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🤔 Shorooq on the collapse of token #OM (one of the investors in Mantra) – statement

◽️On April 13, the OM token plummeted by ~90% in just a few hours due to the forced liquidation of large leveraged positions where OM was used as collateral.

◽️No hacking or fraud was recorded – it was a market reaction complicated by low liquidity.

◽️The Mantra team is conducting an investigation and will publish an analysis of the incident.

◽️Shorooq invested in shares of Mantra, not just tokens, and believes in the long-term potential of the project in the field of tokenization of real-world assets (RWA).

◽️Shorooq and the Mantra team did not sell OM: except for a test sale in March (no sales before or during the token's collapse).

◽️The majority of tokens owned by Shorooq are locked according to a vesting schedule.

❗️Community opinion on Twitter:

◽️The situation with OM has begun to be compared to the collapse of LUNA.

◽️The Mantra team is manipulating the market: the tokenomics changed without warning, the airdrop for the community has been postponed, and 90% of the OM token supply is controlled by insiders.

◽️Over-the-counter transactions + market maker manipulations are exacerbating the situation.