Bybit has announced its support for the MANTRA (OM) v6.0.0 network upgrade, marking an evolution in MANTRA's strategy. This upgrade aims to enhance real-world asset tokenization capabilities and deepen Ethereum Virtual Machine (EVM) compatibility.
John Patrick Mullin, Co-Founder and CEO of MANTRA, has been pivotal in steering this advancement. "Most notably, we've made MANTRA Chain's testnet fully EVM-compatible, signaling a game-changing moment for our ecosystem." Significant institutional partners like Inveniam have collaborated to allocate funding for supporting on-chain expansion and stability strategies.
MANTRA Chain Sees $45M Funding Post Upgrade
The upgrade has resulted in increased TVL (Total Value Locked) and improved staking participation on the MANTRA chain. Significant financial activities, including $45 million funding, have been earmarked for further development following successful liquidity recovery.
MANTRA's compliance with regulatory standards for tokenized finance in the UAE has gathered institutional backing. As Ethereum and BNB chains end OM support, users are urged to migrate assets to the native chain, indicating a significant procedural adjustment.
April 2025 Crisis Lessons Shape Current MANTRA Strategy
Previous network challenges, such as the April 2025 liquidity crisis, offer a backdrop for current efforts. Like MakerDAO's stabilization strategies, MANTRA's focus includes EVM compatibility and reducing earlier fragmentation issues.
Experts emphasize MANTRA's strategic vision in promoting regulated DeFi initiatives. Insights suggest that these institutional partnerships and technical enhancements pave the way for long-term growth, with renewed community trust and participation metrics.