• 3AC founders and Coinflex have launched Open Exchange (OPNX), the world’s first public marketplace for crypto claims trading and derivatives.
• The project was initiated due to Zhu Su’s desire to rebuild trust after the devastating collapse of 3AC last year.
• However, the launch has been met with criticism from members of the crypto community who are disappointed with the status of the crypto space.
3AC Founders Launch Open Exchange
Despite Zhu Su’s attempts to rebuild trust after the devastating collapse of 3AC last year, investors have not yet recovered from the wounds caused. In order to move forward, a new collaborative project between 3AC founders and Coinflex has been launched – Open Exchange (OPNX) – which will be the world’s first public marketplace for trading in crypto claims and derivatives.
Project Details
The official website for this project went live on Feb. 9th, aiming to become “the most transparent centralized exchange in the future (CEX).” Every balance, liquidation, withdrawal, deposit and trade on OPNX will be verified through real-time public cryptographic audits.
Zhu Su’s Reasoning
In June 2022 after 3AC fell, Zhu Su claimed that it was necessary to resume after a dark period. He said he had met with Coinflex CEO during this time in order for them both to advance crypto adoption further.
The Crypto Community Responds
However, upon launching OPNX investors were met with criticism from members of the crypto community who voiced their frustrations with current state of affairs in regards to cryptocurrency projects overall.
Conclusion
Despite some pushback from members of the community regarding this project being spearheaded by an insolvent hedge fund, it appears that OPNX is still making progress towards its goals as it continues to develop into a transparent centralized exchange platform which could potentially help revive trust in cryptocurrencies once more.