3ac Founders' Open Exchange completes its $ 25 million donation
3ac Founders' Open Exchange completes its $ 25 million donation
The highly controversial "Open Exchange" (opnx), which is led by once failed crypto CEOs, has reached their donation goal of $ 25 million-although the founders have not yet announced their benefactors.
In the meantime, the collapsed crypto exchange Coinflex announced that its restructuring contract was approved by a court on the Seychelles, which briefly raised the price of her token.
The plans of opnx for the start
leaked in January, the lift font-weight: 400 "> will help to build an exchange with insolvency claims by other fallen crypto exchanges during Baisse 2022 let it dry out.
"The users are taken on board via a special purpose vehicle, which is sometimes referred to as a unit," explained Ignas. The exchange will adhere to the Know-Your Customer rules (KYC) and is not available to American citizens.
When officially announced last month said ZHU SU-once co-leader of the now dissolved hedge Arrow capital (3ac)-, the believers are agreed that the foundation of the new stock exchange "is the smartest way to use our existing resources". However, many were skeptical about the actual practicality of the introduction of an exchange based on bankruptcy claims-which are highly personalized and not almost as fun as standard tokens and cryptocurrencies.
Ignas said that similar demands are grouped at opnx and converted into tokens to increase fungability and be traded on the order book exchange. Withdrawals for these tokens are not made possible to ensure that they do not get into the hands of US citizens.
Customers can even use bankruptcy demands as security for trade in perpetual futures. However, borrowing and borrowing stable coins and other cryptos will not be possible.
The fate of Coinflex
on Tuesday Coinflex a blog entry that your restructuring plan had been approved. While he is waiting for a written order from the court before he announces further details, Igna's thread claims that Opnx will acquire all of Coinflex's assets - including his "employees, technologies and tokens".
Mark Lamb, CEO of Coinflex, joined the 3AC duo when founding opnx after a failed loan contract with Roger Ver had made his company into account. The native token of the former stock exchange, Flex, is now used as the main goat from opnx.
As Ignas has specified, Flex can be used to pay fees and is subject to a buy-back-and-burn procedure in which 20% of the OPNX revenue is used. "Currently 100 million flex tokens are in circulation, 2 million of which have already been burned by fees," he said.
flex can also experience rebranding in a ratio of 1: 1 with a new token, similar to the defi token aave/lend.
reported reported to sue Genesis and Grayscale in order to maximize the value of the bankruptcy estate. This would follow a similar step by Alameda, the sues Grayscale on Monday because it did not allow its customers to redeem their shares against Bitcoin or Ethereum.
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