MANTRA’s OM token is in the middle of a governance-approved chain upgrade and rebrand, and that migration has prompted several derivatives venues — most recently Coinbase Advanced and Coinbase International Exchange — to temporarily halt OM perpetual futures trading.
Why trading was paused
- The suspension is a precaution tied to the planned protocol transition, not a protocol failure or security incident.
- MANTRA’s upgrade restructures how OM operates across chains, a change that can include redenominations, ticker updates or cross-chain mechanics that alter the token’s on-chain representation.
- Perpetual futures rely on a continuous, unambiguous price feed, uninterrupted settlement and a consistent underlying asset. When the token’s denomination or ticker might change, exchanges pause perpetuals to avoid pricing disputes, settlement errors or contract mismatches.
- Because perpetuals are leveraged and settle continuously, they’re more vulnerable to these structural changes than spot markets. Spot trading and custody services are typically handled separately and may remain live or be restored sooner.
Market reaction
- The pause coincided with heightened price moves in OM as traders trimmed leverage ahead of the upgrade. As of writing, OM traded near $0.067, up more than 5% on the session (source: TradingView).
- That bounce reflects short-term positioning around the known upgrade event and should not be read as confirmation that the market has fully priced the migration risk.
Takeaway
- Exchanges’ suspensions of perpetuals in this context are risk-management steps rather than delisting signals. Watch official MANTRA governance channels and exchange notices for timing and technical details before trading leveraged products on OM.
Disclaimer: This article is informational and not investment advice. Crypto trading is high risk — do your own research. © 2026 AMBCrypto
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