Odaily Planet Daily News According to HashKey Capital member Rui and ArkStream Capital Founding Partner Ye Su on X, the cryptocurrency project MANTRA (OM) is a "ground-pushing OTC plate" with an OTC scale of US$500 million. It adopts the mode of "new OTC tokens take over old OTC selling plates" and operates in a cycle until the last unlocked chips "OTC does not move" explode.
According to the revelation, in 2023, when the OM token FDV fell to US$20 million and was almost abandoned, a Middle Eastern capital intervened in the acquisition under the matchmaking of the middleman, retaining only the CEO position. The Middle Eastern capital owns a large number of physical assets such as luxury homes and resorts, and then packaged OM into a physical asset tokenization (RWAfi) project.
Ye Su said that under a high degree of control, OM set Binance's highest increase in 2024, achieving a 200-fold increase, and the team is still promoting the "OTC plate" business recently.