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MANTRA (OM) announced a large burn: Target 300 million
The CEO and founder of MANTRA, John Patrick Mullin, announced that 150 million OM tokens allocated to the team will be burned. This way, the project team has fulfilled their token burn commitment made to the community last week.
Tokens belonging to the team and main contributors were staked to support network security in October 2024. Now, the process of unstaking 150 million OM tokens from this pool has been initiated. After the completion of the unstaking process, the aforementioned tokens will be permanently burned and removed from the total supply.
The process is expected to be completed on April 29, 2025. The entire transaction will be transparently verifiable on the blockchain. With this burn, the total OM supply will decrease from 1 billion 820 million OM to 1 billion 670 million OM.
MANTRA is also planning to burn an additional 150 million OM tokens in accordance with the negotiations it is conducting with strategic business partners in the ecosystem. Thus, a total of 300 million OM will be removed from circulation.
Published: April 21, 2025 16:18