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#OM 🔥☕️MANTRA announces that the CEO and founder, John Patrick Mullin, will burn 150 million of his team's allocated tokens to rebuild trust and demonstrate commitment to an inclusive financial ecosystem.
This burn is part of a commitment made last week and will be carried out through the process of unstaking tokens staked on the genesis mainnet since October 2024. Once the unstaking process is complete on April 29, 2025, the tokens will be sent to the burn address and permanently deleted, reducing the total supply of OM by 150 million. MANTRA is also in discussions with ecosystem partners for additional burning of 150 million OM, which will bring the total burning to 300 million OM.
Token Burn Details
Burning 150 million OM:
This is the burning of the team allocation tokens held by CEO and founder John Patrick Mullin.
Unstaking Process:
The tokens to be burned have been staked on the mainnet genesis since October 2024. The unstaking process has begun and will be completed by April 29, 2025.