MANTRA to burn 300m $OM tokens in effort to rebuild trust

The Mantra of the Defi protocol began the burning process 150 million OM tokens of its team and the basic contributor allowance.

The disconnection of these tokens is underway and should be completed by April 29, when the tokens will be sent to an designated burning address and permanently withdrawn from traffic, according to a company job.

This initiative is designed for Restore community confidence and improve the economic structure of the platform after its value fall More than 90% in the last 24 hours in mid-April.

The tokens were originally marked out during the launch of Mainnet in October 2024 to help Bootstrap Network Security. Their deletion will reduce the mantra (If) The total offer of tokens of 1.82 billion in two 1.67 billion.

Consequently, the number of laid tokens will drop from 571.8 million to 421.8 million OM, reducing the bound ratio from 31.47% to 25.30%. This reduction in the linked ratio should increase the online rewards on the channel.

300 million total tokens

CEO and founder John Patrick Mullin, who previously dotted 772,081 team tokens on Fluxtra, confirmed that he was also burning his full allocation of 150 million OM. This follows his public commitment last week to give up all the tokens held by the team as part of the Wider burning initiative.

In addition to the Burn team, Mantra says that it is active discussion with ecosystem partners to coordinate 150 million additional token OM. If successful, the total burned amount will reach 300 million OM.

The burn can be followed on the chain through transaction hashs provided by Mantra. Once finalized, the complete verification of burns will be made public, according to the project.