First and foremost, I want to acknowledge the impact of what happened two weeks ago. I understand many of you lost money. Some of you lost a lot of money. Your trust is everything to us, and we're working to rebuild it with a focus on doubling down on transparency, team commitment to the project, and MANTRA Chain's continued decentralization.
Every day, we continue to investigate exactly what happened and develop plans to prevent similar events in the future.
Next week in Dubai at TOKEN2049, I will be speaking onstage. At that time, we will also publicly provide an update with substantive next steps, including:
- An announcement of new MANTRA ecosystem developments and enhanced governance protocols
- Updates and status regarding the execution of the burn of my OM holdings
- A call to action for the crypto industry to work together to protect investors from these kinds of liquidation events
This has been humbling. And heartbreaking. We need to take a moment to regroup and make sound decisions. I promise that our team won't rest until we've made this right.
I'm listening. I hear your concerns. And I'm committed to leading us through this challenging moment with total transparency. Our team has barely slept, and I want to thank them for their enormous dedication.
$OM Major Move by #MANTRA ❗ 😱JP Mullin, CEO & Founder of MANTRA, just made a game-changing announcement: he’s burning his entire 150 million $OM token allocation — permanently. This bold move follows a recent promise to the community, aiming to rebuild trust and demonstrate the team's long-term commitment. Here’s the breakdown: ➡️ The 150M tokens came from the Team & Core Contributor pool and were originally staked during MANTRA’s mainnet launch in October 2024. ➡️ Unstaking began today and will be completed by April 29, 2025. ➡️ Once unstaked, every token will be sent to a burn address — gone forever. And that’s not all — MANTRA is collaborating with partners to potentially burn another 150 million $OM. If successful, a total of 300 million OM will be eliminated from the supply. Whether this shifts market sentiment remains to be seen, but it’s undoubtedly a bold and symbolic step forward. DYOR. #TokenBurn #CryptoNews #MarketRebound