Mantra: The team has no selling behavior and will launch the OM token support program
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.