Buy Mantra (MANTRA)

Openness, reliability and scalability are key requirements for a modern crypto ecosystem. These are also the qualities that Mantra (OM) wants to be known for. Initially, this DeFi ecosystem was called Mantra DAO, but in 2020 the company changed in several ways. Not only by changing its name, but also by offering more products and services for institutional and traditional investors from all over the world. Anyone who invests in the OM token enters Mantra’s ecosystem: the OMniverse.

This ecosystem uses a vertical blockchain. This means that the network has a larger capacity to process larger amounts of transactions. The blockchain is just a small part of the OMniverse, which consists of four pillars: Mantra Nodes, Mantra Chain, Mantra Finance and Mantra DAO. Within these pillars fall various products and services. Together they form the Mantra ecosystem.

Mantra is one of the first layer 1 blockchains that focuses on Real World Assets (RWA). Real world assets are tokenized on the blockchain. This means that physical products, such as gold and art objects, now also have a digital variant. This process is permissionless and always compliant with the law. RWAs have the potential to take DeFi to the next level, as assets outside the blockchain can now participate.

Who founded Mantra?

Mantra’s history dates back to June 2020, in the midst of the COVID-19 era. The virus didn’t stop Rodrigo Quan Miranda, John Patrick Mullin, and Will Corkin from starting a new project: Mantra DAO. The trio had a background in finance and blockchain, with Mullin working at a Chinese investment firm and Corkin being the former VP of business development at Trade.io. The trio launched their decentralized autonomous organization Mantra DAO in October 2021. At the time, it was one of the first projects on the Polkadot blockchain.

Mantra’s platform aims to create a decentralized Web 3.0, where transparency and community involvement are key. The platform is comprehensive and offers traditional and institutional investors a wide range of possibilities, namely:

• Combination of DeFi and Web3: From day one, this project tries to combine DeFi with the capabilities of Web3 apps and Real World Assets (RWA).
• Staking: Users have the option to lock OM tokens for a longer period of time. This means that it is not possible to trade or sell the crypto for a certain period of time.
• Receiving rewards: Those who lock up their OM tokens for a longer period of time will receive a reward in the form of crypto. This is a popular way to generate passive income.
• Winning prizes with games: A popular game is 'Mantra Pool', where every week five participants have a chance to win prizes.
• Borrowing: Assets can be borrowed on this platform by using deposited tokens as collateral. This allows for lending without intermediaries, which is in line with the decentralized nature of Mantra (OM).
• Lending: Mantra enables decentralized lending of assets. This works according to a fixed step-by-step plan. First, a user deposits his or her OM tokens into a liquidity pool. Another cryptocurrency is also allowed. Then, the staker receives interest on his or her deposits. The assets in the liquidity pools are then used for loans to other users.

Mantra was founded in 2021 as a decentralized autonomous organization, simply abbreviated as DAO. This means that a community of OM token holders makes important decisions about the platform. There is no centralized authority, resulting in an independently operating platform. Instead, token holders vote on upgrades, proposals, partnerships, financial management, and further development of the protocol.

Mantra Nodes, Mantra Chain, Mantra Finance, and Mantra DAO are the building blocks of the Mantra ecosystem. Nodes are the core of the ecosystem as they allow you to earn rewards on different blockchains. This allows for a wider reach for Mantra as they operate on different blockchains. Mantra Chain focuses on the Cosmos ecosystem and is a protocol for the regulated assets found there. Finally, the project has its own regulated DeFi platform called Mantra Finance. The goal of this component is to better combine DeFi with the traditional financial world.

Karma as a reward

Anyone using this DeFi platform will sooner or later encounter 'Karma'. This is a reputation system where users earn points if they are active within the ecosystem. For example, there is a reward for voting on governance proposals, staking tokens and/or providing liquidity. A high Karma score often provides additional benefits, rewards and governance rights. For example, an active participant in the community has more voting rights. The Karma system was therefore devised to reward active users and stimulate loyalty.

The DeFi platform Mantra (OM) is gaining popularity. It is a unique crypto project for several reasons:

• Delegated Proof-of-Stake consensus mechanism (DPoS): This means that delegates are selected to participate in the consensus process. This means that a select group is responsible for validating transactions and securing the network.
• You can tokenize real-world assets: Real-world assets can be tokenized on the blockchain. This opens up a world of new possibilities for crypto investors, as there are now options outside the blockchain.
• Lots of opportunities to build Web3 applications: Software developers flock to it because they are allowed to build all kinds of Web3 applications without the involvement of authorities. With the help of the scalable blockchain, it is possible for users to create all kinds of digital applications.
• Users can earn interest on loans: This project enables cross-chain multi-asset loans. Borrowers receive a reward in the form of interest.
• It is also a decentralized exchange: Besides being a DeFi platform, Mantra is also a decentralized exchange with various trading options such as crypto trading and staking.
• Build a reputation with the Karma Protocol: Those who contribute a lot to the Mantra ecosystem build a good reputation. Active users have a high Karma score and enjoy various benefits, such as lower interest rates on loans and lower commissions on bets.

Looking to buy Mantra (OM)? This crypto token is available at Bitvavo. Our platform is suitable for both novice and experienced traders. Follow these steps to buy OM via our website or mobile app:

1. Sign up or log in to your Bitvavo account.
2. Make a deposit by clicking "Deposit".
3. Visit the Mantra (OM) purchase page to see how much the token costs.
4. Specify the amount in euros you want to invest or the number of OM you wish to purchase and click "Buy".

The price of OM tokens is directly linked to the current market value. After purchase, tokens are automatically added to your Bitvavo account, where you can easily manage and trade them. This allows you to respond quickly and accurately to current market movements. You can also see at a glance how much the crypto coin is worth. Keep a close eye on the news to stay informed of developments in the crypto market.

Want to store OM tokens in a safe and reliable way? That is easily done in your Bitvavo account. The exchange stores the majority of its customers' credit in secure and offline cold storage. Despite these security measures, it is wise to use two-factor authentication (2FA) as an additional security measure. This means that in addition to a password, you enter an extra code when logging in.

Activating 2FA is easy. Simply download Google Authenticator or a similar authenticor app, and link the app to your Bitvavo account. A code will then appear on the screen which you must use to log in. This code changes after a minute to guarantee complete security.