Binance has issued a statement regarding the significant price fluctuations of the MANTRA token (OM). According to their preliminary investigation, the fluctuations were primarily caused by cross-exchange liquidations.
Key Points
- Binance has implemented multiple risk control measures for the OM token since October last year, including reducing leverage levels.
- The exchange will continue to monitor leverage levels and adjust them based on market conditions to strengthen risk control.
- Binance has enabled pop-up alerts on the spot trading page for OM, reminding users of the token's significant changes in its economic model and increased supply.
Binance's Commitment
Binance stated that it will continue to closely monitor the developments and take appropriate actions to:
- Protect user interests
- Maintain the stability and fairness of the platform
This statement aims to provide transparency and reassurance to users regarding Binance's efforts to manage risks and volatility associated with the OM token.