Mantra CEO proposes to destroy OM tokens held to restore investor confidence

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MarsBit
04-16
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Mars Finance reports that Mantra CEO John Patrick Mullin proposed destroying his own OM Tokens to restore investor confidence after a significant drop in the protocol's native Token price. Mullin stated that the Tokens he holds are part of the 300 million OM Tokens reserved for the team, with an unlock period ending in April 2027. On April 15th, Mullin issued a public statement on X platform, promising to destroy his future Token allocation and suggesting that the community could decide whether to allow him to regain these Tokens if the project recovers. According to Tokenomist, he currently holds approximately 772,000 OM Tokens, less than 1% of the circulating supply of over 80 million OM Tokens on April 15th. Mullin has allocated his Tokens to the Fluxtra Proof of Stake protocol. Although he made the commitment and disclosed his current position, he has not revealed the exact quantity, stating he will disclose the Token share when the destruction plan is ready.

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