Shareholders in Motion: Winning Opportunities Arise for Owners of OM
Revamped Review: Mantra's Move to Rejuvenate Trust and Squeeze the Token Pool
John Patrick Mullin, the boss man of Mantra, has thrown down the gauntlet, setting the plan to torch a hefty chunk of his team's OM tokens. Announced like a whirlwind last week, this move is Mantra's mission to construct a crystal-clear and bulletproof financial foundation. These OM tokens were staked back in October 2024 when the Mantra Chain mainnet was unleashed on the world, ensuring network safety. The unstaking jamboree is in full swing and is expected to wrap up by April 29. After lighting a candle and sending them packing to the burn address, these tokens will vanish into thin air, never to be seen again.
This dynamite decision shrinks the overall OM supply from 1.82 billion to a more manageable 1.67 billion. It's worth mentioning that the staked OM will see a dramatic decrease from 571.8 million to a leaner 421.8 million, causing the staking ratio to nosedive from 31.47% to 25.3%.
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This reduction in the token pool supply could potentially crank up the annual yield percentage (APR) for staking pools, making it oh-so-tempting for token owners to join the staking party. There are ongoing natterings with certain partners about torching an additional 150 million OM tokens. If this happens, the total burn count will reach a whopping 300 million OM.
In the past, Mullin declared that all team tokens would be cindered to win back trust in the project. This bold move was made after a significant slump in OM's price on April 13, 2025. The 300 million OM tokens held by the team and contributors accounted for 16.88% of the total supply and were set to be doled out gradually between 2027 and 2029 under ordinary circumstances.
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Background:Mantra Platform has embarked on a two-stage token burning journey to put a band-aid on its ecosystem after the 90% OM price crash on April 13, 2025[3][4]. Here's the skinny on the key updates and consequential implications:
Burn Specifics
- Scale: Burning 300 million OM tokens (16.5% of the total supply)[2][3], including 150 million tokens from CEO John Mullin's team allocation[5]. The remaining 150 million will hail from ecosystem partners[3].
- Timeline: Unstaking of Mullin's tokens kicked off immediately, with burns anticipated to culminate by April 29, 2025[3][5].
- Post-Burn Supply: Total supply will diminish from 1.82 billion to 1.67 billion OM[5].
Impact on Staking Pools
- Bonded Ratio Reduction: Staked tokens will decrease from 571.8 million to 421.8 million OM, slashing the bonded ratio from 31.47% to 25.30%[3][5].
- APR Bump: The reduced supply and staking participation are projected to bumper up staking rewards, although exact APR numbers hinge on post-burn validator behavior[4][5].
- Market Consolidation: The burn aims to reinstate trust and lessen sell pressure, theoretically bolstering OM's price rebound[1][4].
Mantra espouses openness via a live dashboard for tracking tokenomics buckets and staking metrics[1][3]. The move follows a $5 billion market loss during OM's crash, attributed to exchange liquidations[3][4].
- CEO John Mullin, the head of Mantra, has made a bold move to reduce the OM token supply by burning 150 million tokens from his team's allocation.
- The ongoing plan to burn an additional 150 million OM tokens from ecosystem partners could potentially lead to a total burn count of 300 million OM tokens.
- The upcoming two-stage token burning journey, as part of Mantra's efforts to rejuvenate trust and lessen sell pressure, will see the burning of 300 million OM tokens (or 16.5% of the total supply).
- As part of the token burning process, the unstaking of John Mullin's tokens has already begun and is expected to be completed by April 29, 2025, thereby reducing the total OM supply from 1.82 billion to 1.67 billion.
