The recent collapse of the Mantra (OM) token triggered comparisons to the infamous Terra ecosystem crash in May 2022, with some commentators referring to Mantra as the “next Terra.” Still, many in the community argue that the two projects share nothing in common besides visual similarities in price charts.
“While it’s tempting to draw parallels between OM’s recent crash and the Terra Luna collapse, they’re fundamentally very different events,” said Ben Yorke, vice president of ecosystem at the decentralized finance (DeFi) project Woo, in a statement to Cointelegraph.
Alexis Sirkia, chairman of the DeFi infrastructure project Yellow Network, agreed. “There are no real similarities apart from the visual of the price dropping,” he said.
Visual similarity — different numbers
Mantra’s OM token dropped 92% on April 13, dropping from over $6 to around $0.52 within hours. According to data from CoinGecko, OM lost