Question 1

What is Open Exchange (OPNX)?

Accepted Answer

Open Exchange, or OPNX, is an innovative marketplace for spots, derivatives, and claims trading based on order books. OPNX provides a platform for individuals harmed by various crypto collapses where they can trade claims for crypto and vice versa. Consequently, through Open Exchange, claimants can immediately unlock their claims and even use them as margin capital.

Question 2

What is the Open Exchange Token? $OX Token Explained

Accepted Answer

The Open Exchange token ($OX) is an ERC-20 token minted on May 29, 2023, on the Ethereum blockchain. The OX coin is both the utility and governance token of the Open Exchange ecosystem. It disrupts traditional centralized exchange token incentivization models through an innovative staking fee discount system. With this system, users can get up to 100% fee discounts by staking $OX in proportion to their share of trading activity.

Learn more about the OX coin from our in-depth ONPX article!

Question 3

What is the Open Exchange Token Used For?

Accepted Answer

Staking
- $OX holders can stake their tokens through the staking and governance platform The Heard. Users get several benefits for staking tokens, including up to a 100% fee rebate, assuming they stake enough Open Exchange tokens.
Trading Benefits
- Open Exchange token holders benefit from simply holding the coin.
Governance
- $OX is also the governance token of the Open Exchange ecosystem. Consequently, users can leverage their holdings to influence the protocol's future.

Question 4

Where is the Best Place to Buy the Open Exchange Token?

Accepted Answer

The most accessible place to buy the Open Exchange token is to use Moralis Money's instant crypto swap feature. Simply scroll up, connect your Web3 wallet, and use the crypto-swapping widget at the top right of this token page.