OM Token Recovery Plan: CEO Mullin Proposes Personal Token Burn to Regain Investor Trust

CEO John Patrick Mullin has proposed burning his OM token allocation to revive confidence in the Mantra ecosystem in a dramatic bid to revive confidence in the Mantra ecosystem. The announcement has fueled optimism for an OM token recovery after a steep price collapse, triggering a 30% surge in OM’s price within 24 hours. The crypto community is now watching closely to see if this transparency-led strategy can restore faith in the project.

Mullin Offers to Burn Tokens, Cites Long-Term Commitment

In a post on X, Mullin revealed his intention to burn his team’s token allocation, which totals 772,000 OM. This represents a symbolic yet powerful move to prove commitment following the sharp market downturn. Mullin emphasized that all team tokens remain locked under a structured vesting schedule until April 2027, with full vesting not completing until 2029.

He clarified that this OM token burn would initially apply only to his share and would not affect the wider team’s incentives. “When we turn it around, the community can decide if I’ve earned it back,” Mullin wrote, positioning the move as a personal sacrifice to win back community trust.

Mixed Reactions from the Community and Industry Analysts

While the announcement stirred a bullish response in OM’s price, not all voices in the crypto space are supportive. Crypto Banter’s Ran Neuner criticized the proposal, warning it could weaken team motivation. “We want teams that are highly incentivized,” he said, suggesting that such a burn could unintentionally harm the project’s internal dynamics.

Despite this, Mullin remained firm, stating the gesture was meant to lead by example without disrupting the team’s reward structure. The move comes amid a broader effort to bring transparency and accountability to Mantra’s operations after the token’s catastrophic plunge from $6.30 to below $0.50.

Transparency, Buybacks, and Structural Reform in Motion

Beyond the personal token burn, Mullin has pledged a post-mortem report on the collapse and hinted at a new buyback and burn initiative. These efforts are intended to stabilize the OM token’s supply and attract long-term holders.

He also suggested that burned tokens could be reallocated through a community-controlled dispersal mechanism, aligning future decisions with decentralized governance principles. Meanwhile, OTC transactions ranging between $25 million and $30 million were confirmed as business operation funding, though Mullin stated the tokens remain locked.

In a recent interview, Mullin reiterated: “We didn’t trade any OM during the crash. No leverage, no exchange positions.” This clarification comes amid rumors of insider token movements during the downturn, which Mullin categorically denied.

Conclusion: OM Token Recovery Hinges on Trust and Execution

Mullin’s OM token recovery strategy is a rare case of proactive crisis management in the crypto world. His willingness to burn personal tokens, publish a post-mortem, and launch a buyback initiative could serve as a turning point for Mantra’s future.

Still, skepticism persists. If Mullin’s plans succeed in restoring investor trust and price stability, it may become a model for crisis recovery in DeFi projects. But failure could erode whatever goodwill remains. As OM continues to recover, all eyes are on how effectively the Mantra team follows through on these promises.