Today, MANTRA announced that its CEO and Founder, John Patrick Mullin, is burning his 150 million allocation of team tokens. This move is part of a commitment made to the community last week, aiming to rebuild trust and demonstrate a focus on creating a trusted, accessible, and inclusive financial ecosystem through tokenization. The announcement was made here.

The Team and Core Contributor tokens were initially staked at the mainnet genesis in October 2024 to bootstrap network security. The process of unstaking 150 million tokens from the Team and Core Contributor bucket has now begun. This process can be verified through the following transaction hashes: CE0E166DED4F267B22F16D011A7F511FFDDB4AADB31A2FE6A0E6E81690E339AA, DFB6C3DDFFDC09B9B2A16175401D8B7DB81C79C774203E17859694FA9D8C79C5, and 7D056D17F2A57A27E807FB9F12E739B24306FC7B8B651B27622A022EC18EFD5D.

The unstaking period will be completed on April 29, 2025. Once finalized, all tokens will be sent directly to the burn address: mantra1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqcg2my8. These tokens will be permanently removed, reducing the total supply by 150 million OM.

Impact on Staking and Future Plans

In addition to the current burn, MANTRA is in discussions with key ecosystem partners to implement an additional 150 million OM token burn, potentially bringing the total burn amount to 300 million OM.

After the unbonding process, MANTRA Chain will burn 150 million OM, reducing the total supply from 1.82 billion OM to 1.67 billion OM. This will also decrease the number of staked tokens from 571.8 million OM to 421.8 million OM. Consequently, the bonded ratio will drop from 31.47% to 25.30%, leading to an increase in staking APR. Once the burn transaction is executed and confirmed on the blockchain, complete verification will be provided.

Why This Matters: Impact, Industry Trends & Expert Insights

MANTRA’s CEO, John Patrick Mullin, has initiated the burning of 150 million team tokens as a strategic move to rebuild community trust and enhance the ecosystem’s financial integrity. This action is part of a broader plan to potentially burn a total of 300 million OM tokens, significantly reducing the token supply.

Recent industry reports indicate that token burning remains a key supply management tool in crypto, often backed by strong community visions and strategic tokenomics to create scarcity and value. This aligns with MANTRA’s initiative, as the reduction in token supply aims to increase scarcity and potentially boost long-term value.

As per insights from tokenomics experts, reducing token supply through mechanisms like token burns can introduce scarcity, potentially driving up demand and positively impacting token value. This supports MANTRA’s strategy to enhance the perceived value of the OM token by reducing its supply.

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