#om #mantra

MANTRA Responds to Market Crash with Major Token Burn Initiative

After a sudden 90% drop in OM token value, which erased nearly $5 billion from its market cap, MANTRA is taking bold action to restore investor confidence.

CEO John Patrick Mullin has committed to burning 150 million $OM tokens from his team’s allocation. These tokens were originally staked during the October 2024 mainnet launch and are now in the process of being unstaked. Once this process is complete—expected by April 29, 2025—the tokens will be permanently removed via a burn address.

Why This Matters

Total Supply Reduction: From 1.82B to 1.67B OM

Staked Tokens: Decrease from 571.8M to 421.8M OM

Stake Ratio: Drops from 31.47% to 25.30%

Staking APR: Likely to increase due to fewer staked tokens

The move is not just symbolic—it’s a strategic effort to realign supply dynamics and incentivize long-term staking by boosting rewards.

Looking Ahead

MANTRA also revealed it’s in discussions with ecosystem partners to burn an additional 150 million OM tokens, potentially bringing the total burn to 300 million. If successful, this would represent one of the largest token supply reductions in the project’s history.

Despite initial positive momentum, OM’s price has remained volatile, falling 5% in the past 24 hours. The coming weeks will be crucial as investors watch whether this burn strategy helps stabilize the project.