Mantra (OM) Founder Unveils Burn and Buyback Plans to Calm OM Market

Amid recent allegations of token manipulation and a sharp decline in OM's market value, Mantra founder JP Mullin has broken his silence with a forward-looking update.

Mantra, the project led by founder JP Mullin, is facing unrest in its community due to recent claims of token manipulation and a significant drop in OM's market value.

However, Mullin has decided to break his silence and shared an update with the Sherpas.

Both a token burn and a buyback program are being prepared by the team and will be shared with the community.

"Burn program details are in the final stages, and will be shared in the near future. Buyback program also well underway. We are working around the clock for the Sherpas/OMie," said Mullin in a statement on social media.

The burn program details are in the final stages, and will be shared in the near future. Buyback program also well underway. We are working around the clock for the Sherpas/OMies. 🫡🕉️

— JP Mullin (🕉, 🏘️) (@jp_mullin888) April 18, 2025

The Mantra (OM) project has come under scrutiny from the crypto community for its token price volatility and internal practices.

The announcement appears to be a direct response to community members' concerns and aims to restore confidence in the project's long-term vision.

A token burn permanently removes a portion of circulating tokens, potentially increasing scarcity and supporting price.

A buyback involves the project repur chasing tokens from the market, which can also help stabilize value and signal internal belief in the project.

While specifics haven't been shared yet, Mullin's update signals that full details will be shared soon. Community members are eagerly awaiting these measures as part of the broader efforts to regain trust and momentum in the Mantra ecosystem.