MANTRA DAO Announces Partnership with Google Cloud to Use the L1 Network as a Primary Validator for Its Mainnet

MANTRA has announced an official partnership with Google Cloud as the L1 network will use Google as a primary validator for its mainnet.

Layer-1 (L1) blockchain network MANTRA has announced an official partnership with Google Cloud, with the network set to use Google as a primary validator for its mainnet.

This partnership will also see MANTRA integrate with Google’s recently launched Cloud Web3 Portal.

Within the portal, MANTRA will launch a testnet to enable developers to begin working on the L1 ecosystem and receive free OM tokens.

In addition to the partnership with Google Cloud, MANTRA is also working with BCW Group as its implementation partner.

BCW is a leading Web3 infrastructure solution provider for the Google Cloud ecosystem.

The network launched its official mainnet last week, which will enable tokenized real-world assets (RWAs) to be brought on-chain.

Additionally, users will now be able to stake OM tokens and earn staking rewards.

“Working with Google Cloud at the launch of their Web3 services is a testament to MANTRA’s growth and development, and a mark of credibility for the real-world asset industry,” said JP Mullin, CEO of MANTRA, in an X (formerly Twitter) post.

The mainnet launch also sees the OM token shift from Ethereum’s ERC-20 to the MANTRA Chain.

However, despite these developments, the OM token has been underperforming, losing nearly 5% since the mainnet launch.

OM still remains the largest RWA token in the market, with a market cap of $1.2 billion, closely followed by ONDO.

The recent performance of the token is largely attributed to liquidation after OM hit its all-time high on October 14.

Since its launch a year ago, MANTRA’s OM token has risen by over 6500%, quickly becoming the largest RWA asset in the market.

The overall RWA tokenization industry has experienced significant growth this year.

Currently, RWA tokens make up approximately 0.33% of the total crypto market.

The above is the detailed content of MANTRA DAO Announces Partnership with Google Cloud to Use the L1 Network as a Primary Validator for Its Mainnet. For more information, please follow other related articles on the PHP Chinese website!