MANTRA CEO will destroy its allocated 150 million OM tokens

Foresight News reported that MANTRA announced that its CEO and founder John Patrick Mullin will destroy the 150 million team tokens allocated to him. This destruction was a commitment made by MANTRA to the community last week. The team and core contributor tokens will be pledged at the time of mainnet creation in October 2024 to ensure network security. At present, the redemption process for 150 million tokens in the team and core contributor token pool has been initiated. The pledge release period will be completed on April 29, 2025. Once this process is completed, the token will be directly sent to the destruction address. This destruction will reduce the total supply from 1.82 billion OM to 1.67 billion OM, while the pledged tokens will decrease from 571.8 million OM to 421.8 million OM. In addition, MANTRA is in ongoing dialogue with major ecosystem partners to implement an additional 150 million OM token destruction, which will bring the total destruction amount to 300 million OM.