Mantra, the platform focused on real-world asset tokenization, is taking a bold step to restore investor trust after its token price crash. The project plans to burn up to 300 million OM tokens, which equals around 16.5% of the total supply, valued at over $160 million.

🔹 Supply Reduction Aims to Boost Staking Rewards

Out of the total planned burn, 150 million OM tokens (worth roughly $80 million) will come directly from founder John Patrick Mullin’s team allocation, which had been staked since the network’s launch in October 2024.

The remaining tokens will come from “ecosystem partners,” though no specific details were shared. The overall staking ratio will drop from 31.47% to 25.30% following the burn.

The burn process has already begun and is expected to finish by April 29, when the tokens will be moved to the network’s burn address.

“The offboarding of 150 million tokens from the Team and Core Contributor pools has now started,” the team confirmed in an update.

🔹 90% Price Crash Forced Emergency Action

On April 13, OM experienced a devastating 90% price collapse, wiping out more than $5 billion in market value within hours. Mantra’s team blamed the crash on reckless exchange-driven liquidations, which triggered panic selling across the community.

🔹 What is Mantra and Why Did OM Soar Earlier This Year?

Mantra is a decentralized platform that allows users to tokenize physical assets like real estate, commodities, and data centers. These tokenized assets can then be traded or held on-chain, with OM as the main utility and governance token.

In January, Mantra announced a major partnership with DAMAC Group from the UAE to tokenize $1 billion worth of assets — a move that greatly boosted investor confidence. As a result, OM surged more than 400% in early 2024, making it one of the top-performing tokens that year.

🔹 Market Reacts Cautiously — OM Drops Despite Burn Announcement

Despite the token burn announcement — a move usually seen as bullish due to reduced supply — OM’s price dipped 3.3% over the past 24 hours. This suggests that investor confidence remains shaken following the recent crash, and recovery may take time.

#om , #crypto , #burn , #mantra , #CryptoNewss

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