$OM Mantra CEO Proposes Token Burn to Restore Investor Confidence

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According to PANews, Mantra CEO John Patrick Mullin has proposed burning his own OM tokens to restore investor confidence following a significant drop in the native token's price. Mullin stated that the tokens he holds are part of the 300 million OM tokens reserved for the team, which are set to be unlocked by April 2027.

On April 15, Mullin made a public statement on the X platform, pledging to destroy his future share of these tokens. He mentioned that if the project recovers, the community could decide whether he should regain these tokens. According to Tokenomist, Mullin currently holds approximately 772,000 OM tokens, which is less than 1% of the over 80 million OM tokens in circulation as of April 15. He has allocated his tokens to the liquid staking protocol Fluxtra. Although he has made this commitment and disclosed his current holdings, he has not revealed the exact amount, stating that he will do so once the burn plan is ready.