| Key Points: – MANTRA OM Tokens: CEO John Patrick Mullin to burn 150M OM to restore trust. – Unstaking of team allocation underway, full burn set for April 29. – Potential second burn of 150M OM under discussion with ecosystem partners. – Burn is expected to reduce the bonded ratio and increase staking APR across the network. |
MANTRA OM Tokens burn plan begins with 150M team allocation; total burn may hit 300M as project seeks to restore trust after dramatic $5B collapse.
The token burn marks a pivotal moment for MANTRA as it seeks to stabilize its network and reassure investors. With transparency initiatives and potential supply cuts totaling 300M OM, the project is addressing concerns about insider activity and staking imbalances.
MANTRA OM Tokens Burn to Rebuild Community Trust
In response to a devastating $5 billion crash that saw OM prices plummet over 90% in just hours, MANTRA founder and CEO John Patrick Mullin has initiated the burn of his entire 150 million OM token allocation. The move follows widespread community concern and reflects Mullin’s commitment to transparency and regaining trust in the network.
The burn targets tokens originally allocated to the project’s team and core contributors, which were staked since MANTRA Chain’s mainnet debut in October 2024. The unstaking process is currently in motion and will conclude on April 29, after which the tokens will be permanently removed from circulation via MANTRA’s burn address: mantra1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqcg2my8.
On-chain proof of the process is available via public wallet addresses, offering full transparency. The community overwhelmingly backed the burn via a social media poll, with 81% supporting immediate action.
Second Wave of MANTRA OM Tokens Burn Under Review
Alongside the initial burn, MANTRA is actively engaging key ecosystem partners to initiate a second 150 million OM token burn. If completed, the total burned supply would reach 300 million OM — 16.5% of the original 1.82 billion token supply.
Such a significant supply cut would not only bolster MANTRA’s deflationary mechanics but also reaffirm investor confidence in the platform’s long-term vision. Post-burn, the total OM supply would decrease to approximately 1.52 billion tokens.
The strategic burn is expected to decrease the number of staked OM tokens from 571.8 million to 421.8 million, thereby reducing the bonded ratio from 31.47% to 25.30%. This shift is designed to improve network incentives, including higher annual staking returns.
Crash Fallout and the Road to Redemption
The decision to burn MANTRA OM Tokens follows a violent flash crash on April 13 that shook the project’s reputation. Triggered by a $40 million token deposit into OKX from a wallet allegedly linked to the team, the event ignited widespread fears of insider activity and market manipulation. Combined with rumors of secret OTC deals and a delayed airdrop, panic selling overwhelmed exchanges.
Despite Laser Digital, a known investor, denying involvement, confidence in the tokenomics of MANTRA Chain took a major hit. In the wake of the crash, Mullin emphasized that the team made no OM sales during the downturn and pledged to restore the project’s integrity through on-chain transparency.
MANTRA’s Long-Term Vision Anchored by Compliance
Still, OM tokens remain under pressure, trading at around $0.51, down 17% over the past week and over 90% from last month’s peak. While the MANTRA OM Tokens burn initiative has been welcomed by the community, sustained recovery will depend on execution, transparency, and rebuilding trust through consistent delivery.
Despite market turmoil, MANTRA continues to position itself as a leading Layer 1 blockchain for real-world assets (RWA), offering regulatory compliance and modular infrastructure for developers and institutions. With a VASP license from Dubai’s VARA, MANTRA Chain is equipped to provide brokerage, investment management, and exchange services.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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