Following the launch of its own token by the new OPNX exchange and the revival of the VC fund, it has recently introduced the oUSD stablecoin to the public.
According to the announcement, the oUSD stablecoin aims to address the issues of collateral, trust, and liquidity. These are the problems that the project believes directly undermine the cryptocurrency market.
Notably, this stablecoin is also inspired by the collapse of LUNA and FTX. According to Su Zhu, UST and FTT have distinct features that oUSD aims to emulate and overcome. Specifically, UST serves as a passive venue for investors with low capital utilization, while FTT has high borrowing demand.
As a result, oUSD provides independent traders with collateralized borrowing and lending without being constrained by the quantity of stablecoins provided by lenders or facing the risk of exchange illiquidity.
In addition to the launch of the oUSD stablecoin, OPNX exchange has also announced the upcoming launch of its first Launchpad project.
OPNX is an exchange platform founded by Zhu Su and Kyle Davies on 10/02/2023, with a lofty vision, aiming to heal the wounds of those debtors who were once victims of the collapses of FTX, Celsius, BlockFi, Mt.Gox