The Decentralized Finance Platform (Defi) Mantra has asked for cooperation throughout the industry to reduce the risks of investors after its Token OM accident.
On April 30, Mantra published his latest update from the sudden collapse of his Token Om, claiming that the incident was “bigger than mantra.”
“The liquidation waterfalls could happen with any project in the cryptographic industry,” warned the CEO of Mantra, John Mullin, in the position, pointing to the role of “aggressive leverage positions” in exchanges as a broader threat to investor safety.
“We are cooperating with the main exchanges to improve market stability, and we are asking the rest of our industry to provide information on how exchange policies can minimize, or continue allowing policies that create risks to investors,” says the update.
Progress includes government improvements
In addition to calling global centralized exchanges to review their leverage policies, Mantra listed some key solutions after the OM accident.
The first point referred to governance improvements to the mantra chain with an focus on decentralization. Mantra has pledged to accelerate his efforts of diversification of validator by reducing internal validators and adding more support partners.
Related: Mantra presents a $ 108 million fund to support the real -world asset token
“At the end of the second quarter of 2025, we will have internal reducers reduced by half and 50 validators of total external partners,” says the update.
In addition, the update mentioned that Mantra has burned 150 million tokens OM staked, permanently eliminating them from the total supply.
To improve transparency, Mantra has entered a real -time board with tokenomic data. Afa has also begun to test a new test network compatible with the Ethereum virtual machine called WHOstead, with the aim of improving technical resilience.
The publication stressed that the mantra chain continued to work without interruption during the fall in prices, even with transaction volumes in historical maximums.
Cointelegraph contacted Mantra and exchanges, including Binance and OKX, for comments on the call to the action of the entire mantra industry, but did not receive an answer by publication.
This is a development story, and more information will be added as available.
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