For the past two weeks, our team has worked to develop and execute concrete solutions that will rebuild trust within the MANTRA community. Today, I shared our progress and upcoming actions onstage at TOKEN2049 in Dubai, and I want to share them here for everyone;

1. Governance Improvements

We're making significant governance improvements to MANTRA Chain with a focus on decentralization. We’re accelerating our validator diversification efforts by winding down internal validators while adding more support partners. By the end of Q2 2025, we'll have reduced internal validators by half and onboarded 50 total external partner validators.

2. Enhanced Transparency

‍Immediately after the price drop, we published a real-time dashboard to provide public information on tokenomics as we continued our own investigation. This dashboard will remain live for our community, with further improvements planned.

3. OM Token Burn

‍As promised, I've completed the 150 million burn of my staked OM tokens, permanently removing them from total supply. I am committed to this project, to our recovery, and to rebuilding trust within our community, and I hope and believe this action represents a significant move toward that mission.

4. Technical Resilience

‍Despite the challenges we've faced, MANTRA Chain continued to operate without interruption during the price drop, even with transaction volumes at all-time highs. Additionally, with a continued focus on resilience and risk-mitigation, we’ve launched OMSTEAD, our MANTRA Chain EVM testnet currently in Alpha. ‍

5. Industry-Wide Call to Action

‍This is bigger than MANTRA: Liquidation cascades could happen to any project in the crypto industry. Policies that allow aggressive leverage positions create substantial systemic risk. We’re cooperating with major exchanges to improve market stability, and we’re calling on the rest of our industry to provide input on how exchange policies can minimize (or continue to permit) policies that create risk to investors. 

The path ahead requires methodical, transparent rebuilding. We're designing systems that both significantly reduce the risk of similar incidents and also create a fundamentally more decentralized protocol and token.

I want to thank our community members who have provided valuable feedback during this challenging period. Your insights have helped guide our recovery strategy.

We have a long road ahead to rebuild from an incident that hurt us and hurt our project. With these concrete actions and continued transparency, I remain confident we’ll come out stronger.

JPM
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