A couple of week after publicly sparring over the OM token transition, MANTRA and cryptocurrency alternate OKX have exchanged formal letters hinting at a attainable easing of tensions.
In an open letter printed on Dec. 19 in effectivity. “
In response to a query raised by Mullin relating to the variety of OM tokens of OKX customers and the variety of OM tokens held by OKX, OKX acknowledged that the variety of OM tokens of OKX customers that shall be migrated is 34,097,848 and the variety of $OM tokens of OKX that shall be migrated is 124,441,487.
The alternate requested MANTRA to substantiate that every one $OM tokens on the platform shall be migrated by December 20, 2025, including that that is in line with Marin’s public assertion that MANTRA helps the migration of $OM tokens.
In response, Marin proposed migrating all tokens between January third and fifth, about two weeks later than OKX’s desired schedule, citing considerations about disruption in the course of the year-end holidays.
Transparency calls for and formal warnings
The dispute between the events reached new heights on December twelfth after OKX shared an extended and detailed publish about X about what occurred throughout that point of The OM token, which was labeled as “clarifying the info,” plummeted. It added: “The MANTRA crew continues to advertise deceptive data.” story. “
Final week, Marin publicly questioned OKX’s dealing with of the token migration and demanded disclosure of the alternate’s OM holdings. On December 8, he shared on X that OKX’s transition announcement contained factual errors, claiming that the alternate unilaterally created a particular date with out consulting MANTRA.
OKX responded with a letter requesting MANTRA to implement a transition plan by December twentieth or face delisting proceedings.
MANTRA’s response adopted a extra diplomatic tone in comparison with the earlier week, expressing full help for making certain correct immigration procedures.
Mullin mentioned that MANTRA itself will deal with the migration of 100% of the OM tokens below the management of OKX.
He writes: you Migrate manually for max safety and to make sure that it’s carried out precisely and effectively. The precise course of is the one we use on a number of different exchanges and is tried and examined. ”
He additional outlined an in depth course of that concerned tranches of roughly 20 million OM tokens being despatched to particular EVM addresses, with every batch taking roughly quarter-hour to finish.
As a primary step, Mullin requested the OKX crew to offer the MANTRA addresses they want to use for the proposed migration course of.
Will OKX conform to MANTRA’s proposed transition date?
The present 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 standing of their relationship, it’s presently unclear whether or not OKX will conform to MANTRA’s proposed schedule and their subsequent transfer shall be intently monitored. This can be a creating story.