MANTRA has announced that its CEO and Founder, John Patrick Mullin, is burning his full 150 million token allocation from the team’s share — a move promised to the community last week. This action aims to rebuild trust and reflect MANTRA’s commitment to creating a secure, accessible, and inclusive financial ecosystem powered by tokenization.
Originally staked at the mainnet launch in October 2024 to support network security, the 150 million OM tokens from the Team and Core Contributor allocation are now in the process of being unstaked. The unbonding period will conclude on April 29, 2025, at which point the tokens will be permanently removed from circulation, reducing the total supply of OM by 150 million.
MANTRA is also actively engaging with ecosystem partners to initiate an additional 150 million OM token burn, potentially bringing the total burn amount to 300 million OM.
Staking APR and Supply Implications
Once the initial 150 million OM tokens are burned, MANTRA’s total supply will shrink from 1.82 billion OM to 1.67 billion OM, and the amount of staked tokens will decrease from 571.8 million OM to 421.8 million OM. This shift will lower the bonded ratio from 31.47% to 25.30%, leading to an increase in staking APR for remaining stakers.
The burn will be executed and recorded on-chain, with full verification provided once complete.
Market Reaction: A Brief Boost, Then a Pullback
Following the announcement of the 150 million OM token burn, MANTRA’s token saw an immediate price surge, briefly reaching nearly $0.60. The move reflected a wave of optimism from the community and market participants, fueled by the symbolic and supply-reducing gesture from CEO John Patrick Mullin.
However, the boost was short-lived. Within a few hours, the token pulled back to around $0.511, returning close to its previous levels. Despite the significant burn, the market’s quick reversion suggests that investors may be looking for longer-term signals of growth and utility beyond supply adjustments alone.
MANTRA operates under a Virtual Asset Service Provider (VASP) license issued by Dubai’s Virtual Assets Regulatory Authority (VARA), allowing it to function as a Virtual Asset Exchange and offer Broker-Dealer and Investment Management services.
