{"id":51118,"date":"2025-04-22T18:40:43","date_gmt":"2025-04-22T18:40:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/mantra-founders-150m-om-burn-proposal-gets-81-support-can-it-spark-a-recovery\/"},"modified":"2025-04-22T18:40:43","modified_gmt":"2025-04-22T18:40:43","slug":"mantra-founders-150m-om-burn-proposal-gets-81-support-can-it-spark-a-recovery","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/mantra-founders-150m-om-burn-proposal-gets-81-support-can-it-spark-a-recovery\/","title":{"rendered":"MANTRA founder\u2019s 150M OM burn proposal gets 81% support: can it spark a recovery?"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/07\/token-burn-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/07\/token-burn-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/07\/token-burn-smartcrop-750x375.jpeg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/07\/token-burn-smartcrop-363x181.jpeg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Mantra CEO to burn 150M OM tokens to rebuild trust after the 90% Mantra price crash.<\/li>\n<li>81% of the community has backed the burn proposal.<\/li>\n<li>While some are optimistic about the impact of the token burn, the OM price continues to struggle at $0.50.<\/li>\n<\/ul>\n<p>After <a href=\"https:\/\/coinjournal.net\/news\/mantras-om-token-plunges-92-as-ceo-proposes-supply-burn-and-buyback-plan\/\">the dramatic 90% Mantra price crash<\/a> on April 13, 2025, as a result of reckless liquidations, Mantra\u2019s founder and CEO, John Patrick Mullin, has announced a bold plan to burn his personal allocation of 150 million OM tokens.<\/p>\n<p>This move aims to rebuild trust in the Layer 1 blockchain focused on real-world asset tokenization.<\/p>\n<p>While the April 13 crash wiped out over $5 billion in market capitalization in mere hours, Mullin\u2019s commitment to burn tokens valued at approximately $82 million at current prices has stunned the crypto community.<\/p>\n<h2>Community overwhelmingly supports Mullin\u2019s proposal<\/h2>\n<p>An <a href=\"https:\/\/x.com\/jp_mullin888\/status\/1913099839694659889\">X poll<\/a> conducted by John Patrick Mullin has garnered over 8,900 votes, with over 81% of respondents backing the immediate burning of his tokens.<\/p>\n<p>This strong endorsement reflects the community\u2019s desire for decisive action to try and help the OM token recover.<\/p>\n<p>According to the burn proposal, the tokens, currently being unstaked, will be sent to the network\u2019s burn address by April 29, 2025.<\/p>\n<p>The process ensures transparency and adherence to protocol rules.<\/p>\n<p>Mantra is also exploring a larger burn with ecosystem partners, with discussions underway to incinerate an additional 150 million OM tokens.<\/p>\n<p>This would total to 300 million tokens being burned, or 16.5% of the 1.817 billion total supply.<\/p>\n<p>Such a reduction could significantly alter the token\u2019s supply dynamics.<\/p>\n<p>If successful, the total OM token supply would drop to approximately 1.517 billion OM tokens.<\/p>\n<h2>Potential impact of the proposed Mantra token burn<\/h2>\n<p>The burn is expected to impact Mantra\u2019s tokenomics positively.<\/p>\n<p>It will reduce the bonded ratio from 31.47% to 25.30%. Staked tokens will decrease from 571.8 million to 421.8 million.<\/p>\n<p>This adjustment will boost the staking APR for remaining tokens.<\/p>\n<p>Higher staking rewards could incentivize holders to lock up their OM. Reduced selling pressure might support price stability.<\/p>\n<p>However, despite the announcement, OM\u2019s price has remained stagnant, currently trading at approximately $0.5396, up by only 0.1% in the past 24 hours.<\/p>\n<p>Following the burn announcement, the token saw a slight uptick to an intraday high of $0.5585 before quickly falling back to the $0.50 range.<\/p>\n<p>Presumably, the ongoing unstaking process may be delaying significant price movement, while market skepticism persists after the crash\u2019s shock.<\/p>\n<p>Approximately 4 million OM tokens unlock every few weeks, and with 45% of the supply still locked, selling pressure could counteract the burn\u2019s benefits.<\/p>\n<p>The April 13 crash raised suspicions of foul play, with community members accusing the Mantra team of orchestrating a sell-off, claims that Mullin and investor Laser Digital firmly denied.<\/p>\n<h2>Can Mantra\u2019s price recover in case of a burn?<\/h2>\n<p>Currently, OM\u2019s price struggles to break above $0.55, especially with the ongoing unlocks and potential liquidations looming large.<\/p>\n<p>Going by this, the market sentiment remains cautious, and the burn\u2019s psychological impact may not fully materialize until it\u2019s complete.<\/p>\n<p>However, in the long term, the burn could lay a foundation for growth.<\/p>\n<p>A 16.5% supply reduction is substantial, and coupled with staking incentives, it could tighten the circulating supply, leading to a normal supply-demand curve that could result in a hike in price.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/mantra-founders-150m-om-burn-proposal-gets-81-support-can-it-spark-a-recovery\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Mantra CEO to burn 150M OM tokens to rebuild trust after the 90% Mantra price crash. 81% of the community has backed the burn proposal. While some are optimistic about the impact of the token burn, the OM price continues to [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":51119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/51118"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=51118"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/51118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/51119"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=51118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=51118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=51118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}