Mantra Plans to Burn $300 Million OM Token, Price of OM Immediately Becomes the Focus!
The cryptocurrency market was recently shocked by the announcement from MANTRA regarding plans to significantly burn OM tokens. A total of 150 million OM tokens will be removed from circulation, with an additional plan to burn another 150 million.
Although this should be good news as it reduces the number of circulating tokens, the price of OM tokens has actually decreased by about 5% in the last 24 hours, now priced at $0.5437. John Patrick Mullin, CEO and Founder of MANTRA, has taken a bold step by deciding to burn the entire allocation of 150 million tokens that he owns.
The token burning process has begun with the unstaking withdrawal from the Team and Core Contributors allocation. MANTRA is committed to executing this process transparently and has provided technical details for verification by the community.