Mantra CEO Burns 150M Tokens Following 90% Price Crash
Mantra CEO burns 150 million OM tokens to restore trust and value after 90% price crash, with plans for additional burns totaling 300 million tokens.

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Mantra CEO burns 150 million OM tokens to restore trust and value after 90% price crash, with plans for additional burns totaling 300 million tokens.
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Mantra, the platform specialized in tokenization of real-world assets (RWA), has announced a burn of 300 million OM tokens, equivalent to approximately 16.5% of the total supply, with an estimated value of 160 million dollars. This decision comes at a critical time for the platform, which has seen its token lose 90% of its value in just one day, April 13, with a market capitalization evaporated by over 5 billion dollars. According to the Mantra team, the main cause of the collapse is attributed to irresponsible liquidations by the exchanges, which triggered a bear spiral.