On June 26th, Open Exchange, an encrypted claims and trading platform founded by Zhu Su, the founder of Three Arrows Capital, stated on Twitter that the platform is developing a platform credit currency oUSD, which will be used as the margin and profit and loss of all futures contracts on OPNX currency.
The oUSD white paper stated that oUSD provides traders with credit/loan facilities collateralized by their assets, without being limited by the number of stablecoins provided by the lender, and without affecting the solvency of the exchange in the process. The first phase of oUSD will be launched soon, and users will be able to purchase unlimited oUSD with USDT at a price of 1:1 from the agreement. oUSD is not guaranteed to always be convertible to 1 USDT; rather, the market mechanism is for participants who trust their capital size to help provide liquidity and cash out when USDT redemption lines become available again.
Additionally, OPNX announced that Real World Asset (RWA) rewards for OX stakers have gone live, the first Justice tokens have been issued, and the first weekly distribution to OX stakers has begun.
The oUSD white paper stated that oUSD provides traders with credit/loan facilities collateralized by their assets, without being limited by the number of stablecoins provided by the lender, and without affecting the solvency of the exchange in the process. The first phase of oUSD will be launched soon, and users will be able to purchase unlimited oUSD with USDT at a price of 1:1 from the agreement. oUSD is not guaranteed to always be convertible to 1 USDT; rather, the market mechanism is for participants who trust their capital size to help provide liquidity and cash out when USDT redemption lines become available again.
Additionally, OPNX announced that Real World Asset (RWA) rewards for OX stakers have gone live, the first Justice tokens have been issued, and the first weekly distribution to OX stakers has begun.