Tag: founder

• The mantra CEO will burn 150 million tokens OM to rebuild confidence after the 90% drop in the mantra price.
• 81% of the community has supported the burning proposal.
• While some are optimistic about the impact of tokens burning, the OM price continues to fight at $ 0.50.

After the dramatic fall of 90% of the price of mantra on April 13, 2025, as a result of reckless liquidations, the founder and CEO of Mantra, John Patrick Mullin, announced an ambitious plan to burn his personal assignment of 150 million tokens OM.

This measure seeks to rebuild confidence in layer 1 blockchain, focused on the tokenization of real assets. Although the fall of April 13 eliminated more than 5 billion dollars in market capitalization in a matter of hours, Mullin’s commitment to burn tokens valued at approximately 82 million dollars at current prices has surprised the crypto community.

The community overwhelmingly supports Mullin’s proposal

A X survey Made by John Patrick Mullin, he has obtained more than 8900 votes, with more than 81% of respondents supporting the immediate burning of their tokens. This firm support reflects the desire of the community to take decisive measures to try to help the recovery of Token OM.

According to the burning proposal, the tokens, currently without a staking, will be sent to the Network Burning Directorate before April 29, 2025. The process guarantees transparency and compliance with protocol standards.

Mantra is also exploring a major burning with ecosystem partners, and the burning of 150 million additional OM tokens is being negotiated. This would add 300 million tokens that would burn, or 16.5% of the total supply of 1817 million. This reduction could significantly alter the dynamics of Token supply. If successful, the total supply of tokens OM would be reduced to approximately 1517 million.

Potential impact of tokens mantra burning proposal

The burning is expected to impact mantra tokenomics. It will reduce the bond rate from 31.47 % to 25.30 %. Staking tokens will decrease from 571.8 million to 421.8 million.

This adjustment will increase the Staking Tae for the remaining tokens. Greater staking rewards could encourage headlines to block their OM. Lower sales pressure could favor price stability. However, despite the announcement, the price of OM has remained stagnant, currently quoting at approximately $ 0.5396, an increase of only 0.1 % in the last 24 hours.

After the announcement of the burning, the Token experienced a slight rebound until reaching a maximum intradic of $ 0.5585 before falling quickly to the range of 0.50 $. It is assumed that the current destaking process could be delaying a significant price movement, while market skepticism persists after the impact of the fall.

Approximately 4 million om tokens unlock every few weeks, and with 45% of the supply still blocked, the sales pressure could counteract the benefits of burning. The fall of April 13 generated dirty game suspicions, and community members accused the mantra team to orchestrate a massive sale, statements that Mullin and the Digital Laser investor flatly denied.

Can the mantra price recover in case of burning?

Currently, the price of OM struggles to exceed $ 0.55, especially with the ongoing unlocks and possible imminent liquidations. In view of this, the feeling of the market remains cautious, and the psychological impact of burning may not materialize completely until it is completed.

However, in the long term, burning could lay the basis for growth. A 16.5% reduction in the supply is substantial and, added to Stking incentives, could restrict the circulating offer, which would lead to a normal supply-demand curve that could result in an increase in the price.