Mantra: The team has not sold any shares and will launch an OM token support plan
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Planet Daily News: Mantra released a statement regarding the significant unexpected drop in OM Token prices, pointing out that the MANTRA team has not engaged in any selling activities. The 100% funds of the MANTRA mainnet OM team and advisory team remain locked, with ERC-20 Tokens in public circulation and not controlled by the team. Currently, 77.5 million OM Tokens are in circulation, and the mainnet OM wallet count exceeds 200,000. The initial forced liquidation sales caused downward price pressure, which triggered automatic liquidation of leveraged positions using OM as collateral on various exchanges. Subsequent liquidation and collateral seizure created additional downward selling pressure, with some key OM traders being liquidated by centralized exchanges. MANTRA will release details of the OM Token support plan, which will include OM Token buyback and supply destruction plans. MANTRA CEO John Patrick Mullin has publicly committed to burning the tokens allocated to his team.
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