The world’s active active ingredient project plans to create a complete burning program for its OM token, said CEO John Mullin in a Post on Wednesday.
Mullin responded to a position which said that he planned to burn his team’s tokens to win back the confidence of the community after OM suddenly lost more than 0% of its value on Tuesday.
“To be 100% clear, I say that I burn my team tokens, and we will create a complete burns program for other parts of the OM supply,” he wrote.
The chip burns refer to the process of permanently suppression of a proportion of the supply of a traffic cryptocurrency in order to increase the value of the tokens that remain.
OM fell from $ 6 to $ 0.45 in a few hours in any sudden catalyst.
Mullin blamed the drop in exchanges closing the OM positions, but not everyone was buying this explanation. The founder of Okx Start XU called the incident “a great scandal”.
OM is negotiated at around $ 0.81 at the time of writing, 87% lower than its price before the events of Tueday.
