Flex increases by 19 %after opnx Exchange publishes new governance tokens
Flex increases by 19 %after opnx Exchange publishes new governance tokens
Opnx-The stock exchange for crypto insolvency claims ZHU and Kyle Davies launched by SU published a white paper for their new governance token "Ox".
Details about the Coindie Tokenomics led to the price of flex-the existing native token of the platform-skyrocketed on this day.
opnx, flex and ox
after the Uncover According to coinmarketcap, Flex is traded for $ 1.14, an increase of $ 0.96 $ 24 hours ago and $ 0.75 a week ago.
In contrast, Coingecko specifies a current price of only $ 1.09 for Flex, which is still a daily increase of 7.9 % and a clear sign for increasing demand.
Flex will be able to be converted into new OX tokens in a ratio of 1: 100, which offers fee discounts, possible uses and governance rights on the OpnX exchange.
If Flex buyer alternatively choose to block your OX voluntarily for three months, you will receive 25 % more tokens.
According to the stock exchange, OX will solve "big problems with traditional stock exchange token models".
"Fixed discount models only offer incentives for short-term holding against fees-while high minimum volume/holding tapes are only accessible to whales and require constant adjustment, which leads to confusion," said the company.
In contrast, Ox will use a "Stake to Trade for Free" discount model that enables everyone who blocks OX tokens to act freely on the platform. Specifically, users have to block a share of the total OX offer for the fee-free trade, which is larger than their overall share on the opnx trade volume.
The stock exchange will start trading with a temporary bonus operational multiplier, so that users can act free of charge with a volume that is much larger than their relative use. "The earlier you are, the more you can benefit from this bonus," wrote the company.
The catastrophic beginnings of opnx
opnx was open to create a liquid market for insolvency claims of numerous crypto companies that collapsed in 2022. Zhu and Davies themselves stood behind the no longer existing crypto hedge fund Three Arrows Capital (3AC), who imploded in the previous month after Terra's meltdown last June.
The existing flex tokens of the stock exchange are a remnant of the former crypto exchange Coinflex by the co-founder Mark Lamb, which in the past year after a loan contract incorporation and a restructuring Roger Ver went south.
The concept of crypto stock exchange token was criticized in November during the collapse of the crypto exchange FTX, which was partly due to the dissolution of their native FTT tokens. Opnx supports the receivable trade for FTX.
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