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According to Odaily, Mantra has issued a statement regarding the unexpected significant drop in the price of its OM token.
The statement clarifies that the Mantra team has not engaged in any selling activities. The funds of the Mantra mainnet $OM team and advisory team remain 100% locked, while the ERC-20 tokens are publicly circulating and not under team control. Currently, 77.5 million OM tokens are in circulation, with over 200,000 mainnet OM wallets.
The initial forced liquidation sales exerted downward pressure on the price, triggering automatic liquidation events on exchanges for leveraged positions using OM as collateral. #Write2Earn This led to further liquidation and collateral seizure, adding additional downward pressure. Some major OM traders were liquidated by centralized exchanges.
Mantra plans to release details of an OM Token support plan, which will include a token buyback and supply destruction strategy.
Mantra CEO John Patrick Mullin has publicly committed to destroying the tokens allocated to his team.
🧙♂️ China’s local governments are selling confiscated $BTC to fill public coffers despite trade ban. -Reuters
🧙♂️ DWF Labs announced it has established a new US office in New York and strategically purchased $25 million worth of governance tokens from the Trump family’s project World Liberty ($WLFI).
🧙♂️ Binance announced it will change its $AERGO funding rates due to high volatility.
⚠️ Note: My posts are not investment advice. There may be errors due to translation. Please do your own review. You can also write your thoughts in the comments section.
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I would like to share a real experience of participating in an event at Binance Square.
I participated in the Valentine's Day poetry event from 2/13 to 2/14, event number #CryptoLovePoems💖 . At that time, the task required tagging a friend in the comments section, but in reality, the square did not allow users to be tagged in the comments. I immediately contacted customer service, but the response I received was simply 'waiting for processing.'
It wasn't until the event was about to end that I was suddenly notified to repost, and the official team quietly modified the event description midway. In the end, my post was deemed 'ineligible.'
Although I have already identified the reason and even considered not pursuing it further, I am bringing this up again because I encountered technical issues during the recent EOS event #Vaulta , and the way customer service handled it again made me feel very uncomfortable. 😓 The problem was not resolved, and the responses were evasive and indifferent, making me feel like I was just talking to myself.
I am not speaking out for the sake of that small reward, but hope that Binance can recognize: users can tolerate platform bugs, but cannot accept inaction from customer service and the team.
Currently, senior management has proactively contacted me to assist with the situation, and I hope this time it can truly bring about some improvements so that future participants in events will not encounter the same issues.
Dear friends, good news came from the short position #RENDER that we arranged! The price just dropped to 3.569, just completing the TP2 target, and the profit reached 406.78%. Due to Lao Bao’s speech, the current market fluctuates violently. It is recommended that you set BE immediately after taking profit to ensure the safety of profit. $RENDER We will continue to pay attention to the subsequent dynamics!