Latest News
Feature update
Improvement
Update to Perpetual Futures Leverage and Margin Tiers
Shared by Peter
• November 21, 2023
On Wednesday 22nd November at 14:00 UTC (2023-11-22 14:00), an update to the leverage and margin tiers in multiple Perpetual Futures markets will be performed.
The update will reduce the margin charged to existing open positions and new orders. It is still strongly advised that you mind your positions carefully and take note of the exact changes that are being made and how they may affect your portfolio.
This update is the first in a string of updates aimed at increasing leverage and margin tiers to boost capital efficiency for traders on OPNX. The tables provided detail the changes in leverage and position limits for various Perpetual Futures markets on OPNX before and after the update.
BTC/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
40 |
20 |
80 |
|
10 |
160 |
10 |
350 |
|
5 |
640 |
5 |
1,300 |
|
4 |
1,000 |
4 |
2,000 |
|
3 |
1,600 |
3 |
3,500 |
|
2 |
2,650 |
2 |
7,500 |
|
1 |
5,000 |
1 |
12,000 |
ETH/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
150 |
20 |
1,000 |
|
10 |
600 |
10 |
4,000 |
|
5 |
2,400 |
5 |
8,100 |
|
4 |
3,450 |
4 |
12,700 |
|
3 |
6,200 |
3 |
22,500 |
|
2 |
13,900 |
2 |
50,500 |
|
1 |
55,500 |
1 |
150,000 |
SOL/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
1,000 |
20 |
8,000 |
|
10 |
4,000 |
10 |
35,000 |
|
5 |
16,000 |
5 |
70,000 |
|
4 |
25,000 |
4 |
115,000 |
|
3 |
44,500 |
3 |
200,000 |
|
2 |
100,000 |
2 |
425,000 |
|
1 |
400,000 |
1 |
1,250,000 |
TIA/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
30,000 |
20 |
30,000 |
|
10 |
120,000 |
10 |
120,000 |
|
5 |
480,000 |
5 |
480,000 |
|
4 |
750,000 |
4 |
750,000 |
|
3 |
1,200,000 |
3 |
1,200,000 |
|
2 |
2,000,000 |
2 |
2,000,000 |
|
1 |
3,750,000 |
1 |
4,000,000 |
LINK/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
10,500 |
20 |
14,000 |
|
10 |
42,000 |
10 |
50,000 |
|
5 |
170,000 |
5 |
200,000 |
|
4 |
265,000 |
4 |
300,000 |
|
3 |
425,000 |
3 |
600,000 |
|
2 |
665,000 |
2 |
700,000 |
|
1 |
1,650,000 |
1 |
2,500,000 |
XRP/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
85,000 |
20 |
180,000 |
|
10 |
340,000 |
10 |
725,000 |
|
5 |
1,360,000 |
5 |
2,900,000 |
|
4 |
2,112,500 |
4 |
4,550,000 |
|
3 |
3,780,000 |
3 |
8,000,000 |
|
2 |
8,500,000 |
2 |
18,500,000 |
|
1 |
34,000,000 |
1 |
70,000,000 |
FTM/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
22,500 |
20 |
70,000 |
|
10 |
90,000 |
10 |
250,000 |
|
5 |
360,000 |
5 |
1,500,000 |
|
4 |
560,000 |
4 |
3,000,000 |
|
3 |
1,000,000 |
3 |
4,000,000 |
|
2 |
2,250,000 |
2 |
6,000,000 |
|
1 |
9,000,000 |
1 |
15,000,000 |
MATIC/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
15,000 |
20 |
100,000 |
|
10 |
60,000 |
10 |
400,000 |
|
5 |
240,000 |
5 |
1,600,000 |
|
4 |
350,000 |
4 |
2,500,000 |
|
3 |
600,000 |
3 |
4,000,000 |
|
2 |
1,350,000 |
2 |
8,000,000 |
|
1 |
6,000,000 |
1 |
15,000,000 |
1000PEPE/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
10,000,000 |
20 |
40,000,000 |
|
10 |
40,000,000 |
10 |
200,000,000 |
|
5 |
160,000,000 |
5 |
800,000,000 |
|
4 |
240,000,000 |
4 |
1,000,000,000 |
|
3 |
440,000,000 |
3 |
2,000,000,000 |
|
2 |
960,000,000 |
2 |
3,000,000,000 |
|
1 |
3,840,000,000 |
1 |
9,000,000,000 |
OP/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
10,000 |
20 |
60,000 |
|
10 |
40,000 |
10 |
240,000 |
|
5 |
160,000 |
5 |
600,000 |
|
4 |
250,000 |
4 |
900,000 |
|
3 |
450,000 |
3 |
1,500,000 |
|
2 |
1,000,000 |
2 |
3,000,000 |
|
1 |
4,000,000 |
1 |
7,000,000 |
ARB/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
25,000 |
20 |
120,000 |
|
10 |
100,000 |
10 |
480,000 |
|
5 |
400,000 |
5 |
1,920,000 |
|
4 |
620,000 |
4 |
2,500,000 |
|
3 |
1,100,000 |
3 |
4,000,000 |
|
2 |
2,500,000 |
2 |
8,000,000 |
|
1 |
10,000,000 |
1 |
15,000,000 |
BCH/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
200 |
20 |
600 |
|
10 |
800 |
10 |
3,000 |
|
5 |
3,200 |
5 |
10,000 |
|
4 |
4,500 |
4 |
15,000 |
|
3 |
8,000 |
3 |
20,000 |
|
2 |
18,000 |
2 |
35,000 |
|
1 |
75,000 |
1 |
120,000 |
DOGE/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
100,000 |
20 |
1,000,000 |
|
10 |
400,000 |
10 |
4,000,000 |
|
5 |
2,000,000 |
5 |
18,000,000 |
|
4 |
10,000,000 |
4 |
27,000,000 |
|
3 |
20,500,000 |
3 |
45,000,000 |
|
2 |
42,000,000 |
2 |
100,000,000 |
|
1 |
150,000,000 |
1 |
250,000,000 |
SHIB/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
1,500,000,000 |
20 |
7,500,000,000 |
|
10 |
6,000,000,000 |
10 |
30,000,000,000 |
|
5 |
24,000,000,000 |
5 |
120,000,000,000 |
|
4 |
36,000,000,000 |
4 |
150,000,000,000 |
|
3 |
66,000,000,000 |
3 |
200,000,000,000 |
|
2 |
144,000,000,000 |
2 |
400,000,000,000 |
|
1 |
576,000,000,000 |
1 |
700,000,000,000 |
WLD/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
10,000 |
20 |
27,500 |
|
10 |
40,000 |
10 |
150,000 |
|
5 |
160,000 |
5 |
455,000 |
|
4 |
225,000 |
4 |
750,000 |
|
3 |
400,000 |
3 |
1,250,000 |
|
2 |
900,000 |
2 |
3,000,000 |
|
1 |
4,000,000 |
1 |
10,000,000 |
LTC/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
20 |
275 |
20 |
1,500 |
|
10 |
1,150 |
10 |
6,500 |
|
5 |
3,000 |
5 |
26,000 |
|
4 |
5,000 |
4 |
40,000 |
|
3 |
10,000 |
3 |
70,000 |
|
2 |
20,000 |
2 |
160,000 |
|
1 |
90,000 |
1 |
325,000 |
LUNA/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
5 |
50,000 |
5 |
250,000 |
|
4 |
75,000 |
4 |
400,000 |
|
3 |
135,000 |
3 |
600,000 |
|
2 |
300,000 |
2 |
1,200,000 |
|
1 |
1,200,000 |
1 |
4,800,000 |
LUNC/USD Perp
|
Leverage |
Position Limit Before the Update |
Leverage |
Position Limit After the Update |
|
5 |
300,000,000 |
5 |
10,000,000,000 |
|
4 |
450,000,000 |
4 |
15,000,000,000 |
|
3 |
825,000,000 |
3 |
25,000,000,000 |
|
2 |
1,800,000,000 |
2 |
30,000,000,000 |
|
1 |
7,200,000,000 |
1 |
120,000,000,000 |
New
OPNX Secures Crypto License in Lithuania
Shared by Peter
• November 08, 2023
A crucial step towards building a new exchange standard for crypto trading and expansion into Europe
Open Exchange (OPNX), a rapidly emerging crypto exchange, today announced that it has obtained a virtual asset service provider (VASP) license in the Republic of Lithuania. This license allows OPNX to offer a range of crypto exchange solutions to users across Europe.
“Securing the VASP license from Lithuanian authorities is a significant milestone in OPNX's worldwide expansion and our mission to serve crypto users across the globe. This license underscores our ongoing commitment to regulatory compliance. We're proud to extend our services to millions of crypto users in Europe, offering them access to a trusted, secure, and transparent crypto trading platform,” said Leslie Lamb, CEO of OPNX.
Lithuania offers a clearly defined and structured regulatory framework to the crypto industry. The VASP license is a rigorous regulatory process that requires exchanges to adhere to the highest standards of compliance and security. OPNX has already implemented a robust KYC/AML program and upholds the utmost level of security to safeguard our users' assets.
“We firmly believe that regulation serves as the bedrock for fostering the growth and widespread acceptance of crypto assets,” said Lamb. “OPNX is committed to working alongside regulators worldwide to create a safe, compliant and transparent crypto trading ecosystem where users can feel confident growing their own paths to financial success.”
CoinFLEX Tender Offer: OPNX Shares and OX Tokens
Shared by Messenger
• October 31, 2023
Dear CoinFLEX Stakeholders,
My name is Mark Lamb, and I am writing to you today as a fellow CoinFLEX stakeholder and a founder deeply committed to the success of OPNX.
When CoinFLEX went bankrupt in 2022, amidst a host of other crypto failures, my heart sank. It was not merely the destruction of my life's work, but also a harsh blow as many of my closest friends and supporters now became creditors. Yet, despite this setback, I knew my journey wasn’t over and I was more driven than ever to keep building.
We had a vision for everything a crypto exchange should be began to burn brightly in my mind — especially after the debacles and painful industry lessons of 2022. I also knew that I wanted to honor the trust placed in my team by all theose who had believed in us.
Many backers were ready to support us in building this entirely new venture. Most advised starting fresh with a clean slate and a new cap table. Yet, my heart yearned for a comeback — where all those who believed in our team initially would rally together once more towards the shared goal that united us all in the first place.
Earlier this year, a proposition was made to CoinFLEX’s creditors offering them equity in the new venture, OPNX. This gesture aimed at aligning our incentives and creating a collaborative force towards building a next-generation exchange.
I spent this year building OPNX with a team of people I care deeply about — most of whom, like you, experienced CoinFLEX’s rise, bankruptcy, and then the completion of one of crypto’s first successful restructurings — and all of whom have chosen to commit themselves wholeheartedly to turning our new vision into a reality. A vision where OPNX seeks to become the leading and most innovative exchange in the industry.
Executing this vision began with onboarding our very first RWA by solving the problem of crypto bankruptcy claims, implementing what we believe is the best exchange token model, portfolio margin architecture, recently developing a transparent on-chain collateral and provable liquidation system to be launched soon, and much more.
Now many months in, with these products developed, an EU license granted, key partnerships formed, launchpad projects onboarded like Khabib Nurmagomedov’s new Metaverse venture, over $10 billion volume processed and a fast-growing base of >5000 OX holders — we are significantly further along the path to actualizing this vision.
However, we now find ourselves at a critical juncture on our path. To ensure our goal is realized, we first need to address several matters that require your immediate attention.
Understanding the Context of The Offer
First, it’s worth noting that the point of engaging in the lengthy, arduous and extremely costly CoinFLEX restructuring process was to ensure that all of our prior supporters received an equity share of the new venture. It has always been our intention, in words and actions, to make this happen.
Second, creditors had the right to appoint themselves to the board of CoinFLEX (or email me) and halt CoinFLEX’s involvement in the new OPNX business. If they disagreed, the alternative path would simply have been building OPNX with zero ties to CoinFLEX. This would have resulted in CoinFLEX creditors receiving no equity stake. Instead, at all times, we have acted with the interests of these creditors in mind.
For the last ten months we extended numerous offers and engaged in hundreds of hours of negotiations, all in an effort to reach a fair and equitable agreement with CoinFLEX’s major creditors. But, as OPNX grew, so too did the unreasonableness of a minority of these large creditors.
The protracted nature of negotiations with these creditors was not due to a lack of effort on our part. Instead, it stemmed from the unwillingness of a disagreeable minority to move forward in any way.
As a result, we are now at a critical point where we must reach a final resolution for OPNX to thrive and for CoinFLEX creditors to participate in its success. The best path here for CoinFLEX creditors is fairness and collective benefit. It cannot be understated: the alternative of continued stagnation is truly destructive for all.
The Tender Offer: A Path Forward
In light of this, we’ve spent the past month working with many supportive creditors to formulate a Tender Offer to all CoinFLEX creditors. This final offer is available to all and is easy to participate in.
CoinFLEX creditors will be able to submit their creditor claim and/or shares, and in exchange for their existing stake in a bankrupt company, will receive shares in OPNX and OX tokens.
The Offer:
- CoinFLEX creditors accepting this offer will collectively receive 25% equity in OPNX, distributed in proportion to claim size. Creditors who do not accept will receive nothing.
- CoinFLEX creditors accepting this offer will collectively receive 1 Billion OX linearly and vesting over 10 years through their OPNX account or trustlessly via an automated DeFi platform such as LlamaPay, as per their collective preference.
- The first 50% of creditors to sign up will receive ⅔ of this OX allocation, distributed proportionally to claim size. The second 50% of creditors to sign up will receive ⅓ of this allocation, distributed proportionally to claim size. Creditors not accepting this offer will receive nothing. This means that the first 50% of creditors to accept the offer will receive 2X the OX allocation as the second 50% of creditors. We are doing this to reward creditors for signing up quickly, so that the OPNX team can go back to focusing on building OPNX.
- Every CoinFLEX creditor of claim size less than $250K USD accepting this offer within the allotted time window will receive the 2X OX bonus.
- This offer will be valid for 14 days for anyone with a CoinFLEX claim above $250K USD. For less than $250K USD, the offer will be valid for 30 days to allow them time to be alerted.
This final offer is a culmination of our efforts to move OPNX forward and resolve these ongoing negotiations. We are proud of the work we’ve done with creditors to put this deal together and we believe it to be the fairest and most equitable resolution for everyone involved.
Prompt resolution means that the OPNX team can focus 100% on doing what we do best: building the most innovative exchange in crypto.
A Unified Way Forward
In the future, the OPNX team envisages a thriving community of all stakeholders actively supporting the success of OPNX as we grow the business, roll out frequent product updates and seek their input on key decisions for the exchange.
Building a business like this is challenging, but none of us would be here unless we truly believed we could realize our vision. Success is significantly more likely when we all work together in alignment. Our vision is clear, we have all the factors of success already in place and a path laid out before us. It is time to choose progress and make it a reality.
Thank you for your time and trust,
Sincerely,
Mark Lamb
Co-founder, OPNX
New feature
Explore the New OX Dashboard
Shared by Peter
• August 07, 2023
We're thrilled to announce our new OX Token Dashboard, which provides a comprehensive, real-time snapshot of key metrics and information related to our native token.
With a focus on simplicity and transparency, the page offers real-time updates on key OX metrics, such as 24-hour price changes, market cap, and staking yield. An introductory section presents the functionalities of the OX token within the OPNX ecosystem, and direct access to the OX Whitepaper is available for more in-depth information.
You'll also be able to learn about the various applications of the token - including staking in the Herd, or using your OX as collateral to trade crypto futures. Staking in the Herd provides up to a 100% trading fee rebate when your staked OX equals or exceeds your trading volume, in addition to airdrops from OPNX Launchpad projects and Justice Tokens.
This new dashboard exemplifies our commitment to transparency and empowering our users. We invite you to explore and deepen your understanding of the integral role OX plays within the OPNX ecosystem.
Update
OPNX Partners With Khabib’s Gameplan to Transform the Sports Metaverse
Shared by Leslie
• July 25, 2023
Hi OPNX Community,
We are thrilled to announce that we have partnered with UFC champion Khabib Nurmagomedov and Magomed Kurbaitaev’s new sports metaverse, Gameplan. The dynamic partnership will give fans an all-in-one destination for events, gaming, shopping, and interactions with their sports idols.
Through partnering with innovative projects such as Khabib’s Gameplan, OPNX aims to facilitate the next wave of crypto adoption and innovation, allowing athlete and fan interaction to thrive through Gameplan.
Khabib expressed his optimism about the new partnership, stating: “As an athlete with big experience, I understand sport and what it needs. I hope this partnership between OPNX and Gameplan will revolutionize the sports industry.”
Historically, the sports industry has presented limited avenues for fans to interact with athletes and a narrow range of opportunities for athletes to leverage their skills and fame outside of sport. Gameplan aims to solve these issues by building a deeper connection between high-profile athletes and their supporters. This includes the biggest names in football, boxing, and wrestling.
During gameplay, users can also engage with an AI-powered Khabib, a way for fans to learn more about the legendary MMA fighter while creating a personalized and memorable experience.
Read the full announcement here.
Product update
Service
USDT Perp Positions Migration to oUSD Portfolio Margining
Shared by Peter
• July 16, 2023
We would like to inform you about the upcoming position migration from USDT margined perpetual futures to portfolio margined (oUSD) perpetual futures and actions that may affect your account.
On Tuesday, July 18th at 06:00 AM UTC, the exchange will undergo a scheduled maintenance lasting 2 hours during which, the following steps will be taken.
Upcoming Migration Steps
1. All trading will be disabled.
2. All open USDT margined perpetual futures positions will be migrated to the portfolio margined contracts (oUSD perpetuals).
3. All USDT margined perpetual futures contracts will be delisted.
4. All accounts will be converted to “PORTFOLIO” account types from “STANDARD” or “LINEAR”.
USDT margined perpetual futures positions will be closed and reopened at the Mark Price of the related oUSD market.
Position Migration Example
Bob has the following open positions:
|
Market |
Amount |
Entry Price |
Mark Price (USDT Perp) |
|
BTC/USDT Perp |
1 |
30,000 |
30,500 |
|
ETH/USDT Perp |
10 |
2,000 |
2,070 |
|
OX/USDT Perp |
100,000 |
0.03 |
0.0296 |
During the migration, Bob’s USDT margined positions will be converted into portfolio margined positions (oUSD perpetuals) inside each respective sub account. The USDT margined positions will be settled and re-opened at the portfolio margined perp’s Mark Price.
Bob’s positions following migration:
|
Market |
Amount |
Entry Price |
Mark Price (Portfolio Margined Perp) |
|
BTC/USD Perp |
1 |
30,600 |
30,600 |
|
ETH/USD Perp |
10 |
2,100 |
2,100 |
|
OX/USD Perp |
100,000 |
0.0303 |
0.0303 |
Bob will have new entries in his trading history:
|
Market |
Side |
Price |
Executed |
|
BTC/USD Perp |
Long |
30,600 |
1 |
|
ETH/USD Perp |
Long |
2,100 |
10 |
|
OX/USD Perp |
Long |
0.0303 |
100,000 |
|
BTC/USDT Perp |
Short |
30,600 |
1 |
|
ETH/USDT Perp |
Short |
2,100 |
10 |
|
OX/USDT Perp |
Short |
0.0303 |
100,000 |
Bob’s PnL:
|
Market |
Amount |
Entry Price |
Exit Price |
PnL (USDT) |
|
BTC/USDT Perp |
1 |
30,000 |
30,600 |
600 |
|
ETH/USDT Perp |
10 |
2,000 |
2,100 |
1,000 |
|
OX/USDT Perp |
100,000 |
0.03 |
0.0303 |
30 |
|
Total |
1,630 |
After migration, once positions have migrated and trading has resumed, PnL from Bob’s positions will be paid in oUSD.
What do I do if I don’t want to migrate?
You can close your USDT margined perpetual futures positions in the relevant markets if you don’t want your USDT margined positions to be migrated.
What are portfolio margined perpetual futures on OPNX?
A brief refresher on various facets of portfolio margined perpetuals can be found below.
Index price
Nothing changes here. The contracts are indexed to USDT pairs, meaning the futures should tend to trade in-line with other USDT margined perpetuals and USDT spot markets.
PnL and Funding Payments
Big changes here. The contracts are still cash settled, however PnL and funding payments are paid in oUSD.
Collateral and margining
Big changes here. oUSD perpetuals take advantage of portfolio margin, meaning cryptocurrencies such as Bitcoin, Ethereum, and OX can be used as collateral to trade. It’s important to note that while oUSD is used for settlements and PnL, crypto collateral is valued using USDT pairs, such as BTC/USDT and ETH/USDT.
In the trading interface you will see your “Collateral Balance”, which is used as margin to trade these portfolio margined contracts.
Collateral Balance = sum(coin balance * index price * LTV)Index Price = Median of USDT pairs from a set of exchanges (CEX and/or DEX)LTV = min(base LTV, 1/(LTV factor * sqrt(coin balance) + 1))Collateral Liquidation Triggers:
Partial Collateral Liquidation (no forfeiture of collateral to the insurance fund):
USDo balance < -4*Collateral BalanceFull Collateral Liquidation (forfeiture of collateral to the insurance fund):
Collateral Balance <= 0We’re eager to welcome you to the next stage of OPNX and level up your trading experience with oUSD margined perps. For more information on oUSD, please refer to the oUSD Litepaper.
New product
Unlocking Liquidity for FTX Claimants
Shared by Peter
• July 14, 2023
We are excited to announce the launch of FTX claims on OPNX. This new development provides an immediate liquidity option for those affected by the FTX bankruptcy, allowing users to efficiently convert their claims into trading collateral with an initial 100% bonus of the current market price.
Key Benefits: Liquidity, Ease, and Zero Fees
- Immediate Liquidity: FTX claims can be converted into reOX tokens or oUSD, both of which can be used as collateral for trading crypto futures.
- Automated Onboarding: Users can easily verify and trade their claims thanks to our swift onboarding process facilitated by Heimdall.
- No Tokenization Fees: We do not charge any tokenization or management fees for FTX claims. The only cost is a 26 USDT court processing fee, which is waived for the first 531 claimants.
Efficient Verification and Tokenization Process
Leveraging our partnership with Heimdall, we have established an efficient onboarding and verification system for FTX claims:
1. Join and Complete KYC: Create an account on both OPNX and https://claims.ftx.com. Complete the KYC procedures on both platforms.
2. Apply: Provide claim details and complete the video verification process.
3. Sign: Digitally sign the transfer agreement to initiate the claim transfer process.
4. Convert: Transform your claim into collateral — reOX or oUSD — and immediately start trading crypto futures
Risk Management for FTX Claims
We have implemented measures to address preference risk associated with FTX claims, including the ability to convert FTX claims into reOX tokens or oUSD. Both of these serve as eligible collateral in the OPNX credit system. In cases where a claim is determined to have preference or is fraudulent, an equivalent dollar amount of reOX tokens/oUSD will be reclaimed from the user.
Claim Conversion and Profits
Users have the opportunity to convert their FTX claims into reOX tokens or oUSD at a 100% bonus of the current market price, as mentioned above. Profits can then be withdrawn, with the initial value of reOX collateral subtracted.
The addition of FTX claims on OPNX is a significant milestone in our commitment to helping our users overcome recent financial disruptions. By unlocking immediate liquidity and simplifying the claims conversion process, we are enabling our users to actively participate in the crypto market once again.
OPNX Affiliate Program
We invite users to join our affiliate program and earn commissions by referring new users to trade or onboard their claims. For every FTX claim referred, affiliates earn 30 USDT plus an additional 0.50% of the claim value.
Affiliates also earn a 30% commission on their referral's trading fees from spot and futures trading activities.
Event
OPNX Partners with Hong Kong Digital Asset Exchange (HKD.com)
Shared by Leslie
• July 13, 2023
Hi OPNX Community,
We are thrilled to announce our strategic partnership with Hong Kong Digital Asset Exchange (HKD.com), enabling OPNX to become a licensed entity in Spain!
This collaboration brings two major players in the digital asset space together to foster innovation and growth not just in Spain, but also on a global scale.
Hong Kong Digital Asset Exchange (HKD.com) is a pioneering digital assets exchange with both online and physical outlets, including a substantial crypto ATM and POS network. Leveraging global licenses, HKD.com offers a smooth, barrier-free experience for all users to buy and sell cryptocurrencies via cash or bank wire. HKD.com goal to eliminate all hurdles associated with onboarding to self-service online exchanges, providing a truly barrier free crypto exchange for all.
OPNX is an innovative, new derivatives exchange currently focused on the tokenization of real world assets such as crypto bankruptcy claims, which have opaque markets and high barriers to entry. Beyond this, OPNX’s aim is to combine the best of CeFi and DeFi, as shown by recent product launches such as OPNX’s credit currency: oUSD.
In this alliance, OPNX will work closely with the core HKD.com team to amplify the presence of HKD.com and its ecosystem token, HDAO (HKD.com DAO), paving the way for a robust HDAO ecosystem. Through our combined efforts, we aim to accelerate the adoption of HDAO, offering users and investors unprecedented opportunities in the digital asset market.
Furthermore, OPNX’s native platform token, the $OX token, will be listed on HKD.com's digital asset exchange platform, enhancing its liquidity and visibility. This move not only benefits liquidity and visibility for $OX token holders, but also expands the portfolio of innovative assets available to HKD.com's users.
Our joint mission is to revolutionize the digital asset landscape, driving innovation and creating sustainable value for all stakeholders. As a licensed entity in Spain, OPNX will be able to leverage HKD.com's extensive resources and regulatory expertise, expanding our user base and market reach.
We are extremely grateful for the ongoing support and trust that our communities have placed in us. None of this would have been possible without their unwavering belief in our missions. As we embark on this exciting new chapter with HKD.com, we commit to maintaining the highest standards of transparency, integrity, and user satisfaction. We expect that this partnership will significantly influence our organizations' trajectory and the broader blockchain industry.
Together, we're creating the future of digital assets, and we can't wait for you to join us on this journey. 🚀
New product
Android
Meet the OPNX App
Shared by Peter
• June 09, 2023
Earlier this year, OPNX launched as the premier crypto exchange for trading crypto claims, spot, and futures all on one secure platform. Users have access to the full web experience, where they can easily register their Celsius claims, unlock their value by selling them directly into crypto, or use them as collateral to trade crypto futures. FTX and other claims coming soon!
Given the 24/7 nature of crypto markets, we understand that you may also need to act on the go!
Meet the OPNX Mobile App.
Whether you’re new to crypto or an experienced trader, our new mobile app will ensure you never miss an opportunity to trade.
Buy and Sell Cryptocurrency and Claim Tokens
The OPNX App offers new and experienced traders a wide range of cryptocurrencies across spot and futures markets, including Bitcoin (BTC), Ethereum (ETH), Doge (DOGE), and many more – including the native OPNX token OX. With OPNX’s new tokenized claims market, you’re able to buy and sell claims on order books at competitive pricing whenever, on the go.
30% Commission on Referral's Trading Activity
Refer your friends and family to join the platform and earn 30% commission on their spot and futures trading activity! This is a great opportunity to earn extra income while helping others discover the power of trading cryptocurrencies.
Security and Verification
We understand that security is of utmost importance when it comes to trading cryptocurrencies. That's why we've implemented state-of-the-art security measures to ensure that your assets remain safe and secure at all times. Additionally, our enhanced verification procedures protect your account from unauthorized access.
Don’t Miss Out!
Available on Android today: https://play.google.com/store/apps/details?id=com.opnx.vt
iOS release soon to follow.
Don't miss out on this unparalleled opportunity to thrive in the ever-evolving crypto landscape from the palm of your hand.
Stay up to date with OPNX on social media:
Twitter (EN): https://twitter.com/OPNX_Official
Twitter (CN): https://twitter.com/OPNX_zh
Telegram (EN): https://t.me/OPNXcommunity
Telegram (CN): https://t.me/OPNX_CN
Linkedin: https://www.linkedin.com/company/open-exchange-opnx/about/
New product
Introducing $OX Token
Shared by Peter
• May 31, 2023
$OX (Open eXchange token) introduces an innovative new exchange token model and is the heart of the Open Ecosystem, comprising OPNX, The Herd (where $OX holders stake $OX and participate in governance) and a host of upcoming products.
$OX Tokenomics Overview
- Maximum supply 9.86B $OX (no more tokens will ever be issued)
- 100% rebate for traders if their staked $OX % is >= their trading volume %
- Stakers exceeding their 100% rebate free trading volume will receive a 50% trading fee rebate on the remainder (ie trading volume % - staked $OX %)
- Non-staker traders can receive up to 50% trading fee discounts. See here for more details: support.opnx.com/en/articles/7209519-trading-fees
- Significant reductions in fees for real-world asset (RWA) tokenization by paying in $OX.
$OX is pioneering a staking fee discount model that is democratic, dynamically adjusting and promotes alignment between the exchange and traders.
Herdnomics
In the Herd, every user can receive up to a 100% fee discount in perpetuity by staking tokens proportional to their share of trading activity. By staking sufficient $OX, traders can secure free trading, for life. Herd Stakers will also get paid Justice Tokens as they are emitted to stakers. Read the $OX Overview for more details.
$FLEX to $OX Migration
$FLEX holders have two ways to convert their $FLEX to $OX. They can choose conversion into unstaked $OX, or opt for conversion into staked $OX to gain an additional 25% bonus $OX:
A) $FLEX can be converted 1:100 into unstaked $OX
B) If $FLEX holders choose to convert and stake their $OX, a bonus 25% $OX will be paid to them from the OPNX treasury for a total 1:125 conversion
During the first year, a Bonus Staking Multiplier will be introduced for $OX stakers, allowing them to trade fee-free at up to 12X higher multiples than their regular allowance. Usually, a trader would secure a 100% trading fee rebate if their staked $OX as a % of total staked $OX is equal to their trading volume as a %. Here, the initial multiplier will start at 12X, meaning traders can secure a 100% trading fee rebate on a trading volume percentage equivalent to 12 times their current staked $OX tokens. The multiplier will decrease by 1 every month throughout the year until it returns to 1X. E.g. 12X for June, 11X for July, 10X for August and so on.
Here’s an example to illustrate the above:
Let’s say Jenny stakes 1% of total staked $OX, then trades 12% of total OPNX monthly volume in June. Given the Bonus Staking Multiplier is 12X (1% X 12) for June, she will therefore receive a 100% trading fee rebate for the month.
If Jenny then continues to stake 1% of total staked $OX and trades 12% of total OPNX volume in July, she will receive a 100% trading fee rebate on 1% X 11 = 11% and a 50% trading fee rebate on the remaining 12% - 11% = 1%
How to convert $FLEX into $OX
- Go to https://ox.opnx.com/ and connect your MetaMask Wallet (ensure you have transferred $FLEX to your MetaMask Wallet)
- Click on “Convert to OX”
- Depending on whether you want to convert into staked $OX or unstaked $OX, choose the appropriate option.
- Input the amount of $FLEX you want to convert into staked or unstaked $OX and click “Approve FLEX.” Then click “Convert FLEX to OX”
- Stakers, watch your $OX build up in the Herd as you earn rewards!*
*Unstaked $OX will be immediately redeemable.