RWA Track: MANTRA (OM) Has Been Active in the Past Year
In the RWA track, MANTRA (OM) has been very active over the past year. The project launched its mainnet in October 2024. On January 9, MANTRA announced that it has reached an agreement with DAMAC Group, a real estate group based in Dubai, to tokenize at least $1 billion in assets held by the group in the UAE.

A 64-Fold Increase in One Year: What Moves Has the RWA L1 Project MANTRA Made?

On January 9, the blockchain Layer 1 project MANTRA for real-world asset (RWA) tokenization announced that it had reached an agreement with DAMAC Group, a real estate group headquartered in Dubai, to tokenize at least $1 billion in assets held by the group in the UAE. MANTRA (OM) has been very active in the RWA track over the past year. The project launched its mainnet in October 2024, and its token subsequently saw a significant increase in value. According to CoinGecko data, from January 1 to December 25, 2024, MANTRA (OM) saw a full-year increase of 6,418.3%, with its price rising from $0.0584 on January 1 to $3.81 on December 25, making it the best-performing RWA investment project in 2024.

The Middle East Becomes a Business Focus, Tokenizing $1 Billion in Assets
John Mullin, co-founder and CEO of MANTRA, said that DAMAC's support is "a huge vote of confidence in the future of RWA tokenization". DAMAC is a well-known real estate developer under the Hussain Sajwani family in the UAE. The group's investments are divided into seven core areas: real estate, capital markets, hotels and resorts, manufacturing, catering, high-end fashion, and data centers. Some of DAMAC Group's most significant entities include DAMAC Properties. DAMAC has acquired Italian fashion brand Roberto Cavalli and Swiss luxury jewelry brand de GRISOGONO. It has also developed the 50-story DAMAC Towers Nine Elms in London and a luxury resort in the Maldives.

According to reports from The Guardian and the Associated Press, founder Hussain Sajwani is a close friend and partner of Trump. According to a report from CNBC, US President-elect Trump recently announced that UAE billionaire Hussain Sajwani has pledged at least $20 billion in foreign investment to build new data centers in the US.

This new agreement between the two parties aims to provide token-based financing for DAMAC's portfolio companies, covering real estate, hospitality, and data centers. This collaboration is expected to increase investment accessibility and streamline processes, with the tokenization of these assets expected to begin in early 2025.

Currently, MANTRA has operations in Hong Kong, Singapore, and several other regions, with a primary operational focus in the Middle East, particularly Dubai. Last year, MANTRA also reached an agreement with developer MAG Property Development to tokenize $500 million in real estate assets, starting with a residential project in Dubai. In addition, MANTRA has signed a memorandum of understanding (MOU) with Zand Bank, a digital bank authorized by the Central Bank of the UAE. The cooperation between the two entities will focus on developing a framework to support the tokenization and distribution of RWAs, in compliance with the regulations of the Dubai Virtual Assets Regulatory Authority (VARA).

A 64-Fold Increase in One Year: What Moves Has the RWA L1 Project MANTRA Made?

2024 Report Card: $11 Million in Financing, Mainnet Launch
From the official annual review, MANTRA's activities in 2024 were quite frequent. As early as March 2024, MANTRA completed an $11 million financing round led by Shorooq Partners. Two months later, MANTRA received a strategic investment from Nomura's digital asset subsidiary, Laser Digital. Currently, MANTRA has developed an RWA suite, including digital identity (DID), compliance system MANTRA Guard, token management system MTS, decentralized exchange (DEX), and liquidity-efficient emission protocol (LEEP). These modules work together to effectively manage and circulate tokenized RWA assets within a compliance framework.

Among them, the MANTRA Token Service (MTS) is a comprehensive module that allows the creation, management, and control of tokenized assets on the MANTRA Chain. Its main functions include: token factory, configurable workflows, administrator permissions, comprehensive token management (minting, burning, seizing, freezing, distributing), built-in functions, jurisdictional compliance, and bank module integration. MANTRA DEX (decentralized exchange) introduces a protocol-layer liquidity pool system that forms the core of the platform's decentralized finance (DeFi), creating a permissionless environment that provides blockchain-integrated liquidity, with bespoke whitelisted liquidity pools operating as a standard automated market maker (AMM) exchange mechanism. MANTRA LEEP (liquidity-efficient emission protocol) is currently under development, aiming to address the widespread liquidity shortage in the crypto market, especially for assets outside the top cryptocurrencies like Bitcoin and Ethereum. LEEP aims to solve the liquidity problem for tokenized real-world assets, which typically lack liquidity even in traditional markets. MANTRA's mainnet launched on October 23, 2024. Users can perform several important activities, including: bridging OM tokens from ERC-20 to the MANTRA mainnet token to gain access to future RWA tokens; staking OM to help secure the network and earn on-chain staking rewards; OM becoming an important part of the RWA ledger; and earning KARMA by completing new tasks on the mainnet.

A 64-Fold Increase in One Year: What Moves Has the RWA L1 Project MANTRA Made?

Self-Identified as Still in Phase One, Bringing High-Quality Assets On-Chain
MANTRA's CEO Mullin said in a previous X Space that the project aims to become the record-keeping ledger for asset issuance or RWAs. He said: "For the large-scale adoption of RWAs, whether in the retail market or at a broader market level, we need a public blockchain that can be compatible with the broader DeFi ecosystem. At the same time, we have built a permissionless layer on MANTRA that allows asset issuers, tokenization platforms, and regulated trading venues to easily, simply, and compliantly issue, distribute, and manage RWAs." He also mentioned MANTRA's work in expanding its DApp ecosystem, which includes secondary markets, an upcoming licensed on-chain RWA liquidity hub called Omega, and collaborations with various DeFi providers for lending, borrowing, and fractional real estate products. He also mentioned explorations in private credit, payments, and carbon credits. Looking ahead, Mullin outlined a three-phase approach to developing the RWA space: "Right now, we are in phase one, focusing on the supply side, bringing high-quality assets on-chain. Phase two will focus on liquidity and secondary market venues, while the final stage will unlock the composability of RWAs, enabling them to be used in different DeFi applications." He has ambitious plans for MANTRA: "I want us to have $100 billion in RWA TVL by the end of 2026. Right now, we are literally teaching one person at a time how to do things on the chain, which is pretty slow. But we are legitimately bringing in new money, new capital, and new users who have never done it before. That's a really powerful thing. Over time, it will snowball into something that will take us to the pinnacle of RWA where we want to be. But it will take time."

Overall, MANTRA's collaboration with DAMAC marks a further application of blockchain technology in the Middle East's real estate tokenization field and provides new opportunities for the RWA track.

RWA Track: MANTRA (OM) Has Been Active in the Past Year
In the RWA track, MANTRA (OM) has been very active over the past year. The project launched its mainnet in October 2024. On January 9, MANTRA announced that it has reached an agreement with DAMAC Group, a real estate group based in Dubai, to tokenize at least $1 billion in assets held by the group in the UAE.

A 64-Fold Increase in One Year: What Moves Has the RWA L1 Project MANTRA Made?

On January 9, the blockchain Layer 1 project MANTRA for real-world asset (RWA) tokenization announced that it had reached an agreement with DAMAC Group, a real estate group headquartered in Dubai, to tokenize at least $1 billion in assets held by the group in the UAE. MANTRA (OM) has been very active in the RWA track over the past year. The project launched its mainnet in October 2024, and its token subsequently saw a significant increase in value. According to CoinGecko data, from January 1 to December 25, 2024, MANTRA (OM) saw a full-year increase of 6,418.3%, with its price rising from $0.0584 on January 1 to $3.81 on December 25, making it the best-performing RWA investment project in 2024.

The Middle East Becomes a Business Focus, Tokenizing $1 Billion in Assets
John Mullin, co-founder and CEO of MANTRA, said that DAMAC's support is "a huge vote of confidence in the future of RWA tokenization". DAMAC is a well-known real estate developer under the Hussain Sajwani family in the UAE. The group's investments are divided into seven core areas: real estate, capital markets, hotels and resorts, manufacturing, catering, high-end fashion, and data centers. Some of DAMAC Group's most significant entities include DAMAC Properties. DAMAC has acquired Italian fashion brand Roberto Cavalli and Swiss luxury jewelry brand de GRISOGONO. It has also developed the 50-story DAMAC Towers Nine Elms in London and a luxury resort in the Maldives.

According to reports from The Guardian and the Associated Press, founder Hussain Sajwani is a close friend and partner of Trump. According to a report from CNBC, US President-elect Trump recently announced that UAE billionaire Hussain Sajwani has pledged at least $20 billion in foreign investment to build new data centers in the US.

This new agreement between the two parties aims to provide token-based financing for DAMAC's portfolio companies, covering real estate, hospitality, and data centers. This collaboration is expected to increase investment accessibility and streamline processes, with the tokenization of these assets expected to begin in early 2025.

Currently, MANTRA has operations in Hong Kong, Singapore, and several other regions, with a primary operational focus in the Middle East, particularly Dubai. Last year, MANTRA also reached an agreement with developer MAG Property Development to tokenize $500 million in real estate assets, starting with a residential project in Dubai. In addition, MANTRA has signed a memorandum of understanding (MOU) with Zand Bank, a digital bank authorized by the Central Bank of the UAE. The cooperation between the two entities will focus on developing a framework to support the tokenization and distribution of RWAs, in compliance with the regulations of the Dubai Virtual Assets Regulatory Authority (VARA).

A 64-Fold Increase in One Year: What Moves Has the RWA L1 Project MANTRA Made?

2024 Report Card: $11 Million in Financing, Mainnet Launch
From the official annual review, MANTRA's activities in 2024 were quite frequent. As early as March 2024, MANTRA completed an $11 million financing round led by Shorooq Partners. Two months later, MANTRA received a strategic investment from Nomura's digital asset subsidiary, Laser Digital. Currently, MANTRA has developed an RWA suite, including digital identity (DID), compliance system MANTRA Guard, token management system MTS, decentralized exchange (DEX), and liquidity-efficient emission protocol (LEEP). These modules work together to effectively manage and circulate tokenized RWA assets within a compliance framework.

Among them, the MANTRA Token Service (MTS) is a comprehensive module that allows the creation, management, and control of tokenized assets on the MANTRA Chain. Its main functions include: token factory, configurable workflows, administrator permissions, comprehensive token management (minting, burning, seizing, freezing, distributing), built-in functions, jurisdictional compliance, and bank module integration. MANTRA DEX (decentralized exchange) introduces a protocol-layer liquidity pool system that forms the core of the platform's decentralized finance (DeFi), creating a permissionless environment that provides blockchain-integrated liquidity, with bespoke whitelisted liquidity pools operating as a standard automated market maker (AMM) exchange mechanism. MANTRA LEEP (liquidity-efficient emission protocol) is currently under development, aiming to address the widespread liquidity shortage in the crypto market, especially for assets outside the top cryptocurrencies like Bitcoin and Ethereum. LEEP aims to solve the liquidity problem for tokenized real-world assets, which typically lack liquidity even in traditional markets. MANTRA's mainnet launched on October 23, 2024. Users can perform several important activities, including: bridging OM tokens from ERC-20 to the MANTRA mainnet token to gain access to future RWA tokens; staking OM to help secure the network and earn on-chain staking rewards; OM becoming an important part of the RWA ledger; and earning KARMA by completing new tasks on the mainnet.

A 64-Fold Increase in One Year: What Moves Has the RWA L1 Project MANTRA Made?

Self-Identified as Still in Phase One, Bringing High-Quality Assets On-Chain
MANTRA's CEO Mullin said in a previous X Space that the project aims to become the record-keeping ledger for asset issuance or RWAs. He said: "For the large-scale adoption of RWAs, whether in the retail market or at a broader market level, we need a public blockchain that can be compatible with the broader DeFi ecosystem. At the same time, we have built a permissionless layer on MANTRA that allows asset issuers, tokenization platforms, and regulated trading venues to easily, simply, and compliantly issue, distribute, and manage RWAs." He also mentioned MANTRA's work in expanding its DApp ecosystem, which includes secondary markets, an upcoming licensed on-chain RWA liquidity hub called Omega, and collaborations with various DeFi providers for lending, borrowing, and fractional real estate products. He also mentioned explorations in private credit, payments, and carbon credits. Looking ahead, Mullin outlined a three-phase approach to developing the RWA space: "Right now, we are in phase one, focusing on the supply side, bringing high-quality assets on-chain. Phase two will focus on liquidity and secondary market venues, while the final stage will unlock the composability of RWAs, enabling them to be used in different DeFi applications." He has ambitious plans for MANTRA: "I want us to have $100 billion in RWA TVL by the end of 2026. Right now, we are literally teaching one person at a time how to do things on the chain, which is pretty slow. But we are legitimately bringing in new money, new capital, and new users who have never done it before. That's a really powerful thing. Over time, it will snowball into something that will take us to the pinnacle of RWA where we want to be. But it will take time."

Overall, MANTRA's collaboration with DAMAC marks a further application of blockchain technology in the Middle East's real estate tokenization field and provides new opportunities for the RWA track.