- Mantra will burn 300 million OM tokens to fix the recent price crash.
- The founder is giving up 150 million of his own tokens to support this.
- This step is meant to rebuild trust and improve token value over time.
Mantra, a crypto project that focuses on turning real-world assets like real estate into digital tokens, is taking a big step to recover after its token, OM, crashed in price. The token recently lost about 90% of its value in just a few hours, causing panic among investors. To rebuild trust and strengthen its community, Mantra has announced it will burn 300 million OM tokens, which are worth around $160 million. This means those tokens will be permanently removed from circulation.
Founder Gives Up His Own Tokens
Out of the total 300 million tokens being burnt, half—150 million OM—are being given up by Mantra’s founder, John Patrick Mullin. These were part of the tokens he received when the project started. He had them staked since the network launched in October 2024. Now, he has started the process of unstaking and burning them. Mantra says all these tokens will be fully burnt by April 29, 2025.
The other 150 million OM tokens will be burnt by some of Mantra’s ecosystem partners. The company hasn’t named these partners, but they say the goal is clear: reduce the total number of tokens that are actively staked. Right now, about 31.47% of OM tokens are staked, and the burn will bring this down to around 25.30%. Mantra says this will make staking more rewarding for those who continue to hold and support the token.
Why the Price Dropped So Much
The OM token lost more than $5 billion in value during a sudden crash on April 13, 2025. According to Mantra, this happened because of large, unplanned liquidations on some exchanges. In simple terms, too many tokens were being sold too quickly, which caused the price to fall fast. Even after the burn was announced, OM’s price dropped slightly more, showing that people are still nervous about the token’s future.
But Mantra is hoping the token burn will help bring back confidence. By removing such a large number of tokens from the supply, the team wants to show they are serious about making things right. The fewer tokens there are, the more valuable the remaining ones could become over time.
What’s Next for Mantra
Just a few months ago, Mantra partnered with UAE’s DAMAC Group to turn $1 billion worth of real-world assets into digital tokens. This deal had helped boost OM’s price earlier this year. So, the recent crash has been a major setback for the project.
Now, with this bold move to burn 300 million tokens, Mantra is trying to show investors that it’s focused on the long run. The hope is that this change will lead to a stronger and more stable future for the OM token and the Mantra platform overall.
