Is there a destruction mechanism for MANTRA (OM) coins?

The destruction mechanism of MANTRA (OM) coin

MANTRA (OM) coin has a destruction mechanism.

Detailed description:

MANTRA DAO has implemented a regular burning mechanism for its OM coins, aiming to increase the currency value by reducing the circulating supply. Burns typically occur at the end of a quarter, where a portion of transaction fees and token distributions are burned.

The specific operation of the burning mechanism is as follows:

• Fee burning: Every transaction of OM coins in circulation will incur a 0.25% transaction fee. 50% of these fees will be burned.
• Quarterly destruction: At the end of each quarter, MANTRA DAO will use 25% of the staking rewards and 25% of the DAO fund to destroy OM coins.

The benefits of the burning mechanism include:

• Reducing the circulating supply: Destroying OM coins will reduce the circulating supply, which may lead to an increase in currency value.
• Increasing scarcity: As circulating supply decreases, OM coins become rarer, which can attract investors and drive up demand.
• Stable currency value: The regular destruction mechanism helps stabilize the currency value of OM coins and prevent oversupply from causing price drops.

By implementing a burning mechanism, MANTRA DAO aims to maintain the value and scarcity of OM coins in the long term, thereby enhancing its utility as a utility token and governance token.

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