• The Open Trade (OPNX) has issued a brand new governance token referred to as OX.
• The most recent improvement has seen OPNX’s native token FLEX rise by 16%.
• Over 100 buyers purchased or minted OPNX’s new governance token.

Open Trade (OPNX), a chapter debt buying and selling platform launched by the identical founders of disgraced hedge fund Three Arrows Capital, has launched its personal governance token referred to as Open Trade Token (OX). Issued. OPNX’s newest improvement has boosted the worth of its native token FLEX by a whopping 16%.

In keeping with a white paper launched by OPNX, the brand new governance token will permit holders to pay much less charges when buying and selling on the chapter bond platform. OX tokens additionally give reductions on staking charges to customers who take part within the governance of the platform. This function was designed to incorporate merchants as “built-in companions of OPNX”.

In its white paper, OPNX states that by staking sufficient OX tokens, merchants can have everlasting free buying and selling. With its new token mannequin, OPNX goals to additional facilitate staking and buying and selling exercise on its newly launched platform. Moreover, all buying and selling price rebates are paid to the dealer within the type of his OX tokens.

In keeping with OX tokennomics, the utmost provide of governance tokens will likely be capped at 9.86 billion. The utmost provide of OX displays the utmost provide of FLEX, OPNX’s native token, minus the quantity of FLEX tokens which have been burnt thus far. FLEX tokens will be transformed to unstaked OX at 1:100. Tokenomics provides merchants a 100% rebate if staked OX exceeds a proportion of buying and selling quantity.

In keeping with Etherscan knowledge, 116 buyers have purchased or minted governance tokens on the time of this writing. Knowledge from CoinMarketCap exhibits that OX debuted at $0.012 earlier at present earlier than falling 4% to its present buying and selling worth of $0.011. In the meantime, FLEX rose 16% over the previous 24 hours to achieve a four-week excessive of $1.12.