- OKX and MANTRA engaged in a public dispute over OM token migration.
- MANTRA CEO raised concerns over OM tokens held by OKX.
- OKX says it intends to “work constructively” with MANTRA in the migration program.
The ongoing dispute between OKX and MANTRA escalated on Friday, December 12, following a public exchange between both parties. MANTRA CEO JP Mullin posted a detailed response on X, addressing a legal-style letter that OKX issued to the company. According to Mullin, MANTRA is pursuing transparency in the ongoing dispute.
OKX Threatens Potential Legal Action Against MANTRA
OKX had raised concerns over Mullin’s comments about OM tokens held by OKX and how the blockchain project is handling its ongoing token migration. According to OKX, it wants to “work constructively” with MANTRA. The crypto exchange also noted that it did not consider the initial post by Mullin as the blockchain firm’s official position on the matter, while warning that it can take legal actions if it considers MANTRA’s comments or decisions potentially harmful.
The main issue between the “warring” parties concerns MANTRA’s plan to shut down the ERC20 version of its OM token and replace it with the new MANTRA Chain-native OM. According to MANTRA’s program, the migration process will end on January 25, 2026, with users who fail to migrate to the new protocol forfeiting their tokens, which the MANTRA Chain Association will retrieve.
MANTRA CEO Says The Project is Ready to Work With OKX
In the meantime, Mullin assured the MANTRA community of the project’s readiness to work with OKX for the smooth migration of all tokens. He further noted that following the January 15 deadline, MANTRA will roll out a chain upgrade with a 1:4 token split. It is a process that will multiply the token’s total supply and every user’s balance by four. Additionally, MANTRA Chain will switch its gas unit from uOM (6 decimals) to aMANTRA (18 decimals).
It is worth noting that OKX’s letter to MANTRA was strong-worded and accused Mullin of encouraging users to withdraw their OM tokens from the exchange. OKX considered such comments derogatory and warned the MANTRA CEO to desist from further allegations.
Related Article: OM Price Wobbles as Mantra Chain Liquidity Migration Launches Full RWA Pivot
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Source: https://coinedition.com/okx-and-mantra-disagree-publicly-over-om-token-migration-procedure/
