After the drama that witnessed the distinctive symbol talisman for more than 90 % was broken, and lost 6 billion dollars in the market evaluation, the team started the burning initiative that will witness up to 300 million om code from offer forever.
In an attempt to save the Dead RWA project, the Founder of Mantra and CEO John Moulin began not to eradicate his allocation of 150 million om in anticipation of burning the entire group.
@jp_mullin888 The CEO and the founder burns his allocation to the team’s symbols. For more and why, read on.https: //t.co/tl5gpj3s pic.twitter.com/qpmqknb6jy
– Talisman Distinguished code RWAS (Mantra_chain) April 21, 2025
A talisman team has continued to partners of the ecological system in an attempt to burn 150 million encrypted codes
In the post of a symbolic update blog from today (April 21), Mantra confirmed that Molin will burn his allocation in OM with the announcement of this in talks with the main stakeholders and partners of the ecosystem to implement additional symbolic burning.
If the other parties agree to an additional symbolic burning of 150 million people, then the total burning will be 300 million. At current prices, this will reach $ 174 million of permanently removed symbols from trading.
A publication blog said that after Moulin’s commitment to burns last week, the process of not deduction of 150 million symbols from the team and the main shareholder in a bucket, said a blogger.
The distinguished symbols of the team and the main contributor during the emergence of Mantra Mainnet in October 2024, in an attempt to pave the network safety. Within the post, the team guarantees the three separate treatment that is verified that the distinctive om Crypto symbols are not surprised.
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Moulin is committed to burning the distinctive symbols of society last week. The idea was to rebuild confidence in the team, but he also mentioned that it was an evidence of “the constant focus on building a reliable and accessible financial ecosystem, which is presented through the distinctive symbol.”
The community’s reaction was negatively to the CEO’s announcement of the distinctive code burning plans. The Leviathan_News hosts, Samuel McCuluch (Traders_insight), chanted a common feeling by others in response to Mullin’s X Post.
“This is stupid. Why should you burn all your skin in the game? If you have a zero cause to move to the upward trend, what is the point?”
Mantra founder does not ignore, “I have a plan for this. You will see, walk.” No more information has been provided yet on how Moulin believed that burning the distinctive symbols of his team will benefit the long -term vision of OM.
With the presence of Token Burn now in the operation, the team stated in today’s publication that once the completion of April 29, 2025, the total offer will be reduced from OM from 1.82 billion things to 1.67 billion mothers.
It will also have an effect on the distinctive symbols, as it decreases from 571.8 million amp to 421.8 million mothers. If the team is able to persuade the partners of the ecological system and the main stakeholders burning an additional $ 150 million, the matter will reach about 1.52 billion.
This is stupid. Why should you burn all your skin in the game. If you have a zero cause to get the ascending side, what is the point.
Samuel McColich (Traders_insight) April 18, 2025
Related: Will a talisman encryption recover? Experience of experts for om PRICE Post-CRASH
om 10 % of its lowest levels after the flash crash 8 days ago
It was eight days destroyed for Mantra and om investors. Flash crash occurred on April 13, 2025, where OM sank more than 90 % from $ 6.32 to $ 0.5, per Coingecko. In doing this, nearly $ 6 billion has been eliminated from the maximum market for a talisman.
The team was accused of “pulling the rug” as soon as suspicious transactions were monitored days before the collapse. However, Moulin and the talisman team refuted these accusations directly, saying that the accident was due to the aggressive liquidation and hinting that the main central exchanges were responsible.
In an attempt to renew the “and VCS” retail investors in the project, the Mantra team created an actual time board to provide transparency on the om icon.
X Post was released on April 19 and said;
“After explaining the events on Wednesday, you can now find our first repetition of the actual time painting. It is here to provide a clear offer and take a direct look at the symbolic supply $ om, operational portfolios, and other important property.”
V1 of the dashboard shows a detailed collapse of EVM and Mainnet OM and links to the concerned governor. The post stated that the additional features will come across the V2 from the dashboard.
Om is currently trading about $ 0.58, which is approximately 10 % of its lowest levels after the consequences of flash crash eight days ago. Being a bill of billions of dollars, the maximum market is currently $ 558 million. Before collapsing, it was a 25 -year -old project by maximum market, while it is now in 130, for every coiningo.
(Coingecko)
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The founder of the distinctive symbol burning began with 15 millimeters
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John Moulin hopes to persuade the partners of the ecosystem and the main stakeholders to match his burning, to reduce the offer by 300 million front symbols
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Moulin believes that burning symbols will help restore confidence in a talisman project after the om Crypto crash of more than 90 % last week
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Rene the talisman team all allegations of the rug pulling, pointing to the fingers in the central stock exchanges that regulate the om crash
Post Mantra 300 million om Crypto Token Burn begins: It is too late? First appeared on 99bitcoins.