- Three Arrows Capital founders launch Open Exchange for trading bankruptcy claims.
- OPNX introduces governance token, OX, resulting in 16% increase in FLEX value.
- OX token offers reduced trading fees, staking fee discounts, and free trading for life.
The founders of the now-defunct hedge fund Three Arrows Capital have launched a new platform called Open Exchange (OPNX), which facilitates the trading of bankruptcy claims. Recently, OPNX introduced its governance token, the Open Exchange token (OX). This move has resulted in a significant 16% increase in the value of OPNX’s native token, FLEX. The introduction of OX is a noteworthy development for OPNX, and it will be interesting to see how this new token impacts the platform’s future growth and success.
OPNX has recently released a whitepaper detailing the benefits of their new governance token. The OX token will provide its holders with reduced trading fees on the bankruptcy claims platform while offering staking fee discounts to those who engage in the platform’s governance. This innovative feature has been designed to recognize traders as essential partners of OPNX, ensuring their active participation in the platform’s decision-making processes. With the OX token, OPNX is committed to providing its users with a seamless and cost-effective trading experience.
As the whitepaper outlines, OPNX has devised a clever strategy to reward traders who stake a substantial amount of OX tokens with free trading for life. This innovative token model encourages increased staking and trading activity on the recently launched platform. Additionally, all trading fee rebates will be distributed to traders as OX tokens, further incentivizing participation in the OPNX ecosystem.
As per the tokenomics of OX, the governance token is set to have a maximum supply of 9.86 billion. This cap is based on the maximum supply of FLEX, the native token of OPNX, after deducting the number of FLEX tokens that have been burned so far. In addition, FLEX tokens can be converted into unstaked OX at a ratio of 1:100. Furthermore, the tokenomics offer a lucrative incentive for traders. If the amount of OX staked by a trader exceeds their trading volume percentage, they are entitled to a 100% rebate. These measures ensure a fair and transparent system for all stakeholders involved.
According to Etherscan’s data, the governance token has been either purchased or minted by 116 investors as of now. CoinMarketCap’s data reveals that OX debuted today at $0.012 but has experienced a 4% drop, currently trading at $0.011. On the other hand, FLEX has witnessed a 16% surge in the past 24 hours, reaching a 4-week high of $1.12.
