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JP Mullin
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103M burnt ERC 🕉️
The burn continues... 🔥
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JP Mullin
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To the MANTRA community, First and foremost, I want to acknowledge the impact of what happened two weeks ago. I understand many of you lost money. Some of you lost a lot of money. Your trust is everything to us, and we're working to rebuild it with a focus on doubling down on transparency, team commitment to the project, and MANTRA Chain's continued decentralization. Every day, we continue to investigate exactly what happened and develop plans to prevent similar events in the future. Next week in Dubai at TOKEN2049, I will be speaking onstage. At that time, we will also publicly provide an update with substantive next steps, including: - An announcement of new MANTRA ecosystem developments and enhanced governance protocols - Updates and status regarding the execution of the burn of my OM holdings - A call to action for the crypto industry to work together to protect investors from these kinds of liquidation events This has been humbling. And heartbreaking. We need to take a moment to regroup and make sound decisions. I promise that our team won't rest until we've made this right. I'm listening. I hear your concerns. And I'm committed to leading us through this challenging moment with total transparency. Our team has barely slept, and I want to thank them for their enormous dedication. More updates to follow. JPM 🫡🕉️
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The burn program details are in the final stages, and will be shared in the near future. Buyback program also well underway. We are working around the clock for the Sherpas/OMies. 🫡🕉️
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Over the past few days after stating I’ll burn all my teams tokens, I had a lot of feed back from community, investors, etc. The whole point is that this is meant to be for the community, so would be good to get a temperature check of people’s thoughts how to implement this.
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I'm very thankful to have long-term-minded investors who believe in what we're building at MANTRA, even during these incredibly tough times. It's refreshing to see investors actively reaching out, to extend their vesting periods to support the project for the long haul. 🫡🕉️
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Since the weekend incident, the team has worked together across departments and time zones to provide this fact-based assessment of the events. Here are the key facts and our further actions: - There were no $OM sales by the MANTRA team during this period of market distress. - Data shows a number of significant OM traders were liquidated by centralized exchanges. - We’re releasing details of an OM Token support plan that will feature both an OM Token buyback and supply burn program. - I’ve already committed to burning my team allocation (not my team’s). Comprehensive burn program details are forthcoming. - We’re building a dashboard with live balances of tokenomics buckets for additional market transparency. We are confident that further information from our centralized exchange partners will provide more clarity on these events. We invite our exchange partners to collaborate on providing more clarity on trading activities during this time. 🫡🕉️ https://www.mantrachain.io/resources/announcements/statement-of-events-13-april-2025
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