MANTRA to burn 300m $OM tokens to rebuild trust

Recently we have seen how things have gone in the market with om token and its value was dropped by over eighty percent in just a matter of one hour. This is not a normal scenario and something went really wrong behind this project and that is why the value was drastically dropped for the token and that too in a very short amount of time which is unbelievable. Now the project is trying to cover up and they have explained some regions on the social media but looks like people are not convinced because this is something not usual and people are not ready to find it a good explanation.

Now the project has announced that they are going to burn home tokens worth $300 million which is a big amount but this way they are trying to rebuild the community TRUST and they have already started the unlocking of the token. It is hard to say that how things will play later when whether people will like it or not but looks like this is a big step that project is going to take to regain the Community trust but lets see how it turn out to be.

DeFi protocol MANTRA has begun the process of burning 150 million OM tokens from its team and core contributor allocation. The unstaking of these tokens is now underway and expected to be completed by April 29, at which point the tokens will be sent to a designated burn address and permanently removed from circulation.

In Crypto market it is crucial to understand and figure out the project that are really great and especially in this project some big investors are part of it and they did not understand what went wrong. Generally when big whales start selling the coin then the price dump but in this case this was not the case and something else has happened which has affected the token price badly.

Getting trust again is not easy but lets see how the project is trying to recover it and what they are going to keep the community updated and have them trust again. This is why it is called Crypto is very risky because you never know how things are going to be and what impact it will bring your investment. Glad that I never is nested on this project so I'm not worried but I'm worried for the people who had gone through tough time because they invested on the mantra project.

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