According to Foresight News, MANTRA announced that its CEO and founder John Patrick Mullin will destroy 150 million team tokens allocated to him. This destruction is a promise made by MANTRA to the community last week. Team and core contributor tokens will be staked during the mainnet genesis in October 2024 to ensure network security. Currently, the redemption process for 150 million tokens in the team and core contributor token pool has been initiated. The unstaking period will be completed on April 29, 2025. Once this process is complete, the tokens will be directly sent to the destruction address. This destruction will reduce the total supply from 1.82 billion OM to 1.67 billion OM, while staked tokens will decrease from 571.8 million OM to 421.8 million OM.
Additionally, MANTRA is engaged in ongoing discussions with major ecosystem partners to implement an additional 150 million OM token destruction, which would bring the total destruction to 300 million OM.
