Mantra links OM token crash to risky crypto exchange policies
Mantra, a decentralized finance (DeFi) platform, has called for industry cooperation to mitigate investor risks following the collapse of its OM token. CEO John Mullin emphasized that liquidation cascades pose a threat to the entire crypto industry due to aggressive leverage positions on exchanges. Mantra is collaborating with major exchanges to enhance market stability and is urging the industry to review exchange policies that create investor risks. Key solutions proposed include governance improvements focused on decentralization, with plans to reduce internal validators by half and onboard 50 external partner validators by Q2 2025. Mantra has burned 150 million staked OM tokens and introduced a real-time dashboard for transparency. The platform's chain operated without interruption during the price drop, despite record transaction volumes.
