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MANTRA Launches $25 Million OM Token Buyback Backed by Investors

The initiative will repurchase around 110 million OM tokens, equal to 10% of circulating supply, with execution on centralized exchanges before staking on MANTRA’s mainnet.

Summary

MANTRA announced a $25 million OM token buyback program supported by major investors. The plan covers approximately 110 million OM tokens, representing 10% of the circulating supply. The buyback will be conducted transparently through centralized exchanges. Purchased tokens will be transferred to MANTRA’s mainnet and staked.

Terms & Concepts
  • Token Buyback: A process where a project repurchases its own tokens from the market, often to support price stability or enhance token value.
  • Circulating Supply: The total number of cryptocurrency tokens available and circulating in the market, excluding locked or reserved tokens.
  • Staking: The act of locking tokens on a blockchain to support network operations such as validation, in return for rewards.