens were minted in the genesis block, bringing the combined total supply to approximately 1,778 million.

On 21 April 2025 MANTRA announced the burn of 300 million OM tokens, about 16.5% of the total supply, 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 serves as founder and CEO.

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.

In February 2025 MANTRA obtained a VASP licence from Dubai's Virtual Assets Regulatory Authority (VARA), becoming the first DeFi platform to receive it. The project has also signed RWA tokenization agreements with MAG Group (July 2024, USD 500 million in Dubai real estate) and DAMAC Group (January 2025, USD 1,000 million in real estate, hotel and data centre assets).

How Does MANTRA (old) (OM) Work?

As an ERC-20 token, the legacy OM does not run its own consensus; it is secured by the Ethereum network. MANTRA Chain, the project's own Layer 1, uses a Proof-of-Stake model with Tendermint BFT consensus. 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 through the MANTRA web application and other platforms to earn passive income, and staking also gave access to new DAO token issuances and airdrops. This staking mechanism was designed to incentivize long-term holding and participation.
• 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 community-governed 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.

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 was first listed on a top-tier exchange on 8 March 2021, when it entered Binance's Innovation Zone; it has since appeared on several other venues. Legacy OM tokens may still appear on some exchanges, but availability varies. Before trading, verify on the exchange itself that the listed asset is the legacy OM token rather than the new MANTRA token, and check the project's official channels for the current swap status.

Risks and Controversies

In April 2025 the OM token fell sharply within about an hour during low-liquidity hours. The team attributed the move to forced liquidations by centralized exchanges, while community analyses pointed to structural tokenomics issues; the exact cause remains disputed. Legacy tokens carry additional risks related to migration and reduced liquidity.

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