Company MANTRA and Company OKX Exchange Move Toward Manual OM Token Migration After Public Dispute

A public dispute between Company MANTRA and Company OKX over the migration of the OM token has taken a conciliatory turn as the two parties exchanged formal letters that could ease tensions. In an open letter on X dated December 19, Mr. John Patrick Mullin, CEO of Company MANTRA, proposed that Company MANTRA handle the migration manually "for maximum safety and assurance that it will be conducted with accuracy and efficiency."

The sequence of public posts and letters follows a dispute in early December when Company OKX published a detailed post it labeled as an effort to "clarify the facts" around an OM token crash and migration plan. That post accused Company MANTRA of pushing a "misleading narrative," while Mr. John Patrick Mullin publicly questioned Company OKX's migration timeline and demanded transparency about the exchange's OM holdings.

Company OKX answered with concrete numbers and a demand: the exchange reported that the number of Company OKX users' OM tokens to be migrated is 34,097,848, and the number of Company OKX's own OM tokens to be migrated is 124,441,487. Company OKX called on Company MANTRA to confirm by December 20, 2025, that all OM tokens on the exchange will be migrated, warning that failure to do so could trigger delisting procedures.

Company MANTRA's reply adopted a more diplomatic tone. Mr. John Patrick Mullin offered to migrate 100% of the OM tokens under Company OKX's control, proposing a manual migration schedule between January 3 and 5 — approximately two weeks later than Company OKX's preferred timeline — citing concerns about holiday-related disruptions. He described a tried-and-tested process used with other exchanges: migration in tranches of ~20 million OM tokens per batch, each taking roughly 15 minutes to complete, sent to a specific EVM address. As a first step, he requested that Company OKX provide the MANTRA address it wishes to use for this process.

The dispute has historical context. The friction has reopened wounds from April 2025 when OM plunged by more than 90% within hours, erasing over $5 billion in market capitalization. That crash, and the subsequent scrutiny of migration procedures, have heightened the need for transparent coordination between projects and exchanges.

Key implications for market participants include heightened counterparty risk on centralized exchanges, potential liquidity and price impact during migration windows, and reputational consequences if migration timelines are not clearly communicated. Company OKX's stated migration deadline and threat of delisting add market pressure; Company MANTRA's preference for a slower, manual approach prioritizes security and accuracy over speed.

For traders and holders of OM tokens, close attention should be paid to the migration schedule, official confirmations from both Company MANTRA and Company OKX, and any updates posted to X. The next moves — whether Company OKX accepts Company MANTRA's proposed dates or insists on an earlier timeline — will determine where short-term price and liquidity pressures manifest.

This remains a developing story. Market watchers and OM holders should monitor the official statements from Company MANTRA, Company OKX, and related communications. For context on trading platforms, see Company Bybit where promotions and trading options are often advertised, though migration logistics are controlled by the token issuer and the exchange hosting balances.