Mantra DAO’s Strategy: Recovery Plan and Community-Driven Governance for OM Tokens
John Patrick Mullin, CEO of Mantra DAO, is tackling the sharp drop in OM Coin’s value by implementing a buyback and token burn program, while no team tokens have been sold during the crisis. Mullin is enhancing market transparency with live data panels. More recently, Mullin seeks community input on the future of 772,081 OM tokens he holds, aiming to reinforce decentralized governance. The community can opt for immediate token burn, extended vesting, storage in a community multisig wallet, or milestone-based unlocks. These initiatives aim to stabilize the token’s value, restore trust, and could set a precedent for community engagement in crypto governance.
Neutral
While the buyback and burn initiative might reduce the supply of OM tokens, potentially supporting price stabilization, the involvement of the community in deciding the fate of a large token allocation fosters confidence and transparency, possibly leading to more steady price movements. However, the impact on the market is uncertain as the recovery is still unfolding, making the immediate influence on trading activities neutral.