Massive Token Burn Incoming: Mantra’s Bold Move After 90% Crash
Mantra, the real-world asset (RWA) tokenization platform, is making a high-stakes move to restore investor trust after OM token’s brutal 90% price crash on April 13 — which wiped out over $5 billion in market value in just hours.
What’s happening?
Mantra is set to burn up to 16.5% of its total OM supply — that’s around 300 million tokens, valued at $160 million. This includes a confirmed 150 million OM ($80M) from founder John Patrick Mullin’s staked team allocation and more from “ecosystem partners.”
Why burn tokens?
To boost staking rewards for existing holders.
Reduce the bonded ratio from 31.47% to 25.30%.
Reignite community confidence after the recent meltdown.
The unstaking and burn process is already underway and will conclude by April 29, when the tokens are sent to a burn address.
Background:
OM surged over 400% in 2024, driven by strong fundamentals and a major partnership with UAE’s DAMAC Group to tokenize $1B in real estate and infrastructure. But the recent crash — blamed on “reckless liquidations” by exchanges — shattered investor sentiment.
Despite this massive burn news, OM is still down 3.3% in the last 24 hours, signaling that confidence remains fragile.
Will this drastic burn revive OM’s momentum? Or is it too little, too late?
Drop your thoughts below.
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