Mantra CEO John Mullin announced plans to burn 300 million locked OM tokens allocated to the team, aiming to regain community trust after the token's significant collapse on April 13. The OM token experienced a drastic price drop, plummeting from $6.30 to as low as 52 cents, resulting in a loss of over $5.5 billion in market value. Mullin stated his intention to return these tokens as a gesture of accountability, allowing the community to decide on his future involvement. Feedback from community members has been mixed; some see the token burn as a necessary step toward trust, while others express concern regarding the team's motivation and long-term commitment to the project. Mullin has also committed to transparency by releasing a post-mortem outlining the circumstances leading to the token's decline and plans for recovery. The collapse has been attributed to reckless liquidations rather than team misconduct, with high-volume trading causing unusual volatility across exchanges.

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