MANTRA Announces $25 Million OM Token Buyback Program

MANTRA, a blockchain platform specializing in tokenized real-world assets (RWAs), has unveiled a strategic buyback program for its OM tokens. The initiative, backed by a $25 million minimum funding commitment, marks the first tranche of buybacks aimed at bolstering the ecosystem and demonstrating confidence in the token's long-term value. This announcement follows a $20 million investment from Inveniam, bringing total commitments to $45 million.

The buyback program will be executed transparently over several months, with recurring purchases at or near current market prices on centralized exchange venues. Independent trading firms will handle the transactions, and all repurchased tokens will be withdrawn from exchanges and staked on the MANTRA Chain mainnet. Progress updates will be shared via MANTRA's official X account, and the wallets storing repurchased tokens will be published for public viewing.

John Patrick Mullin, CEO and Founder of MANTRA, described the buyback as a pivotal moment for the company, emphasizing its role in reinforcing stakeholder confidence and returning value to token holders. At current market prices, the program could account for approximately 10% of OM's circulating supply, equivalent to 110 million tokens.

MANTRA Chain, headquartered in Zug, Switzerland, is a Layer 1 blockchain designed for tokenized RWAs. The platform offers compliance mechanisms and cross-chain interoperability, making it a key player in the evolving RWA tokenization space. It is licensed by Dubai’s Virtual Assets Regulatory Authority (VARA) to operate as a Virtual Asset Exchange and provide broker-dealer services.

The announcement aligns with similar trends in the crypto industry, such as MultiBank Group's recent buyback and burn initiative for its MBG token, which followed a $209 million revenue report. These moves highlight a growing focus on buybacks as a strategy to enhance token value and investor trust.