John Patrick Mullin, the CEO of Mantra, has commenced the process of unstaking and burning 150 million OM tokens to enhance the token's value by reducing supply. The burn, set to complete by April 29, will lower the total OM supply to 1.67 billion and decrease staked tokens by over 26%. Furthermore, discussions are ongoing with key ecosystem partners regarding an additional burn of 150 million OM tokens, which would bring the total to 300 million. This token burn initiative follows a substantial price drop of the OM token and is part of a broader plan to restore community confidence, which also includes a buyback program. The OM price has fallen approximately 90% from $6.30, trading at under $0.55 at the report's time.

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