A major stir in the Crypto industry recently occurred when the native token OM of the Decentralized Finance (Defi) Platform Mantra was a huge fall. This unauthorized price drop raised serious questions about risk management, leverage trading and transparency in the industry. Mantra has described it as not only a company problem but a warning for the entire industry and called for a collaborative effort.
Om Token Accident, A Systematic Warning
13 April fell in Om Token Worth, causing heavy losses to investors. Mantra’s CEO John Mallin said that it not only highlights the weeks of the entire Defi Business, but not of his project. He blamed the “aggressive leverage positions” behind this decline, which gives permission to investors on various exchanges to take access to accessive risk.
Appeal to cooperation from exchanges
Mantra has requested major crypto exchanges to review their leverage policies and understand that such policy can pose risks for the entire industry. Although Mantra did not name a particular exchange, but there is speculation about OKX on social media.
Steps towards governance and decentralization
Mantra (OM) Token Accident After Mantra has started work towards improvement of governance of its blockchain and more decentralization. The company has announced that the number of internal validators will be halved by Q2 in 2025 and 50 external partner validator will be added. This will make the network more secure and transparent.
Token burn and transparency
Mantra has permanently burn 15 million Om Token, which has reduced the total supply of tokens. Also, the company has launched a real-time dashboard that provides investors in the status and supply information transparent manner.
Omstead Testnet for Technical Strength
From technical perspective, Mantra has launched a new Ethereum Digital Gadget (EVM) -SUITABLE TESTNET called “Omstead”. This testnet is designed to check and improve the strength of the system. The most important thing is that despite the heavy transaction volume, Mantra’s blockchain continued to work without any hindrance.
Conclusion
Mantra’s response shows that the Crypto industry will now unite and focus on policy making, risk management and transparency. While the silence of exchanges is a matter of concern, there Mantra’s CEO described Om Coin Medication as the top priority And taking the right step towards recovery, this is the first attempt. If the entire industry does not take this warning seriously, then even more serious crash can be seen in the future.
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