One of the core components of the OMniverse is its own blockchain - the MANTRA Chain, one that is built on top of the Cosmos SDK and is said to have been designed to service regulatory-compliant digital, RWAs and tokenized assets. With the governments trying to regulate crypto, MANTRA is thinking ahead, hence it's building blockchain purposely to cater to investors who give value to regulatory compliance.
The MANTRA Chain as described on their documentation, is a chain of regulated digital assets. It is a protocol that supports various regulated activities and processes, re:
- On-chain identification
- Permissioned access to products
- Connectivity to the fiat/banking world through on/off ramps.
It allows for the permissionless ability to build Web3 applications on a high performance, scalable blockchain architecture, but with the toolkit to build regulated, compliant and permissioned applications.¹
Accordingly, MANTRA Chain is being built with "regulatory-compliant modules so that it can capitalize on licenses from regulatory authorities, such as SOMA.Finance (regulated broker-dealer specifically licensed for the issuance of digital securities), as well as the licenses MANTRA Finance is aiming to pursue in the UAE, Latin America and other jurisdictions across the globe."²
Key Features of MANTRA Chain
✅ Regulatory-compliant environment
The chain will make it easy for developers or Web 3 builders to create regulatory-compliant products.
✅ Web3 yield engine
Web3 builders can build their products on the chain and gain full benefit of integration with its sustainable yield engine which will in turn attract and reward more participants.
✅ Interoperable via Cosmos IBC
Building on MANTRA Chain provides interoperability, IBC compatible tokens, fast cross-chain transactions and other attractive features.³. The chain will permit tokens to be transferred from one zone to another securely through Cosmos Hub without the need for an exchange or a trusted third party between zones.⁴
Other notable features include, re:
- Multi-chain decentralized application ecosystem
- Vertically-integrated Blockchain ecosystem
MANTRA Chain Products
👉 Mantra Compliance
This is a set of tools and services offered by MANTRA to help Web3 platforms comply with various regulatory requirements related to cryptocurrency transactions and other financial activities. Here's the flow of the Decentralized Identification (DID) system.
Includes KYC, KYB (Know-Your-Business) and KYT (Know-Your-Transactions) protocols, wallet address verification, AML or sanctions screening, risk assessment and reporting. Verified users are issued with a Soulbound NFT/ID which can be used for various purposes within the ecosystem.
👉 MANTRA Token Service (MTS)
A powerful SDK that will allow decentralized entities to create, issue and distribute their native tokens.
(src)
Entities can create, issue and manage fungible and non-fungible assets. They can use the Permissions Layer which provides a simple role based access control mechanism, including the ability to freeze, seize, destroy and transfer tokens. Other features of MTS include configurable yield & royalties plus predictable and low fees.
👉 MANTRA Assets
Real-word asset tokenization service, a decentralized application that leverages MTS and allow businesses to issue security tokens that represent real-world assets.
With MANTRA Assets, entities can define the characteristics of their tokens, including name, symbol, the number of tokens to be issued, and amounts of yield or royalties. It also offers a variety of tools to help entities manage their security tokens, including the ability to track the ownership of tokens, grant or revoke permissions and transfer them to others. It can automate certain processes such as the distribution of dividends to token holders.⁵
👉 MANTRA DEX
This is MANTRA's own native decentralized exchange which is one of the main cores of the OMniverse.
Source: MANTRA Chain Litepaper
MANTRA Chain Use Cases
👉 Tokenization of real-world assets (RWA)
The chain will provide a channel for the creation and issuance of RWAs through security token offerings (STOs) which can then be traded on a KYC/AML-guarded secondary markets such as MANTRA DEX.⁶
👉 Identity System
MANTRA Chain will facilitate an easy-onboarding process (KYC or KYB)
👉 On and off-ramping
MANTRA Chain is said to be partnering with several on and off-ramp solution providers. This is to provide retail and institutional users access to on-ramp and off-ramp services for fiat, equities, tokenized securities and digital assets.
Users can join in discussions and debates about the Chain’s operations, as well as propose changes and vote on them.
👉 IBC compatibility
Allow seamless transfer of assets between zones through IBC coin packets.
Source: MANTRA Use cases
AUM
This is the token for the MANTRA Chain ecosystem. Details of which are yet to be unveiled. Will be sharing about it when they become available.
Summary (TL;DR)
💥 MANTRA Chain is being built as a permissionless blockchain that will provide a friendly and secure environment for Web 3 developers to build decentralized applications that are compliant to crypto and financial regulations.
💥 It will facilitate the creation, issuance and trading of real-world assets (RWAs) and other digital assets that are all regulatory-compliant.
💥 The chain will also provide KYC, KYB, KYT services for easy onboarding.
💥 It aims to provide its users an easy access to on-ramp and off-ramp channels fiat, equities, tokenized securities and digital assets and provide markets for them through its own DEX.
💥 MANTRA Chain will have its own token called AUM (tokenomics yet to be unveiled).
Info Sources: MANTRA Medium / Litepaper
For infotainment only.
Lead image edited on Canva. Photo from MANTRA. No copyright infringement intended. 17072023/09:45ph