Has recently navigated significant volatility, strategic restructuring, and renewed investor interest.
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š April 2025: A Sudden 90% Price Crash
On April 13, 2025, OM experienced a dramatic 90% price drop, plunging from approximately $6.32 to as low as $0.49 within minutes. Mantra's co-founder, John Patrick Mullin, attributed this crash to "massive forced liquidations" by centralized exchanges during periods of low liquidity .
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š„ Strategic Token Burn: 300 Million OM Removed
In response to the crash, Mantra initiated a significant token burn, permanently removing 300 million OM tokens (about 16.5% of the total supply). This included 150 million tokens from Mullin's own allocation. The burn aimed to reduce the total supply from 1.82 billion to 1.67 billion OM, decrease the bonded ratio from 31.47% to 25.30%, and enhance staking rewards .
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š Ecosystem Developments and Partnerships
Despite recent challenges, Mantra continues to expand its ecosystem:
Nansen Joins as Validator: Blockchain analytics firm Nansen has become a validator on the Mantra Chain, enhancing compliance and data transparency .
Partnership with WIN Investments: Mantra has partnered with WIN Investments to tokenize real-world sports assets, bringing them on-chain .
Dubai License Acquisition: Mantra secured a Virtual Asset Service Provider (VASP) license from Dubaiās Virtual Assets Regulatory Authority (VARA), allowing it to operate as a virtual asset exchange and offer broker-dealer and investment services.
