Mantra CEO John Mullin solved the major concerns of the community after the sudden decrease in OM tokens in the AMA (ASK ME ALLY) session hosted by Cointelegraph on April 14.
MULLIN has reassured the user that MANTRA and their partners are actively trying to support the recovery of MANTRA (OM) tokens, but the details of token repurchase and potential burns are still being developed.
“We are still in the early stages of summarizing this plan for the potential repurchase of tokens,” the CEO said. OM token recovery added that MANTRA’s “current interests and major concerns”.
According to Coingecko’s data, OM was traded at $ 0.73, slightly higher than the $ 0.52 Cola Labs at 7:30 pm on April 13th.
“E groundsless claim”
Mantra CEO has denied that the MANTRA team controlles 90%of the token supply, in addition to rejecting a report that major MANTRA investors have abandoned OM token free-crash.
Mullin emphasizes the “double -sided” of Mantra’s tokenomics, saying, “I think there is no basis.
Source: COINTELEGRAPH
Mullin said, “You have Ether Leeum side and the main net.
Mullin mentions Etherscan Records to the public, saying, “Binance is Binance.
The top eight addresses of om Holdings. Source: Etherscan
However, the best OM wallet is currently owned by Crypto Exchange OKX, which controls 14% or about 130 million tokens of circulation supply.
What is the next step in MANTRA’s $ 110 million MEF fund?
Mullin also spoke on April 7 in cooperation with major strategic investors, including Laser Digital and SHOROOQ, in Mantra Ecosystem Fund (MEF), a $ 190 million fund.
Other investors in the fund include Brevan Howard Digital, Valor Capital, Three Point Capital, Amber Group, Manifold, Uob Venture, Damac, Fuse, Lvna Capital, Forte and others.
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According to Mullin, this fund is entirely not composed of MANTRA’s OM tokens and has a “dollar promise and dollar donation.”
MANTRA’s $ 110 million fund investor. Source: Mantra
“We will continue to invest and support the ecosystem as part of this recovery plan.
End of Staying Program for Binance
In AMA, Mantra CEO said on April 14 that a 3.8 million copy of transaction with Binance Cold Wallet is related to the stage King program for Binance.
Mullin said, “It was actually Biny Nice.
source: Onchain lens
“So they just returned because they were finished,” he said.
Mullin also emphasized that many transactions that were caught in the reaction of the community after the clash were associated with assets by unnamed exchange.
Mullin said, “Effectively, this token was used as a collateral on the exchange, then the exchange was no longer a place to keep for any reason.
“So, basically, the position was acquired by the exchange that started selling and started selling, which resulted in a cascade of sales pressure and forced to liquidate more.”
Merlin said that Mantra is doing his best to solve the situation as transparent as possible.
“We do nothing.” He added that this was “very unfortunate.”
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