Mantra: Реструктуризация и увольнения из-за нестабильности рынка Translation: Mantra: Restructuring and layoffs due to market instability

The CEO of the RWA protocol Mantra, John Patrick Mallin, has announced a restructuring plan that involves laying off an unspecified number of project employees.

He attributed this decision to the «extremely unfortunate and unfair events of April 2025,» a prolonged market downturn, and increasing competition, which have rendered the company’s cost structure «unsustainable.»

Departments affected by the layoffs include business development, marketing, and human resources.

«I take full responsibility for these decisions and for the path that led us here. I recognize that this is an incredibly challenging situation, especially for those directly impacted, their families, and everyone at Mantra. I am especially sorry for those who are leaving us,» Mallin stated.

In the spring, the price of the OM token unexpectedly plummeted by 90%—falling from around $6.30 to below $0.50. The market capitalization dropped by $5.5 billion. The community speculated about fraud; however, Mallin assured that the cause was widespread liquidations of positions with OM as collateral.

Later, researchers from OddEyeResearch concluded that the token’s crash was due to manipulation by insiders controlling over 90% of the supply.

At the time of writing, OM is trading at approximately $0.08, with a market cap of $93.3 million, compared to over $8.2 billion at its peak.

The Total Value Locked (TVL) in the Mantra ecosystem has decreased by more than 80%, from $4.5 million to the current $862,657.

Mallin stated that the project is focusing on capital efficiency. In early January, they launched a stablecoin, mantraUSD, backed by U.S. Treasury obligations, and reminded OM holders about the need to migrate from the Ethereum network to the native blockchain.

«To survive in the current environment and reclaim our leadership position, we must drastically improve capital efficiency and operate with enhanced focus,» he wrote.

Mallin promised that the Mantra team would provide more details about their plans in the coming weeks.

It is worth noting that in July 2025, the developer company MetaMask laid off 47 employees amid a growing cryptocurrency market. In August, the liquid staking platform Lido announced a workforce reduction of about 15%. This was followed by reports of restructuring in the metaverse project The Sandbox.