Key Highlights:
- MANTRA challenges OKX to reveal what number of OM tokens are held by customers and the change.
- OKX despatched a proper letter questioning this request, demanding readability on OM migration and warning it might pursue authorized choices if harmed.
- This battle shifts the OM migration right into a public standoff.
A public conflict has damaged out between crypto change OKX and MANTRA, the blockchain challenge behind the OM/SOM token migration. The problem began when MANTRA council member JP Mullin posted a two-page authorized model letter from OKX on social media platform X.
The letter, dated December 10, 2025, questions Mullin’s earlier public feedback about OM tokens that OKX holds and raises considerations about how MANTRA is dealing with its ongoing token migration. OKX says it needs to “work constructively” with MANTRA and makes it clear that Mullin’s posts will not be essentially seen as official MANTRA statements.
Expensive OKX,
I’ve acquired your letter on December tenth, 2025. For transparency for our group, I’m sharing the contents of the letter in my response. Let me state that we’re honest in supporting the migration, and the solutions to your questions in paragraph 4 are as… pic.twitter.com/YhL0plp0QZ
— JP Mullin (🕉, 🏘️) (@jp_mullin888) December 12, 2025
The change additionally warns that it might probably take authorized actions if it feels MANTRA’s feedback or determination hurt OKX or impacts the token balances of its customers.
ERC-20 OM Deprecation and Migration Time
The primary challenge between OK and MANTRA comes from MANTRA’s plan to close down the previous ERC-20 model of its OM token and absolutely transfer to the brand new MANTRA Chain-native OM. MANTRA has advised customers that they need to migrate their ERC-20 tokens by January 15, 2026.
Any tokens left unmigrated might be thought of forfeit and brought again by the MANTRA Chain Affiliation, they usually might select to burn them or use them for group initiatives.
In his reply to OKX, JP Mullin assures the group that MANTRA is able to work with the change so that each one OM tokens may be migrated easily. He additionally shares what comes subsequent within the roadmap.
After the January 15 deprecation deadline, MANTRA will roll out a series improve together with a 1:4 token cut up. Which means that the full provide, and each person’s stability, might be multiplied by 4. The chain can even change its gasoline unit from uOM (6 decimals) to aMANTRA (18 decimals).
Extra importantly, customers received’t have to do something themselves for this explicit improve. Exchanges would be the ones that might be dealing with all of the modifications on their aspect, and the brand new balances will merely seem as soon as the transition is full.
OKX Calls for Clarification on Migration Mechanics
On this letter, the change asks MANTRA to spell out precisely how and when the upcoming OM token redenomination will occur, The exchanges needs a full timelines, as to when the on-chain proposal might be finalized, the precise date the improve will go stay and whether or not customers balances will replace robotically. The change additionally asks whether or not folks might want to work together with any good contract throughout the SOM/OM redenomination.
OKX then focuses on the governance aspect, pushing MANTRA to clarify how “Proposal 26” will truly be carried out. The change offers MANTRA a most well-liked deadline of December 15, 2025 to supply these particulars.
In its public response, MANTRA clarifies that the whole course of will occur on the protocol stage by way of the Financial institution module, which implies that no good contract actions are wanted. It additionally says exchanges simply have to observe their regular process which is to shut OM buying and selling pairs, look forward to the improve, after which reopen markets underneath the brand new MANTRA ticker as soon as the redenomination is full.
How Many OM Tokens Does OKX Maintain?
The largest level of battle is MANTRA asking the change to disclose two numbers, one among them is asking what number of OM tokens belong to OKX’s customers and second, what number of OM tokens OKX holds for itself.
Mullin says MANTRA at all times verifies the supply of enormous OM actions for compliance causes, particularly when an change is perhaps the precise proprietor.
OKX argues that this has nothing to do with the migration course of and questions the necessity for such disclosure, warning it might take authorized motion if MANTRA’s insurance policies trigger hurt.
Either side declare to behave in good religion, however the dispute reveals rising stress for transparency as token migrations turn out to be extra frequent.
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