Mantra CEO John Patrick Mullin has proposed destroying his holdings of OM tokens to restore investor confidence following the collapse in the price of the protocol's native tokens. Mullin said his holdings are part of the 300 million OM tokens the team has set aside, which are unlocked until April 2027.
On April 15, Mullin released a public statement on the X platform, promising to destroy his future share of the tokens, and said that if the project recovers, the community can decide whether to let him regain these tokens. According to Tokenomist data, he currently holds about 772,000 OM tokens, which is less than 1% of the more than 80 million OM tokens in circulation on April 15. Mullin allocated his tokens to the liquid proof-of-stake protocol Fluxtra. Although he made a commitment and revealed his current holdings, he did not disclose the specific amount of his holdings, saying that he will wait until the destruction plan is ready before revealing his holdings.
Mantra CEO proposes destroying OM tokens to regain investor trust
2025-04-16 00:11:40
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