When MANTRA Chain was first conceived as a dedicated Layer-1 blockchain for RWAs and tokenized assets, the intention was for this chain to be governed by a token distinct from the ERC-20 OM. This was due to the fact that ERC-20 OM is a fixed supply token minted in 2020.

As the development of MANTRA Chain continued and its first phase of testnet launched in November 2023, a different coin, AUM, was initially used as the native token on this testnet.

However, in January 2024, the Sherpa community submitted and voted on a governance proposal that altered this approach of two distinct, yet complementary tokens underpinning the MANTRA ecosystem. It was proposed that rather than taking the “two tokens, one ecosystem” approach - a single token - OM be used as the native asset on MANTRA Chain. When put to a vote, the Sherpas supported the proposal to evolve OM and its functionality from an ERC-20 token to the native staking and gas coin for MANTRA Chain.

In February 2024, the official communications proposal to adopt OM as the native L1 staking coin for MANTRA Chain passed with near-unanimous support. This represented an inflection point in the evolution of OM. It aligned MANTRA Chain’s future with the vision of our Sherpa community for a unified OM.

While this unified our community under a single token, it posed technical challenges in bridging an ERC-20 token to serve as the primary staking coin of MANTRA Chain. In the document below, we outline how we addressed these challenges of bridging an existing token to become the native token of its own chain, ensuring the network and economic security of our chain while minimizing the impact of this transition on existing OM holders.

Giving OM a New Home - MANTRA Chain

In the following sections, we will dive into the details of MANTRA Chain mainnet tokens, examine their corresponding mainnet wallet addresses, and outline the comprehensive vesting schedule that governs token distribution while also outlining onchain staking and inflationary economics.

MANTRA Chain is secured by a sovereign validator set that is incentivized by onchain inflation. Currently, the network maintains a 3% inflation rate with a staking ratio of 31.4%, providing participants with a staking APR of 5.73%. This economic structure ensures ongoing network security while rewarding long-term token holders.

The table below presents the Genesis Supply of OM at MANTRA Chain's launch in October 2024. Further details about each allocation bucket will be provided throughout this document.

To comprehensively address the technical challenges, we determined that it would be necessary to deprecate the existing ERC-20 OM, and then establish MANTRA Chain (mainnet) OM as the canonical version moving forward. This bridging process involved burning OM on the Ethereum side and releasing OM from the locked Mirror Bucket on MANTRA Chain.

Prior to diving into the details, we need to examine how we bridged our original 888,888,888 OM token supply to MANTRA Chain mainnet. We accomplished this while recognizing that the long-term economics of a Layer 1 blockchain securing a multi-trillion dollar asset class fundamentally differs from a fixed supply token model. This understanding led us to transition OM to an inflationary token structure that economically rewards our native validator set.

The mirror bucket functions by mirroring the ERC-20 OM (Ethereum) supply on MANTRA Chain. As OM is burned on Ethereum, an equivalent amount is released from the mirror bucket, ensuring there is never any discrepancy in circulating supply. In the text below, we will explain how this mirror mechanism works mathematically, share the relevant wallet addresses, and detail the security measures we've implemented for the mirror setup.

MANTRA Chain Mirror Bucket

Why Did We Need to Mirror the Ethereum OM Supply on MANTRA Mainnet?

Following the community proposal to use a single token for MANTRA, the mirror mechanism was established to;

Launch an RWA-focused L1 blockchain without disrupting existing OM holders

Enable OM to secure a proof-of-stake blockchain without compromising MANTRA Chain security

Ensure that OM maintains equal value regardless of which chain it exists on

What is the MANTRA Mainnet Mirror Bucket?

The Mirror Bucket serves as a specialized token reserve that;

Enables a seamless one-way bridge between Ethereum and MANTRA Chain

Maintains accurate representation of circulating supply throughout the cross-chain bridging process

Preserves the economic integrity of the OM token during the blockchain transition

How Does the Mirror Bucket Work?

The one-way bridge mechanism follows these steps;

1. Users send their ERC-20 OM tokens to the designated burn address on Ethereum (0x000000000000000000000000000000000000dEaD)

2. These tokens are permanently removed from Ethereum as well as from the circulating supply

3. MANTRA Chain recognizes these burns and authorizes the release of equivalent tokens from the Mirror Bucket

4. The newly released tokens are distributed to user wallets on MANTRA Chain

Illustrative Example of Bridging OM

For this example, 1 OM is bridged from Ethereum to MANTRA Chain.

Before 1 OM is burned;

Supply of OM on Ethereum (in circulation since 18 August 2020) - 888,888,888

Supply of OM on MANTRA Chain - 888,888,888

Total Supply of OM - 1,777,777,776

After 1 OM is burned;

Supply of OM on Ethereum (in circulation since 18 August 2020) - 888,888,887

Supply of OM on MANTRA Chain - 888,888,889

Total Supply of OM - 1,777,777,776

*Please note the example above is for illustrative purposes only, for current onchain information continue reading below.

Current Status of OM on MANTRA Chain

1. Mirror Bucket (Ethereum Supply Mirrored on MANTRA Chain) - 888,888,888 OM

The mirror bucket functions as a one-way bridge from Ethereum, enabling the transition from ERC-20 to native MANTRA Chain token. The mirror bucket mirrors the Ethereum supply of OM, for as OM is burned via the native MANTRA bridge, the equivalent OM is released from this bucket.

OM on Ethereum (ERC-20)

‍Address links: OM on Ethereum (ERC-20), Total OM on Ethereum, Bridged to MANTRA Chain, Bridged to Polygon, Bridged to Base, Bridged to BSC.

*Please note, bridging to MANTRA Chain from Ethereum burns your ERC OM and releases Mainnet OM to your linked MANTRA wallet address

Vesting Status - Addresses listed below will completely vest in May 2025

Address links: ERC-20 OM Ecosystem Rewards, ERC-20 OM Reserves, ERC-20 OM Referrals.

Mainnet Mirror Bucket

The Ethereum Mirrored Supply is stored across three dedicated addresses. These addresses hold un-burned ERC-20 OM tokens that are not included in OM's circulating supply. When tokens are released from these bridge addresses, they enter the circulating supply as a direct result of an equal amount of OM being burned on Ethereum.

This mirroring mechanism ensures that the total circulating supply remains constant, with tokens effectively transferring from the Ethereum ecosystem to MANTRA Chain through the burning and release process.

1. Primary Mirror Bucket: Created at MANTRA Chain Genesis to serve as the main token reserve.

2. Bridge Operations Address: Handles transactions exceeding 30,000 OM. This address provides additional operational oversight and transaction verification before tokens are released.

3. Automated Bridge Address: Facilitates the automated bridge function for smaller transactions. Users bridging less than 30,000 OM will have their tokens processed automatically through this address once verification is complete.

Address links: Mirror Bucket, Bridge Ops, Automated Bridge for <30K OM.

[OM in Mainnet Mirror Bucket = Total Supply of OM on Ethereum - OM Bridged to MANTRA]

2. OM Upgrade - 311,111,111 OM (17.5%)

The OM Upgrade is designed specifically to reward our long-term Sherpas. These dedicated individuals have consistently staked their OM tokens during the building phase of MANTRA Chain on MANTRA Finance and Sherpastake, demonstrating their commitment to our growth and development.

The tokens are yet to be unlocked as stated in the governance proposal here. When vesting begins, it will be a linear vest from a claim contract with the vesting ending on 16 October 2028.

Address link: OM Upgrade.

3. Gendrop - 48,012,445 OM (2.81%)

The GenDrop is designated to reward all those who have supported us during the critical testing phases of our testnet and mainnet. These individuals have proven themselves to be dedicated supporters throughout the building phase of MANTRA Chain. This allocation specifically acknowledges their engagement and contributions.

The initial 10% of the Gendrop Bucket or 0.281% or 5,000,000 OM was made claimable on 26 March 2025, with the remaining allocation becoming available to claim on 18 September 2025.

As a result of the Sybil Slaying Season, of the 5,000,000 OM that unlocked, 1,987,555 OM were added to the GenDrop claim campaign with the balance of 3,012,445 OM going towards community and ecosystem development initiatives. More on the governance proposal can be read here.

Address link: Gendrop.

4. Team and Core Contributor - 300,000,000 OM (16.88%)

The team and core contributor allocation ensures long-term alignment of our builders while enabling recruitment of specialized technical talent necessary for blockchain operations and ecosystem development on MANTRA Chain.

To align builders with MANTRA’s long-term vision, team tokens have a cliff period until 23 April 2027, with vesting concluding on 22 October 2029.

The initial allocation of 300 million OM was staked from the team and core contributor bucket to ensure MANTRA Chain's economic security. The increased token value visible in this allocation is attributed to staking rewards. None of these staking rewards will be distributed to team members; instead, they will be dedicated entirely to ecosystem development and community building initiatives.

Address link: Team & Core Contributor

5. Pre-Seed - 100,000,000 OM (5.63%)

The Pre-Seed allocation recognizes our earliest investors who believed in the RWA L1 vision before it became the mainstream reality it is today. This allocation ensures continued support from these foundational economic backers whose early conviction made our journey possible.

These OM remain locked until 23 October, 2025, followed by a vesting schedule concluding 23 October, 2027.

Similar to the Team and Core Contributor OM, the Pre-Seed allocations for our investors have also been staked. To maintain alignment with the original investment terms, these staking rewards follow the same vesting schedule and will only be distributed to investors as they become unlocked.

Address link: Pre-seed 1, Pre-seed 2.

6. Seed - 90,000,000 OM (5.06%)

Seed investors provided strategic capital to accelerate MANTRA Chain's ecosystem development, enabling faster infrastructure deployment and market expansion.

Seed investor tokens remain locked until 23 April, 2025, followed by a vesting period ending 23 April, 2026.

Similar to the Team and Core Contributor and Pre-Seed OM, the Seed allocations for our investors have also been staked. To maintain alignment with the original investment terms, these staking rewards follow the same vesting schedule and will only be distributed to investors as they become unlocked.

Address link: Seed 1, Seed 2, Seed 3, Seed 4.

7. Ecosystem - 37,777,777 OM (2.12%)

The Ecosystem allocation supports day-to-day operations of MANTRA Chain Association, including exchange listings, liquidity provisions, integrations, and incentivizing ecosystem builders.

It was assigned to the MANTRA Chain Association at mainnet Genesis to support daily operations, provide liquidity, facilitate integrations, and incentivize ecosystem builders to grow the community.

These tokens were fully liquid upon Genesis to enable immediate operational functionality.

Address link: Ecosystem.

Key Addresses for ERC-20 OM (i.e. Ethereum, BSC, Polygon, Base)

ERC- 20 OM Contract Address

Ethereum Burn Address - OM

ERC-20 OM Ecosystem Rewards

ERC-20 OM Reserves

ERC-20 OM Referrals

ERC-20 OM on Polygon

ERC-20 OM on Base

ERC-20 OM on BSC

Key Addresses for OM on MANTRA Chain

Mirror Bucket

Bridge Ops

Automated Bridge for <30k OM

OM Upgrade Address

Gendrop Address

Team and Core Contributor

Pre-Seed 1

Pre-Seed 2

Seed 1

Seed 2

Seed 3

Seed 4

Ecosystem