Redenominating $OM to $MANTRA

Dear Sherpas,

It is with great excitement and pleasure that we would like to shed light on the next phase of MANTRA as a brand as well as OM as its native coin. Not too long ago, (August 22nd, 2025), you approved a proposal to deprecate the legacy ERC20 OM by January 15th, 2026. This proposal marked the beginning of a longer journey of brand harmonization and OM consolidation, whose next steps we would like to outline here today in this governance proposal. We also ask for your continued support and approval.

Note: This proposal includes community feedback gathered from the MANTRA Forum that we recently launched for this purpose. You can follow the discussion here. In time, we will roll out further topics for discussion there.

Proposal Summary:

In preparation for OM coming home to its native chain, we intend to further consolidate our ecosystem around our brand and to streamline our tokenomics in a way that is primed for global expansion. We believe MANTRA is our strongest brand, and we want to double down on this strength. As such, we believe the following proposal lays the best foundation for the first steps after the deprecation of ERC20 OM.

The steps we propose are the following:

1. Change the ticker from $OM to $MANTRA
2. Implement a 1:4 token split, which proportionally redenominates the hard capped max supply from 2.5B to 10B

Reasons for Proposal:

1. Change the ticker from $OM to $MANTRA

With OM on its way home to MANTRA Chain, we're ready for the next phase: complete brand harmonization. By updating our ticker to align with our ecosystem name as $MANTRA, we create instant global recognition where our coin, chain, and entire suite of products speak with one unified voice. This change creates clarity as we grow. By ensuring our ticker matches our brand we further strengthen our identity as we continue to build the future of RWA infrastructure.

This upgrade will mark the final step in our evolution, with a complete product suite ranging from MANTRA Chain to MANTRA Finance, MANTRA Zone, mantraUSD, and now $MANTRA.

2. Complete a 1:4 token split corresponding with the max supply from 2.5B to 10B

In an effort to streamline our tokenomics, we propose to implement a 1:4 token split, which technically adjusts our max supply from 2.5B (as per proposal 17) to 10B while maintaining the same economic value. This allows existing as well as new sherpas, investors, and institutions to more easily understand key metrics such as the FDV and their individual positions. It will also align $MANTRA’s tokenomics with prominent projects such as $SUI, $ONDO, $ARB, $ALGO, $SEI, $XPL - who have set an industry standard with a 10B max supply. Upon approval, this hard cap will be codified at the protocol layer, meaning that it will be final, and will reflect as such on data aggregator platforms such as Coingecko and CMC. Most importantly, by combining this redenomination in max supply with the proposed token split, all important token metrics remain the same and are non-dilutative to any existing OM holders. It is important to note that this 1:4 token split represents ZERO DILUTION of the token supply.

What is a token split? A token split is the direct equivalent of a stock split in traditional equity markets. The total supply of tokens is redenominated by a specific ratio, while the price per token is simultaneously divided by the same ratio.

The key principle is that the total market value (market capitalization) of any holder's stake remains unchanged immediately after the split. Below we have outlined the key metrics and how they would be affected by this proposal.

Token metrics example below:

*Above is an example with $OM information taken on 21st of October 2025

Example of a user holding 1000 $OM:

*Above is an illustrative example with $OM information taken on 21st of October 2025

Preparatory Steps for OM Holders:

The majority of OM holders are not required to take any preparatory steps for the upcoming upgrade. This applies to the following:

• Holders with OM in a personal wallet.
• Users who have staked their OM on MANTRA Chain
• Holders on centralized exchanges (CEXs) that support the MANTRA Chain.

For users in other categories, including liquidity providers and those who have bridged tokens to other IBC chains within Cosmos, we have initiated a dedicated thread on the MANTRA Forum. This will serve as the central hub for all future communications and technical updates related to your specific situation.

Timeline:

We plan to implement this chain upgrade, token split, and ticker change after the ERC20 OM token has been fully deprecated. The final launch date is conditional on the successful completion of further technical review, due diligence, and securing support from our exchange partners.

Conclusion:

Thank you Sherpas for your continued support and belief in what we are building together. We believe that this proposal and its execution marks the final piece of the puzzle for our ecosystem to truly take off and to fulfill our vision of a leading global brand for RWAs onchain. It has been our goal to create this alignment, and we believe that timing it with the deprecation of ERC20 OM is strategically important. For instance, when we began trading on Upbit and Bithumb in Korea, we observed that the Korean community referred to our token as $MANTRA and expressed confusion when linking the $OM token to the MANTRA brand.

Upon this proposal passing, we will prepare extensive communications and make sure that all users that need to actively manage their position prior to the token upgrade will be aware and have time to do so. We will further ensure that the effects of this proposal are widely understood.

Approval of this proposal constitutes an endorsement of points (1) and (2) of the Proposal Summary section above and authorizes the team to develop and implement an appropriate solution.

Please join the MANTRA Forum and you will find further information and updates

Proposal Timeline:

Pursuant to the recently passed proposal to extend the voting period to 7 days, the timeline for this specific vote is set from October 30th, 2:15 PM UTC, to November 6th, 2:15 PM UTC