Mantra CEO, John Mullin, recently announced a proposal to burn 300 million OM tokens designated for the team. Mantra crypto price followed this with a 30% surge.
While the token was trading at $0.78 at the time, it has since seen a decrease. At the time of writing OM token was valued at 0.65.
The CEO’s decision followed a drastic crash in the price of the token, which saw its value plummet from $6.30 to $0.52 in a matter of hours on April 13, 2025.
As a result, the company is now in the spotlight, with many wondering if this recovery plan will be enough to bring OM token back to $1, or even higher.
Mantra CEO’s Token Burn Proposal
The flash crash of Mantra’s OM token erased over $5.4 billion in its market capitalization.
This sharp decline forced the CEO to look for a way to regain the community’s trust. To do this, he proposed burning the total token allocation of 300 million Mantra (OM) crypto tokens.
These tokens constitute 16.88 % of the total cap and were formally locked between 2027 and 2029.
However, Mullin now wants to eliminate them completely as his strategy to regain the investors’ trust. On X, Mullin revealed his intention to burn these tokens.
“I AM GOING TO BURN ALL THE TOKENS BELONGING TO MY TEAM AND AS SOON AS WE TURN IT AROUND, THE COMMUNITY/ INVESTORS THEMSELVES CAN NOW DECIDE IF I HAVEN’T EARNED IT BACK.”
This gesture has attracted both positive and negative sentiments from the public. Some commended the move as a noble one, while some opined that it will demoralize the team.
The Mantra team also unveiled that there would be a decentralized vote. And after, they would vote to demand the returned tokens once the project gains power again.
Although the decision has drawn negative response, the action is viewed as a bid to recapture some lost ground and assert authority.
Mixed Reactions to the Burn Plan
Many community members have expressed support for Mullin’s decision to burn the Mantra team’s crypto tokens.
Trader Ran Neuner warned that burning the team’s incentive could demoralize the project’s developers. “We want teams that are highly incentivized,” Neuner argued, adding,
“BURNING THE INCENTIVE MAY SEEM LIKE A GOOD GESTURE, BUT IT WILL HURT THE TEAM MOTIVATION LONG TERM.”
Another community member, Bonnke4life, echoed these concerns. They suggested that the project should consider reworking the token vesting schedules and exploring structured buybacks to enhance transparency rather than burning the team’s tokens entirely.
According to this view, such adjustments could achieve the desired outcomes without sacrificing the development team’s motivation.
Despite these differing opinions, Mullin has emphasized that the burn plan is part of a broader effort to stabilize the Mantra crypto token and rebuild the project.
This includes a $109 million ecosystem fund that will be used to manage controlled token burns and buybacks, alongside a post-mortem of the crash on April 13.
Technical Analysis: Will Mantra Crypto Price Reach $1?
As of now, Mantra crypto is trading around $0.78, showing a 30% price increase over the past 24 hours.
Popular crypto analyst Dom’s Crypto has highlighted a bullish pattern on the OM price chart, pointing out a formation of a “bullish pennant” that suggests a potential upward breakout.
According to Dom, if OM can break past the $1.20 mark, the price could surge to $3.50, marking a potential 500% rally from the current price.
While the technical chart shows positive signs, the success of this price movement will largely depend on the implementation of the proposed recovery plans.
The market’s reaction to the community vote on the token burn and other measures will likely play a significant role in determining the future price action of OM.
