The Mantra chain will burn 46,748,029,438 tokens worth $176 million, let's discuss:

John Patrick Mullin, CEO and founder of Mantra chain, is burning an allocation of 150 million tokens of 46,748,029,438 from his team share. In addition, MANTRA will also burn an additional 150 million tokens from the team and core contributors after the unstaking period ends.

This strategic move will decrease the bonded ratio from 31.47% to 25.30%, which automatically increases the staking APR.

Is this good news?.. Good.

Will this make the Mantra token shine again?.. perhaps not.

It seems that the CEO of MANTRA does not understand the concept that once disappointed, trust is hard to regain.

So what will be burned? The initial supply of Mantra tokens was 888M when it was still on Ethereum. After moving to the Mantra chain, the total supply became 1.77M.

As of April 2025, the supply increased to around 1.82M, so after the plan to burn 300 million Mantra tokens, the supply will drop to around 1.52M. The CEO and the Mantra chain team seem to like joking 😅

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