$OM

REPOST:

1) Sherpas, OMies, and the broader crypto community,

First and foremost, the team and I deeply appreciate the support we have received in the last few hours, which we believe is a testament to the strong backing that MANTRA has among its investors and community.

We have determined that the market movements of OM were triggered by reckless forced liquidations initiated by centralized exchanges on OM account holders. The timing and depth of the drop suggest that a very sudden liquidation of account positions was initiated without sufficient warning or notification.

The fact that this happened during low liquidity hours on a Sunday night UTC (early morning in Asia) points to a degree of negligence, at best, or possibly an intentional market position taken by centralized exchanges.

Partners from centralized exchanges play a crucial role in providing liquidity to projects like ours. We work closely with them; however, they continue to exercise extremely high levels of discretion. When discretionary powers are exercised without proper internal and external oversight, displacements like the one that recently occurred can and will happen, harming both projects and investors.

To be clear, this displacement was not caused by the team, the MANTRA Chain Association, its main advisors, or by MANTRA investors selling tokens. The tokens remain locked and subject to the published vesting periods. The tokenomics of OM remains intact, as shared last week in our latest token report. Our token wallet addresses are online and visible.