MANTRA, the Layer 1 Blockchain and altcoin project focused on real-world assets (RWA), has undergone extensive restructuring following challenging market conditions. John Patrick Mullin, the founder and CEO of the company, announced in his statement on The decision was taken after months of internal evaluations and attempts to contain costs failed to meet short-term market realities. The long-term stagnation in the cryptocurrency market made it necessary for MANTRA coin to redefine its operational scale.
Cost Structure Reconstructed in MANTRA
According to the statement, the layoffs cover multiple units across the company, especially business development, marketing, human resources and support teams. While Mullin emphasized that the separations were not related to individual performance, he stated that the affected employees made important contributions to the construction of the MANTRA ecosystem. It was stated that the company is growing aggressively throughout 2024 and until the first quarter of 2025, increasing its investments in infrastructure, ecosystem development and go-to-market with the aim of rapid scaling, especially in the field of RWA tokenization.
However, the long-term downward trend in the cryptocurrency market, increasing competition and the “unfortunate and unfair” developments experienced in April 2025 brought the company’s expense structure to an unbearable point. Management evaluated that it was not possible to maintain the current financial situation and concluded that deeper cuts were inevitable. The main purpose of the restructuring was to strengthen operational discipline by making MANTRA a more agile organization.
OM Coin Crisis and the Quest for Trust
At the heart of MANTRA’s recent difficulties is the sharp price movement experienced in April 2025. The project’s mainnet asset, OM coin, lost nearly 90 percent of its value in a single day, sparking widespread liquidations and investor panic. The collapse brought about insider transaction allegations and governance debates around the project.
In this process, Mullin aimed to restore trust by announcing that 300 million OM coins belonging to the team would be burned. With the burning process carried out in late April, the circulating supply was permanently reduced, staking rates were reduced and the aim was to balance the ecosystem. The management states that, with the measures taken and the restructuring process, MANTRA plans to enter 2026 with a more focused, simpler and more durable structure.
