Today’s cryptocurrency market news involves the breakout platform MANTRA, with groundbreaking upgrades to its mainnet that promise a new age of connectivity between Ethereum Virtual Machine (EVM) and CosmWasm support. This innovative approach hopes to create a cross-platform for institutional tokenization and further development of cross-ecosystem dApps.
Revolutionary Mainnet Upgrade
In a recent announcement, MANTRA has launched a significant upgrade to its Layer 1 blockchain. For the uninitiated, Layer 1 refers to the fundamental layer of a blockchain architecture that tracks and maintains all transactions and balances. This upgrade at MANTRA introduces native capability for both EVM and CosmWasm contracts — a change that impacts the real-world asset (RWA) application space in a big way.
Pushing Boundaries with MultiVM Setup
MANTRA’s newly unveiled MultiVM setup is designed specifically for RWAs. This forward-thinking configuration allows developers to deploy Solidity-based decentralized apps without modifying the code. It enables the existing Ethereum DeFi protocols to adapt for tokenization and encourages continued use of Cosmos-native smart contracts on the same network.
Integrated Ecosystems
In the current digital environment, it’s a challenge developing across multiple ecosystems. EVM is the leading choice for institutional adoption, while the Cosmos SDK-based chains thrive on CosmWasm as their backbone. MANTRA’s decision to incorporate both into their framework aims to lower construct barriers and create a broader base of developers. Simultaneously, MANTRA intends to offer an infrastructure specially customized for tokenization use cases.
Simplified Compliance
In this new architecture, compliance is managed at the protocol level, thus eliminating the need for separate contracts. This, coupled with its VASP license from Dubai’s VARA, offers corporations a concrete framework for tokenizing assets on the network.
This strategic move by MANTRA appears to coincide with industry developments. The tokenization of RWAs, which include private equity, real estate, bonds, and commodities, is currently one of the hottest topics of financial discourse. Major financial corporations such as JPMorgan and BlackRock have launched pilot projects in this regard, while infrastructure providers compete for developer attention.
MANTRA’s Strategic Expansion
Amid these exciting technical advances, MANTRA continues to grow its governance. They are onboarding new validators that include big-names like Binance and Nansen. The platform is also making preparations for its upcoming Agentic summit in Abu Dhabi. The event will bring together developers, policymakers, and asset managers for a comprehensive discussion on the future of decentralized finance and cryptocurrency.
The Revolution Continues
With the MultiVM now operational, MANTRA plans to roll out further updates soon. These updates look to introduce permissioned liquidity pools and new compliance modules, specifically targeting institutional users. These exciting developments indicate MANTRA’s commitment to staying competitive in the rapidly evolving world of digital finance.
This news emphasizes MANTRA’s dedication to pushing boundaries in the digital finance space. By integrating Ethereum Virtual Machine and CosmWasm support, the platform is setting a new standard for institutional tokenization and broadening their reach to developers across the ecosystem.
