click Here to claim usdt
MANTRA $OM has announced a significant token burn plan, aiming to reduce the total token supply and potentially boost the token's value. Here's what's happening:
- *Token Burn Details*:
- *Initial Burn*: 150 million OM tokens will be burned after the unstaking period ends on April 29, 2025.
- *Additional Burn*: MANTRA plans to burn another 150 million tokens, bringing the total burn to 300 million OM tokens.
- *Token Reduction*: The burn will reduce the total supply from 1.82 billion OM to 1.67 billion OM, an 8.2% reduction.
- *Impact on Tokenomics*:
- *Staked Tokens*: Removing 150 million tokens from the staked supply will decrease the bonded ratio from 31.47% to 25.30%, potentially increasing the staking Annual Percentage Rate (APR).
- *Community Trust*: CEO John Patrick Mullin is burning his entire 150 million allocation of team tokens to rebuild trust with the community.
- *Market Reaction*:
- *Price Drop*: Despite the substantial supply reduction plan, OM token price has reacted negatively, falling 5% to $0.5437.
- *Potential Rebound*: Some analysts predict a possible 50% rebound from current lows ¹.