Mantra, a decentralized finance platform, has attributed the recent crash of its OM token to risky practices within the cryptocurrency exchange industry. CEO John Mullin emphasized that the issues extend beyond Mantra, highlighting the dangers posed by aggressive leverage policies on exchanges, which could threaten investor safety widely across the sector. In light of the crisis, Mantra is advocating for improved cooperation among exchanges to bolster market stability and minimize risks for investors. As part of the response to the OM token collapse, Mantra plans to enhance governance within its ecosystem, particularly by diversifying validators and reducing reliance on internal ones. Additionally, the platform has implemented transparency measures, including a real-time dashboard with tokenomics data and is testing a new testnet designed to improve resilience. Despite the challenges, the Mantra chain continued to operate without disruption during the price decline, maintaining high transaction volumes.

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