3AC Founder’s OPNX Announces Celsius Claims Trading Now Live
- Celsius claims trading is now live on OPNX.
- Users can now easily onboard and tokenize their Celsius claim, immediately unlocking frozen capital.
Open Exchange (OPNX), a crypto claims and trading platform founded by Three Arrows Capital founder Zhu Su and others, announced that the Celsius claims transaction is now officially launched, and users can now log in to Celsius and tokenize their claims to release capital liquidity.
OPNX is the first exchange to support bankruptcy claims and cryptocurrencies on one platform. In addition to the trading requirements, users will have access to spot and futures trading of cryptocurrencies. Users can also use their claim as collateral to trade on the crypto futures market.
For trading at OPNX after launch, claim holders will be able to sell or trade with claims including but not limited to BlockFi, Celsius, FTX, Genesis, Mt. Gox, Voyager, and 3AC (Three Arrows Capital).
Meanwhile, the exchange has introduced a new OX governance token to encourage the trade of Celsius claims and other crypto assets.
OX holders will earn incremental discounts based on the amount of trading volume they execute on the platform, similar to exchange tokens like FTT and BNB, which effectively operate as a prepayment of trading costs.
OX will bring in a “stake to trade” mechanism, allowing users who have staked a certain amount of tokens to receive a refund of the transaction fee in the form of the OX token itself. The amount of cashback will depend on the user’s OX staking ratio to their total trading volume on OPNX. At the time of publication, 133 persons have either minted or purchased the asset, with a total ownership of 136 million OX.
Users whose portion of all staked tokens corresponds to their part of OPNX’s weekly volume will get a fee refund of 100%. Stakers may also vote on decisions to adjust fees or swap listings. Holders of the exchange’s previously issued FLEX token will be able to trade it for OX at a 1:100 ratio.
Trade volume and accompanying liquidity on the platform failed to impress in the platform’s early weeks as it struggled to get off the ground. But, thanks to the introduction of OX, OPNX has reached a new peak in trading volume of $17 million in the last 24 hours.
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