Mantra CEO John Patrick Mullin has began the process of burning 150 millions $OM tokens in an effort to tighten supply and restore investor confidence.

Mantra is also in discussions with key ecosystem partners to burn an additional 150 million OM tokens. If successful, the total number of tokens burned will reach 300 million.

The action comes just two days after OM’s price plummeted by 90% on April 13.