Crypto platform Binance now validates transactions on Mantra's blockchain, yet Mantra's token price remains uncertain
In the world of cryptocurrency, Mantra DAO continues to make strides in its mission to revolutionize the decentralized finance (DeFi) landscape. A recent development saw the crypto analysis firm, Park Yong, attribute the crash of OM to a liquidity wipeout, triggered by cascading liquidations on centralized exchanges (CEXs), rather than a project flaw.
Despite the crash, Mantra DAO has shown resilience, with OM surviving and continuing to grow its RWA base, integrate new tokenized assets, and maintain regulatory clarity, according to Park Yong.
Mantra DAO operates a delegated proof-of-stake (DPoS) network, where OM token holders can stake to support network validation and earn rewards. Notable validators within the Mantra network include Binance, Nansen, Google Cloud, Twinstake, and Hex Trust. Binance's inclusion as a validator is a significant update, signaling a boost in network security and decentralization.
In terms of partnerships, Binance's inclusion as a validator is the most recent highlight, with no other specific new partnership announcements detailed in the official recent news. However, Mantra DAO has established partnerships with the Rio blockchain and the Polkadot ecosystem, supporting cross-chain interoperability and DeFi services, which form part of its foundational architecture.
A significant financial boost came Mantra's way with a $20m investment from Inveniam, secured to advance the global RWA ecosystem. The investment originated from the UAE, and while the exact use of the funds has not been specified, it could potentially expand Mantra's operations in the U.S.
Mantra's partnership with agri-tech platform Dimitra is another notable development. This partnership aims to tokenize agricultural commodities like cacao and carbon credits. Additionally, Mantra has partnered with Brazil's largest crypto exchange, Mercado Bitcoin, to tokenize over $200 million in assets this year.
Lastly, Mantra joined forces with WIN Investments to launch "transfer tokens" tied to FIFA's Solidarity Mechanism. This partnership aims to provide a new avenue for supporting global football development initiatives.
However, the OM price action indicates that investors are still cautious, and there's work to be done to rebuild their confidence. Despite this, Mantra DAO continues to forge ahead, solidifying its position in the DeFi sector with strategic partnerships and investments.
- Binance's inclusion as a validator in Mantra DAO's network indicates a boost in network security and decentralization.
- Mantra DAO has established partnerships with the Rio blockchain, the Polkadot ecosystem, agri-tech platform Dimitra, and Brazil's largest crypto exchange, Mercado Bitcoin.
- A significant financial boost came Mantra's way with a $20m investment from Inveniam, secured to advance the global RWA ecosystem.
- Mantra DAO has recently entered into a partnership with WIN Investments to launch "transfer tokens" tied to FIFA's Solidarity Mechanism, aiming to provide a new avenue for supporting global football development initiatives.
