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 Hong Kong, China, July 14th, 2023, Chainwire 
 
 <a href="https://opnx.com/" rel="noopener noreferrer nofollow" target="_blank">Open Exchange</a> (OPNX), the new crypto derivatives and claims trading marketplace, has expanded its marketplace to include FTX claims. Holders of FTX bankruptcy claims now have the ability to unlock liquidity by selling claims or converting them to collateral to trade crypto futures.&nbsp; 
 The FTX collapse, which is perhaps the most significant event of the last year, has seen customers lose more than $8 billion in value, all of which is trapped in the ongoing FTX bankruptcy proceedings. And with no end in sight, many affected individuals have no way to access the locked liquidity.&nbsp; 
 <h2 id="launching-ftx-claims">Launching FTX claims</h2> 
 OTC markets can provide a means for creditors to liquidate their claims. But these are, unfortunately, only available to large creditors who have the means to shoulder the high legal and intermediary fees typically associated with these markets.&nbsp; 
 By launching FTX claims, OPNX aims to address this issue. The exchange will provide a platform for users with FTX claims of any size (no minimum) to access their locked liquidity by turning said claims into collateral for margin trading.&nbsp; 
 To address preference risk, OPNX gives users the option to convert FTX claims into Reborn OX (reOX) tokens. These are OX tokens that will be locked until preference for a claim is settled and to incentivize claimants, the platform is offering a bonus. 
 Users will also be able to trade their FTX claims into oUSD, the PnL currency of OPNX. This will be an active two-way market for claims and users can then use the oUSD as collateral to trade on OPNX. 
 Claims will initially be converted into reOX with a 100% bonus, this means that if the price of claims is $0.25 elsewhere, users will get $0.50 worth of reOX. This bonus will linearly converge to a 0% bonus over a period of 50 weeks. Additionally, the first 531 claimants receive benefits such as two months of free trading and VIP 6 (highest level) trading status for six months. 
 Users who convert their claims to reOX will also be able to use the tokens as collateral to borrow over-collateralized loans at a 25% loan-to-value (LTV) ratio.&nbsp; 
 <h2 id="reprieve-for-bankruptcy-claim-holders">Reprieve for bankruptcy claim holders</h2> 
 The crypto industry has seen its fair share of bankruptcies in the past year and a half. These collapses have resulted in 20 million users losing access to $20 billion worth of crypto assets. Much of the hope of recovering these funds has been placed in bankruptcy proceedings.&nbsp; 
 Unfortunately, these proceedings can take anywhere from several months to a few years to complete. And while OTC claims markets do provide an avenue for creditors to liquidate their claims, these are typically accessible to creditors with large claims. Small and medium-sized creditors are often unable to cope with the high costs and the lack of liquidity in those markets.&nbsp; 
 This is where OPNX steps in. The platform will act as an exchange for crypto bankruptcy claims. Here, holders of bankruptcy claims from insolvent crypto exchanges will have their claims tokenized, allowing them to turn the claims into collateral to trade perpetual products on the platform. 
 FTX is the latest addition to the claims trading platform. More claims are scheduled to come to the platform soon.&nbsp;&nbsp; 
 <h2 id="about-open-exchange-opnx">About Open Exchange (OPNX)</h2> 
 Open Exchange (OPNX) is a new protocol built to provide customers of collapsed crypto exchanges with a place to trade bankruptcy claims. It is the first exchange where people can trade both claims and crypto, exchanging claims for cryptocurrencies and vice versa, via orderbooks. 
 OPNX was built by a team that understands the shortcomings of the last crypto cycle. So, to prevent it from happening all over again, the platform combines the transparency of decentralized finance with the user experience of centralized finance.&nbsp;&nbsp; 
 &nbsp;Find out more about Open Exchange on their <a href="https://opnx.com/" rel="noopener noreferrer nofollow" target="_blank">website</a> or through their social media pages: 
 <a href="https://twitter.com/OPNX_Official" rel="noopener noreferrer nofollow" target="_blank">Twitter</a>&nbsp; | <a href="https://t.me/OPNXcommunity" rel="noopener noreferrer nofollow" target="_blank">Telegram</a>&nbsp; | <a href="https://www.linkedin.com/company/open-exchange-opnx/about/" rel="noopener noreferrer nofollow" target="_blank">LinkedIn</a> 
 
 <h5>Contact</h5>CMO Leslie L. OPNX info@opnx.com 
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Open Exchange (OPNX) Adds FTX Claims

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