OPNX extensionexchange dedicated to negotiating loans related to failed crypto companies, He listed FTX and Celsius credits.

According to the announcement dated July 14, especially FTX credits can be obtained instantly. negotiations And OPNX is collateralized in native OX (reOX) tokens or oUSD, credit currency. Users can then trade crypto futures using reOX as collateral. Credits are tokenized in collaboration with Heimdall, this also manages user participation and verification. The developers wrote:

“Credits will be converted to reOX tokens with a bonus of 100% of the market price initially, which will tend to increase to 0% over a 50-week period. This means users during week 1: FTX credits”.

In an illustrative example from OPNX, a $1 million FTX loan with an asking price of 30 cents per dollar would receive an equivalent amount of reOX loan of $600,000. “In case a user’s request has a preference, they will receive an equivalent dollar amount of issued reOX tokens”, wrote the change. Credits are transferred and stored in a separate fund.

OPNX was founded earlier this year by Kyle Davies and Zhu Su.He is the co-founder of Singapore-based hedge fund Three Arrows Capital, also known as 3AC. On the first day of employment, The total volume of OPNX was $13.64.. The daily volume of the stock market at the end of June over 30 million dollars.

Cointelegraph reported in May that the US Internal Revenue Service is trying to get it. $44 billion in unpaid taxes from bankruptcy FTP extension. Similarly, on July 13, the U.S. Federal Trade Commission, Centigradebased on a suspended sentence.