PANews
PANews|Apr 16, 2025 00:43
Mantra CEO promises to destroy his OM token to regain investor trust Mantra CEO John Patrick Mullin proposed to destroy his own OM token to restore investor confidence after the native token price of the protocol plummeted. Mullin stated that the tokens he holds are part of the team's reserved 300 million OM tokens, which will be unlocked until April 2027. According to Tokenomist's data, he currently holds approximately 772000 OM tokens, which is less than 1% of the over 80 million OM tokens in circulation as of April 15th. Mullin has configured his tokens on the liquidity proof protocol Fluxtra. Although he made a commitment and disclosed his current holdings, he did not disclose the specific amount of holdings, stating that he will wait until the destruction plan is ready before announcing the token shares he holds.
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