Mantra OM Recovery Plan? | Cosmos Crypto News & Cosmoverse Early Bird Tickets LIVE

Dear Cosmos friends, I'm very proud to announce that Cosmoverse early bird tickets are now live at only $39 for the entire conference or three full conference days, multi-stage experience, exhibition area. We have activations, full food and beverage catering from the morning to the evening and a lot of side events that we're going to be announcing in a couple next couple of weeks. That is all covered with the early bird ticket. We also have the loyalty pass as well as the executive ticket that is also live today. Big shout out to OmniFlix and LP Labs, our partners that have built this platform with us. Very, very honored to be working with them. They're great supporters. Also, you'll be able to book your hotel room at the conference venue at a big discount at 105 euros for a single room, including breakfast and 120 euros for a double room, which means 60 euros per person, including breakfast per night, which I think is unbeatable nowadays. And if you look at other conferences, they're charging 700, 800, 900 euros for the ticket alone, which doesn't include food and it's only a two-day conference. And then you still have to fly there. You still have to pay for accommodation, all those kinds of things. Cosmoverse has always been about the lowest entry barriers possible to make sure everyone is able to come. Well, the way you can get your ticket is by clicking on the top link in this video description. You will get here on the Cosmoverse website. You click on get tickets and it will pop up the ticketing platform and you can now choose between three different types. There's the loyalty pass that is going to be open until the conference day. And this one is going to be for loyal customers attendees and will stay at 39 euros or dollars for the entirety of the ticket sale until the conference begins. And this one is a regular full access ticket. And there might also be loyalty drops in the future from our partners to loyalty pass holders. For those that are coming for the first time, the early bird ticket is what you'll need. You can just click here on buy now. You type in your personal details here. You add your Flix address for NFT drops. You can also connect your Kepler or Leap directly here. Then you click on checkout and there you'll have the opportunity to either use Stripe for fiat payments using your Visa or MasterCard or with on-chain payments in Atom because we integrated Kepler, Leap Wallet and Cosmo Station. And around half of the purchases have already been done in Atom. So a lot of you guys are on-chain users, which is great to see. And then you'll receive a confirmation email with your ticket. So that's the process. Very easy, very seamless. The executive ticket is going to be for investors and VCs primarily. An executive track will have its own agenda. Obviously, you'll have full conference access like with the early bird ticket as well. But then you'll also have access to our executive lounge, which is going to be a penthouse suite this year. It's going to be a very, very sick venue. We have a very nice terrace overseeing the Dalmatian coast and the city of Split. We have a VIP opening dinner invite with that one, a VC brunch, a VC soiree, and also VIP access to the after party as well as full access to the pitching competition, all pitching decks, and all this kind of thing. So that one is worth as well if you're an executive, if you're an investor, or if you are a project that is also looking to connect with investors or even connecting or trying to raise from VCs. Now, the second step will then be to book your accommodation. You can just come here on our website as well. You'll see this top banner here, book your stay for customers. You click here on book a room. You'll get redirected directly to the Marriott, Le Marriott page, and you'll be able to choose the dates here. Note that as of right now, the night from the 3rd to the 4th of November is unavailable. But if you're planning to come from the 28th to, let's say, the 3rd, then you can just go here, check availability, and then you will see the room that is available, the rate, one of five years a night. I think, to be honest, that is an unbeatable price. And if you are choosing a double room with two adults, then you can also do that here. Just adjust the rate, and you'll see it will change to 120 a night for a room. So that's that. I've been to the hotel. It actually looks better than on the pictures. The rooms are just amazing. And many of them have actually full sea view, which is also very cool. So check that out, and I'll see you in Split, Croatia later this year. Now, switching over to the hottest story in crypto right now, which is the collapse of the mantra OM price. And what you're looking here is not actually the OM price, but this is the Matic price from 2019. And there's basically two theories or two camps out there right now. And the first one is also the more prominent one that has a lot more representatives and a lot more support. And that is the one that mantra is a scam. JP should be going to jail. And this was all planned and is an insider thing. And mantra OM from here is going to absolute zero. This will never recover. That is the Luna 2.0 kind of camp. The other one is that, you know, mantra will go through this. JP is a hustler and will pass through these times. And he's a true leader. And he's working around the clock to make sure the community is getting made whole. And they'll get it right. And eventually the OM price will recover. Me personally, which you should probably know by now, I'm more in the second camp. Because also I've been knowing JP and the mantra team for a very long time. So I just have a very hard time believing that they would just pull off a blatant scam like this just for a little bit of money. Because they were, I guess, a lot richer when OM was at $6. So I think it's also in their interest to make sure that OM gets back to $6. But of course, something major has blown up. And I think we're still waiting for the full post-mortem report to get to the ground of this. But I also believe and am more inclined. Obviously, I'm not 100% sure. This is no financial advice by any means. This thing can go to zero like this. Like I have my Twitter tagline. Any coin can go to zero like this. You've seen it with Matic. You've seen it with Luna. You're not seeing it with OM. You've seen it with countless other coins over the years. We've seen it with Torchain and Rune, right? Just a few months ago when it went from $5 or $6 to also below $1, I think it even went. So that's just what we're signing up for. But I personally think that this feels more like a Matic move than it feels like a Luna move. And we know what happened from here with the Matic price. It went, yeah, parabolic from there. This was a drop from $0.04 to $1.something. So from a $400 million FDV to $100 and something million. And it went on to over, yeah, to nearly $3. So it went to a $30 billion FDV around two years ago. For reference, this is the Luna price or LUNC, Terra Classic price that basically crashed from a $40 billion valuation to pretty much zero and has never really recovered from there. Obviously, they forked it with Luna that has a higher valuation. But still, Terra Classic and the new Terra chain never fully recovered. And Terra was also basically, yeah, shut down by the government. They had to also sell all their assets and basically dissolve the team and dissolve the foundation. And that was the end of Terra. And this here is the Mantra Om chart that has been bouncing back 55% today, $0.83 right now. And we do have some news from JP and the Mantra team that we'll be sharing. And I'll also be sharing my views at the end of the video on what I think that they are going to recover from here or whether this is the end. And also what I've been doing. But this chart obviously looks terrible. Absolutely terrible. If you especially look in the one-year chart, like absolutely crazy freefall of the cliff from $6 here to actually below $0.40. But yeah, in the past 24 hours, we've seen some kind of recovery and price stability at least. At least no more dumping, no more bleeding. But yeah, this is absolutely brutal. Now the question will be, are they going to recover from this or is this it? But if you zoom really out, out, out all the way between 2022 and 2024, which is something that JB has also talked about on the streams that he was on yesterday in interviews, is that this is where Mantra was really almost dead pretty much. And everyone thought they were dead. And this is like where Mantra had a few million dollars in FTV was ranked on page 12 on CoinGecko. Nobody cared about it. Nobody gave a shit about it. And then they went on this parabolic run. And well, whatever happened, happened. And they're now sitting at a $1.something billion, $1.5 billion valuation after, of course, doubling the supply, which is also something people have criticized. We've also been kind of neutral in that whole tokenomics change that was announced sometime in late Q4 last year. So we've also not been the biggest fans of that. But we reported about this. And that's also what we're doing here on CryptoC2 and the C2Zone is that we are a platform to distribute information. Obviously, I can share my opinions here and there. And you might not like it at times, but that's just my personal opinions. And everyone is free and entitled to their own strategies, opinions and actions. Anyways, we're going to get back to that later. But overall, I think today does not look well when it comes to overall market behaviors and price movements. Atom about to fall below $4 again. Kronos, the biggest Cosmos chain, below $0.10, down 2.5% today. Say also, yeah, $0.70, super low. Celestia T at $2.50. So crazy valuations in my book, at least. I think these are huge discounts and still give opportunities for people to buy in and accumulate before the market does a 2, 3, 4x. And then it will be too late. But we'll see when it happens, if that happens, if outseason is canceled forever, which obviously I don't believe in. But yeah, this is just where we have been for the past years and are still in this phase of down only and just scratching at these very, very low, frustrating valuations for most people. On the other hand, on the bright side, we're seeing now a very bullish core Cosmos team. The Interchain Foundation and Interchain Labs, led by Mark Edberry, they're bullposting like never before, like there is no tomorrow. And they also just had a spaces with Babylon and some other peeps from the Cosmos ecosystem. But Mark also reiterating what I talked about yesterday, the success of IBC for the first time ever is directly linked to the Cosmos Hub and Atom. And this is something that everyone has been criticizing about Atom, that it does not accrue value and that it doesn't benefit from IBC volumes. Well, now with IBC v2, this is fixed. And I think this poses a huge opportunity for Atom and also to make Atom interesting again. But there are more things that are happening. One of them is also a proposal to reduce the community pool tax from 10% down to 2% or even lower or entirely get rid of it. I think right now there's around 9 million Atoms in the community pool. And with the discontinuation of the Atom Accelerator DAO, they will be discontinued and they will not ask for any more funding. And with the alignment of Mac and the ICL, I think this makes a lot of sense. I'm also going to propose moving the community pool funds to a DAO managed by vetted members and himself called the Atom Alignment Apps Fund, with the AAA fund basically, that will be there to drive value to Atom and bring significant utility, like Mac is saying, to Atom. So let's see if they can execute on that. But if there's one team or one person that can, then it's this man, Mac from Interchain Labs. Speaking of IBC v2 and Eureka, we also now have IBC Go v10, which is the official v2 of IBC protocol that is now live, a new release that will hopefully be implemented in as many Cosmos SDK chains as possible. And IBC v2 is all about simplicity and making things more efficient, faster and cheaper and more interoperable with other ecosystems. Obviously, now we have the big one with Ethereum. There will be more EVM chains, also Solana virtual machine eventually and Move VMs as well. So that's v2 of IBC that is now officially live. Then we also have big news from Celestia. They have launched the MAMO1 testnet that is, I think, 6X-ing their data throughput, enabling 21.33 megabytes per second of permissionless data throughput with 128 megabyte blocks, which brings them a significant step closer to their 1 gigabyte block goals. And I think Celestia, as I said, still one of the biggest sleeping giants in crypto. And right now we still have Eclipse, the by far largest client or user of Celestia with 94% of block count. But it is also important to mention that the TurboTap game on Eclipse has ended. The snapshot was made. So now the incentive for TurboTapping on your keyboard and posting data on Celestia is gone because the snapshot was made. And we'll see that will probably come down a lot which other application or rollup on Celestia will dethrone Eclipse eventually. Or if Eclipse will just pull through because their TGE is very, very imminent. I think we're just three or four weeks away from now. With the Eclipse TGE, the AdDrop Checker will come also very, very shortly. And also the Eclipse ES tokenomics. That is very, very imminent. I'm also an investor with City Adventures into Eclipse, by the way. And I've been TurboTapping like crazy over the past weeks and months. We always share that here on the channel. So if you've been watching, then you are aware. Speaking of games, we also have Saga announcing the Empire of Sight that is now live on Saga. They also just concluded the 10th vault of the airdrop. The claim window has finished or, yeah, is ended. And the distribution window is going to open very, very soon. And then I guess there will be another round for the airdrop that is also going to reward not only stakers and those that are compounding and also sticking their airdrop, but also those liquidity providers, LPs, on the Saga decks, where you can now provide liquidity. Now, getting back to the OM story, DomTraderview2 has posted a report here. Basically, yeah, pulling information, on-chain data, and trying to figure out what has happened here. And obviously, there are now a lot of theories about who sold, what happened, which platform. And his conclusion is actually very interesting because he's saying that this points to a coordinated attack within a few-second period that first secured in Binance, where one market sell on spot and perp markets triggered this entire cascade. And then this caused this liquidation death spiral that added to the cascade and basically caused the price of OM to get into this free fall. And his learning, or what he's sharing from this, is that number one, market cap is irrelevant. Number two, liquidity is all that really matters. And there wasn't deep liquidity, deep enough liquidity for OM to absorb that. Most of crypto has a massive liquidity issue, which is 100% true. And the perp market destroyed 90% of a coin's value in an hour. Well, the perp market was basically flat. So, very interesting. I also leave a link for this analysis below the video, so you can also check that out and make up your own mind and also your own views. Well, as promised, JP also came out today with two tweets. The first one, basically a thread expressing that he's feeling grateful for all the support and positive messages he received in the past 36 plus hours. Obviously, he received a lot of hate, death threats, a lot of nasty messages as well, and people calling him a scammer, calling him names, all these kind of things, which, you guys, I think it does affect him, obviously, as a human. But I also think that he has very thick skin and knowing him for so many years. He's also thanking Sharuk and Laser, some of their larger investors, and also mentioned that a post-mortem report detailing the events will come within the next 24 hours. And in addition to that, which is very important, they will also share info about an OM token buyback program in collaboration, I guess, with their investors, as well as an OM supply burn program to reinstall trust in the market and ensure a commitment to OM and mantra in the long term. So that's the first statement that he basically came out with. The second one is that he's planning to burn all of his team tokens. And when they turn it around, the community and investors can decide if he earned it back. So he's also basically forfeiting his own allocation. Obviously, he's made money before. Obviously, he's probably a multimillionaire and doesn't really care about it. But I think this is a very important sign to the market that JP does not really care about that honeypot of money, aka his team equity tokens. But he really cares about also his reputation, his credibility as a founder, as a builder and contributor in the space. And I still give him the benefit of the doubt, not because I know him, not because he's my bro. We've been having Shisha here in Dubai, and I've been knowing him since 2018, 2019, because I was based in Shanghai at the time. And he was also part of that crypto scene in Shanghai back then. And some other early contributors of Mantra and many other projects that are still around to them and some are not. But yeah, I've been knowing him for a very long time. And many other people as well. So of course, I am probably in a bit of a different position because I do know them very personally. But yeah, that's just my personal opinion. So concluding and looking at the on price right now, we are at 82 cents, which is still far from out of the woods. But we did have this pump here from 55 cents to around a dollar, also around when JP's announcement was made. I personally did buy a small bag yesterday already. I shared it in a video yesterday as well at around 68 cents and another one at 57 cents or something like that. So yeah, I will be holding that back until at least the post-mortem comes out, the buyback program and also the earn proposal. And it will be interesting to see if their statement lines up with the conclusion that I just shared from this guy on Twitter. Anyways, let me know what you think. I can already sense that a lot of you are just, yeah, extremely frustrated, extremely angry and feel just, you know, a lot of hate maybe even towards the team, towards their project. And I think that's okay, whatever. I think everyone is entitled to their opinions, to their views. And if you have different convictions, that's fine. I think at the end of the day, what really matters as well is that we respect each other's opinions, right? I think barely anyone, of course, there are scammers out there. Of course, there's people that want to scam you out of your money, that want to harm you, they want to give you false promises just so they can enrich themselves. But I also still truly believe that there's a lot of good, honest actors, people that really want to contribute and build something. And I think as long as I still have this positivity in me, I feel very happy and very proud because I think if I lost that and would only go through the world very negatively, doubting everyone, criticizing everyone and grave dancing on other people just because they're failing, I would not be very happy with myself. But that's just me. I'll hope you enjoy this episode. I hope I'll see you at Cosmoverse. I hope you're still positive and stick around. And I'll see you here very soon on CryptoC2. Until then, stay safe and be good.