MANTRA Chain Votes to Retire ERC20 OM, Moving Toward 8% Inflation Target

MANTRA Chain is moving forward with a significant governance proposal to sunset its ERC20-based OM token, consolidating all liquidity onto its native blockchain. The initiative seeks to streamline token economics, standardize the inflation rate at 8%, establish a hard cap of 2.5 billion OM, and reinforce network security through unified infrastructure.

Migration Progress and Technical Details

The migration campaign has gained substantial momentum since MANTRA Chain's mainnet went live. To date, approximately 250 million OM tokens—representing roughly 28% of total supply—have successfully transitioned to the native network. Current network data shows total supply stands at 1,734,542,728 OM with 1,151,122,969 in active circulation.

This consolidation strategy aims to eliminate fragmentation across multiple blockchain networks, enabling more efficient liquidity management and reducing operational complexity. The unification also allows for clearer implementation of the protocol's monetary policy.

What Happens to Unmigrated Tokens

The proposal carries significant implications for token holders. If approved by the community, the ERC20 version of OM will be officially discontinued on January 15, 2026. Any ERC20 OM remaining unmigrated after this deadline will be classified as forfeited, effectively removing them from circulation.

This creates urgency for holders maintaining positions on Ethereum or other EVM-compatible chains to bridge their assets before the cutoff date.

Voting Timeline and Next Steps

The governance vote commenced at 19:50 Beijing time on August 20, 2025, with voting closing at 19:50 on August 22. This 48-hour window allows the community to weigh in on the proposal's merits and potential impact on the ecosystem's long-term trajectory.