Mantra has attributed the recent crash of its OM token to factors affecting the broader cryptocurrency industry. CEO John Mullin emphasized the need for exchanges to reconsider their leverage policies, highlighting that aggressive leverage positions could lead to widespread liquidation cascades. In a call for industry cooperation, Mantra seeks to address investor risks and improve market stability. The company announced its plans to enhance governance on the Mantra chain by diversifying its validators and has committed to a reduction of internal validators by half by the end of Q2 2025. Additionally, Mantra has burned a significant number of tokens to decrease total supply and has introduced a real-time dashboard for transparency. Despite the price volatility, the Mantra chain continued operations seamlessly during peak transaction volumes. Cointelegraph reached out to several exchanges for comments but did not receive a response by publication time. This remains a developing story.

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