Mantra CEO addresses OM token recovery efforts
Mantra CEO John Mullin has outlined the company's plans for recovering the OM token following its significant decline, emphasizing that the recovery is their primary focus. In an AMA session, Mullin highlighted ongoing efforts to establish a buyback plan and assured the community that they are not involved in insider dumping, disputing allegations regarding the team's control over a majority of the token's supply. As of April 14, the OM token was trading at $0.73, up from a post-collapse low of $0.52 the previous day. Mullin also discussed the impact of a recent transaction involving 38 million OM tokens on Binance, clarifying that it was related to a now-completed staking program. Additionally, he affirmed Mantra's commitment to transparency and ongoing support for its ecosystem as part of their recovery strategy, which involves collaborations with major investors in their Ecosystem Fund.
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