Mantra CEO John Mullin announced plans to burn the team's 300 million OM tokens, valued at around $236 million, to regain the community's trust after the collapse of the OM token on April 13. The token, initially worth $1.89 billion, plummeted from $6.30 to 52 cents, wiping out over $5.5 billion in value, as reported by CoinGecko. Mullin proposed a decentralized vote on burning the team tokens, but some community members expressed concerns about impacting the team's motivation. Mullin aims to use the $109 million Mantra Ecosystem Fund for potential buybacks and burns to stabilize OM's price. Mantra denies controlling 90% of the token supply and engaging in insider trading, attributing the collapse to reckless liquidations. Exchanges like OKX and Binance saw high OM activity before the collapse, relating it to changes in OM's tokenomics in October and unusual volatility leading to cross-exchange liquidations on April 13.