Mantra: The team has not had any sell-offs, and the OM token support plan will be released soon

2025-04-16 11:51:27

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Odaily Planet Daily News Mantra issued a statement on the event of a large and unexpected drop in the price of the OM token, which pointed out that the MANTRA team did not have any sell-off. 100% of the funds of the MANTRA mainnet OM team and advisory team are still locked, ERC-20 tokens are in public circulation, not controlled by the team, and currently, there are 77.5 million OM tokens in circulation, and the number of mainnet OM wallets exceeds 200,000. The initial liquidation sell-off created downward pressure on the price, and the resulting price decline triggered the auto-liquidation of leveraged positions collateralized by various exchanges, followed by liquidation and collateral seizure, which created additional downward selling pressure and liquidated a number of important OM traders by centralized exchanges. MANTRA will release details of its OM token support program, which will contain an OM token buyback and supply burn program, and MANTRA CEO John Patrick Mullin has publicly committed to burning the tokens allocated by his team.

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