MANTRA DAO’s native token, $OM, is making waves as the top daily gainer on leading cryptocurrency exchange Binance, sparking widespread discussion with the hashtag #OMonBinance trending across social media platforms.

In recent months, $OM has experienced significant bullish momentum, showcasing remarkable gains across various timeframes. The token has witnessed a staggering 248% surge in its 24-hour trading volume, accompanied by a 24% increase today, a 44% surge over the week, a 136% rise over the month, and an impressive 580% uptrend in the past 90 days.

The surge in $OM’s value comes on the heels of a DAO proposal aimed at enhancing staking rewards on MANTRA Finance, the decentralized finance (DeFi) ecosystem powered by MANTRA DAO. The proposal received overwhelming support, with 99.6% of voters in favor, leading to a substantial increase in staked $OM tokens. 

Over 87 Million $OM Tokens Staked on MANTRA Finance, an impressive 11% of the circulating supply!

Start staking now: https://t.co/9zzoauJxWp 

Stake your $OM to get:

20% more Staking Rewards following a recently passed governance proposal

4% supply of $SOMA tokens will… pic.twitter.com/gkCeqzGNLB

— MANTRA Finance (@MANTRAFinance_) February 2, 2024

Over 87 Million $OM Tokens Staked

Presently, over 87 million $OM tokens have been staked on MANTRA Finance, constituting approximately 11% of the circulating supply. Investors stand to benefit from a 20% boost in staking rewards following the successful implementation of the governance proposal.

Building on this momentum, a new proposal has been introduced with the potential to elevate $OM’s utility even further. If approved, $OM will become the primary L1 token of MANTRA_Chain, positioning it as a central component of the MANTRA ecosystem and expanding its use cases within the platform.

The surge in $OM’s value and the enthusiastic response to governance proposals underscore the growing interest and confidence in MANTRA DAO’s decentralized finance ecosystem. As investors eagerly await the outcome of the latest proposal, $OM continues to capture the attention of the cryptocurrency community, signaling an exciting phase of growth and development for MANTRA DAO and its native token.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Filed under: Bitcoin - @ February 3, 2024 11:48 pm