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OPNX Review

OPNX Review

Explore OPNX, the crypto platform revolutionizing the management of bankruptcy claims through tokenization. Learn how it offers liquidity, backed by industry leaders.

Summary: OPNX, or Open Exchange, is a financial platform specialising in tokenizing claims stuck in bankruptcy proceedings. This innovation offers instant liquidity for bankruptcy claims like the recent FTX collapse. Backed by industry veterans Su Zhu and Kyle Davies, OPNX has quickly expanded its asset range and gained significant attention.

With a diverse list of over 40 assets and its native OX Token offering multiple benefits, OPNX aims to be a game-changer in the world of crypto trading. The platform prioritizes transparency and has a strong focus on security.

OPNX Review
4.5 out of 5.0 by Datawallet
OPNX is a crypto platform that tokenizes claims trapped in bankruptcy proceedings, offering instant liquidity and crypto market trading opportunities.
Available Markets
40+ Crypto Assets and Claims (e.g. FTX Claims)
Native Exchange Token
OX Token (APR 155%)
Founders
Mark Lamb, Leslie Lamb, Su Zhu and Kyle Davies

Open Technology Markets Ltd. ("OPNX") is an incorporated company and registered with the Republic of Seychelles under the International Business Companies Act of 2016.

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What is OPNX?

Open Exchange (OPNX) is a digital asset exchange designed to provide a solution for individuals who have claims trapped in bankruptcy proceedings. The platform aims to tokenize these claims, offering immediate liquidity and the ability to trade in the crypto market. OPNX is built to serve over 20 million users with around $20 billion of claims stuck in such proceedings.

The platform has gained significant traction due to the endorsement from industry leaders Su Zhu and Kyle Davies, previously associated with Three Arrows Capital. Staying attuned to community needs, the exchange has swiftly added new assets such as UNIBOT, Rollbit, and HarryPotterObamaSonicInu10. This proactive approach has captured the interest of influential figures in the Crypto Twitter-sphere. Additionally, OPNX also offers a standard crypto spot and perpetual exchange, broadening its appeal to a diverse range of traders.

OPNX Review

How do OPNX Claims Work?

OPNX has partnered with Heimdall, a real-world asset tokenization solution provider, to manage the onboarding, verification, and tokenization of claims. Here is a quick summary of how they work:

  1. Tokenization of Claims: OPNX allows users to convert their claims into Reborn OX (reOX) tokens. These tokens can be used as collateral for trading in the crypto market.
  2. Automated Onboarding: The platform offers a streamlined process for claim onboarding, avoiding the fragmented and costly OTC trading process.
  3. Trading and Liquidity: Users can sell their FTX claims for oUSD, a liquid dollar-denominated asset. This oUSD can be used for trading, converted to USDT, or even staked for yield in oUSD vaults.
  4. Incentives: Early claimants can receive benefits like free two-month trading and VIP Level 6 trading status for six months.

Available Markets on Open Exchange

OPNX boasts a diverse range of over 40 assets that are accessible through both their spot and perpetual trading platforms. What sets OPNX apart is its inclusion of unique tokens that are generally only found on-chain, such as Worldcoin (WLD) and BITCOIN (hpos10i). Additionally, the platform offers more exotic markets like MOG and UNIBOT, as well as the opportunity to trade FTX claims. 

This extensive asset selection caters to a wide array of traders, from those looking to diversify their portfolios with mainstream assets to those interested in exploring niche markets.

OPNX Exchange Perps

What is the OX Token? 

The OX Token is the native utility token of the OPNX platform, serving as a key element in its multifaceted ecosystem. The token offers a variety of utilities and benefits within the platform:

  • Staking Rewards: OX Tokens can be staked in the "Herd," OPNX's dedicated staking and governance platform, to earn an impressive APR yield of 155.98%.
  • Trade for Free: Staking OX Tokens enables users to trade on the platform without any fees, and it even offers a bonus staking multiplier of up to 12x for more free trading.
  • Earn Rewards: Users who stake OX Tokens in the Herd are eligible for reward airdrops from OPNX Launchpad projects.
  • Use as Collateral: The staked OX Tokens can be leveraged as collateral to trade crypto futures on OPNX.
  • Multi-Blockchain Support: OX Tokens are supported on various blockchains, including Etherscan, Polygonscan, ArbiScan, and BSCScan, enhancing its accessibility and utility.

The OX Token is engineered to provide users with a plethora of advantages, making it an indispensable component of the OPNX ecosystem.

OX Token

OPNX Team and Founders

The OPNX team is spearheaded by Co-Founder Mark David Lamb, who best known as the founder of CoinFlex. You can follow him on Twitter for insights and updates. Leslie Lamb serves as the CEO and Co-Founder of OPNX, and her leadership is pivotal to the platform's success. She is also active on Twitter, where she shares valuable information about the platform and the crypto industry.

Significantly, the platform has garnered strong financial backing from industry leaders Su Zhu (@zhusu) and Kyle Davies (@KyleLDavies) of Three Arrows Capital. Their support has been instrumental in OPNX's growth and credibility within the crypto community.

Is OPNX Safe?

OPNX, officially known as Technology Markets Ltd., is incorporated under the International Business Companies Act of 2016 in the Republic of Seychelles, with the company number 237185. While the platform's official website does not explicitly detail security protocols like two-factor authentication, it does emphasize transparency as a core value. 

All collateral and liquidation data are made transparent and are available on-chain, allowing users to continuously monitor their funds. Additionally, the platform has garnered reputable backing from industry leaders, further adding to its credibility and presumed focus on security.

Bottom Line

In summary, OPNX emerges as a groundbreaking financial platform, aimed at revolutionizing how claims trapped in bankruptcy proceedings are managed. By tokenizing these claims, it provides immediate liquidity and trading opportunities in the crypto market. With backing from industry stalwarts like Su Zhu and Kyle Davies, as well as an extensive and unique asset range, OPNX holds a compelling position in the crypto landscape. The platform’s proactive approach to asset inclusion and community engagement further cements its appeal to a diverse cadre of traders.

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