OM
Reputation Ratings
MANTRA DAO
Website https://www.mantradao.com/
Browser
OTH RELPs
White Paper
Avg Price
+1.44%
1D

$ 0.6978 USD

$ 0.6978 USD

Market Cap

$ 559.641 million USD

$ 559.641m USD

24h trading volume

$ 41.431 million USD

$ 41.431m USD

7d Vol

$ 187.755 million USD

$ 187.755m USD

Circulating supply

793.991 million OM

Related information

Issue Time

2000-01-01

Platform pertained to

--

Current price

$0.6978USD

Market Cap

$559.641mUSD

Volume of Transaction

24h

$41.431mUSD

Circulating supply

793.991mOM

Volume of Transaction

7d

$187.755mUSD

Change

24h

+1.44%

Number of Markets

147

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Introduction

Markets

3H

-2.18%

1D

+1.44%

1W

-3.77%

1M

+17.47%

1Y

+1904.66%

All

+62.68%

Aspect Information
Short Name OM
Full Name Mantra DAO OM Token
Founded Year 2020
Main Founders John Patrick Mullin, Will Corkin, Rodrigo Quan
Support Exchanges Binance, OKEx, BitMax, Poloniex, KuCoin, Uniswap, SushiSwap, 1inch, Balancer, Curve Finance, etc.
Storage Wallet Metamask, Trust Wallet, Ledger Nano S, Trezor, Atomic Wallet, MyEtherWallet, Coinomi, Exodus, imToken, Math Wallet
Customer Support Twitter, Linkedin, Telegram, Instagram, YouTube, Discord, Facebook

Overview of OM

OM, also known as the Mantra DAO OM Token, is a cryptocurrency founded in 2020. It is supported on popular exchanges like Binance, OKEx, BitMax, and Poloniex, and can be stored in wallets such as Metamask, Trust Wallet, and Ledger Nano S. OM operates within the ecosystem of Mantra DAO, a decentralized autonomous organization that aims to create a community-governed and transparent ecosystem for web 3.0, offering financial services like staking and decentralized lending.

To obtain more information, you can visit their website:https://www.mantraomniverse.com/ and try to log in or register to use more services.

OM's homepage

Pros and Cons

Pros Cons
Supported by numerous exchanges Limited track record compared to older cryptocurrencies
Multiple storage options including popular wallets Success contingent on collective decision-making
Part of the Polkadot ecosystem
Community-governed and transparent
Pros:

- Supported by numerous exchanges: The OM token is recognized and supported on a number of well-established cryptocurrency exchanges, making it easier for users to trade.

- Multiple storage options including popular wallets: OM tokens can be stored in a variety of digital wallets, such as Metamask, Trust Wallet, and Ledger. These wallets are widely used and known for their security features, thus offering secure storage options for OM tokens.

- Part of the Polkadot ecosystem: OM tokens operate within the Polkadot ecosystem, a network designed to connect multiple specialized blockchains into one unified network, opening up opportunities for greater interoperability and scalability.

- Community-governed and transparent: The decentralized autonomous organization at the core of the OM token, Mantra DAO, is community-governed, which aims to ensure transparency and collective decision-making, thus giving token holders a say in the projects direction.

Cons:

- Limited track record compared to older cryptocurrencies: Compared to cryptocurrencies like Bitcoin and Ethereum that have been around for longer, OM has a shorter track record. This can make it difficult to predict its future performance.

- Success contingent on collective decision-making: As a community-governed coin, the future success of OM is contingent on collective decision-making, which can sometimes be slow or get stalled due to differences in opinion among community members.

Crypto Wallet

The MANTRA DAO Wallet, also known as the OM Wallet, is the official wallet for storing and managing your MANTRA DAO (OM) tokens. It is available on both desktop and mobile (iOS and Android) and offers a variety of features, including:

  • Secure storage: Your OM tokens are stored securely using industry-standard security practices.

  • Staking: Earn rewards by staking your OM tokens.

  • Governance: Participate in MANTRA DAO's governance process by voting on proposals.

  • Multi-currency support: Store and manage other cryptocurrencies in addition to OM.

  • Built-in exchange: Buy and sell OM tokens directly within the wallet.

Crypto Wallet

What Makes OM Unique?

OM's innovation lies predominantly in its governance model and approach to decentralized finance. As a part of the Mantra DAO, OM distinguishes itself from other cryptocurrencies through a community-governed, transparent platform. This means that key decisions are collective, offering a democratic approach to organizational planning. This emphasis on community engagement and crowd wisdom is unique and poses an alternative model to traditional decision-making structures found in other cryptocurrencies, which might be more centralized or less transparent.

Moreover, OM is built on Parity Substrate for the Polkadot ecosystem. Being part of this network is noteworthy as it interoperates with a variety of other blockchains, aiding in scalability and efficiency. On the contrary, many cryptocurrencies operate independently, which might limit their ability to interact with other blockchain systems.

Furthermore, OM has placed strong emphasis on providing decentralized financial services like staking and lending in its operation. Although DeFi is not exclusive to OM, its focus on these services is a significant part of its operation and forms an integral part of its value proposition. Contrastingly, some other cryptocurrencies might focus more on payments, transactions, storage of value, or other specific functions.

How Does OM Work?

OM operates as a part of the Mantra DAO, a decentralized autonomous organization which gives the token a unique working mode that is community-governed. This means that significant decisions are made collectively by the community members, thereby offering a democratic approach to decision-making. Operating on this model, the principle of OM is rooted in trust and collaboration, with the aim of providing a transparent, community-driven financial platform.

The DAO uses the OM token for governance, which means OM token holders can use their tokens to vote on different proposals about the direction and rules of the platform. This is designed to incentivize user participation and ensure the community has a direct impact on decisions.

Built on the Parity Substrate, OM is part of the wider Polkadot ecosystem. Polkadot is a multi-chain platform, providing interoperability between a variety of different blockchains. This effectively means that OM benefits from the scalability and adaptability offered by the Polkadot ecosystem, which may enable it to facilitate more transactions at quicker speeds, while interacting with other blockchains.

Furthermore, OM is focused on offering decentralized financial (DeFi) services. Two key services are staking and lending. Here, holders of OM, or other supported cryptocurrencies, can stake their tokens on the platform to earn rewards. Alternatively, they can offer their tokens as collateral to secure a loan in another cryptocurrency.

Market & Price

Airdrop of OM
  • Airdrop for Existing OM Holders:

MANTRA DAO has occasionally conducted airdrops for existing OM holders in the past. The most recent one was an OM Airdrop for MANTRA (OM) token holders in January 2024. However, there is currently no announcement of any upcoming airdrop for OM holders.

  • Airdrop to Acquire OM Tokens:

It's important to be cautious about any claims of airdrops promising free OM tokens. There are many scams disguised as airdrops, aiming to steal your personal information or cryptocurrency.

Price

Short-term:

  • Today (February 7, 2024): As of now, OM is trading at around $0.148 with a 24-hour trading volume of $28.52 million.

  • Recent change: Over the past 24 hours, the price has dropped by about 7.26%.

  • Past 30 days: However, looking at the bigger picture, OM has seen a significant increase of 140.85% over the past 30 days.

Long-term:

  • Past 60 days: Over the past 60 days, the price has surged by an impressive 471.07%.

  • Past 90 days: Looking even further back, the price has increased by over 545.81% in the past 90 days.

Exchanges to Buy OM

Binance: Binance is one of the largest and most well-known exchanges, which may offer multiple trading pairs for OM including OM/BTC, OM/ETH, and OM/USDT.

Binance

Steps:

1. Create a free account on the Binance website or the app.

Binance is a centralized exchange where you can buy several crypto assets including MANTRA. Before you can use the Binance platform, you'll need to open an account and verify your identification.

2. Choose how you want to buy the MANTRA asset.

Click on the “Buy Crypto” link on the top of the Binance website navigation to know about the available options to buy MANTRA in your country.

  • A. Credit Card and Debit Card

  • If you are a new user, this is the easiest option to purchase MANTRA. Binance supports both Visa and MasterCard.

  • B. Bank Deposit

  • Transfer fiat currency from your bank account to Binance, and then use the amount to buy MANTRA.

  • C. Third Party Payment

  • There are multiple options for third-party payment channels. Please, visit the Binance FAQ to check which ones are available in your region.

3. Check the payment details and fees.

You have 1 minute to confirm your order at the current price. After 1 minute, your order will be recalculated based on the current market price. You can click Refresh to see the new order amount.

4. Store or use your MANTRA in Binance.

Now that you bought your crypto, you can store it in your personal crypto wallet or simply hold it in your Binance account. You can also trade for other crypto or stake it on Binance Earn for passive income. If you would like to trade your MANTRA to a decentralized exchange you may want to check Trust Wallet which supports millions of assets and blockchains.

See this link for details on how to buy OM:https://www.binance.com/zh-CN/how-to-buy/mantra

KuCoin: KuCoin may also provide a platform for trading OM via different pairs such as OM/BTC and OM/USDT.

KuCoin

Steps:

  • Create Your Free KuCoin Account: Sign up on KuCoin with your email address/mobile phone number and country of residence, and create a strong password to secure your account.

  • Secure Your Account: Ensure stronger protection of your account by setting Google 2FA code, anti-phishing code, and trading password.

  • Verify Your Account: Verify your identity by entering your personal information and uploading a valid Photo ID.

  • Add a Payment Method: Add a credit/debit card or bank account after verifying your KuCoin account.

  • Buy MANTRA DAO (OM): Use a variety of payment options to buy MANTRA DAO on KuCoin.

See this link for details on how to buy OM:https://www.kucoin.com/how-to-buy/mantra-dao

BitMax: BitMax may offer OM token with the pair OM/USDT.

Poloniex: This exchange allows trading OM with pairs including OM/BTC and OM/USDT.

OKEx: It is also a widely recognized exchange that may provide trading pairs such as OM/USDT.

Uniswap: As a decentralized exchange, Uniswap could provide various ERC-20 token pairs with OM since it operates on the Ethereum blockchain.

SushiSwap: Similar to Uniswap, SushiSwap might also provide various ERC-20 token pairs with OM.

1inch: This decentralized exchange may aggregate the best liquidity from different DEXs for OM trading pairs.

Balancer: As an automated portfolio manager and liquidity provider, Balancer may include OM in various liquidity pools, presenting different token pairs.

Curve Finance: As a DeFi exchange platform based on Ethereum, Curve may facilitate swapping between different ERC-20 tokens including OM.

How to Store OM?

OM tokens can be stored in wallets that support the Ethereum blockchain, as it is an ERC-20 token.

1. MetaMask: A popular browser extension wallet that supports Ethereum-based tokens, including OM.

2. Trust Wallet: A mobile wallet with a user-friendly interface and support for a wide range of cryptocurrencies, including OM.

3. Ledger Nano S: A hardware wallet known for its security features and ability to store OM and various other cryptocurrencies offline.

4. Trezor: A reputable hardware wallet that provides secure storage for OM and other digital assets.

5. Atomic Wallet: A multi-currency wallet with built-in exchange features, allowing users to store, manage, and exchange OM and other cryptocurrencies.

6. MyEtherWallet: A web-based wallet that allows users to interact with the Ethereum blockchain and store ERC-20 tokens like OM.

7. Coinomi: A mobile wallet with support for a wide range of digital currencies, including OM, and a strong focus on user privacy and security.

8. Exodus: A desktop and mobile wallet known for its user-friendly interface and support for OM and various other cryptocurrencies.

9. imToken: A mobile wallet with a focus on usability and security, providing support for OM and other Ethereum-based tokens.

10. Math Wallet: A multi-platform wallet with a focus on cross-chain functionality, supporting OM and various other digital assets across different blockchains.

Is It Safe?

OM is well-equipped when it comes to security, particularly with the provision of hardware wallet support, offering a level of security that is ideal for the long-term storage of cryptocurrencies. In the realm of wallets for OM tokens, hardware wallets such as Ledger Nano S are recommended for enhanced security.

Concerning exchanges that facilitate transactions of OM tokens like Binance, OKEx, Upbit, etc. they maintain industry-standard security measures. The security measures include two-factor authentication (2FA), withdrawal whitelist, and encryption technology. Multi-tier and multi-cluster systems architecture are also used to enhance security.

The token address for OM on the Ethereum blockchain is an encrypted public address that is used to send and receive OM tokens. These addresses are generated using cryptographic techniques and are used to verify ownership and control over specific token balances.

How to Earn OM Cryptocurrency?

  • 1. Buying and holding OM: This is the simplest way to potentially earn OM, but it also carries the highest risk. The price of OM fluctuates significantly, so you could see your investment increase or decrease in value.

  • 2. Staking OM: Many platforms offer staking rewards for holding OM tokens and locking them up for a certain period. This generates passive income but can come with lock-in periods and slashing risks.

  • 3. Participating in liquidity pools: You can provide liquidity to decentralized exchanges (DEXs) by depositing both OM and another token into a pool. You earn fees based on the trading volume of the pool, but there's a risk of impermanent loss due to price fluctuations.

  • 4. Participating in MANTRA DAO governance: By holding OM tokens, you can participate in voting on proposals that shape the future of the MANTRA DAO ecosystem. This doesn't directly earn you more OM, but it gives you a voice in the project's development.

  • 5. Airdrops and referral programs: Occasionally, MANTRA DAO or other platforms may offer airdrops of OM tokens for completing specific tasks or referring new users. However, be cautious of scams disguised as airdrops, and never share your private keys.

  • 6. Play-to-earn games: Some games within the MANTRA DAO ecosystem allow you to earn OM tokens by playing and completing objectives. However, these games can be time-consuming and their return on investment is uncertain.

How to Earn OM Cryptocurrency?

Conclusion

OM is distinct in its governance model, as it is a part of the Mantra DAO, where decisions are made collectively by the community of token holders. The OM token is not merely a currency, but an integral part of an ecosystem that aims to provide decentralized financial services like staking and lending. Despite being relatively new in the digital currency domain, OM's integration with the interoperable Polkadot ecosystem places it among the potent contestants in the cryptocurrency arena.

The future development prospects of OM will rely on a variety of factors, including regulatory developments, technological enhancements, and market acceptance. While its adoption and growth could very well result in monetary gain for its holders, this cannot be guaranteed. The inherent risk and volatility associated with all cryptocurrencies means that they should only be viewed as one part of a balanced investment strategy.

FAQs

Q: Which notable exchanges offer OM token trading facilities?

A: OM token can be traded on various well-known exchanges such as Binance, OKEx, BitMax, and Polkadot.

Q: How can I store OM tokens securely?

A: OM tokens can be safely stored in multiple Ethereum-compatible wallets including MetaMask, Trust Wallet, and Ledger.

Q: What differentiates OM from other digital currencies?

A: What sets OM apart is its integration with the Polkadot ecosystem, its democratic decision-making model as part of a community-governed DAO, and its focus on offering decentralized financial services.

Q: Can I make profit or experience appreciation by investing in OM?

A: The performance of OM or any cryptocurrency is subject to market volatility and unpredictability, making it impossible to guarantee profitability or appreciation.

Q: What financial services does the OM ecosystem aim to offer?

A: The OM ecosystem primarily aims to offer financial services related to decentralized lending and staking.

Q: Who may be the suitable investor categories for purchasing OM tokens?

A: Long-term investors, active traders, tech enthusiasts interested in decentralized autonomous organizations, and community-engaged investors may find OM tokens suitable.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

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