As of May 2025, the status of Mantra (OM) coin is contentious, with significant developments affecting its viability.

🔻 April 2025 Price Collapse

On April 13, 2025, OM's price plummeted by over 90%, dropping from approximately $6.30 to below $0.50 within an hour, erasing nearly $6 billion in market capitalization. The Mantra team attributed this crash to "reckless liquidations" on an unnamed exchange, denying any insider misconduct and stating that team-held tokens remained locked.

🏗️ Project Developments

Despite the turmoil, Mantra has pursued strategic initiatives:

Partnership with DAMAC: In January 2025, Mantra entered a $1 billion deal with Dubai-based DAMAC Group to tokenize assets like real estate and data centers.

Regulatory Licensing: Mantra obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), enabling it to operate as a regulated digital asset service provider in the UAE.

RWAccelerator Program: Launched in February 2025, this program supports startups focused on real-world asset tokenization.

⚠️ Community Concerns

However, several issues have raised red flags:

Unfulfilled Promises: Claims from four years ago about launched prototypes and significant total value locked (TVL) have not materialized.

User Complaints: Reports have emerged of exorbitant fees, with one user stating that withdrawing $1,000 from staking incurred $2,700 in costs.

Low Engagement: Despite a large follower count on social media, the project's posts receive minimal interaction, suggesting low community engagement.

🔍 Conclusion

While Mantra is not a defunct project, the April 2025 price crash and subsequent controversies have significantly impacted its credibility. The team continues to pursue strategic initiatives, particularly in the UAE, but unresolved issues and community concerns persist. Potential investors should exercise caution and conduct thorough research before engaging with OM.

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