Stuff You Probably Didn’t Ask But Should Know:
- Mantra’s founder, John Patrick Mullin, is basically throwing $80 million into a digital bonfire by burning 150 million OM tokens. 🤑🔥 Because nothing says “trust me” like setting your own money on fire.
- This whole torch-and-burn fest comes right after OM’s value did a nosedive worthy of an Olympic dive team—90% crash. Apparently, exchanges playing liquidation roulette had a hand in that thrilling plunge.
- Price supposedly going up? Nah. OM fell another 3.3% even after the burn. Investors? Yeah, they’re considering a group therapy session.
Here’s the scoop: Mantra’s token OM went from “to the moon!” to “Houston, we have a problem” in days, wiping out over $5 billion faster than you can say “blockchain.” Now, the team’s hoping that turning 16.5% of these tokens to ashes will somehow juice up staking rewards enough to bring believers back. Spoiler alert: Investors aren’t exactly throwing a parade.
The plan? Burn 300 million tokens. That’s roughly one-sixth of their total 1.8 billion supply—kind of like Marie Kondo-ing your crypto closet. Of those, 150 million come straight from Mullin’s stash, which were locked up since the network’s grand debut in October 2024.
Unstaking those tokens to burn them sounds like a tedious breakup—and it’s scheduled to finish right before May Day. Because nothing screams “celebrate workers” like incinerating your assets.
As for what caused the meltdown, Mantra blames “reckless liquidations” by exchanges. Translation: some folks hit the panic button faster than you can check your portfolio balance.
Mantra’s whole deal is tokenizing “real-world assets” —think real estate and stuff you can actually touch, except now it’s digital, compliant, and very ~2024~. Their shiny OM token is like the magic ticket for paying and voting in their ecosystem, which makes this crash feel like a bad episode of a reality show where the prize went up in smoke.
Earlier this year, Mantra cozied up with DAMAC Group in the UAE to tokenize a billion bucks in properties and other real assets, giving the OM token a brief moment in the sun with a 400% price surge. Unfortunately, crypto fame is fickle, and the glow didn’t last.
Now? Despite the flashy token torching ceremony, OM’s price still stumbled 3.3% in 24 hours. Investor confidence must be taking one looong coffee break. ☕️
Read More
- Clash Royale Best Boss Bandit Champion decks
- Mobile Legends November 2025 Leaks: Upcoming new heroes, skins, events and more
- PUBG Mobile or BGMI A16 Royale Pass Leaks: Upcoming skins and rewards
- The John Wick spinoff ‘Ballerina’ slays with style, but its dialogue has two left feet
- Clash Royale Season 77 “When Hogs Fly” November 2025 Update and Balance Changes
- Kingdom Rush Battles Tower Tier List
- Vampire’s Fall 2 redeem codes and how to use them (June 2025)
- Delta Force Best Settings and Sensitivity Guide
- ‘Australia’s Most Sexually Active Woman’ Annie Knight reveals her shock plans for the future – after being hospitalised for sleeping with 583 men in a single day
- Resonance Solstice Character Tier List
2025-04-22 11:21