🤔 The Mantra team stated they didn’t sell any tokens, and what happened might point to negligence or even deliberate actions by exchanges.

Binance is aware that OM, the native token of MANTRA, has experienced significant price volatilities. Our initial findings indicate that the developments over the past day are a result of cross-exchange liquidations.

Since October of last year, Binance has implemented various risk control measures including reducing the leverage levels, with regard to the OM token. Binance constantly monitors leverage levels and makes adjustments according to market conditions for risk controls to help reduce volatility.

Since January this year, Binance has also issued a pop-up warning for OM on its spot trading page to inform users that the token has undergone significant changes to its tokenomics increasing its supply. We have now updated the risk warning to inform users the token price is subject to high volatility.

We remain dedicated to monitoring the situation closely and will continue to take appropriate actions to protect our users and maintain the integrity of our platform. Thank you for your continued trust in Binance.

This is a pivotal moment in PAWS’ transformation from a popular social app to a true Web3 ecosystem, and we’re committed to building a robust, accessible community that injects value rather than extracting it.