$OM , part of the MANTRA platform, has witnessed significant developments recently, especially after the sharp collapse in April 2025.
📉 Price Collapse of 90%
On April 13, 2025, the OM currency experienced a sharp decline of 90%, dropping from approximately $6.32 to $0.49 within minutes. This collapse is attributed to forced liquidations due to excessive leverage in a low liquidity market, leading to a series of forced selling.
In response to the crisis, the founder of MANTRA announced the burning of 150 million OM tokens from his personal holdings, aimed at reducing supply and restoring investor confidence. A plan was also announced to burn an additional 300 million tokens, reflecting the team's commitment to restoring market balance.
🛠️ Measures to Enhance Transparency
MANTRA launched a public dashboard to display toknomixt data in real-time and introduced a new test network named OMSTEAD to enhance technical resilience. The platform also called for industry collaboration to reassess leverage policies in exchanges, with the goal of reducing systemic risks.
🤝 Strategic Partnerships
In an effort to build trust, MANTRA announced partnerships with Google Cloud, which became the largest auditor on its network, and with the UAE's DAMAC Group to tokenize assets worth one billion dollars. These partnerships aim to support infrastructure and increase the project's credibility in the market.
