John Mulllin, CEO of Mantra, said he planned to burn all of the tokens of his team with a purpose to regain the boldness of the network of the network after the sudden collapse of the Mantra (OM) token on April thirteenth.
“I plan to burn all of my team token and after we turn it across the community and investors determine whether I deserve it again,” wrote Mullin on April 16 at X.
Mantra made 300 million OM, 16.88% of the whole offer of the token almost 1.78 billion, for his team and core contributions. They are currently closed and, in line with a blog post of April 8, between April 2027 and October 2029, needs to be regularly published.
The team's tokens have a worth of around 236 million US dollars. OM currently was currently around 78 cents, but was around 1.89 billion dollars before the token dropped on April 13.
Source: JP Mullin
Many parishioners welcomed Mulllins promise, but others saw the token as a possible blow for the long-term commitment of the team for the establishment of the Real-World Asset tokenization platform.
“This can be a mistake. We want teams which are stimulated. The burning of the motivation could seem a great gesture, however the team motivation will affect the long -term,” said the founding father of Crypto Banter Ran Neuner.
Mullin suggested that a decentralized voice could determine whether the 300 million team tokens needs to be burned.
Mantra Recovery Process is already underway
Mullin promised a post-mortem declaration wherein it was explained what went incorrect to be transparent with the community.
In conversation with CoinTelegraph on April 14th, Mullin plans outlined the 109 million dollar -Mantra -Mantra -Mantra -Mantra -ManRTRA Founds for potential token purchases and burns to stabilize the value of om from $ 6.30 to $ 0.52.
Mullin's company has strongly refuted the rumors that 90% of the OM -token offer and deals with insider trade and market manipulation.
Mantra claims that the OM -Prize -Implosion was triggered by “ruthless liquidations”, and added that it was not related to the measures carried out by the team.
Okx and Binance were among the many crypto exchanges that saw considerable OM activities shortly before the collapse of the OM activity.
Both stock exchanges contested any misconduct that collapse to changes to OM-tokenomik in October and the bizarre volatility, which ultimately triggered high-volume cross exchange liquidations on April 13.
