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J.P. Mullin’s OM token burn has triggered major waves in the MANTRA ecosystem and crypto gaming space.
Following community outrage after OM’s 90% price crash on April 13, MANTRA CEO John Patrick Mullin burned his entire 150 million OM token allocation. This bold move aims to rebuild trust and show transparency after what many called one of the project’s most chaotic weeks.
The burn, which permanently removes the tokens from circulation, will cut OM’s total supply significantly. The burned tokens had been staked since MANTRA Chain’s October 2024 mainnet launch and were initially used to secure the network.
A second 150 million token burn, currently under discussion with ecosystem partners, would reduce the supply even further—from 1.82 billion to just 1.52 billion OM. This is a serious shift in the project’s tokenomics and a strong signal that MANTRA is going deflationary.
Tokenomics Shift and APR Boost
With the J.P. Mullin OM token burn reducing staked tokens from 571.8 million to 421.8 million, staking rewards are set to rise.
The chain’s bonded ratio will fall from 31.47% to 25.30%. That decrease means higher annual percentage rates (APRs) for stakers on MANTRA Chain. For long-term holders and play-to-earn participants, this represents a major incentive boost.
A complete burn verification report will be released once the final transaction hits the blockchain. The process has already been made publicly transparent with on-chain transaction hashes.
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J.P. Mullin’s OM token burn sends a strong signal
The burn comes after allegations of insider selling and a $40 million OM token dump into OKXClick here for more Details by a wallet reportedly tied to the team. The event caused OM to crash over 90% in one hour, sparking mass liquidations and accusations of betrayal from the community.
This backlash forced MANTRA to take immediate action. Mullin’s token burn, now confirmed, was designed to counter these accusations and bring the project back to its decentralization-first mission.
