OPNX “Bankruptcy Token” will be sent to Celsius users after May 29 – allowing creditors to unlock their frozen funds.
Recently, OPNX co-founder Mark Lamb and CEO of partner company Heimdall Vishal Shah confirmed that OPNX exchange will launch tokens and giveaways for users affected by Celsius bankruptcy. from May 29. However, the list of token recipients has not yet been revealed by OPNX.
According to the announcement, victims of asset freezes on defunct crypto platforms will receive the corresponding amount of tokens. Notably, this token can open frozen funds.
However, in order to receive tokens, investors must meet the requirements of the exchange such as not filing a lawsuit with the court to claim assets, using a system of declaration and proof of ownership of assets in money companies. electronic bankruptcy, and then send the debt to OPNX.
Currently, the exchange is supporting Celsius users, other platforms will be supported later.
It is known that OPNX is an exchange that claims assets from crypto companies that have gone bankrupt in 2022 such as FTX, Genesis, Celsius, Voyager, BlockFi and even Three Arrows Capital. 04.04. However, the operating situation of the platform is not very optimistic. However, the development team is still quite confident in what they do.
In particular, when clarifying OPNX’s strategy, Mark Lamb said he wanted the exchange to be different from other exchanges by operating a membership model based on betting on bankruptcy claims. to get benefits like free trading.
In addition, he also revealed that the exchange uses a liquidity model that does not favor market makers. At the same time, it aims to make OPNX an exchange specializing in cryptographic or Real World Assets (RWA) bankruptcy claims. According to the OPNX co-founder, the focus on RWA provides fundamental value beyond crypto and speculation, ensuring long life into the future.
“We want our products to be essentially not just crypto tokens, but to be much more than that. All that no exchange can do.”
Mark Lamb – co-founder of OPNX
Bankruptcy claims are not a new concept. However, the wave of bankruptcy in 2022 led to “fragmentation of the creditor class”, opening a gap of $20 billion.
In fact, these bankruptcy claims are not tradable, but Mark Lamb claims that “If you pull the right leverage, you can standardize them.