Mantra to Implement Burn Program for OM Token After 90% Crash
Mantra plans to implement a burn program for its OM token, according to CEO John Mullin. This announcement follows a significant drop in OM's value, which fell over 90% from above $6 to under $0.45.
- Mullin stated he will burn his team's tokens and develop a comprehensive burn program for the remaining supply.
- The decline was attributed to exchanges closing OM positions, although this explanation faced skepticism from some industry figures.
- Currently, OM trades around $0.81, reflecting an 87% decrease since the recent events.