The MANTRA team announced a massive burn of 300 million OM tokens to restore investor trust after a 90% price drop of the token, which fell from $6.30 to $0.50 on April 13, 2025 [web:19]. Project founder John Patrick Mallin decided to burn his share of 150 million OM, valued at $80 million, as well as additional tokens from 'ecosystem partners', although details regarding the latter have not been disclosed [web:0]. This will reduce the total supply from 1.82 billion to 1.67 billion tokens, and the ratio of locked tokens will decrease from 31.47% to 25.30%, which may increase staking rewards [web:0].
The decision was a response to the crisis of trust following a sharp decline associated with liquidity issues and forced liquidations on exchanges [web:6]. Mallin also proposed to conduct a decentralized vote on burning the team's tokens [web:11]. However, analysts warn that this may only be a temporary measure, and structural risks similar to the collapse of Terra LUNA remain [web:19].
Users on X express mixed opinions: some see it as a step towards recovery, others as a desperate attempt [post:0]. Want to know more about MANTRA? Subscribe to #MiningUpdates
