I have found official statement from OM team. . don't believe the roumers..
John Mullin, CEO of MANTRA, addressed community concerns following the sharp decline in OM's value. He emphasized that the recovery of the OM token is a top priority for the team. Mullin mentioned that they are in the early stages of developing a potential token repurchase plan, though specific details are still being finalized. He also denied allegations that major investors sold OM tokens and refuted claims that the team controls 90% of the token supply, directing the public to Etherscan records for verification.
Denial of Insider Selling Allegations
In an AMA hosted by Cointelegraph, Mullin categorically denied reports suggesting insider sales by investors like Laser Digital prior to the crash. He stated that neither the MANTRA association, key investors, nor advisers sold tokens during the downturn and promised to provide verifiable on-chain proof to support this claim.
Market Reaction and Speculation
The sudden crash led to allegations of a potential "rug pull," with some analysts suggesting that the MANTRA team, which controls a significant portion of OM's supply, may have sold off their holdings. However, MANTRA has denied these claims, stating that neither the team nor key investors sold tokens during the crash .
Current Status
As of now, OM is trading at approximately $0.62, with a market capitalization of around $600 million . The MANTRA team has committed to conducting a thorough investigation and will publish a detailed post-mortem once all facts are clear .
CoinGecko
The MANTRA team has committed to conducting a thorough investigation and will publish a detailed post-mortem once all facts are clear. They have also released a community transparency report to address ongoing concerns.