Following a 90% drop in Mantra’s token (OM) value, its CEO, John Patrick Mullin, took a bold step to restore community trust. He pledged to burn all allocated team tokens worth hundreds of millions of dollars. This move came after a major liquidation that shook the ecosystem. Mullin denied allegations of internal dumping and manipulation, explaining that 300 million OM tokens are locked by the team at least until April 2027. He also announced plans to permanently burn their entire allocation, including 772,000 OM tokens. Mullin promised more transparency, detailed reports post-incident, and a long-term token buyback program. Following this announcement, OM surged over 31% in the past 24 hours and is now trading around $0.7772, indicating an initial positive market response.
