MANTRA - June 2024 Price Update - 7.14% Breakout News and Analysis

On June 2, 2024, at precisely 12:56 PM UTC, the cryptocurrency market witnessed a significant movement as MANTRA (OM) surged by 7.14%, reaching a new price of $0.899. This breakout event was not a mere coincidence but the result of a series of strategic and technological advancements within the MANTRA ecosystem. The following narrative delves into the elements that catalyzed this price surge, offering a comprehensive analysis of the factors at play. The recent breakout of MANTRA (OM) on June 2, 2024, has captured the attention of the crypto community, marking a significant 7.14% gain and pushing the token price to $0.899. This surge is attributed to several pivotal developments within the MANTRA ecosystem that have bolstered investor confidence and market interest. Let's delve into the key reasons behind this breakout, supported by visual evidence to illustrate the impact of each factor on the token's performance. The story of MANTRA's rise is a testament to the power of innovation, community engagement, and strategic partnerships in the dynamic world of cryptocurrencies. The following reasons contributed significantly to the breakout of MANTRA (OM):

MANTRA Hackathon in Jaipur: The hackathon in Jaipur attracted over 200 developers, highlighting community engagement and innovation, boosting token confidence. This event not only showcased the technical prowess of the MANTRA ecosystem but also underscored the vibrant community supporting it. The hackathon's success brought a wave of positive sentiment and increased interest in the OM token.

MANTRA launches RWA savings vault with Ondo’s USDY: The vault incentivizes USDC contributors with access to US Treasury yields and additional rewards, driving institutional interest. This strategic move by MANTRA to integrate realworld asset (RWA) tokenization with DeFi functionalities has attracted significant attention from institutional investors, further solidifying its market position.

Additionally, the broader context of MANTRA's ecosystem developments provides further insights into why the token experienced such a notable breakout. The network's focus on enabling seamless fractionalization and tokenization of RWAs, combined with a robust identity system utilizing decentralized IDs (DIDs) and Soulbound NFTs for enhanced identity verification, has positioned MANTRA as a leader in regulatorycompliant blockchain solutions. The recent announcement of over 180,000,000 $OM staked, representing over 20% of the total $OM circulation, has also added significant liquidity and value to the token, further driving its price upward.

In conclusion, the breakout of MANTRA (OM) is a result of strategic initiatives, community engagement, and innovative product launches that have collectively enhanced the token's market appeal. The hackathon in Jaipur and the launch of the RWA savings vault with Ondo’s USDY are prime examples of how MANTRA is leveraging its strengths to drive growth and adoption in the competitive crypto landscape. In summary, MANTRA's recent breakout is a testament to the project's robust strategic initiatives and technological advancements. From the successful hackathon in Jaipur to the launch of the RWA savings vault with Ondo’s USDY, MANTRA is making significant strides in the crypto ecosystem. These developments have not only bolstered community confidence but also attracted institutional interest. As always, conducting thorough research (DYOR) remains crucial for navigating the complexities of the cryptocurrency market effectively.

We have asked 33 Experty community members questions related to "MANTRA - June 2024 Price Update - 7.14% Breakout News and Analysis". We have received many valuable replies, the best ones (based on Experty community feedback) you can read below.

Interested in a specific topic?
Pick one keyword and dive into this theme

• mantra
• blockchain
• chain
• institution
• saving
• vault
• launch
• layer
• liquidity
• mainnet
• usdc
• yield
• coin
• reward

Explore the Core.

The essence of the MANTRA crypto network lies in its ability to enable seamless fractionalization and tokenization of real-world assets (RWAs), including art, commodities, and real estate. This is achieved through a permissionless blockchain with a robust identity system utilizing decentralized IDs (DIDs) and Soulbound NFTs for enhanced identity verification and simplified KYC/AML compliance. The network also features a governance system that allows for community participation in continuous upgrades and improvements, ensuring regulatory compliance and secure token movement across the Cosmos ecosystem through the Inter-Blockchain Communication (IBC) protocol.

Spot the Main Event:

Yesterday,1st of June,2024. Mantra network announced that over 180,000,000 $OM has been staked om Mantra, thats over 20% of the total $OM circulation. This is a significant stride toward the structuring of the Mantra market value. This staking added liquidity to Mantra, making it more valued, hereby spiking the price.

📸 Show Us What You Found:

Cute, funny and a little bit crazy!!!

Explore the Core.

MANTRA is a Security first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements. Built for Institutions and Developers, MANTRA offers a Permissionless Blockchain for Permissioned applications. Key Features: * Built using Cosmos SDK, IBC compatible, with CosmWasm supported * Secured via a sovereign PoS validator set * Scalable up to 10k TPS * Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs * Improved User Experience to onboard non-native users and institutions to Web3

Spot the Main Event:

MANTRA launches RWA savings vault powered by Ondo’s USDY. MANTRA, one of the world’s leading projects in the real world asset (RWA) tokenization sector of the digital assets industry, announced a major onchain product. This landmark event will feature two of the biggest players in the RWA space building deep liquidity support for RWA tokenization, an area of decentralized finance (DeFi) that has seen significant institutional interest this year. MANTRA will feature Ondo’s flagship interest-bearing tokenized note, USDY, as a genesis asset when its blockchain debuts, expected later this year. USDY provides holders with exposure to short-term US Treasury yield while maintaining the utility of stablecoins. (NOTE: USDY is not, and may not be, offered, sold or otherwise made available in the US or to US persons. USDY also has not been registered under the US Securities Act. To celebrate this liquidity landmark, both the Ondo Foundation and MANTRA will incentivize a multi-chain vault, providing users who contribute USDC to the vault with immediate access to high-quality yield. Users who remain in the vault until MANTRA Chain’s mainnet launch will receive ONDO tokens and mainnet OM coins in addition to the underlying yield. The duo expect the vault to open to the public in June on Ethereum and Base. To prevent the dilution of returns as participation grows, MANTRA and the Ondo Foundation have structured a ratcheting schedule of increasing rewards to be paid out as community participation milestones are met. MANTRA aims to bring DeFi composability and institutional-grade finance together onchain. USDY’s robust features include overcollateralization, third-party oversight and institutional-grade investor protections, making USDY a keystone asset for the burgeoning RWA ecosystem.

📸 Show Us What You Found:

Explore the Core.

MANTRA is a Security first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements. Built for Institutions and Developers, MANTRA offers a Permissionless Blockchain for Permissioned applications.

Spot the Main Event:

MANTRA recently launched RWA Savings Vault Powered by Ondo’s USDY. Ondo and MANTRA will incentivize a multi-chain USDY vault allowing contributors of USDC to gain access to low-risk, short-term US treasuries yield. Those holding until the MANTRA Chain mainnet launch will receive additional rewards — $ONDO and mainnet $OM coins, in addition to the underlying yield. Vaults open to the public in June 2024 on Ethereum and Base chain.

📸 Show Us What You Found:

Explore the Core.

MANTRA is a Security first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements. Built for Institutions and Developers, MANTRA offers a Permissionless Blockchain for Permissioned applications.

Spot the Main Event:

MANTRA Launches RWA Savings Vault Powered by Ondo's USDY. Ondo and MANTRA will incentivize a multi-chain USDY vault allowing contributors of USDC to gain access to low-risk, short-term US treasuries yield.

📸 Show Us What You Found:

Owojori

Spot the Main Event:

This announcement caused the price change MANTRA Launches RWA Savings Vault Powered by Ondo’s USDY Ondo and MANTRA will incentivize a multi-chain USDY vault allowing contributors of USDC to gain access to low-risk, short-term US treasuries yield. Those holding until the MANTRA Chain mainnet launch will receive additional rewards — $ONDO and mainnet $OM coins, in addition to the underlying yield. Vaults open to the public in June 2024 on Ethereum and Base chain. MANTRA will also integrate Ondo’s flagship interest-bearing tokenized note, USDY, as a genesis asset when the blockchain debuts later this year. This integration aims to actively build substantial liquidity support for RWA tokenization, catering to the growing demand from institutional investors. Nathan Allman, CEO of Ondo Finance, remarked, "We are excited to see the USDY vault launching on MANTRA, furthering our mission to bring institutional-grade assets to the world. This yield-bearing vault is an exciting step in our journey to bridge traditional finance and decentralized finance at scale.” MANTRA - From Institutions to Individuals: Bringing Finance Onchain.

📸 Show Us What You Found:

Explore the Core.

MANTRA is a Security first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements. Built for institutions and Developers, MANTRA offers a Permissionless Blockchain for Permissioned applications. Key Features: Built using Cosmos SDK, IBC compatible, with CosmWasm supported Secured via a sovereign PoS validator set Scalable up to 10k TPS Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAS Improved User Experience to onboard non-native users and institutions to Web3

web developer

Explore the Core.

Here's a dive into MANTRA's cryptocurrency essence: Focus: MANTRA is a privacy-focused protocol built on the Polkadot multi-chain network. It aims to provide a secure and scalable platform for private transactions across various blockchains. Problems Addressed: Lack of Privacy in Public Blockchains: Transactions on public blockchains like Bitcoin or Ethereum are entirely transparent, raising privacy concerns for users. MANTRA addresses this by offering confidential transactions that shield transaction details. Limited Interoperability between Blockchains: Different blockchains often operate in silos, hindering seamless communication and transfer of assets. MANTRA aims to bridge this gap by facilitating interoperable privacy-preserving transactions across various blockchains. Scalability Challenges of Privacy Protocols: Some privacy-focused protocols face scalability issues, limiting their ability to handle high transaction volumes. MANTRA leverages Polkadot's scalability features to address this challenge. Innovative Use Cases: Private Payments: Users can send and receive cryptocurrency payments on the MANTRA network with enhanced privacy, protecting their transaction details. Confidential DeFi Applications: MANTRA enables the development of privacy-preserving DeFi applications, allowing users to participate in DeFi activities without compromising their financial information. Inter-chain Privacy Swaps: MANTRA facilitates secure and private token swaps between different blockchains supported by the Polkadot network. Anonymous Voting and Governance: MANTRA can be used to create privacy-protected voting systems for decentralized organizations (DAOs) and other governance applications. Scalable Privacy Solutions: By building on Polkadot, MANTRA offers a more scalable solution for privacy-focused transactions compared to some existing privacy protocols. Overall, MANTRA offers a unique approach to privacy in the blockchain space. It combines privacy features with interoperability and scalability, aiming to cater to users seeking a more secure and confidential way to interact with various blockchains and DeFi applications.

Spot the Main Event:

MANTRA Launches RWA Savings Vault Powered by Ondo’s USDY #Ondo and #MANTRA will incentivize a multi-chain USDY vault allowing contributors of USDC to gain access to low-risk, short-term US treasuries yield. Those holding until the MANTRA Chain mainnet launch will receive additional rewards — $ONDO and mainnet $OM coins, in addition to the underlying yield. Vaults open to the public in June 2024 on @ethereum and @base chain. ✅ Interested users can join the waitlist here: https://mantra.jotform.com/241421998848976 MANTRA will also integrate Ondo’s flagship interest-bearing tokenized note, USDY, as a genesis asset when the blockchain debuts later this year. This integration aims to actively build substantial liquidity support for RWA tokenization, catering to the growing demand from institutional investors. Nathan Allman, CEO of Ondo Finance, remarked, “We are excited to see the USDY vault launching on MANTRA, furthering our mission to bring institutional-grade assets to the world. This yield-bearing vault is an exciting step in our journey to bridge traditional finance and decentralized finance at scale.” 👀 Read more: https://mantrachain.medium.com/mantra-launches-rwa-savings-vault-powered-by-ondos-usdy-3b12d96d81c2 MANTRA - From Institutions to Individuals: Bringing Finance Onchain.

📸 Show Us What You Found:

To God be the Glory

Explore the Core.

MANTRA is a security-first RWA Layer 1 Blockchain capable of adherence and enforcement of real world regulatory requirements. 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.

Spot the Main Event:

MANTRA Launches RWA Savings Vault Powered by Ondo’s USDY. To celebrate this liquidity milestone and reward early adopters, MANTRA and Ondo Foundation will incentivize a multi-chain USDY vault allowing contributors of USDC to gain access to low-risk, short-term US treasuries yield. Additionally, those who remain invested until the MANTRA Chain mainnet launch will be rewarded with additional rewards — Ondo (ONDO) tokens and mainnet OM coins on top of the underlying yield. This vault is opening to the public in June 2024 on both Ethereum and Base Chain.

📸 Show Us What You Found:

Freelancer , Copy Writer and Crypto lover

Explore the Core.

MANTRA is a Security first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements. Built for institutions and Developers, MANTRA offers a Permissionless Blockchain for Permissioned applications. Key Features: Built using Cosmos SDK, IBC compatible, with CosmWasm supported Secured via a sovereign PoS validator set Scalable up to 10k TPS Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAS Improved User Experience to onboard non-native users and institutions to Web3

Spot the Main Event:

This announcement caused the price change MANTRA Launches RWA Savings Vault Powered by Ondo’s USDY Ondo and MANTRA will incentivize a multi-chain USDY vault allowing contributors of USDC to gain access to low-risk, short-term US treasuries yield. Those holding until the MANTRA Chain mainnet launch will receive additional rewards — $ONDO and mainnet $OM coins, in addition to the underlying yield. Vaults open to the public in June 2024 on Ethereum and Base chain. MANTRA will also integrate Ondo’s flagship interest-bearing tokenized note, USDY, as a genesis asset when the blockchain debuts later this year. This integration aims to actively build substantial liquidity support for RWA tokenization, catering to the growing demand from institutional investors. Nathan Allman, CEO of Ondo Finance, remarked, "We are excited to see the USDY vault launching on MANTRA, furthering our mission to bring institutional-grade assets to the world. This yield-bearing vault is an exciting step in our journey to bridge traditional finance and decentralized finance at scale.” MANTRA - From Institutions to Individuals: Bringing Finance Onchain.

📸 Show Us What You Found:

Trade hard. Joy is coming

Explore the Core.

MANTRA is a security-first RWA Layer 1 Blockchain capable of adherence and enforcement of real world regulatory requirements. 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.

Spot the Main Event:

They thrilled to announce an incentivized RWA savings vault featuring Ondo’s USDY, a tokenized note secured by short-term US Treasuries and bank deposits. This launch will feature two of the biggest players in the RWA space building deep liquidity support for RWA tokenization, an area of decentralized finance (DeFi) that has seen significant institutional interest this year. MANTRA will feature Ondo’s flagship interest-bearing tokenized note, USDY, as a genesis asset upon mainnet launch, expected later this year. USDY provides holders with exposure to short-term US Treasury yield while conveniently packaged within the familiar utility of stablecoins. (NOTE: USDY is not, and may not be, offered, sold or otherwise made available in the US or to US persons. USDY also has not been registered under the US Securities Act.)

📸 Show Us What You Found:

Explore the Core.

MANTRA is a Security first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements. Built for Institutions and Developers, MANTRA is a Permissionless Blockchain for Permissioned applications.

Spot the Main Event:

MANTRA Launches RWA Savings Vault Powered by Ondo’s USDY: Ondo and MANTRA will incentivize a multi-chain USDY vault allowing contributors of USDC to gain access to low-risk, short-term US treasuries yield. Those holding until the MANTRA Chain mainnet launch will receive additional rewards — $ONDO and mainnet $OM coins, in addition to the underlying yield. MANTRA will also integrate Ondo’s flagship interest-bearing tokenized note, USDY, as a genesis asset when the blockchain debuts later this year. This integration aims to actively build substantial liquidity support for RWA tokenization, catering to the growing demand from institutional investors. There's also an increased staking of on to strengthen mantara

📸 Show Us What You Found:

Explore the Core.

MANTRA is a security-first RWA Layer 1 Blockchain capable of adherence and enforcement of real world regulatory requirements. 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.

Spot the Main Event:

They announced an incentivized RWA savings vault featuring Ondo’s USDY, a tokenized note secured by short-term US Treasuries and bank deposits. This launch will feature two of the biggest players in the RWA space building deep liquidity support for RWA tokenization, an area of decentralized finance (DeFi) that has seen significant institutional interest this year. To celebrate this liquidity milestone and reward early adopters, MANTRA and Ondo Foundation will incentivize a multi-chain USDY vault allowing contributors of USDC to gain access to low-risk, short-term US treasuries yield. Additionally, those who remain invested until the MANTRA Chain mainnet launch will be rewarded with additional rewards — Ondo (ONDO) tokens and mainnet OM coins on top of the underlying yield. This vault is opening to the public in June 2024 on both Ethereum and Base Chain.

📸 Show Us What You Found:

Overview

MANTRA is a securityfirst RealWorld Asset (RWA) Layer 1 blockchain designed to facilitate the seamless fractionalization and tokenization of realworld assets such as art, commodities, and real estate. Built for institutions and developers, MANTRA offers a permissionless blockchain for permissioned applications, ensuring regulatory compliance and secure token movement across the Cosmos ecosystem. Its unique value proposition lies in its robust identity system utilizing decentralized IDs (DIDs) and Soulbound NFTs for enhanced identity verification and simplified KYC/AML compliance.

Key Features

Cosmos SDK & IBC Compatibility: Ensures interoperability and secure token movement across the Cosmos ecosystem. Sovereign PoS Validator Set: Provides security and scalability up to 10,000 TPS. Builtin Modules, SDKs, and APIs: Facilitates the creation, trading, and management of regulatorycompliant RWAs. Enhanced User Experience: Simplifies onboarding for nonnative users and institutions to Web3. RWA Savings Vault: Powered by Ondo’s USDY, offering lowrisk, shortterm US treasuries yield.

Use Cases

Tokenization of RealWorld Assets: Enables fractional ownership and trading of assets like real estate and art. Regulatory Compliance: Attracts institutional and retail users by adhering to global regulatory standards. DeFi Applications: Supports the development of privacypreserving DeFi applications and private payments.

Recent Developments

June 2024: Over 180,000,000 $OM staked, representing over 20% of the total $OM circulation. RWA Savings Vault Launch: Powered by Ondo’s USDY, offering additional rewards for contributors holding until the MANTRA Chain mainnet launch. First RWAfocused Hackathon: Held in Jaipur with over 200 developers participating. Consensus 2024 Attendance: Engaged in intensive community discussions and networking.

Market Impact

Increased Staking: The significant staking of $OM tokens strengthens MANTRA’s market value and mission of bringing finance onchain. Institutional Interest: The launch of the RWA Savings Vault and compliance with regulatory standards are likely to attract institutional investors. Community Buzz: Recent price spikes and active community engagement indicate growing interest and adoption.

Risks and Opportunities

Risks

Regulatory Challenges: Navigating global regulatory landscapes can be complex and may pose compliance risks. Technical Issues: Potential security breaches or technical failures could impact user trust and adoption.

Opportunities

Growing Demand for RWAs: Increasing interest in tokenized realworld assets presents significant growth potential. Institutional Adoption: Compliance with regulatory standards can attract a broader range of institutional investors. Innovative DeFi Solutions: The platform’s focus on privacy and regulatory compliance positions it well for developing advanced DeFi applications.

Community Engagement

Active Community: The MANTRA community is vibrant, with active discussions on platforms like Telegram, Discord, and Twitter. Engagement Strategies: Regular updates, AMAs, and community events keep users informed and engaged. Community Size: A large and growing community base supports sustained growth and adoption.

Conclusion

MANTRA’s innovative approach to tokenizing realworld assets, combined with its focus on regulatory compliance and security, positions it as a compelling choice for traders and investors. The recent developments, including significant staking and the launch of the RWA Savings Vault, indicate strong market potential. However, traders should consider the regulatory and technical risks while evaluating the opportunities for growth and institutional adoption. Overall, MANTRA’s unique value proposition and active community engagement make it a noteworthy project in the cryptocurrency market.

This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.