Official Announcement . 300M tokens being burnt by the OM Team alongwith the CEO JP Mullin.
Today, MANTRA announces that CEO and Founder, John Patrick Mullin is burning his 150 million allocation of team tokens. The burn was a commitment made to the community last week. Both in an effort to rebuild trust, but demonstrate an unwavering focus upon building a trusted, accessible and inclusive financial ecosystem, delivered through tokenization.
The Team and Core Contributor tokens were staked at mainnet genesis, in October 2024, to bootstrap network security. The process of unstaking 150 million tokens from the Team and Core Contributor bucket has now begun. It can be verified through the following transaction hash;
The unstaking period will be completed on 29 April 2025. Once this process is finalized, all tokens will be sent directly to the burn address: mantra1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqcg2my8.
These tokens will be permanently removed, reducing the total supply by the same amount, 150 million OM.
Additionally, MANTRA is in ongoing conversations with key ecosystem partners to implement an additional 150 million OM token burn, which will bring the total burn amount to 300
More than 91% of the current circulating supply was issued on ETH Blockchain and has been there once the last 5 years - JP Mullin,CEO, OM (Mantra Dao) 🔥🔥🔥
This guy and his team have been facing all the interviews, been on all possible public spaces, answered every single critic and have been working their guts off. Even willing to burn their tokens and buyback & burn as much as possible from the market.
Note that 26M $OM re acquired at 5c🔥 and over 195M OM had been acquired at 6.6$🔥 add bother 100M between 7$ to 9$ and 200M between 3$ to 6$. OM has 960M odd circulating. Now do your math including the probability that if the team burns nd busy back. $OM has to rocket seeing the market dynamics, alt season nd current n upcoming partnerships. Do consider DAMAC has not uttered a word post this dip, they igned 1billion$ deal in January with OM. There has to be something very strong bout the project.
Fun Fact now if someone today sells 10Million$ of SOL or XRP the market will crash 50% cause there is hardly as much liquidity on Binance or CEX. Most importantly BTC has top 1% holders holding 90% of Bitcoins supply. Imagine tomorrow if Mr.Saylor comes up nd sells 5000BTC on Binance, they trust me BTC will touch 20k or lesser.
This is exactly why liquidity shud be common to a consortium of exchanges. ( Something should be one about it so that gud projects and investors don't bleed unnecessarily ). Similarly if 4Million$ are pumped in on Binance just now buying OM it I'll be back to 6$ in flash but that won't be a fundamental stability call.
Note that not just OM but XRP, SOL and may other top tier Coins have unlimited supplies. Unlimited doesnt mean they click a button n sell, its not pumpfun.
To conclude,OM is a strong project which has been around since 2020. We ll have seen it grow from 1c to 9$ and the this huge drop. It still is 40x to 50x as compared to last couple of years or so. If all goes as planned as it's being seen and verified. OM will be one of the biggest forces to recon with.
JP Mullin, CEO of $OM announces not just to burn 🔥🔥🔥300Million self and team tokens but also to burn more of the other OM supply 🔥🔥🔥 That's a huge news and shows not just conviction but also the belief they have in their project. Imagine 300M🔥🔥🔥 burnt from current 960M circulating. Moreover once the team burns it's full supplies the DAO decisions will be in the hands of the existing holders totally.
The SEC’s Division of Corporation Finance released a detailed statement on March 20, 2025, confirming that Bitcoin mining, whether done solo or in mining pools, does not trigger U.S. securities laws. This regulatory clarification is a major step forward for the cryptocurrency sector, particularly for Bitcoin, which remains the largest and most prominent proof-of-work coin.
Just Closed a few trades that were long pending approx 7 to 10 days. Took loses as funding fees for a few days but kept my margins intact, did buy again at the bottom to get my entry levels lower. Ultimately closed yesterday , not at the days peak though. Was not sure where the market will go. Yes Wednesday onwards might have a clear direction post the FED and US data.
One thing is for sure. There is not much of bottom left probably a 7% to 10% max further downside, if any.
What is the Pi Backend and Management doing ? Users who have spent years just waiting and listening to all instructions are now posting on Binance and asking for small lil things that ideally a Pi support system should be resolving. Either they are not informed or there isn't my support mechanism.
They have been promised the moon I guess. Poor things do not even understand that if KYC and some important features are being managed by the Backend then this is a Semi Centralized system and not fully decentralised at all.
Users are complaining that their Pi coins are disappearing from their wallets. Some mentioning that they are unaware of how to complete KYC etc.
Why don't they understand that the Pi ecosystem may sound decentralised but it is unilaterally controlled by a few people.
Some users have also shared wallet balance in 6 or 7 figures. Imagine what is gonna happen when liquidity pumps in.
It is also funny when the I'll informed compare this to top Cryptos. They must understand few things :
1. BTC nd another minable Cryptos cost users money to mine, hence they have an eccentric value.
2. Pi has built great community but are they investors ? I doubt as 90% of them do not understand Blockchain or how the markets function.
3. 100Bill Pi and the fans think it will hit 100$ or 1000$ etc, not understanding that any decent 100B coin in circulation has settled or 10c or less except few like XRP which is something Pi will take Billions of years to come near to.
I just hope good sense prevails and users / buyers are cautious.
Pi coin according to me is just a glorious version of the One Coin. It's free to mine but the mining wallets are centralized ( as admins n Pi tech can control them ) meaning they can anytime be managed by one click or one person running the show.
If this post upsets some die hard fans of Pi who want to make it rich without investing and feel that this offends them. I am sorry. But it will be sad seeing them sorry at the end of the day.
Last few days I have observed a peculiar and unusual thing about $OM Trades. The bids and asks are not in decimals like 234.765, 18.98, 1256.80 rather in Whole Numbers that too small like 2,3,4,10,15.
Check any other chart for any coin in the 3 to 10$ range. You will understand what I mean.
Does any one know why this unusual pattern ? Are these Bot Trades ? If so where are the buyers nd sellers ?
$OM The Power of HODL ( Holding ). Crypto is all about patience . Keep a mix bag and HODL & Believe ? Some will reap profits, some will give losses and a couple will blast you to the moon.