MANTRA (OM): HUGE Potential to EXPLODE in RWA

So hey guys welcome back to a very special episode of Box Mining. On location we're at the Mantra office with JP. Welcome JP. Thank you so much man good to be here thanks for coming to visit us. Are we gonna meditate first to Mantra first before... Before we start our meditation with Mantra this video is really about real world asset tokenization. Recently Blockbark announced a 10 trillion dollar tokenization vision. This is to put anything from bonds, equity, real estate or cultural assets directly on the blockchain as digital assets. What's interesting is that Mantra is building exactly this. An infrastructure for compliant RWA integration and we have the luxury of checking out their office and their operations in here in Hong Kong. I have the privilege of interviewing John Patrick Mullin and tap his brain on what's happening with RWA. Let's just talk a little bit about your big vision. What are you trying to do? What's the objective here? Sure so when we started Mantra a while back you're familiar with the project since we launched back in the Mantra DAO days. The project has evolved a lot. We're currently building a layer one blockchain for RWAs. Effectively the idea behind this is that we want to make it very easy for users to interact via their crypto wallets with all different types of products wherever they're at in the world. Okay and this is like RWAs right because it suddenly became super hot after recently BlackRock went into it and then like it's popping up everywhere. It's good right now. Yeah so kind of what is the big vision here? What is the end goal? Is it just put anything on the blockchain? Real estate, watches, cars? What's the aim here? Yeah so I mean maybe let me like paint a little bit of picture about why we're kind of doing what we're doing. Yeah yeah yeah yeah. Like from my perspective as an American like I have access to a lot of stuff like I can get tokenized sorry I can get equities I can get treasuries I can get whatever product that I want in the world pretty much. Right right right but as a person who's been in crypto for a long time a lot of my net worth and wealth is in crypto and for me to be able to get access to that you know would require me to basically go from my you know wallet to my crypto exchange to a bank account to a brokerage account that's like multiple hops multiple like multiple fees multiple avenues for tax right and that's coming from someone who's from the developed world and you know one of the most developed economies in the world right so imagine if you can't get access to 90% of what I just said and all you have access to is a you know a phone right yeah a crypto wallet whatever we want to be able to safely be able to have an on-chain experience where you can one click get exposure to all those different products crypto assets you know treasuries U.S. U.S. and other securities not just U.S. real estate all different things safely easily in a self-custody way right that's the idea and that's a very very big vision absolutely it's like completely changing how people even get access to all everything all right yeah so so you're trying now so now some the new mantra vision is to really um complete this to get everyone on board you're building your own blockchain so you're doing your own layer one absolutely so what what's what's the need for that great question so you know just to kind of like verbalize the actual vision we call it or we say basically to bring the financial ecosystem on chain we believe in self-custody uh we believe in not having other FTX scenarios right right right right right to happen um but with that comes issues when dealing with wallets and keys and you know addresses and whatnot so we're trying to abstract away a lot of that complexity to make it easy for everyone to be able to use right right um you know when it comes to uh like how we're managing um some of the different products we um we have the app and we have the chain right so the app is where you can actually interact as our end user the chain is the underlying infrastructure supports us that's why we're building our own chain right natively within within the cosmos so we're living on the cosmos SDK with that idea of an app chain thesis being like one of the core beliefs of what we do um we've basically built and we we tried to build this on other blockchains we tried to build it on ethereum and it you know it doesn't work with the fees and you know on chain is not really it's not ethereum is good for other stuff it's not good for on-chain you know finance too expensive um ethereum l2s or other l2s are challenging for normies or no no you know people who don't use crypto to deal with bridging and dealing with all these other things so we really felt like having a sovereign chain that supports our use case which is you know generally regulated financial uh you know products on chain um really was necessary and being able to also maintain that sovereignty over our validator set to be able to evolve with ever evolving global crypto regulations that that's really the purpose but it also needs to be you know highly scalable cheap to use um you know easy to access um and at the same time uh you know still having a lot of accessibility into the crypto native part of the population which is currently the target market right like today's market is crypto natives right tomorrow's market is everyone and you need to chant arms there right bad joke all right but uh so so it's your own layer you're gonna have your own transactions you're gonna take on as as payment so it's not technically incorrect yeah so how what's the status of that right now so um we basically went through a dow vote in the beginning of this year where effectively the community merged the two ideas that we had which was you know the mantra you know platform which was running on the ethereum version of ohm um and then we were actually creating a new uh chain token um which was going to be called aum another form of ohm okay yeah that's we're going to be using aum uh in the future okay that's down the road that's some alpha okay it'll be coming you'll see in the not too distant future um but basically they wanted to and they voted basically unanimously to merge the two into one right so effectively instead of having two unique set of tokenomics we merged them into one okay standalone tokenomics to to basically make sure that all the value accrual for the mantra ecosystem goes back to ohm it goes back to ohm token holders and supporters om om okay okay and and you know frankly from a just logistical and operational perspective it makes a lot of sense ohm is listed on most major crypto exchanges including binance and others so like being able to basically go from a ethereum dap token to a you know rwl1 token with you know already listed on binance like done done done so so you have two concepts right so there's the original idea and then the new idea of you know rwa real world assets you're combining merging those into ones you're making an even bigger kind of like like pie to eat absolutely right uh you're making it bigger you're making it grander and of course combining everything uh into your own ecosystem yep right exactly right so right now when people take part in that uh so they're do they get the so so right now people are part of ohm are they going to be affected by this token transition or anything yeah so um when we went through the first proposal which was effectively to actually enact that change okay it was again pretty much unanimously voted okay it was like the highest turnout we'd ever had to that point okay um and they were all like great you know why should we have two tokens we can have one token which is the one i have today okay then basically what we said was okay here's going to be the proposal from from the council of how the new tokenomics would work and effectively what it did was we took the existing token supply which is 888 million we doubled it because actually ohm is basically 90 plus percent in circulation okay that will not work to support the economics of a layer one proof of stake chain right we we need tokens basically right so we basically will be issuing 808 million to double that supply on mainnet side right cosmos side right those will be long-term vested you know right contributor buckets uh you know foundation treasury uh community rewards actually the people who are staking home today will get a 1.35 x multiplier if they stake in their entirety so like oh okay so internet actually goes into 1.2 billion so you are trying to get everyone to stake now so that you get the call to action right now move over and you get a big move over a stake a big bonus and get a big bonus and get a big bonus if you're a long-term community member that's what you want to do right exactly right move over and stake you get a big bonus in home not financial advice as always but that's one thing you can do um and then basically we'll also have you know we have some leftover for potentially future fundraising events and and another different thing or my favorite friend they're airdrops also so we have a community pool bucket uh-huh that will also be going for airdrops we've announced so far we're doing airdrops for bad kids and big kids which are part of the cosmos ecosystem adam stakers mantra community members will be getting some as well for for a certain thing alpha drop right there this one thing um lots of airdrop videos coming for this also pudgy penguins actually was just announced today so it's up to pudgy holders we're trying to really create like a curated list of communities that we really believe that will be beneficial for our our ecosystem would you get a meditating penguin we should actually no literally we should um and uh we have a few other ones from the cosmos ecosystem some of the big names we haven't announced them yet but you can imagine some of them will also be you know some of their staked token holders uh will be um participants of this airdrop as well um we also are about to be announcing and launching our next phase of our testnet which will be coming in april i won't say exactly when but coming in april um and that will be an incentivized testnet okay so let the community uh rewards for people to be able to go create wallets you know make a decentralized id um transact on the chain swap you know play around so a lot basically just a bunch of things to do a lot of stuff all right got it so guys stay tuned for that we'll get a video coverage on that so i'll have a quick summary so basically you start off uh quite a few different visions uh once on one on ethereum then now with rwa combine those two visions that's where we are at right now basically having a massive chain that enables real world assets to be traded added on and an app to go with that basically to allow this to facilitate that 100 so now the question obviously is what's the future okay let's say five years 10 years down the future what do you envision what's what's the kind of the big goal here um no so when i think about it i actually just believe i haven't even thought five years down the line right like you know it's so far just like right right in front of me but um you know i i firmly believe that in the next 24 months we will have an application in a chain supporting it that allows for one click you know movement of assets from your bank account to your crypto wallet to your brokerage account to your real estate portfolio to whatever you know to whatever other you know alternative assets you want to be invested in or even you know traditional assets all from our one unified uh experience right you won't even necessarily know that you're transacting on our chain it might be completely gasless you you know like that the whole point is you don't know that it's even there right and i really do believe that that's going to happen in the next 24 months okay um a lot of buildings do to get there um but it's it's literally coming and um anyone in the world getting assets not anyone i will say not anyone okay not anyone in the next 24 months but maybe in the next five ten years is purely based off regulation and it is predicated on the fact that we will be able to only offer products in certain places as regulation allows right so you know at the we're a believer that you know regulation occurs at the application layer not at the protocol layer okay that's another part of the strategy of a two you know app and protocol uh you know uh go to market um and frankly one of the things that's so important about our strategy is the is the licensing i say this all the time you cannot fork a license and i'll tell you it's been taking us years of effort and work and research and communicating with regulators that's your sequel weapon is the licensing it is an important part because like you know this is licensing exists in the more centralized you know realm yeah um it has not yet existed in the decentralized realm right the on-chain realm yet right so what licenses have you got and what you know kind of um so with our with our like other sister projects summa finance uh which is a effectively u.s permissioned uh tokenized equity decks um that is under a u.s broker dealer so we work with our partner traitorian capital okay united states for that one um which is which is great um that's for us and for anyone to be able to use it but it's under u.s securities rules okay that's like the hardest okay right right but again that's under u.s securities rule so it's suggested you actually got the hardest done we got the hardest done exactly that's that's that's that's that's what you all you know right the hardest is done all right the hardest is done um but then the one from the that's more on the soma side on the mantra side um we've been looking at dubai um uae particularly we've actually explored many jurisdictions and we'll expand into other jurisdictions already but dubai will be the home um our biggest investors are from the uae from dubai how big of a market do you think this will be let's say in 24 months what how big how many how many billions or trillions of dollars do you think this will be um well sizing wise i mean honestly it could go pretty insane like just from the asset origination perspective that we're looking at like in the pipeline now you know uh multiple billions okay yeah um and that's like we don't even have the product out like really that's so so like it's funny because every time i go to dubai now and i go there all the time every conversation is like great let's do it like this is exciting or maybe 18 months ago it wouldn't have been like that but because one the regulatory framework that's been you know built there as well as the fact that you know now this is becoming a thing with banks and blackrock and other trend internal financial institutions getting involved in the space making it legitimate and talking about tokenization like heads are there the mind share is there and honestly in the uae at least the central government and you know the powers that be have said this is a thing people need to focus on and when you say that they do it yeah so like every conversation is like oh great can i tokenize 200 million dollars of my real estate portfolio oh great can i done that right right right that's amazing that's even on the small side yeah i think and that's fast that's so basically many um it could be many small parties or many medium-sized companies tokenizing a part of the portfolio to start and then it can scroll from there on i think it's going to scale pretty quickly i mean we're like we're talking to big big big big guys like nice banks huge real estate developers like the biggest you can you know nice nice nice so pretty nuts i definitely see a huge potential for this so yeah i definitely want to see you in dubai so i'm gonna go catch you token token so i'll see you there 100 man what's uh dubai well uh you know large uh guys are like and then i think we'll talk about that so we talked a little bit about the system what we're doing now in the future and i think we'll leave it at that for today's interview 100 and then i feel like this is really and really exciting time because like the the timing of this is perfect this this crypto bull run and matching that with this what's happening with real world assets dude it's it's gonna be insane and your position perfectly thank you sir was the tech ready and we're gonna do lots of tests on the incentivized testnet please do do that and then we're ready to go amazing man i appreciate it cheers let's arm together sir let's go