The exchange rate of the OM token of the Mantra project collapsed by almost 95% in a matter of hours, wiping out billions of dollars and causing panic in the crypto market. Investors are losing money, analysts are sounding the alarm. Against this backdrop, the well-known columnist Dr. Altcoin calls on the Pi Network team to take into account the mistakes of others against the backdrop of the launch of Open Mainnet.
Crash in an Hour and $6 Billion in Losses
On April 14, the cryptocurrency OM, the main token of the Mantra blockchain, plunged from $6 to $0.4 within one hour. Investor losses exceeded $6 billion. Previously, the project was considered one of the most reliable in the real-world asset (RWA) tokenization sector — covering everything from real estate to financial instruments. It was ranked among the top 25 by market capitalization.
Warning for Pi Network
Following the incident, analyst Dr. Altcoin urged the Pi Network team not to repeat Mantra’s mistakes. He reminded that Pi is preparing to transition from Open Network to a full-fledged Open Mainnet — a crucial stage requiring enhanced protection, transparency, and direct communication with users.
According to the analyst, the Mantra collapse should serve as a warning to all: lack of transparency, liquidity risks, and overvaluation can destroy even the most “reliable” projects.
Dr. Altcoin also emphasized that the Pi Network team is taking on new responsibilities with the move to Open Mainnet. He stressed the importance of adhering to security standards and openness at this stage. In his view, OM did not crash due to a single event but as a result of systemic missteps that could have been avoided.
Community Response
Following the publication of the warning, many users on the X platform supported the call for caution, but noted that the Pi Network team appears to be managing the project thoughtfully and steadily.
However, some pointed to the developers’ low public visibility and expressed hope that this is due to their focus on building infrastructure.
Integration With Chainlink
Amid the concerns, Pi Network also had a positive development — the network was integrated into the Chainlink Data Streams ecosystem. This provided network participants with access to real-time price feeds.
