Subject: MANTRA Community Update: Strengthening Trust and Building Resilience
Dear MANTRA Community,
Over the past two weeks, our team has been diligently focused on developing and implementing tangible solutions to rebuild trust within the MANTRA ecosystem. Today, I had the opportunity to share our progress and outline our upcoming actions at TOKEN2049 in Dubai, and I am pleased to share these updates with you all:
1. Governance Enhancements:
We are implementing significant improvements to the governance structure of MANTRA Chain, prioritizing decentralization. To this end, we are actively accelerating our validator diversification strategy. This includes a phased reduction of internal validators, complemented by the strategic onboarding of additional support partners. Our objective is to reduce the number of internal validators by 50% and onboard a total of 50 external partner validators by the end of Q2 2025.
2. Enhanced Transparency Initiatives:
In response to the recent price volatility, we promptly launched a real-time dashboard providing comprehensive public information regarding our tokenomics. This dashboard, which was instrumental during our internal investigation, will remain a permanent resource for our community. We are committed to ongoing enhancements to this platform to ensure continued transparency.
3. OM Token Burn Completion:
As previously communicated, I have executed the burn of 150 million of my staked OM tokens. This action permanently removes these tokens from the total supply, underscoring my unwavering commitment to this project, our recovery, and the critical mission of rebuilding trust within our community. I believe this represents a significant step forward in achieving that goal.
4. Technical Resilience and Innovation:
Despite the recent challenges, MANTRA Chain demonstrated robust operational resilience, maintaining uninterrupted service throughout the period of high transaction volumes following the price drop. Building upon this foundation and our continuous focus on resilience and risk mitigation, we have launched OMSTEAD, our MANTRA Chain EVM testnet, which is currently in Alpha testing.
5. Industry-Wide Call to Action for Market Stability:
The recent events highlight a broader systemic risk within the cryptocurrency industry. The prevalence of policies that permit aggressive leverage positions can create substantial liquidation cascades, impacting not just individual projects but the wider market. MANTRA is actively engaging with major exchanges to explore collaborative solutions for enhancing market stability. Furthermore, we extend a call to action to the entire industry to contribute insights and collaborate on how exchange policies can be refined to minimize or address practices that introduce undue risk to investors.
We are steadfast in our commitment to the MANTRA community and are confident that these decisive actions will contribute to a stronger, more transparent, and resilient future for our ecosystem. We appreciate your continued support and trust.
Sincerely,
[Your Name/MAN
TRA Leadership]$MANA
