PANews reported on April 16 that according to CryptoSlate, Mantra CEO John Patrick Mullin proposed to destroy his OM tokens to restore investor confidence after the price of the protocol's native token plummeted. Mullin said that the tokens he holds are part of the 300 million OM tokens reserved by the team, and the unlocking period for these tokens ends in 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, less than 1% of the more than 80 million OM tokens in circulation on April 15. Mullin has configured his tokens on the liquid proof-of-stake protocol Fluxtra. Although he made a commitment and disclosed his current holdings, he did not disclose the specific holdings, saying that he would wait until the destruction plan is ready before announcing the share of tokens he holds.
