Mantra CEO: OM token recovery is a top priority, but it’s still early days

Odaily Planet Daily News Mantra CEO John Mullin responded to community concerns after the sharp drop in OM tokens, saying that the project is driving the recovery of tokens, and the repurchase and destruction plan is still in the early stages of formulation. He emphasized that restoring OM tokens is the top priority, and denied the allegations that the team controls 90% of the token supply and major investors sell, saying that the relevant claims are "groundless" and have issued a community transparency report to clarify. Mullin pointed out that the current largest holder of OM on the exchange is OKX, accounting for 14% of the circulation, about 130 million. He also mentioned that the $109 million ecological fund established with strategic investors will continue to invest in supporting ecological development. Regarding the recent transfer of 38 million OM to Binance cold wallets, he said it was a return operation after the end of the pledge plan. In addition, Mullin revealed that part of the liquidation came from an unnamed exchange that stopped maintaining collateral positions, triggering chain selling pressure. (Cointelegraph)