MANTRA's Bold Move: Burning 150 Million OM Tokens to Rebuild Trust!

Holy crypto comeback, Batman! DeFi mavericks MANTRA are not messing around. They've kicked off a fiery token burn, torching a whopping 150 million OM tokens straight from their team and core contributor stash. The unstaking? Already in full swing, set to wrap up by April 29. After that, it's straight to the burn address – poof! Those tokens are outta here for good.

This isn't just a flashy move. MANTRA's on a mission to win back the community's trust and beef up their platform's econ after a brutal 90%+ nosedive in mid-April. Talk about a comeback story!

Remember those tokens? Staked back at the October 2024 mainnet launch to supercharge network security. Now, they're hitting the incinerator, slashing MANTRA's (OM) total token supply from 1.82 billion to a leaner 1.67 billion OM. Boom!

Get this: the staked token count's dropping from 571.8 million to 421.8 million OM, sending the bonded ratio tumbling from 31.47% to 25.30%. And you know what that means? Buckle up for some sweet, sweet on-chain staking rewards!

300 Million Total Tokens Up in Flames?

Hold onto your hats, crypto fans! MANTRA's fearless leader, John Patrick Mullin, is diving into the burn pit too. He's torching his entire 150 million OM stash, just days after promising to ditch all team-held tokens. This guy's not playing around!

But wait, there's more! MANTRA's not stopping at 150 million. They're in deep talks with ecosystem partners to burn another 150 million OM. If they pull it off, we're looking at a scorching 300 million OM going up in smoke. Now that's what I call a crypto bonfire!

Want to watch the drama unfold? You can track the burn live on-chain, thanks to MANTRA's transaction hashes. Once it's all said and done, they'll spill the beans on the full burn details. Transparency? You betcha!