One of Korea’s biggest cryptocurrency exchanges, Upbit is adding a new list of digital assets. Exchange has announced that it will support the Layer 1 Blockchain Project Mantra (OM) with KRW (Korean Win), BTC and USDT trading pairs. Transaction support will begin at 3:00pm on May 21st.
Upbit announces new trading pairs for Mantra (OM): Support begins with KRW, BTC and USDT Markets
According to a statement prepared by Upbit, both Mantra (OM) deposits and withdrawals will be activated within two hours of the official announcement.
Temporary trading restrictions
Similar to the new asset list, OMs will have some temporary trading restrictions.
- Purchase Limitations: You will not be permitted to purchase orders for the first 5 minutes after trading support begins.
- Minimum Sales Price Limit: During the same period, sales orders cannot fall 10% below the previous closing price.
- Order Type Restrictions: Only limit orders are accepted for 2 hours after trading begins.
These measures aim to maintain market stability and prevent sudden price fluctuations.
What is an OM token?
Mantra (OM) is a native token for the Mantra chain, a layer 1 blockchain focused on tokenizing physical assets compatible with Ethereum Virtual Machine based on the Cosmos SDK. The network provides the following components optimized for enterprise use:
- Mantra Did: Authentication System
- Mantra Guard: Defi security modules that support regulatory compliance
- Mantra token services: physical asset tokenization infrastructure
OM tokens are used for network fees, staking, governance, certification levels, liquidity incentives and regulatory reporting.
The Mantra (OM) list is expected to further show Upbit’s emphasis on Defi-focused projects in expanding the Digital Asset portfolio, attracting a growing interest from institutions and individual investors.
*This is not investment advice.