MANTRA: The team has not sold, and plans to start the repurchase and destruction mechanism

On April 16, MANTRA released a statement on the OM plunge incident, saying that the MANTRA team is currently operating normally and promises to take all necessary measures to deal with the current market turmoil. During the OM plunge, the MANTRA team did not conduct any selling, and the token quotas of the OM team and the advisory team of the MANTRA mainnet were all locked. MANTRA currently knows that a large number of OM tokens were transferred to the trading platform and used as collateral. Based on MANTRA's independent observation of the event, it can be confirmed that during the period when the market activity level was low (around 2am Hong Kong time on Monday), forced position squaring events occurred, and these liquidations caused excessive selling pressure on the OM token market. MANTRA will release details of its OM token support program, which will include an OM token repurchase and supply destruction program.