One particularly intriguing aspect of the OM coin, the native token of the MANTRA ecosystem, is its integration of decentralized identity (DID) through soulbound tokens (SBTs). After completing a one-time Know Your Customer (KYC) verification, users receive an SBT that serves as a persistent digital identity across the MANTRA ecosystem. This innovation streamlines user interactions by eliminating the need for repeated KYC processes when accessing various decentralized applications (dApps) within the platform . (imperator.co+1The Big Whale+1)
Additionally, OM plays a central role in MANTRA's governance and utility. Holders can stake OM to secure the network and participate in decision-making processes through the MANTRA DAO, influencing protocol updates and ecosystem developments . (Medium+2imperator.co+2The Big Whale+2)
However, it's important to note that OM experienced a significant market event on April 13, 2025, when its price plummeted by over 90% within minutes, dropping from approximately $6.32 to as low as $0.49. This crash was attributed to massive forced liquidations during a period of low liquidity, highlighting the risks associated with leveraged positions in thin markets . (CCN.com+1Crypto News Australia+1)
Despite this setback, MANTRA continues to focus on real-world asset (RWA) tokenization and compliance, aiming to bridge traditional finance with decentralized technologies. The platform's emphasis on regulatory adherence and innovative features like DID integration positions it uniquely within the DeFi landscape .
As of now, the OM token is trading at approximately $0.3938 USD.