- Open Change (OPNX) has launched a brand new governance token known as OX.
- The newest growth resulted in a 16% surge in OPNX’s native FLEX token.
- Over 100 traders have bought or created OPNX’s new governance token.
Open Change (OPNX), the bankrupt debt trade platform launched by the identical founders of disgraced hedge fund Three Arrows Capital, has issued its personal governance token known as Open Change token (OX). OPNX’s newest growth has resulted in an enormous 16% enhance within the worth of its native FLEX token.
In keeping with the white paper revealed by OPNX, the brand new governance token will permit its holders to pay much less charges whereas buying and selling on the chapter claims platform. The OX token may also grant a staking payment low cost to customers who take part within the governance of the platform. The characteristic was designed to incorporate retailers as “full companions of OPNX”.
OPNX talked about within the white paper that by staking sufficient OX tokens, merchants might additionally assure free commerce in perpetuity. With the brand new token mannequin, OPNX goals to encourage extra staking and buying and selling exercise on its newly launched platform. Moreover, all buying and selling payment rebates will likely be paid out to merchants within the type of OX tokens.
In keeping with OX tokenomics, the governance token will likely be capped at a most provide of 9.86 billion. The utmost provide of OX displays the utmost provide of OPNX’s native token, FLEX, minus the quantity of FLEX tokens burned so far. FLEX tokens may be transformed at 1:100 to unstaked OX. Tokenomics gives a 100% low cost to merchants if their staked OX exceeds their buying and selling quantity share.
Knowledge from Etherscan exhibits that on the time of writing, 116 traders have bought or issued the governance token. Knowledge from CoinMarketCap exhibits that OX debuted earlier at the moment at $0.012 and has since fallen 4% to its present buying and selling worth of $0.011. In the meantime, FLEX has gained 16% prior to now 24 hours, hitting a 4-week excessive at $1.12.
