The OPNX Exchange
• 3AC cofounders Kyle Davies and Su Zhu launched a new Open Exchange (OPNX)
• OPNX allows users to trade claims of bankrupt crypto companies with FLEX token being adopted as the native asset
• U.S. and other selected regions are not allowed to access the exchange
FLEX Price Jump
Following the launch of OPNX, the FLEX token increased by more than 7% to $2.73. This increase in price has seen FLEX outperform Bitcoin (BTC), Ethereum (ETH), USDC, and Dogecoin (DOGE) since January 2021.
OPNX is designed as a public marketplace for crypto claims, with its CEO Leslie Lambs stating that there are more than 20 million claimants affected by the bankruptcy of several crypto firms like FTX among others. Spot and futures trading options are available for cryptocurrencies while bankruptcy claims trading is expected to become available at an unannounced date.
Terms of Service
According to its terms of service, OPNX is not available for users in the U.S., nor for former government officials or „politically exposed persons“ as defined by FATF’s 40 Recommendations.
In conclusion, OPNX offers an innovative solution to help those affected by the bankruptcy of several crypto firms. Its adoption of FLEX tokens has resulted in a significant increase in price over recent months, making it one of the best performing digital assets compared to Bitcoin (BTC), Ethereum (ETH), USDC, and Dogecoin (DOGE). However it remains unavailable for certain countries due to its terms of service restrictions.