The latest updates related to the $OM MANTRA (OM) currency after its listing and the crash wave, ready for publication:
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📰 What's new?
On April 21, 2025, MANTRA founder and CEO John Patrick Mullen announced the burning of 150 million OM from the team allocation—and an additional 150 million is expected to be burned for a total of 300 million OM from the total supply (~1.82 billion).
After the burn, the supply decreased to about 1.52 billion OM, reducing the bonded ratio from 31.47% to about 25.30%, and it is expected that the annualized return rate for staking (staking APR) for participants will increase.
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🐳 Massive movements by whales
Reports showed that three institutional wallets withdrew about 5.35 million OM (~20 million dollars) from Binance, at an average price of about $3.71, in the context of a partnership with the UAE company DAMAC and increasing interest in the real asset (RWA) sector through Mantra Chain.
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📛 Community complaints and warnings
Users found several issues including high withdrawal fees (for example: a withdrawal fee of $1000 was $2700) and other issues related to bridges and eligibility points for the Airdrop that had their terms changed later, raising anger and comments that the project might be opaque, with high distribution centralization and risks for investors.
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