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MANTRA Announces $25 Million OM Token Buyback, Representing Approximately 10% of Circulating Supply
BlockBeats News, August 27th, MANTRA officially announced a $25 million OM token buyback, with the support of major investors and stakeholders. Coupled with Inveniam's previous $20 million investment, the total committed funds have reached $45 million.
The buyback plan will be executed by MANTRA AG, conducting a transparent buyback over several months through multiple centralized exchanges at a price close to market price. The repurchased OM tokens will be withdrawn from the exchange as ERC20 tokens, then transferred to the MANTRA mainnet and staked to validator nodes. Based on the current price, the buyback plan involves approximately 110 million OM tokens, representing around 10% of the circulating supply.
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