About a week after publicly sparring over the OM token transition, MANTRA and cryptocurrency exchange OKX have exchanged formal letters hinting at a possible easing of tensions.
In an open letter published on Dec. 19 in efficiency. “
In response to a question raised by Mullin regarding the number of OM tokens of OKX users and the number of OM tokens held by OKX, OKX stated that the number of OM tokens of OKX users that will be migrated is 34,097,848 and the number of $OM tokens of OKX that will be migrated is 124,441,487.
The exchange asked MANTRA to confirm that all $OM tokens on the platform will be migrated by December 20, 2025, adding that this is consistent with Marin’s public statement that MANTRA supports the migration of $OM tokens.
In response, Marin proposed migrating all tokens between January 3rd and 5th, about two weeks later than OKX’s desired schedule, citing concerns about disruption during the year-end holidays.
Transparency demands and formal warnings
The dispute between the parties reached new heights on December 12th after OKX shared a long and detailed post about X about what happened during that time of The OM token, which was labeled as “clarifying the facts,” plummeted. It added: “The MANTRA team continues to promote misleading information.” story. “
Last week, Marin publicly questioned OKX’s handling of the token migration and demanded disclosure of the exchange’s OM holdings. On December 8, he shared on X that OKX’s transition announcement contained factual errors, claiming that the exchange unilaterally created a specific date without consulting MANTRA.
OKX responded with a letter requesting MANTRA to implement a transition plan by December 20th or face delisting proceedings.
MANTRA’s response adopted a more diplomatic tone compared to the previous week, expressing full support for ensuring proper immigration procedures.
Mullin said that MANTRA itself will handle the migration of 100% of the OM tokens under the control of OKX.
He writes: you Migrate manually for maximum security and to ensure that it is performed accurately and efficiently. The exact process is the one we use on several other exchanges and is tried and tested. ”
He further outlined a detailed process that involved tranches of approximately 20 million OM tokens being sent to specific EVM addresses, with each batch taking approximately 15 minutes to complete.
As a first step, Mullin asked the OKX team to provide the MANTRA addresses they would like to use for the proposed migration process.
Will OKX agree to MANTRA’s proposed transition date?
The current friction has reopened the wound from April. 2025, When OM crashed over 90% in a matter of hours, wiping out over $5 billion in market capitalization.
Given the status of their relationship, it is currently unclear whether OKX will agree to MANTRA’s proposed schedule and their next move will be closely monitored. This is a developing story.
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