OM investor read carefully
As of May 1, 2025, the most recent developments concerning the OM token and the MANTRA platform are as follows:
🔥 Token Burn Completed
On April 29, MANTRA finalized the burn of 150 million OM tokens, reducing the total supply from 1.82 billion to 1.67 billion.
This move aimed to decrease the bonded ratio from 31.47% to 25.30%, thereby increasing staking rewards for participants. An additional 150 million OM tokens are slated for burning in collaboration with ecosystem partners, bringing the total planned burn to 300 million OM tokens.
⚠️ CEO's Call for Industry Reform
In response to the April 13 crash, MANTRA CEO John Mullin emphasized the need for industry-wide cooperation to mitigate investor risks. He highlighted that the incident was not isolated to MANTRA but indicative of broader systemic issues, particularly aggressive leverage positions on exchanges. Mullin called on exchanges to reassess their risk policies to prevent similar occurrences in the future.
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🛠️ Infrastructure and Transparency Enhancements
To rebuild trust and enhance transparency, MANTRA has implemented several initiatives:
OM Dashboard Launch: A real-time dashboard providing insights into token supply and on-chain holdings.
Network Decentralization: Plans to reduce internal validators by half and integrate 50 external partner validators by the end of Q2 2025.
Omstead Testnet: Initiation of an Ethereum Virtual Machine (EVM)-compatible testnet to bolster technical resilience and support decentralized application development.
📉 Market Impact and Outlook
Despite the token burn and infrastructure improvements, OM's price remains volatile. As of April 27, 2025, the token was trading at approximately $0.5285, down from its pre-crash value of over $6.
Market analysts express caution, noting that while the burn may provide short-term relief, long-term recovery depends on broader market conditions and investor confidence.
