John Mullin, CEO of Mantra, has decided to burn team tokens in response to the significant decline in OM's price. This move aims to restore trust among the community and investors.
Decision on Token Burn
John Mullin announced plans to burn all team tokens on April 16, 2025, following a severe crash in OM's price. This decision highlights his intention to regain trust in the company.
Market Response to the Announcement
Following the announcement of the token burn, OM's price rebounded by 50%. The market reacted positively to Mullin's actions, signaling potential recovery and renewed interest in the token.
Community Discussions
The community is divided in its views on the initiative. Some praise Mullin's transparency, while others express concerns over potential motivation risks for the team.
John Mullin's actions may set a significant precedent for the crypto industry, demonstrating how company leadership can respond to market volatility and restore investor trust.
