MANTRA cut staff after OM token crash, promise dem go focus RWA sharp-sharp
MANTRA founder and CEO John Patrick Mullin don announce say dem go lay off workers for whole company and do restructure to cut cost after 2025 wey full wahala wey include near 90% one-day collapse for dia native OM token. The Layer-1 blockchain wey dey focus on real-world-asset tokenization go cut roles for business development, marketing, HR and support make dem save runway and focus on top priority work. Management talk say earlier cost cuts no reach because crypto market don dey down long, competition strong and April 2025 events cause forced liquidations and panic selling. As response to the crash and governance wahala, MANTRA don do things: big OM burns (numbers wey dem announce different for reports), token buyback program, and public tokenomics dashboard to make things clear. The project deny any wrongdoing and say crash happen because one big holder face forced liquidations; dem still get public beef with exchange OKX over migration timing, wey add to holders uncertainty. CEO Mullin say the cuts no be because of poor performance, apologize to staff wey dem affect and say company go refocus on disciplined execution, capital efficiency and faster product delivery to stabilize the protocol and rebuild market confidence. Traders suppose note say OM still get downside risk because of the sharp previous price crash, concentrated holder/liquidity worries, and reputational damage, but the remedial steps fit help reduce supply medium-term and improve transparency if dem do am credibly.
Bearish
Di tinz di news overall bearish for OM. Di one-day ~90% crash, forced liquidations, concentrated holders/liquidity wahala an reputational palava dem raise short-term downside risk an reduce traders confidence. Company measures — token burns, buybacks an one transparency dashboard — good small but dem dey deal wit supply an trust over time, no dey immediately restore liquidity or demand. Layoffs an restructuring show say dem go reduce cash burn an get longer runway, fit limit tail risk medium term but no fit cancel di immediate price pressure wey market panic an concentration cause. So expect high volatility an continued downside bias short-term; medium-term effect depend on credibility an execution of governance an tokenomic fixes.