
MANTRA CEO JP Mullin has pledged to rebuild the project following an unprecedented 87% crash of the OM token.
In a recent interview with CoffeeZilla, Mullin denied allegations of insider selling and attributed the price crash to sudden closures of account positions on centralized exchanges during thin liquidity. He also announced his intention to voluntarily burn his entire team token allocation – a total of 772,000 OM tokens.
To regain community trust, Mullin has promised to distance himself from accusations of profiteering by burning his tokens, stating that “When we turn it around, the community and investors can decide if I’ve earned it back.” This symbolic gesture aims to show his commitment to transparency and accountability.
Furthermore, MANTRA has launched a massive $109 million ecosystem fund aimed at recovery and future development. According to Mullin, this fund will be used to inject liquidity, conduct buybacks, and provide support to affected users. “We will inject our own liquidity if necessary,” he emphasized, making it clear that the team is prepared to take direct action to help the community.
Despite the recent crash, MANTRA CEO JP Mullin remains optimistic about the future of the project, stating “We’re not going anywhere. We’re going to rebuild.”
Source: https://fullycrypto.com/mantra-ceo-promises-to-rebuild-after-87-crash?utm_source=rss&utm_medium=rss&utm_campaign=mantra-ceo-promises-to-rebuild-after-87-crash