MANTRA CEO "Burns Entire Allocated Team Tokens"...Aiming to Restore Trust

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Summary

The MANTRA CEO announced his intention to burn all of his allocated team tokens to restore community trust.
This decision was stated to be a measure to address the community's distrust following the recent 95% plunge in MANTRA tokens.
MANTRA has risen 27.94% due to these efforts, but it remains at a lower level compared to the pre-crash price.

The CEO of the Real World Asset (RWA) project MANTRA (OM) has announced his intention to burn all of his allocated team tokens to restore community trust. Previously, on the 13th (local time), MANTRA had plummeted by up to 95% on Binance.

On the 16th (local time), John Mullin, CEO of MANTRA, stated via X (formerly Twitter), "According to MANTRA's tokenomics, team allocations are distributed starting from 2027," and "to restore (community) trust, I will burn all team tokens allocated to me." This is interpreted as a measure to resolve the community's distrust following the recent sharp decline in MANTRA tokens and to enhance project trust.

He further expressed a strong determination to overcome the current situation through active efforts, saying, "If we overcome this crisis and prove the project's performance, I will allow the community to decide through a vote whether I am eligible to reclaim the rights to those tokens."

MANTRA also showed a sharp rise due to the CEO's efforts to restore trust. As of 3:33 PM, MANTRA is trading at $0.7886 on the Binance USDT market, up 27.94% from 24 hours ago. However, it remains significantly lower compared to the pre-crash price of $6.3.