After the sharp drop in $OM 's value, Mantra co-founder and CEO John Patrick Mullin is taking steps to rebuild investor trust through a controlled close program and enhanced transparency initiatives.
Mullin announced that details of the managed close process for the OM token will be released soon. He also confirmed that token buyback operations are ongoing at a fast pace.
Recently, $OM plummeted by 0.37, losing over 90% in value within just 24 hours. Following approximately $5 billion in forced liquidations, the token briefly rebounded before declining again. Mullin clarified that neither he nor his team sold any tokens during the extreme price fluctuations.
An internal investigation report, published on April 16, revealed that the primary cause of the collapse was systematic forced liquidations during low-volume trading periods.
To help restore investor confidence, the Mantra team plans to launch a transparent dashboard where users can track token supply, lockups, and transaction data in real-time.
Additionally, a portion of the 300 million OM tokens—representing 17% of total supply and originally reserved for contributors—will be allocated to the community and permanently burned. These tokens, once worth $1.8 billion, are now valued at roughly $200 million.
CEO Mullin committed to personally supporting the recovery, stating, "I also undertake to burn my personal token allocation."
#TrumpVsPowel well #MetaplanetBTCPurchas hase #Binance #BinanceLeadsQ1
