MANTRA intends to destroy 300 million OM tokens, including 150 million OMs in the team token allocation

PANews April 21 news, MANTRA announced in its official blog that its CEO and founder John Patrick Mullin will destroy 150 million tokens in its token allocation for its team. This destruction move is a commitment made to the community last week, aiming to rebuild trust. Team and core contributor tokens were pledged when the main network was launched in October 2024 to activate network security. At present, the process of unstaking 150 million tokens from the token pool of team and core contributors has begun. The pledge release period will be completed on April 29, 2025. Once the process is completed, all tokens will be sent directly to the destruction address. These tokens will be permanently removed, and the total supply will be reduced by 150 million OM tokens accordingly.

In addition, MANTRA is continuing to communicate with key ecosystem partners and plans to destroy an additional 150 million OM tokens, which will bring the total destruction to 300 million OM tokens. After unbinding, the MANTRA chain will destroy 150 million OM tokens, and the total supply will be reduced from 1.82 billion OM tokens to 1.67 billion OM tokens, and the pledged tokens will be reduced from 571.8 million OM tokens to 421.8 million OM tokens. This strategic destruction will reduce the pledge rate from 31.47% to 25.30%, resulting in an increase in the annualized pledge yield. Once the destroyed transaction is executed on the blockchain and confirmed, complete verification information will be provided.