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Bitcoin Exchange Upbit Announces It Will List Its Layer 1 Project on Its Spot Trading Platform! Here Are the Details

source-logo  en.bitcoinsistemi.com 21 May 2025 07:55, UTC
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Upbit, one of the largest cryptocurrency exchanges in South Korea, is adding a new digital asset listing. The exchange announced that it will support its Layer 1 blockchain project MANTRA (OM) with KRW (Korean Won), $BTC and $USDT trading pairs. Trading support will begin on May 21 at 15:00.

Upbit Announces New Trading Pairs for MANTRA (OM): Support Begins in KRW, $BTC, and $USDT Markets

According to the statement made by Upbit, both deposits and withdrawals for MANTRA (OM) will be activated within two hours after the official announcement.

Temporary Transaction Restrictions

As with new asset listings, some temporary trading restrictions will apply to OM:

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  • Buying Restriction: Buying orders will not be allowed during the first 5 minutes after the start of trading support.
  • Minimum Sale Price Limit: During the same period, sell orders cannot be placed at 10% below the previous closing price.
  • Order Type Limitation: Only limit orders will be accepted for 2 hours after trading starts.

These measures aim to maintain market stability and prevent sudden price fluctuations.

What is OM Token?

MANTRA (OM) is the native token of MANTRA Chain, a Layer 1 blockchain focused on tokenization of physical assets, based on Cosmos SDK and compatible with the Ethereum virtual machine. The network offers the following components optimized for enterprise use:

  • MANTRA DID: Authentication system
  • MANTRA Guard: DeFi security module that supports regulatory compliance
  • MANTRA Token Service: Physical asset tokenization infrastructure

The OM token is used for network fees, staking, governance, authentication levels, liquidity incentives, and regulatory reporting.

The listing of MANTRA (OM) further demonstrates Upbit’s emphasis on DeFi-focused projects in its expanding digital asset portfolio, and is expected to attract increasing interest from institutional and individual investors.

*This is not investment advice.

en.bitcoinsistemi.com