MANTRA cuts staff amid restructuring as OM token remains 99% below peak

MANTRA CEO John Patrick Mullin announced an unspecified number of staff layoffs due to an unsustainable cost structure exacerbated by a prolonged market downturn and competition, referencing "incredibly unfortunate and frankly unfair events of April 2025." The restructuring affects various teams, including business development, marketing, and HR, as the real-world asset (RWA)-focused Layer 1 blockchain contracts, with its Total Value Locked (TVL) significantly declining to $864,857. MANTRA's OM token is still trading about 99% below its February 2025 all-time high of $8.99, despite recent developments like the launch of the mantraUSD stablecoin backed by U.S. Treasury bills. Mullin framed the cuts as necessary for capital efficiency, promising a focused operating rhythm soon, while the project also reminded users to migrate their ERC-20 OM tokens to the native chain before January 15, 2026.

(Source：The Block)