Mantra founder and CEO John Patrick Mullin has initiated the process of burning 150 million OM tokens to enhance the token’s value by reducing the supply. The unstaking process began on April 21 and is set to conclude by April 29, marking the transfer of Mullin’s OM tokens to a burn address for permanent removal from circulation. Following a 90% price drop on April 13, Mullin announced his intention to burn all staked tokens allocated to him during the blockchain’s genesis, which were to be unlocked starting in 2027. The move is part of Mantra’s efforts to rebuild trust within the community. Additionally, discussions are ongoing with key ecosystem partners to burn an additional 150 million OM tokens, totaling 300 million in burned tokens. The reduction in supply will bring Mantra’s total tokens to 1.67 billion, lowering the staked tokens by over 26%. This strategic burn aims to increase staking APR by lowering the bonded ratio. The initiative is part of Mantra’s OM Token support plan, which includes a token buyback program already in progress. To increase transparency, Mantra has introduced a tokenomics dashboard to regain community trust. Despite the ongoing efforts, the OM price remains approximately 90% below its April high, trading below $0.55. For more information on the token burn and Mantra’s recovery plan, visit the official Mantra website.