Real ones stand up when stuff hits the fan.
John Patrick Mullin, founder of MANTRA, is doing just that — burning 150 million OM tokens (worth ~$82M) after the token crashed over 90% in a few hours, nuking $5B in market cap on April 13.
MANTRA Boss to Burn $82M in OM After $5B Meltdown
The burn on Mantra, happening April 29 after unstaking, is his way of saying: “We’re still building. We still care.” Mullin posted the announcement on X and said this move shows his “unwavering focus” on restoring faith in the ecosystem.
Token burns = supply goes down = maybe price goes up? That’s the hope.
And it doesn’t stop there — MANTRA’s talking with partners about doubling the burn to 300M OM, which would be 16.5% of the total supply.
He also made it very clear:
“There were no OM sales by the team during the crash.”
So yeah, they’re trying to clear the air.
A poll he posted on X got 81% YES from 8K+ votes to go full burn mode 🔥
Despite the big gesture, OM’s price only popped for a sec and is still down 4% today. But hey, sometimes it’s the comeback story that hits hardest.
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