On 6 November, 2024, the MANTRA community approved Proposal 26 to redenominate $OM tokens to $MANTRA. Below is a quick explainer of what this proposal means for you.

What's Changing?

The redenomination streamlines our tokenomics using a 1:4 ratio:

• Supply: Multiplied by 4

• Price: Divided by 4

• Your Value: Stays exactly the same

The Key Numbers

As shown in the example above, while the price adjusts from $0.10 to $0.025 and supplies multiply by 4, the market cap and FDV remain completely unchanged at ~$110.35M and ~$171.69M respectively.

Market Cap = Price × Circulating Supply

• When price divides by 4 and supply multiplies by 4, they balance

• ($0.10 × 1.103B) = ($0.025 × 4.413B) = $110.35M

FDV = Price × Total Supply

• When price divides by 4 and total supply multiplies by 4, they balance

• ($0.10 x 1.718B) = ($0.025 x 6.872B) = $171.69M

This strategic alignment ensures no value is created or destroyed while better positioning us for our ecosystem's future.

What About Staking?

Inflation remains unchanged, which means:

• APR for staking remains the same

• Your staking rewards maintain the same value

• The percentage yield on your staked position is unaffected

‍An Example

As illustrated above, if you hold 1,000 $OM today worth $100, after the redenomination you'll have 4,000 $MANTRA tokens, each worth $0.025, maintaining your total value at $100.

What Do I Need to Do?

For most holders on MANTRA Chain or supported exchanges, no action is required. Your tokens will automatically convert at the 4:1 ratio.  

For specific situations (LP positions, IBC tokens, crosschain holdings to name a few), please refer to our detailed guide for specific positions of OM.

The Path Forward

This redenomination marks a strategic milestone for MANTRA as the premier RWA blockchain. By unifying our ecosystem under the $MANTRA ticker and streamlining our tokenomics, we're building the foundation for institutional adoption and global scale. Your value remains protected while we position ourselves for the next phase of growth.

‍