In the wave of differentiation in the crypto market in 2024, MANTRA (OM) stood out with an amazing performance of more than 6418% in the whole year, becoming the leader in the real-world asset tokenization (RWA) track. This surge is not accidental. Behind it is MANTRA's in-depth layout in the Middle East market, technological innovation and compliance capabilities, which also reflects the huge potential of the trillion-level RWA market.

1. The explosion of MANTRA: from technology implementation to ecological expansion

1. Middle East Market: Leveraging $1 billion in asset tokenization

MANTRA has made the Middle East its strategic focus and has reached a cooperation with Dubai real estate giant DAMAC Group, planning to tokenize at least $1 billion of the latter's assets in the UAE, covering real estate, hospitality and data center sectors. This cooperation is not only a recognition of blockchain technology by traditional capital in the Middle East, but also marks RWA's move from "proof of concept" to large-scale application. Previously, MANTRA has cooperated with MAG Property Development to tokenize $500 million in real estate assets, and signed a memorandum with Zand Bank, a digital bank authorized by the UAE Central Bank, to build a compliance framework.

2. Technical Architecture: RWA Full-Stack Solution

The MANTRA mainnet will launch in October 2024, with its core modules including:

  • MANTRA Guard: Compliance system to ensure asset issuance meets regulatory requirements;

  • MANTRA Token Service (MTS): Supports the creation, management, and circulation of tokenized assets;

  • Decentralized Exchange (DEX) and Liquidity Efficient Emission Protocol (LEEP), addressing the pain point of insufficient liquidity for RWA assets.
    These tools form a closed loop, allowing traditional assets to be put on-chain at low cost and high efficiency, and to realize value appreciation through the DeFi ecosystem.

3. Capital and Ecological Synergy

In 2024, MANTRA completed a $11 million financing round, receiving strategic investment from Nomura Securities' digital asset subsidiary Laser Digital, and launched the Binance BNSOL super staking program, further expanding its user base. Its token OM is not only used for governance but also serves as staking rewards and a core component of the RWA ledger, forming a closed loop of value capture.

II. The Iceberg of the RWA Market: Opportunities and Challenges Under a Trillion Scale

1. Track Explosion: From U.S. Treasury Bonds to Real Estate

The RWA market is rapidly expanding in 2024, with institutions predicting that its tokenized asset scale will reach $50 billion by 2025 and continue to explode. The rise of MANTRA validates the feasibility of 'high-quality assets on-chain':

  • Ondo Finance manages over $600 million in assets through the tokenization of U.S. Treasury bonds;

  • Maple Finance shifts to collateralized lending, achieving an annualized return of 9.69%;

  • CentrifugeRealizing private credit transparency through NFT collateralization.
    In contrast, MANTRA builds a differentiated advantage by focusing on high-net-worth real estate in the Middle East.

2. Compliance Breakthrough: Dubai License and Regulatory Adaptation

In February 2025, MANTRA obtained a service provider license issued by the **Dubai Virtual Assets Regulatory Authority (VARA)**, becoming one of the few compliant RWA platforms operating in the Middle East. This development not only bridges traditional finance and on-chain assets but also provides a template for cross-jurisdictional asset circulation.

3. Liquidity Dilemma and Innovative Solutions

RWA assets generally face the challenge of insufficient liquidity. MANTRA attempts to solve this problem by designing dynamic liquidity pools through the LEEP protocol, combined with the automated market-making mechanism of DEX. Furthermore, its deep integration with DeFi protocols (such as lending and fractional real estate products) further releases the composability of assets.

III. Future Outlook: From 'On-chain' to 'Composability'

MANTRA CEO - John Mullin proposed a three-stage roadmap:

  1. Supply-side Driven: Attracting Quality Assets On-chain (Current Phase);

  2. Liquidity Construction: Building secondary markets and trading venues;

  3. Explosion of Composability: RWA assets integrating into diverse DeFi scenarios across chains.
    If progress goes as planned, MANTRA is expected to achieve$100 billion TVLgoal by 2026, becoming the core layer of RWA infrastructure.

Meanwhile, industry trends indicate:

  • Accelerated Institutional Entry: Traditional asset management giants like BlackRock and Grayscale have already laid out RWA products;

  • Improved Regulatory Framework: Policies in regions such as the U.S. and the UAE are gradually clarifying, lowering compliance thresholds;

  • Deepening Technological Integration: AI and IoT will enhance the efficiency of asset on-chain, while 5G and cloud computing will optimize data processing.

Conclusion: The 'On-chain Golden Era' of RWA

The surge of MANTRA is just the tip of the iceberg in the trillion-dollar RWA market. As traditional assets flow into the blockchain in tokenized form, the efficiency, transparency, and inclusiveness of financial markets will be reshaped. However, this process still needs to overcome challenges such as liquidity fragmentation and regulatory fragmentation. MANTRA's practices indicate that compliant frameworks, ecological synergy, and technological innovation are key to breaking through. In the future, whoever can first connect the value channels between reality and on-chain will occupy a commanding position in the 'on-chain golden era' of RWA.

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