MANTRA May 2024 Recap

4 min readJun 4, 2024


Hello Sherpas! Welcome to our Monthly Recap, where we give you the latest scoop from the MANTRA ecosystem and the real world asset (RWA) tokenization space. This month, we spotlight several notable events, including key updates from our ongoing endeavors.

Here’s a summary of all the important events in May from the world of MANTRA.

Ongoing Hongbai Incentivized Testnet Update

The MANTRA Hongbai Incentivized Testnet is gaining hype from participants worldwide! We’re now at 2.23M participants and counting! With your overwhelming support, we’re the most followed project on Galxe, with 855K+ followers. Truly a proud moment for us.

We’ve added new Galxe Quests, with more to be added regularly. Now you have more chances to earn XPs and climb up the leaderboard — snapshot dates to be released later.

Participate in the ongoing testnet here:

$OM Locked Products on Binance Simple Earn

$OM Locked Products on Binance Simple Earn, enabling subscribers to earn up to 19.9% APR* during the promotion period.

You must subscribe between 2024–05–01 at 10:00 (UTC) and 2024–09–30 at 09:59 (UTC) to be eligible. The subscription is on a first-come, first-served basis, with a minimum subscription limit of 1 $OM per user. In contrast, the maximum subscription limit per user depends on the duration.

To get started, visit the OM Simple Earn page. Check out Binance’s official announcement.

DAO Proposals

Interview with CEO

  • Our CEO and Co-Founder, John Patrick Mullin joined the Community Connect session on May 7 to delve into talking points like MANTRA’s recent developments, Hongbai Incentivized Testnet, upcoming events, and partnerships.
  • In a video titled “Why Cosmos?”, John Patrick Mullin outlines why MANTRA is building on Cosmos. The presentation showcases MANTRA’s vision for a scalable, modular blockchain infrastructure with strict regulatory compliance. Watch the video here.
  • John joined a panel discussion on May 29 titled “RWAs & Tokenization — Evolution or Revolution in Traditional Finance?” during Consensus 2024 to discuss how MANTRA is reshaping TradFi alongside other prominent RWA leaders from Securitize, Ondo Finance, and
  • Join us at the Nebular Summit 3rd Edition, July 12–13 in Brussels. Our CEO will take the stage to share his experience building in the RWA space and what MANTRA is doing differently in the push for compliant tokenization of real world assets — more info in this tweet.

Partnerships & Developments

  • Zoth partners with MANTRA to democratize access to tokenized Institutional offerings. This collaboration marks a significant step towards expanding access to real world assets (RWAs) and institutional-grade fixed-income products within the MANTRA ecosystem. We will support Zoth to tokenize RWAs using MANTRA’s robust and secure blockchain infrastructure. In turn, Zoth will enrich the ecosystem with diverse investment opportunities (official announcement here).
  • Ondo and MANTRA will incentivize a multi-chain USDY vault allowing USDC contributors to access low-risk, short-term US treasuries yield. Vaults go public in June 2024 on Ethereum and Base. Join the waitlist here:
    Those holding until the MANTRA Chain mainnet launch will receive additional rewards in $ONDO and mainnet $OM coins. MANTRA will also integrate Ondo’s flagship interest-bearing tokenized note, USDY, as a genesis asset upon mainnet launch later this year (official announcement here).

News, Features & Releases

  • Cryptonews published a feature on MANTRA CEO’s deep dive into the potential and challenges in RWA tokenization. Notable insights include varied regulatory frameworks, key areas for improvement, and interesting approaches from regions like Hong Kong, Dubai, and Singapore.
  • We also published a Medium blog showcasing the leading participants of MANTRA’s First RWA-focused Hackathon in Jaipur. The event was a great success, with over 200 projects working on innovative RWA solutions, from assets trading and stablecoins to lending and borrowing. Check our project spotlight here:

Community Announcements

  • Zoth has partnered with MANTRA to offer $OM holders exclusive rewards on Zoth Atlas. Simply hold $OM tokens and head to their Atlas social tasks page: to verify your holdings. You’ll earn 1000 XP points.
  • Binance Spot Trading Tournament ends on June 2, 2024 at 23:59 (UTC). Eligible Spot Trading Pairs for MANTRA: OM/BTC, OM/TRY, and OM/USDT. More details here.
  • Team MANTRA attended WikiEXPO Hong Kong on May 17. An engaged crowd swung by our booth to connect and learn more about what MANTRA is bringing to the world of real world tokenization.
  • MANTRA attended ETH Rio between 13–15 May to meet prospective partners and explore RWA tokenization projects.
  • Metaschool is releasing a beginner-to-advance learning track to help Web3 builders tap into the power of RWA tokenization by building dApps on MANTRA and earning incentives. Stay tuned.

We want to thank our community for showing us strong support in the ongoing Hongbai Incentivized Testnet. We will keep empowering builders and testnet participants while focusing more on strengthening community and industry connections.

We’ve got a big update cooking, we will share it with you as soon as it drops. Watch this space and follow our socials to get timely updates on notable events in the world of MANTRA.


MANTRA is a security-first RWA Layer 1 Blockchain bringing the world’s financial system onchain. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.

MANTRA — From Institutions to Individuals: Bringing Finance Onchain. $OM #HomeForRWAs

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Unlocking the $16 Trillion RWA economy with a regulation-ready blockchain.