The burning process of the 150 million #om tokens committed in MANTRA has begun. A total of 300 million $OM will be removed from the supply, together with strategic partnerships.
#mantra CEO and founder John Patrick Mullin announced that the additional allocated 150 million OM tokens will be burned. Thanks to the project team, Contemporary Week has fulfilled its token burn commitment to the community.
The tokens belonging to the team and main contributors were distributed in October 2024 to support the shares. Now, the process of retrieving 150 million OM tokens from this pool has begun. After the staking is broken, the tokens in question will be permanently burned and removed from the total supply.
The process is expected to be completed on April 29, 2025. The entire transaction can be transparently verified on the blockchain. With this burn, the total OM supply will decrease from 1 billion 820 million OM to 1 billion 670 million OM.
MANTRA also plans to burn an additional 150 million OM tokens, in agreement with its production partners in the ecosystem. This will remove a total of 300 million OM from circulation.
