The CEO and co-founder of the Real-World Asset (RWA) Crypto Project Mantra (OM) will announce the plans to regain community trust according to the large-scale selling of blockchain tokens.
On Sunday, the value of OM tokens plunged from $ 6.35 to $ 0.37, showing a huge decline of 94%.
The price collapse occurred after at least 17 wallets were transferred to 43.6 million OM tokens ($ 227 million at the time).
Mantra CEO John Patrick Mullin announced a token support plan featuring repurchase and supply video programs after causing great losses to OM holders in the post on Social Media Platform X.
“I have already promised to pick up a team (not team). Comprehensive video programs are coming.
We are building a dashboard with a live balance of tokenomics bucket for further market transparency. ”
MULLIN says MANTRA is taking action to reinstall market trust and show a long -term promise to the project.
“In the OM Traders community, you have long believed in Mantra. But yesterday, yesterday, many people suffered losses due to the large -scale liquidation of the large OM holder’s position in a specific encryption exchange.
According to Mullin, the team did not sell OM tokens during market distress. He also said that many important traders were liquidated by the centralized exchange.
“We are convinced that the additional information of the centralized exchange partner will provide more clearly for these events. We invite the exchange partner to cooperate to provide clarity for trading activities during this period.”
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Created image: Midjourney