The firmware update to 12S, which is as we know Lollipop-based, is now in its final testing with Cyanogen and third parties to get standards set by Google to retain Play Services.
The OTA update is based on Android 5.0.2. And because there is a lot envolve there is no information about the release date yet. But we will keep you posted on that.
The following message it’s on Cyanogen Twitter:
This is unrelated to OnePlus’s recent announcement that they will be developing their own software called Oxygen OS. Despite Cyanogen will probably no longer be OnePlus partner don’t worry because there will be support for your device with this OS.