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Mantra’s CEO, John Patrick Mullin, has announced a drastic measure to restore investor confidence by burning 300 million OM tokens originally allocated to the team. The move comes after a sharp 90% price drop in OM tokens, sparking panic and suspicion. The Ecosystem Fund will also be used for buybacks and burns to stabilize the token’s value.
- Mantra CEO burns 300M OM tokens (16.88% of supply) to address investor concerns after a 90% price crash.
- The $109M Ecosystem Fund will be repurposed for buybacks and burns to stabilize OM's tokenomics.
- Laser Digital, accused of dumping OM tokens, denied involvement and shared wallet addresses for transparency.
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