MANTRA CEO JP Mullin recently revealed that the project is going through a tough phase. In a statement on January 14th, it was mentioned that MANTRA has decided to undergo organizational restructuring, including a reduction in team size. Several departments are involved: business development, marketing, human resources, and more.

Regarding the reasons, JP Mullin was straightforward. He directly stated that the events around April 2025 caught the team off guard — the market remained sluggish, competitors became more aggressive, and the market conditions kept changing. These factors combined have made MANTRA’s current cost structure unsustainable.

To put it simply, the expenses haven’t decreased, but the opportunities to generate revenue have shrunk. Therefore, the core purpose of this adjustment is clear: to improve capital efficiency, focus limited resources on the most core businesses, and operate more efficiently.

This situation is not uncommon in the Web3 industry. Many projects expand significantly during bull markets, only to be forced to contract once the market enters a correction phase. MANTRA’s approach, in essence, is to face reality and adapt to the new market environment with a more streamlined team. The effectiveness of this will depend on subsequent execution.