MANTRA CEO Reveals How Many Tokens He Plans to Burn

OM token recently experienced a catastrophic 90% drop in value on April 13, 2025, wiping out over $5 billion in market capitalization.

The CEO of real-world asset-focused Layer 1 blockchain MANTRA has announced an ambitious plan to burn his personal allocation of 150 million OM tokens.

The move, part of broader efforts to rebuild trust following a catastrophic 90% drop in OM token price on April 13, will reduce the bonded ratio from 31.47% to 25.30% and increase staking Annual Percentage Rates.

MANTRA is also in "ongoing conversations with key ecosystem partners" to potentially increase the total number of tokens to be burned to 300 million, or roughly 16.5% of the network’s entire supply of 1.8 billion OM tokens.

The OM token experienced a catastrophic 90% drop in value on April 13, wiping out over $5 billion in market capitalization.

The collapse, which occurred amid a broader crypto market downturn and what MANTRA called "reckless liquidations," has raised concerns among investors.

However, the team at MANTRA, backed by investor Laser Digital, has denied any involvement in sales or market manipulation during this tumultuous period.

In a statement on social media platform X, Mullin said: "There were no $OM sales by the MANTRA team during this period of market distress. We are confident that further information from our centralized exchange partners will provide more clarity on these events."

The decision to burn tokens is a bold one and could help restore some investor confidence.

The cryptocurrency market has seen heightened volatility in recent times, with Bitcoin price movements a key focus for many investors.

As mentioned in previous analyses, the broader market’s performance is heavily influenced by macroeconomic factors, such as the weakening of the US dollar, which has driven more investors towards Bitcoin and other crypto assets.

While Bitcoin is seeing new all-time highs, altcoins like OM are still recovering from recent market crashes. The coming weeks will be crucial in determining whether these efforts will prove successful and how they will impact the broader market landscape.

For investors, staying informed about both macroeconomic conditions and specific token developments will be essential in navigating this turbulent environment.