ChainCatcher news, according to the official announcement, Mantra has announced the destruction of 150 million OM tokens belonging to the team. The official statement indicates that this move aims to rebuild trust while demonstrating a strong commitment to building a credible, accessible, and inclusive financial ecosystem through tokenization.In addition, MANTRA is in ongoing communication with key ecosystem partners to implement an additional destruction of 150 million OM tokens.

ChainCatcher news, MANTRA co-founder JP Mullin stated on social media that over 91% of the circulating supply of MANTRA is issued on Ethereum and has been in circulation for nearly 5 years, with 90% of the circulating supply never being controlled by the team.

ChainCatcher news, according to official sources, Mantra has announced the launch of the first initial version of its real-time dashboard. This dashboard aims to provide a clear perspective and real-time data, showcasing the supply status of the OM token, operational wallets, and other important on-chain asset holdings.Dashboard V1 includes: a detailed breakdown of EVM chains and the mainnet OM; links to relevant wallets.

ChainCatcher news, MANTRA co-founder JP Mullin stated, "The details of the MANTRA token burn plan are in the final stages, and relevant details will be announced soon. The token buyback plan is also actively progressing."

ChainCatcher news, according to Cointelegraph, suitable market makers can act as boosters for crypto projects, helping them to launch on mainstream trading platforms, providing liquidity, and ensuring that tokens are tradable. In the field of market making, a popular yet often misunderstood model is called the "loan option model." In this model, the project lends tokens to market makers, who then use these tokens to provide liquidity, stabilize prices, and assist the project in launching on crypto trading platforms. However, in reality, this model has become a "death sentence" for many new projects.Behind the scenes, some market makers are profiting from this token loan structure, which is often packaged as "low risk, high return," but in reality can severely impact token prices, leaving nascent crypto teams in chaos and struggle. Ariel Givner, founder of Givner Law, stated, "The way it works is: market makers borrow tokens from the project at an agreed price, in exchange for their promise to help these tokens launch on major trading platforms. If they fail to fulfill this promise, they must repay the tokens at a higher price within a year."However, what often happens in reality is that market makers sell the borrowed tokens, triggering an initial price crash. After the token price has been driven down, they then buy back the tokens at a lower price, profiting from the difference.

ChainCatcher message, Mantra released a statement regarding the significant unexpected drop in the price of the OM token, which stated: the MANTRA team has not engaged in any selling activities. 100% of the funds from the MANTRA mainnet OM team and advisory team remain locked, while the ERC-20 tokens are in public circulation and not controlled by the team. Currently, there are 77.5 million OM tokens in circulation, with over 200,000 mainnet OM wallets.The initial forced liquidation sell-off caused downward price pressure, which triggered automatic liquidation events for leveraged positions collateralized by OM on various exchanges. The subsequent liquidations and collateral seizures created additional downward sell-off pressure, with some significant OM traders being liquidated by centralized exchanges.MANTRA will release detailed information on the OM Token support plan, which will include a buyback and supply destruction plan for OM tokens. MANTRA CEO John Patrick Mullin has publicly committed to destroying the tokens allocated to his team.

ChainCatcher news, Mantra CEO John Patrick Mullin proposed to burn the OM tokens he holds to revive investor confidence after the price of the protocol's native token plummeted. Mullin stated that the tokens he holds are part of the 300 million OM tokens reserved for the team, which will be unlocked by April 2027.On April 15, Mullin released a public statement on the X platform, committing to destroy this portion of tokens that he could potentially receive in the future, and stated that if the project recovers, the community can decide whether to allow him to regain these tokens. According to data from Tokenomist, he currently holds approximately 772,000 OM tokens, which is less than 1% of the over 80 million OM tokens in circulation as of April 15. Mullin has allocated his tokens to the liquid staking protocol Fluxtra. Although he made a commitment and disclosed his current holdings, he did not reveal the specific amount, stating that he would announce his token holdings when the burn plan is ready.

ChainCatcher news, according to Cointelegraph, Mantra CEO John Mullin responded to community concerns following the sharp decline of the OM token. He assured that Mantra and its partners are working to revive the OM token, but details regarding the buyback and burn are still being formulated. He stated: "We are still in the early stages of developing a potential token buyback plan." Furthermore, Mullin mentioned that the recovery of the OM token is Mantra's top priority. He denied allegations that major investors were dumping OM tokens and that the team controls 90% of the token supply, emphasizing that the related accusations are baseless and referring to the community transparency report that has been released. Mullin noted, "The largest holder of OM on exchanges is Binance," and directed the public to check Etherscan records. However, currently, the largest holder of OM wallets is the cryptocurrency exchange OKX, which holds 14% of the circulating supply, approximately 130 million tokens.Mullin also introduced the $109 million Mantra Ecosystem Fund (MEF) in collaboration with strategic investors, stating that the fund includes "dollar commitments and contributions" and will continue to invest in supporting the ecosystem. He said: "As part of the recovery plan, we will continue to invest and support the ecosystem." Additionally, he revealed that the 38 million OM transferred to Binance's cold wallet on April 14 is related to a staking program with Binance, which returned the tokens due to the program's conclusion. He also pointed out that many trades that triggered community reactions after the crash involved collateral from an unnamed exchange, stating, "For some reason, that exchange decided to no longer maintain this position, so the exchange receiving the collateral took over these positions and began to sell, triggering a chain of selling pressure and forcing more positions to be liquidated."

ChainCatcher news, on-chain detective ZachXBT posted on social media that he has continuously heard two names related to the Mantra incident: Denko (founder of Reef Finance) and Fukogoryushu. It is alleged that in the days leading up to the 90% crash of the OM token, these two sought large loans using their holdings of OM as collateral.It should be noted that Reef Finance has a history of market manipulation; the token was delisted by Binance in October 2024, and its team had previously reached an over-the-counter trading agreement with Alameda Research for $80 million in 2021.

ChainCatcher news, according to on-chain analyst Onchain Lens (@OnchainLens), the MANTRA DAO staking wallet sent 38 million OM (approximately 26.96 million USD) to the Binance cold wallet.

ChainCatcher news, according to The Block, the OM token of the Layer 1 blockchain project MANTRA, which focuses on real-world assets (RWA), dropped by about 10% between 01:20 and 02:20 Beijing time today, and then suddenly plummeted from the then price of $5.21 to about $0.50 (as of the time of this media's report), experiencing a 90% drop in just 90 minutes. Before the project's public Telegram group became inaccessible, community leader Dustin McDaniel downplayed the accusations of team sell-offs, stating that he was not aware of the situation. At 04:51, MANTRA's X account updated that the crash was triggered by reckless liquidations and was unrelated to the project itself. Co-founder John Patrick Mullin mentioned that large OM investors faced massive forced liquidations on CEX and stated that they were addressing the issue.Previously, MANTRA had been accused of controlling a large portion of the token's circulating supply in an attempt to manipulate the token price. In response, Mullin stated, "The OM token has been in circulation since August 2020, longer than most skeptics have been in the crypto space."Some investors pointed out that DeFiLlama data shows the MANTRA protocol's TVL is only about $13 million, while its fully diluted valuation is as high as $9.5 billion, which could be a risk signal. Additionally, Insomniac, the governance lead at Castle Labs, discovered that three wallets recently transferred millions of dollars worth of OM tokens to OKX and Binance, with one wallet receiving about $36 million worth of OM tokens from Binance on March 21 and then transferring about 4.3 million tokens to OKX on Saturday, suggesting a potential sell-off.

ChainCatcher message, according to on-chain analyst The Data Nerd (@OnchainDataNerd), a new wallet address 0x9a4 has withdrawn 644,700 OM tokens from Binance exchange in 4 hours, worth approximately 4.42 million dollars.

ChainCatcher news, according to on-chain analyst Ai Yi's monitoring, the quantitative investment firm Manifold Trading transferred 2 million OM tokens to Binance exchange, worth approximately 14.92 million USD.If the sale is completed, it is expected to profit 14.84 million USD. Data shows that the address has transferred a total of 5 million OM tokens to the exchange in the past 8 hours, with a total value of 37.75 million USD.

ChainCatcher message, according to Ai Yi's monitoring, smart money 0x177...4fe76, after holding OM for more than a year, is suspected to have reduced its holdings by 8.71 million tokens today, realizing a profit of approximately 61.23 million dollars.This address purchased 23.83 million OM tokens from Binance at an average price of 0.2261 dollars between January and March 2024, transferred 11.53 million tokens to a new address 11 months ago, and woke up 9 hours ago to partially recharge into the exchange. OM has increased by 36% in the last 24 hours and has accumulated a rise of 94% over the past month.

ChainCatcher message, according to on-chain analyst OnchainLens monitoring, a large address transferred 799,895 OM tokens to Binance exchange, currently valued at approximately 4.33 million USD. This address had held the tokens for about two months, initially withdrawing around 4.4 million OM, which was valued at 15.95 million USD at that time.Thirteen hours before transferring to the exchange, this address had moved 3.6 million OM to another address. Based on the current market value, these OM tokens are worth a total of 23.96 million USD, yielding a profit of about 8 million USD.

ChainCatcher news, according to market news, on-chain data shows that the TRUMP team is using profits from the token to purchase SOL.

ChainCatcher news, according to data from RootData, the Travala.com token (AVA) has increased by 249.15% in the last 24 hours, currently priced at $2.59.According to the Web3 asset data platform RootData, Travala.com is a one-stop travel booking platform that combines OTA functions with the benefits of decentralized technology and symbolic incentives.

ChainCatcher news, according to on-chain analyst @ai_9684xtpa, the OM token surged 169% in November, with Manifold Trading likely being the biggest winner------single-token profits reaching as high as 27.87 million dollars.Another associated address of Manifold Trading, 0x325...EE78f, deposited 2.24 million OM, which was acquired at an average price of 0.0623 dollars in January this year, into Binance 2 hours ago (deposit price 3.84 dollars); if sold, it would yield a profit of 8.48 million dollars, while the remaining 4.44 million has allegedly been sold off through another address, accumulating a total profit of 12.71 million dollars.

ChainCatcher news, focusing on RWA's Layer1 blockchain MANTRA announces mainnet launch.Users will be able to perform multiple activities, including: cross-chain transferring ERC-20 standard OM tokens to MANTRA mainnet tokens to receive future RWA drops; staking OM to help secure the network and earn on-chain staking rewards.

ChainCatcher message, the AtomOne chain based on Cosmos Hub's proposal 848 has been launched, with the independent governance blockchain GovGen successfully initiated with the support of 50 validators. It has improved the concentration of validator voting power by removing the voting rights related to validators and delegations. AtomOne aims to prioritize security, adaptability, and inclusivity to promote the development of the Cosmos ecosystem and enhance the decentralized governance process.In terms of token economics, 96.99 million ATONE are allocated to ATOM token holders, 5.38 million ATONE are allocated to the community pool, and 5.38 million ATONE are allocated to the reserved address AtomOne Treasury DAO.