Recently in Crypto World Mantra (OM) Token Crash Has worryed investors. 14 April CEO John Mullin of Mantra spoke in detail in an AMA (Ask Me Anything Else) session organized by cointelegraph. He assured the investors that our team is working on the recovery of Om Coin with full force. However, plans like token buyback and burn are currently in the early stage.
Om Coin’s recovery is “Primary Consump”
John Mullin clearly stated that Mantra’s biggest priority Om Coin Value is to stable and recover it. He informed that buyback or burn plans are still being made and the company is taking strategic steps in this direction. He said, “We are on the early stage of this plan, but token recovery is most important for us at the moment.”
Price falls by $ 0.52, now mild improvement
The price of OM Coin fell to 13 April to $ 0.52, which was its lowest point. This decline was so fast that there was an atmosphere of roomy and fear in the community, which led to more pressure on the market. However, by the time this article was written, the price was back by $ 0.73.
CEO cleaning on “Baslesly Allegations”
Some reports claimed that Mantra’s team had 90% OM Coin and dumped tokens before the crash. Mullin described it as baseless and said that the team recently released a transparency report in which all the wallets have been informed. He explained that there are two versions of Om Coin – Ethereum Based Totally and Mainnet Based Totally. OM Coin’s largest exchange holder is Binance, while Okx Pockets have 14% circulating supply.
Mef treasure and investors support
Mullin also gave information about the Mantra Ecosystem Treasure (Mef), which is a $ 109 million fund and 7 April was launched. This includes big investors like Laser Virtual, Shorooq, Brevan Howard Virtual and Amber Workforce. He said that this fund is not only based on OM Coin, but it also includes dollar -based investment. The team will work on strengthening the ecosystem through this fund.
Binance staking and disclosed of traffic-based totally promoting
In the Ama Consultation, Mullin reported that the 38 million OM transactions which took place in the cold wallet of Binance were due to the end of the stacking program of Binance. Also, he said that some Om Coin was used as collateral by the nameless exchange. When that exchange closes the position, token selling at the large level, causing the crash and fasting.
Conclusion
Om coin value The community has got some relief from the transparent words of Mantra Ceo John Mullin amidst the decline in the market and the fear spread in the market. He cleared that the team was not running away from this situation, but is facing it responsibly. Through token buyback, mef treasure and transparency, the company is working towards strengthening its reputation and token value. Although the recovery path is still long, Mantra has made it clear that they are not going to retreat.
