In a decisive move to restore confidence after a significant market downturn, MANTRA CEO and Founder John Patrick Mullin has initiated the burn of his personal allocation of 150 million OM tokens. This action is part of a broader plan to permanently remove a total of 300 million OM tokens from circulation, effectively reducing the total supply from 1.82 billion to 1.67 billion OM. The initial 150 million tokens are currently undergoing an unstaking process, scheduled for completion by April 29, 2025, after which they will be sent to a designated burn address.
This strategic burn is expected to decrease the bonded ratio from 31.47% to 25.30%, potentially leading to an increase in staking APR for OM holders. MANTRA is also in discussions with key ecosystem partners to implement an additional burn of 150 million OM tokens, further aiming to enhance token value and investor confidence. $OM
