What should have been a routine token migration announcement has instead spiraled into a public standoff between Mantra and crypto exchange OKX, after Mantra accused the platform of sharing misleading information.
Instead of celebrating exchange support, Mantra’s leadership took to X with an unexpected directive: don’t leave your OM tokens on OKX. CEO John Patrick Mullin argued that users should not rely on the exchange for the upcoming migration, hinting at either negligence or intent behind OKX’s handling of the process.
Key Takeaways
Mantra urged OM holders to withdraw tokens instead of trusting OKX.
The rift centers on OKX publishing migration dates Mantra disputes.
Mantra claims OKX hasn’t engaged with the project since April.
The friction emerges as OM shifts to a native Mantra Chain token.
Mullin positioned the message less as a technical advisory and more as a trust issue — urging users to self-custody rather than depend on what he portrayed as an unreliable intermediary.
What Triggered the Explosion? A Timeline Dispute
The conflict traces back to OKX announcing that the OM swap would occur between December 22 and 25. Mantra countered that this timeline simply does not exist. Governance documents show the migration cannot take place until after January 15, when the Ethereum-based OM token officially expires.
Beyond that, Mullin claimed OKX cited unspecified implementation windows deep into December 2025 — something Mantra says it never communicated.
Communication Breakdown Adds Fuel
According to Mullin, OKX has remained silent toward Mantra for months, even as other large exchanges coordinated directly with the project ahead of the migration. He referenced an unresolved incident on April 13 and suggested OKX stopped engaging ever since.
This breakdown comes at a critical moment for Mantra’s ecosystem, as OM transitions from its Ethereum format into a token native to Mantra Chain — a technical shift that usually requires tight coordination with custodians and trading venues.
Users and Markets Left Guessing
The dispute leaves OM holders facing contradictory information: OKX is signaling imminent migration while Mantra is warning users to avoid relying on the exchange entirely. The result is uncertainty over a process meant to enhance Mantra Chain’s self-sovereignty.
OKX has not responded publicly to the allegations. Industry watchers say this spat may serve as a case study in how misalignment between exchanges and token issuers can spread confusion — especially during migrations that require synchronized timing.
