Mantra Triggers OM Token Buyback Frenzy as September EVM Network Launch Looms
Mantra just dropped a bombshell that's sending shockwaves through the DeFi space—announcing a major OM token buyback alongside a groundbreaking EVM network launch this September.
Strategic Moves
The protocol isn't just talking—it's putting serious capital behind its native token while simultaneously expanding its technological footprint. This one-two punch strategy shows Mantra means business in an increasingly competitive layer-1 landscape.
Market Mechanics
Token buybacks typically signal strong treasury management and confidence in future valuation—though cynical traders might whisper about artificial price props before network launches. The EVM compatibility opens floodgates to Ethereum's massive developer ecosystem, potentially turbocharging adoption.
September Countdown
All eyes now turn to the September rollout timeline. If executed well, this could position Mantra as a serious infrastructure player. If botched? Well, another 'coming soon' story in crypto's graveyard of overpromises.
OM recovered slightly, though the token is still depressed after April’s crash, down over 78% net for the past year. | Source: Coingecko
However, just four months after the crash, the Mantra team is showing its dedication with multiple upgrades and a future roadmap.
Mantra to sunset ERC-20 OM tokens
Mantra aims to position itself with a new chain, starting the process of swapping and sunsetting the ERC-20 version of OM tokens.
All OM tokens must migrate to Mantra Chain, the new EVM-compatible network, by January 16, 2026. To raise the incentives for validators, OM inflation was raised to 8%, where it will remain for a while before a new vote brings inflation back down.
Mantra Chain itself will launch as an EVM-compatible network, which is expected to launch around mid-September. Following the EVM launch, Mantra will become compatible with the ethereum DeFi ecosystem, finally building a use case. Mantra will also be available for tokenization and native versions of other Ethereum apps.
The goal of Mantra is to grow its ecosystem with real use cases, while offering familiar infrastructure to developers. Currently, the Mantra infrastructure carries under $500K in value locked, with minimal DeFi app activity. The crash of OM meant Mantra skipped the last few months of DeFi growth.
Mantra to launch a yield-bearing stablecoin
Mantra aims to build liquidity with a native stablecoin. Currently, the platform has under $400K in stablecoin liquidity.
The network will introduce a yield-bearing stablecoin to share network earnings with all participants. Currently, Mantra counts 35.6K token holders through Mantra DAO, which has also lost its appeal and liquidity. The DAO treasury shrank to just 14.1K, awaiting the project’s revival.
Mantra’s main goal is to invite RWA tokenization on its network. Currently, Ethereum and Solana remain the leading tokenization platforms for money markets. Mantra will be a niche network, arriving late with a new L1 chain in an even more competitive environment. Despite this, Mantra has positioned its chain as potentially compliant with financial requirements and compatible with the launch of traditional financial products on-chain.
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