{"id":22310,"date":"2025-04-16T09:17:02","date_gmt":"2025-04-16T09:17:02","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22310"},"modified":"2025-04-16T09:17:02","modified_gmt":"2025-04-16T09:17:02","slug":"mantra-ceo-vows-to-burn-team-tokens-after-om-token-collapse-to-earn-back-community-trust","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22310","title":{"rendered":"Mantra CEO Vows To Burn Team Tokens After OM Token Collapse To Earn Back Community Trust"},"content":{"rendered":"
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John Mullin, CEO of blockchain project Mantra, has pledged to burn the team\u2019s entire token allocation in a bid to regain the community\u2019s trust following the sharp collapse of the Mantra (OM) token on April 13. <\/span><\/p>\n

In a <\/span>statement posted to X<\/span><\/a> on April 16, Mullin said, \u201cI\u2019m planning to burn all of my team tokens, and when we turn it around, the community and investors can decide if I have earned it back.\u201d<\/span><\/p>\n

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Mantra Reserved 300 Million OM Tokens for Team and Core Contributors<\/span><\/h2>\n

Mantra had previously allocated 300 million OM tokens\u2014roughly 16.88% of its total supply of nearly 1.78 billion\u2014for its team and core contributors.<\/span><\/p>\n

These tokens, valued at approximately $236 million based on OM\u2019s current price of $0.78, were originally locked and scheduled for release between April 2027 and October 2029. <\/span>Prior to<\/span> the crash, their value was estimated at $1.89 billion.<\/span><\/p>\n

OM\u2019s price plummeted from around $6.30 to as low as $0.52, wiping over $5.5 billion in market value, according to CoinGecko.<\/span><\/p>\n

While some in the community praised Mullin\u2019s move as a bold gesture of accountability, others expressed concern it might weaken the team\u2019s long-term incentive to build the real-world asset tokenization platform.<\/span><\/p>\n

Crypto Banter founder Ran Neuner criticized the decision, stating, \u201cBurning the incentive may seem like a good gesture but it will hurt the team motivation long term.\u201d <\/span><\/p>\n

Mullin has suggested that a decentralized community vote could ultimately decide the fate of the 300 million team tokens.<\/span><\/p>\n

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This would be a mistake. We want teams that are highly incentivized. Burning the incentive may seem like a good gesture but it will hurt the team motivation long term.<\/p>\n

My suggestion;<\/p>\n

Just keep building.<\/p>\n

\u2014 Ran Neuner (@cryptomanran) April 15, 2025<\/a><\/p>\n<\/blockquote>\n