In a bold move to address market concerns, Mantra CEO John Patrick Mullin has initiated a significant token burn following a dramatic decline in the value of $OM tokens. The cryptocurrency experienced approximately 90% devaluation during a market crash on April 13, 2025, prompting decisive action from the company’s leadership.
The burn involves 150 million OM tokens that were originally allocated to the team and staked at the network’s mainnet genesis to secure the blockchain infrastructure. This isn’t merely symbolic—these tokens were actively working to maintain network security since October 2024.
The unstaking process for these tokens has already begun and will be completed by April 29, 2025. Once fully unbonded, all 150 million tokens will be sent to a permanent burn address (mantra1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqcg2my8), effectively removing them from circulation forever.
This substantial burn will reduce the total supply of $OM tokens from 1.82 billion to 1.67 billion. Meanwhile, the staked supply will decrease from 571.8 million to 421.8 million, causing the bonded ratio to fall from 31.47% to 25.30%.
What This Means For Stakers
Iodefi has weighed in on the implications for OM stakers on X. According to Iodefi, this burn creates a win-win situation for those holding staked tokens. The token becomes scarcer. The yield becomes more attractive.
With fewer tokens in circulation and a reduced staking pool, current OM token stakers can expect higher APR (Annual Percentage Rate) on their holdings. This supply-side adjustment should theoretically strengthen the token’s positioning in the market.
🧵/ This one’s personal.
— O.N.Y.E.M.A🕵🏽♂️ (@ioDeFi) April 22, 2025
And not for the reasons most expect.
.@MANTRA_Chain just confirmed:⁰150M $OM from the CEO’s allocation is being permanently burned.
And it’s not just a gesture.
1️⃣ To be clear, these aren’t idle tokens.⁰They were staked at genesis in Oct 2024 to help… pic.twitter.com/3Q2DCX6xvg
The CEO’s burn may only be the beginning. Mantra is reportedly in discussions with ecosystem partners regarding an additional 150 million $OM token burn. If successful, this would bring the total burn to 300 million tokens—a substantial reduction in overall supply that could significantly impact token economics.
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All actions related to the burn are being conducted transparently on-chain, allowing for full verification by any interested party. The company has provided tracking resources at their official website for those wishing to monitor the process.
This decisive move demonstrates a commitment to transparency and long-term vision during challenging market circumstances, prioritizing sustainable growth over immediate gains.
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