Mantra post-OM token crash statement leaves key questions unanswered

Quick Summary:

Among its conclusions, Mantra stated that further information from its exchange partners will “provide more clarity on these events, adding:“We invite our centralized exchanges partners to collaborate on providing more clarity on trading activities during this time.”The Mantra team confirmed that it is preparing a support plan for OM that includes both a token buyback and a supply burn.

Limited circulation of mainnet OM tokensThe post also reiterated that there are two types of OM tokens, with one being Ethereum-based (ERC-20) and the other running on Mantra’s mainnet.“The incident almost exclusively involved ERC-20 OM, as ERC-20 OM represents virtually the entire liquid market,” Mantra said in the statement.

An April 16 announcement titled “Statement of Events: 13 April 2025” reiterates that the crash did not involve any token sales by the project itself, and the Mantra team remains fully functional and continues investigating the incident.

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Author / Journalist: Cointelegraph by Helen Partz

Category: Crypto

Markets: United States

Topics: Erc-20 Cointelegraph Released April Team Tokens Mantra Post Crash Statement Token

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-16 @ 15:53:31 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 387 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 18 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 27951351

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