$OM , part of the MANTRA platform, has witnessed significant developments recently, especially after the sharp collapse in April 2025.
📉 Price Collapse by 90%
On April 13, 2025, the OM currency experienced a sharp decline of 90%, dropping from around $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 sell-offs.
In response to the crisis, the founder of MANTRA announced the burning of 150 million OM tokens from his personal holdings, aiming to reduce supply and restore investor confidence. A plan was also announced to burn an additional 300 million tokens, reflecting the team's commitment to rebalancing the market.
🛠️ Measures to Enhance Transparency
MANTRA launched a public dashboard to display toknomixt data in real-time and initiated a new test network called OMSTEAD to enhance technical resilience. The platform also called for industry collaboration to reevaluate leverage policies in exchanges, aiming to reduce systemic risks.
🤝 Strategic Partnerships
In an effort to build trust, MANTRA announced partnerships with Google Cloud, which has become the largest auditor of 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.
