Mantra’s distinctive symbol will reduce om supply by 150 million symbols

Mantra CEO and founder John Patrick Moulin announced plans to burn his allocation of 150 million teams.

This decision is fulfilled by a commitment that was clarified last week only, which sought to show a dedication to the creation of a transparent, reliable and comprehensive financial environmental system through the distinctive symbol.

Distinguished symbol burns

The distinctive symbols of the Mainnet launch of the Mantra series in October 2024 were initially booked to ensure the safety of the network. Now, and practical From the lack of renting these 150 million people, the burnt scheduled to be completed by April 29. Once they are separated and sent to the burning title, it will be removed permanently from the blood circulation. The process will reduce the total om supply from 1.82 billion to 1.67 billion.

Burning is expected to have a noticeable effect on the ecosystem, especially on the metric scales. The decrease in the total supply will lead to a decrease in the amount of metal currencies from 571.8 million amp to 421.8 million US dollars, which reduces the percentage of worshipers from 31.47 % to 25.3 %.

This is likely to lead to a high annual percentage percentage rate (APR) for Stakeeers, where fewer symbols will be imprisoned, making interest more attractive to my holders. In addition, Mantra holds talks with the main ecological system partners to carry out an additional burning of 150 million om symbols, up to the total amount to 300 million om.

Moulin had previously pledged to burn all the symbols of his team to restore confidence in the project, a decision that was raised by the large price collapse of OM on April 13. Distinctive symbols of 300 million om are for the team and the basic shareholders represent 16.88 % of their total supplies and were initially detained with a release schedule that extends from 2027 to 2029.

Om price collapse

The price of om has collapsed earlier this month when Benefit Merchants were arrested in the liquidity crisis. With the borrowing of many OM holders to amplify their trading, a decline in the price of om led to automatic liquidation on platforms such as Bybit and Binance.

This flood of distinctive symbols in the market has exacerbated prices. The talisman was already under check. The critics were even Arise Warnings about her governance and misleading investment demands, including a communication To the FTX exchange now.

Before the collapse, large quantities of om were transferred to Binance and OKX, which hinted to deliberate sale. Low market liquidity in the market had closed the fate of OM-there was not enough buyers to compensate for the sale, which leads to a sharp decline in prices. While some investors, including Laser Digital and Shorooq Partners, were associated with the main main governor, they denied any violations of collapse.