In the wake of a dramatic 90% drop in the value of Mantra’s OM token on April 13, 2025, CEO John Mullin has publicly addressed the situation, outlining steps the company is taking to stabilize the token and restore investor confidence.
Mullin firmly denied allegations of insider selling contributing to the token’s collapse. He emphasized that on-chain data indicates the crash was triggered by forced liquidations from an unnamed exchange, leading to a cascade of sell-offs and further price declines.
To promote transparency, Mantra released a community report detailing wallet holdings, asserting that the team’s tokens remain locked and that major exchanges like Binance and OKX hold significant portions of the circulating supply.
Recovery Initiatives
Acknowledging the severity of the situation, Mullin stated that Mantra is in the early stages of developing a recovery plan, which includes potential token buybacks and burns aimed at reducing the circulating supply and supporting the token’s value. While specific details regarding the volume and timeline of these initiatives have not been disclosed, the company is actively working on these strategies.
Mantra plans to leverage its $109 million Ecosystem Fund, which comprises both OM tokens and dollar assets, to stabilize the project and rebuild trust within the community. The fund is intended to support the ecosystem’s development and mitigate the impact of the token’s recent volatility.
To address community concerns, Mantra is enhancing its communication efforts by holding discussions on social platforms and publishing detailed reports explaining the causes of the crash. Mullin emphasized the company’s dedication to transparency and its intention to provide verifiable information to counteract misinformation and rebuild investor trust.
Current Market Status and Outlook
As of April 15, 2025, the OM token has partially recovered, trading between $0.73 and $1.10, still significantly below its pre-crash value of $6.30. Mullin acknowledged that the recovery process will be gradual and stressed that restoring the token’s value is a top priority for the company..
Alexander Stefanov
Reporter at Coindoo
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Source: https://coindoo.com/mantra-ceo-reveals-plan-for-whats-next-after-oms-90-crash/