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RWA-focused Layer 1 Blockchain MANTRA announced the strategic partnership with Ondo Finance. With the report going live, the platform saw a 30% increase in the amount of OM staked, which signalizes serious adoption growth among investors.
Strong Staking Growth
Staking activity has significantly increased as a result of investor enthusiasm for OM. More than 200 million OM tokens worth around $180 million at current market price of $0.90, are currently in staking. This number indicates a 30% rise in staked OM following the announcement of the Ondo partnership.
The increase in staking shows that investors are confident in MANTRAs long-term prospects and its novel approach to RWA tokenization. This spike in staking activity is being caused by a number of factors.
Lucrative rewards
Staking can yield lucrative rewards from OM including a 35 percent bonus up until the mainnet launch. This incentive increases stakers potential returns and promotes long-term holding. For investors who want to support the MANTRA ecosystem while maximizing their returns the increased staking rewards are a big lure.
Growth of RWAs
As the Real-World Asset (RWA) market grows rapidly OM is positioned to become a major beneficiary in the ascending trend. More and more investors are turning to OM in an attempt to gain exposure to the thriving market. One of the main things attracting attention to MANTRA is the possibility that RWA tokenization, which places real-world assets on the blockchain, will revolutionize finance.
The Real-World Asset market is expected to grow significantly over the next few years according to a number of projections. Recent reports suggest that by 2030 the market for tokenization of real assets could reach a value of $10 trillion.
🔥 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… pic.twitter.com/X8ALXIFoGj
— MANTRA - Tokenizing RWAs (@MANTRA_Chain) May 31, 2024
The commodity-backed token and tokenized treasury product markets are two areas where significant progress is anticipated in the RWA market in 2024. One example is the $1.1 billion market capitalization of tokens like Tether Gold (XAUT) and PAX Gold (PAXG) widely used by both blockchain users and traditional investors.
Ondo Collaboration. Investor confidence in OMs potential has been greatly enhanced by the partnership with Ondo Finance. This collaboration offers the MANTRA Chain a number of innovative developments.
- RWAs Are Coming: By expanding the opportunities for RWA tokenization innovation the partnership strengthens MANTRAs position as leading Layer 1 blockchain in the industry.
- ONDOs USDY Vault Lands on MANTRA: With this development users can maintain stablecoin utility while being exposed to short-term US Treasuries.
ONDOs USDY vault which currently has a $450 million Total Value Locked (TVL) is a reflection of a growing investor interest. It is anticipated that this integration will draw even more TVL to the MANTRA chain.
In a future airdrop 4% of the total amount of SOMA tokens will be available to stakers. Voting rights and potential future benefits are provided to holders of SOMA, the native governance token of the MANTRA ecosystem. Staking OMs value proposition is further reinforced by this additional incentive.