Mantra recently addressed the unexpected and significant decline in the value of its OM token, as reported by Odaily. The team clarified that no selling activities had been undertaken by the Mantra team itself. It was also confirmed that the mainnet OM team and advisory team funds are fully locked, while ERC-20 tokens remain in public circulation and are not under the team's control. Currently, 77.5 million OM tokens are in circulation, distributed across more than 200,000 mainnet OM wallets.

The price drop was initially caused by forced liquidation sales, which created downward pressure. This triggered further liquidation events on exchanges where OM was used as collateral for leveraged positions, intensifying the decline due to collateral seizure. Additionally, some prominent OM traders experienced liquidation on centralized exchanges.

Mantra plans to introduce an OM Token support strategy, involving a token buyback and supply reduction. CEO John Patrick Mullin has also pledged to destroy the tokens allocated to his team.