Counting the Five Sins of OM:

Sin One: Fraud from the Start! Airdrop rules modified multiple times:

Rule Modification 1.0: Changed from "20% immediately unlocked" to "0.3% unlocked daily after a 1-month cliff period", which actually means that "immediately" is just the start of a 1-month countdown, and the cliff period suggests that users may face sell-off pressure after one month.

Rule Modification 2.0: Further upgraded to "10% claimable on March 2025, vesting period extended to 2027", meaning users will take 1000 days to fully claim.

Conspiracy Theory 3.0: Key governance proposal voting rate at 0.7%, with 99.3% of votes coming from 5 associated addresses (Snapshot data).

Moreover, during the airdrop period, there were no large-scale airdrop distribution records on-chain.

Multiple adjustments to token economics, roadmap, unlocking schedule, and distribution ratio occurred during the TGE period, showing that the project side acted solely for its own profit, ignoring the community.

Sin Two: Self-serving operations are fully documented on-chain, yet they still shift blame.

- On March 25, withdrew 40 million OM from Binance (cost ≈ 0.8U).

- On April 1, unstaked 776,000 OM (accounting for 61% of total unlocking on that day).

- On April 2, transferred 20 million OM to OKX (average price 5.2U), realizing a paper profit of 88 million USD.

- Institutions like Laser Digital transferred 3.4 million OM to CEX 3 days in advance.

Within 24 hours of transferring to CEX, the price of OM dropped by 89% (Arkham monitoring alert), draining CEX liquidity while condemning manipulation, playing both sides!

Sin Three: Token economics are rotten to the core, every step shows they are the major operator, with 90% of chips concentrated in the hands of the project party.

In on-chain traceable addresses, 792 million OM (accounting for 90% of total supply) is stored in a single wallet (Arkham label: MANTRA Core Team).

The real circulating supply is only 88 million OM, with FDV inflated to $5.5 billion, holding 90% of the chips while treating retail investors like puppets—abominable!

Sin Four: Derivatives chain reaction, algorithmic market makers are also unreliable.

OM weight only accounts for 1% of the BTCDOM index, but algorithmic misjudgment caused the BTCDOM index to spike by 20%. During the crash, the funding rate touched -2.3% per hour; shorts had to pay but were still liquidated.

AI risk control market maker algorithms saw OM plummet and panicked, pushing BTCDOM up by 20%. Once the chain reaction occurred, it brought down multiple systems by their own power—Exchange + AI + RWA!

The most hurt are retail investors.