Mantra CEO Pledges to Burn His Own Tokens After OM Price Crash

In Brief:

Mantra CEO proposes to destroy his OM allocation to rebuild investor trust.

Community may vote to reinstate tokens if the project recovers.

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After OM’s sudden price crash triggered by forced liquidations on centralized exchanges, Mantra CEO John Patrick Mullin has publicly offered to destroy his own future OM token allocation to restore investor confidence.

Mullin’s holdings are part of the 300 million OM tokens set aside for the team, scheduled to unlock by April 2027. He currently holds roughly 772,000 OM—less than 1% of the token’s circulating supply—and has staked these via the Fluxtra PoS protocol.

In his April 15 post on X, Mullin said he would burn his personal allocation and leave it up to the community to decide whether he should receive any of it back if the protocol recovers.

While he did not disclose the exact number of tokens to be burned, he pledged to share the full breakdown once the destruction plan is finalized.

The move follows intense criticism and speculation after OM’s price plunged more than 70%, with Mantra blaming reckless CEX liquidations during low-liquidity trading hours.

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