📉 MANTRA Launches Investigation into OM Token’s 92% Price Drop – What’s Next?
MANTRA has launched an analysis of the OM token’s sharp 92% decline on April 13th, which sparked significant concern among the token’s community. The sudden drop, occurring around 18:28 UTC, caught token holders off guard and raised alarms due to its unprecedented nature. In response, the MANTRA team initiated an investigation to determine the underlying causes of the price movement and to confirm the current circulating supply of OM tokens. This effort aims to address community concerns and reinforce the market’s future stability.
💬 In response to the significant and unexpected downward price action experienced by the $OM token earlier this week, our team has compiled this fact-based assessment. It addresses our community’s questions and outlines measures to strengthen market resilience.Our investigation… — MANTRA | Tokenizing RWAs (@MANTRA_Chain) April 16, 2025
🔸 ERC-20 Token Circulation
However, the report revealed that the MANTRA team was unable to make any sales during the market aggregate shock. All Mainnet OM tokens allocated to the team and advisors remain locked. The losses were associated with the ERC-20 OM tokens, which were fully distributed and in public circulation.
Specifically, the total supply of classic ERC-20 tokens was distributed amongst the users, with 99.995% of tokens circulating within more than 123,000 wallets by 15 April. These tokens were initiated in August 2020, and hence, they are fully liquid and tradeable, which means that the trading activity was by external holders and broader market dynamics, and not by the MANTRA team.
In October 2024, with the launch of MANTRA Chain, a new supply of 888.88 million OM tokens was minted on the native blockchain. Of the total token supply, 77.5 million OM tokens are currently in circulation, representing a substantial share of the overall supply.