Massive Token Burn: MANTRA CEO Destroys 150 Million OM to Win Back Investor Trust!

Updated

April 23, 2025

Gambar Massive Token Burn: MANTRA CEO Destroys 150 Million OM to Win Back Investor Trust!

Jakarta, Pintu News – Mantra , a Layer-1 blockchain focused on real assets, is executing an aggressive token burn strategy to restore investor confidence after experiencing one of the most dramatic price crashes in recent crypto history.

Mantra’s CEO, John Patrick Mullin, has begun the process to burn his 150 million OM tokens, which are worth approximately $82 million.

This move is part of a larger effort to improve the economic structure of the platform and increase staking returns for users.

OM Token Burning Strategy

This is a first step in rebuilding trust with the community, but far from the last. We will share more in the coming days about our plans to ensure alignment going forward. 🫡🕉️ https://t.co/685jVsJNBA
— JP Mullin (🕉, 🏘️) (@jp_mullin888) April 21, 2025

John Patrick Mullin, the creator and CEO of Mantra, has taken a big step by initiating a 150 million OM token burn.

The burn is expected to reduce the number of tokens in circulation from 1.82 billion to 1.67 billion OM, and significantly reduce the number of staked tokens from 551.8 million to 421.8 million. This represents a decrease of more than 26% in staked tokens, aiming to increase staking returns for users by reducing the bound ratio from 31.47% to 25.30%.

Furthermore, this token burn was in response to the OM price crash that occurred on April 13, where the token lost more than 90% of its value within an hour. This incident destroyed more than $5.5 billion in market capitalization.

The token burn is expected to restore some of the lost trust and strengthen OM’s position in the market.

OM Price Impact and Prediction

Despite the announcement of the token burn, OM prices remained volatile. The token price briefly rose 4% after the announcement, but then declined again. As of April 22, 2025, OM is testing critical support at $0.51.

If this level does not hold, the next support zone is around $0.48, with a potential further drop to $0.46. For a significant recovery, OM needs to re-break the $0.55 level with strong momentum before facing resistance at $0.59, $0.71, and eventually reaching the $1 psychological mark.

Although token burning could potentially increase value by reducing supply, investor sentiment is still heavily influenced by concerns about the centralized concentration of tokens, poor governance, and the scope of the latest crash.

Transparency and Mantra Recovery Strategy

In addition to the token burn, Mantra has also launched a real-time tokenomics dashboard on April 19 to increase transparency by displaying EVM and mainnet OM supply, wallet holdings, and on-chain statistics.

The team has promised to add “additional features” to meet investors’ need for clarification after a disaster. Some observers compared OM’s situation to previous tragedies such as Terra LUNA and wondered whether this burning was merely symbolic or truly a strategic move meant to rebuild the venture.

Although early investors are said to still be making profits, those who joined during the last price rise have incurred huge losses despite the downturn.

Overall, the broader crypto market is showing signs of optimism as Bitcoin continues to approach $90,000.

However, OM recovery depends on more than just good macro conditions; it also requires sustained positive developments, rebuilt investor confidence, and perhaps fundamental improvements beyond tokenistic adjustments.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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