Amid recent allegations of token manipulation and a sharp decline in OM’s market value, Mantra founder JP Mullin has broken his silence with a forward-looking update.
In a statement shared on social media, Mullin revealed that both a token burn and a buyback program are in progress.
“The burn program details are in the final stages, and will be shared in the near future,” Mullin stated. “Buyback program also well underway. We are working around the clock for the Sherpas/OMie.”
The burn program details are in the final stages, and will be shared in the near future. Buyback program also well underway. We are working around the clock for the Sherpas/OMies. 🫡🕉️
— JP Mullin (🕉, 🏘️) (@jp_mullin888) April 18, 2025
Market Jitters and Community Concern
Mantra (OM) has faced increased scrutiny from the crypto community following volatility in its token price and speculation surrounding internal practices. The announcement appears aimed at restoring confidence among holders and reinforcing the team’s long-term commitment to the project.
Token Burn and Buyback: What It Means
A token burn permanently removes a portion of circulating tokens, potentially increasing scarcity and supporting price. A buyback involves repurchasing tokens from the market, which can also stabilize value and signal internal belief in the project.
While specifics haven’t been released yet, Mullin’s update suggests full details will be shared soon. Community members are watching closely, hoping the measures will help regain trust and momentum in the Mantra ecosystem.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/mantra-om-founder-unveils-burn-and-buyback-plans-to-calm-om-market/