MANTRA issued a statement on the OM crash: the team did not sell, and planned to start the buyback and burn mechanism

BlockBeats News, on April 16, MANTRA issued a statement on the OM crash event, saying that the MANTRA team is currently operating normally and promised to take all necessary measures to deal with the current market turmoil. During the OM crash, the MANTRA team did not make any sell-offs, and the token quota of the MANTRA mainnet OM team and the advisory team were all locked. MANTRA is currently known to have a large number of OM tokens transferred to trading platforms and used as collateral. BASED ON MANTRA’S REVIEW OF INDEPENDENT OBSERVATIONS OF EVENTS, IT CAN BE CONFIRMED THAT DURING PERIODS OF LOW MARKET ACTIVITY (AROUND 2 A.M. HONG KONG TIME MONDAY), LIQUIDATIONS OCCURRED AND THESE LIQUIDATIONS CAUSED UNDUE SELLING PRESSURE ON THE OM TOKEN MARKET. MANTRA WILL RELEASE DETAILS OF ITS OM TOKEN SUPPORT PROGRAM, WHICH WILL INCLUDE AN OM TOKEN BUYBACK AND SUPPLY BURN PROGRAM. MANTRA CEO John Patrick Mullin has publicly pledged to burn the funds allocated by his team.