.OPNX_Official and its $OX token target new milestones after rocky start OPNX
OPNX has generated a considerable amount of noise since its launch in April. But initially, the noise wasn’t very positive. Many users were quick to discredit the tokenized bankruptcy claims platform due to its ties to 3AC founders, Kyle Davies and Su Zhu.opening day garnered a measly $13.64 in total trade volume. But now after a few months, how do things measure up? Well, it seems to be making a big comeback.
The OX token has inherent utility and value accrual mechanisms that appeal to both high-frequency traders and DeFi degens alike. These mechanisms have helped the platform retain most of the liquidity brought in by its marketing campaigns.OPNX has found interesting ways to incentivize and reward OX stakers. These include an opportunity to trade for free on the platform.
These mechanisms can be judged as a move to encourage high-frequency traders to accumulate and stake OX tokens. In doing that, they continually increase their capacity to trade for free on OPNX, which gives them bigger incentives to remain on the platform.OPNX has often said that one of its goals is to extend beyond traders and reach the DeFi community.
This is similar to the gauge voting system used by DeFi protocols like Curve Finance and Yearn Finance. It essentially transforms traders into partners, further building incentive alignment between a platform and its users.Through another feature inspired by DeFi, OPNX has incorporated staked OX as collateral for its portfolio margin product. This will allow users to use staked OX to trade perpetual contracts on OPNX while also reaping yield in the form of RWAs and Launchpad tokens.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rollbit's RLB Token Rockets 60% as Crypto Casino Bets on Daily Token BurnCrypto casino and exchange Rollbit plans to buy and burn its RLB tokens daily, leading to a surge in prices by over 63%. Rollbit, which offers trading, sports betting, arcade games, and a tokenized jackpot, has generated revenue of over $2 million in the past 24 hours.
Read more »
Token Swap vs Token MigrationToken Swap vs Token Migration Discover the critical role of token swaps in the crypto ecosystem, and learn the differences between token swaps and migrations in this article
Read more »
Binance Launchpad | BinanceStill 28 days left to farm $SEI and $CYBER on Binance Launchpool! If you're unsure on where to find it on the app, here's a guide to help. ➡️
Read more »
OPNX Exchange Touted by Three Arrows Founders Bids for Ailing Crypto Lender HodlnautA digital-asset exchange linked to the founders of failed hedge fund Three Arrows Capital is seeking to take control of ailing crypto lender Hodlnaut, whose restructuring is being overseen by a court in Singapore.
Read more »
OPNX bids for beleaguered lender Hodlnaut: BloombergCiting a term sheet, Bloomberg reported that the deal would result in OPNX owning 75% of Hodlnaut.
Read more »
OPNX exchange bids for crypto lender Hodlnaut in SingaporeIf approved, OPNX would own 75% of Hodlnaut, while creditors would receive 30% of their claims in FLEX and other tokens, or a pro-rata payment of up to 95% of the available asset pool.
Read more »