Bankruptcy Claims Exchange OPNX Issues New Governance Token, FLEX Rises 16%

Bankruptcy claims speech OPNX has issued a caller governance token dubbed "Open Exchange token" (OX), which is designed to trim trading fees connected the platform.

The platform's existing autochthonal token, FLEX, surged by 16% aft it was revealed successful the whitepaper that FLEX tin beryllium converted for OX astatine a ratio of 1:100.

OX is an ERC-20 token with a maximum proviso of 9.86 billion. At property clip astir 100 radical person either minted oregon bought the asset, according to etherscan.

OPNX was disconnected to a unsmooth commencement aft going unrecorded successful April. The speech was co-founded by CoinFLEX executives and Kyle Davies and Su Zhu, the 2 radical down defunct hedge money Three Arrows Capital (3AC). 3AC near a monolithic spread successful the crypto ecosystem aft it went bust past year.

Trading measurement and consequent liquidity connected the level failed to inspire successful the archetypal weeks arsenic it stumbled retired of the blocks. Buoyed by the merchandise of OX, however, OPNX surged to a grounds precocious of $17 cardinal successful trading measurement implicit the past 24 hours.

Similar to speech tokens similar FTT and BNB, which fundamentally enactment arsenic a prepayment of trading fees, OX holders volition person incremental discounts comparative to however overmuch trading measurement they execute connected the platform.

The OX token was trading astatine $0.0115 with a marketplace headdress of $7.7 million, based connected a calculation utilizing circulating proviso fig connected the flexstatistics website.