• Open Exchange (OPNX) has officially added Celsius claims to its marketplace.
• Through their verification and tokenization partner Heimdall, OPNX will now accept claims from the Celsius bankruptcy proceedings and turn them into a tokenized asset.
• This allows holders of the claim to trade it as a liquid asset with speculators possibly reaping a profit once the bankruptcy is settled.
Open Exchange (OPNX) Tokenizes Celsius Bankruptcy Claims
Open Exchange (OPNX) has announced that they have officially added claims from the Celsius bankruptcy proceedings to its marketplace. Through their verification and tokenization partner Heimdall, OPNX will allow holders of these claims to turn them into a tokenized asset. This makes it possible for these assets to be traded as liquid assets, which speculators may buy in hopes of making a profit when the bankruptcy settles.
The Crypto Market Crash Unveils Cracks in Decentralization
The end of 2021 marked an unfortunate crash in the crypto market that exposed deep cracks in what was supposed to be decentralized and trustless system. It became apparent early on when Terra’s algorithmic stablecoin LUNA briefly depegged overnight, resulting in falling token prices for truly decentralized projects such as Three Arrows Capital and FTX among others. As more failed blockchain projects left over 20 million crypto users out of pocket, this created a $20 billion market for relief purposes. Rather than waiting for potential relief through traditional means, those affected by crypto bankruptcies can now utilize Open Exchange (OPNX).
How Does Open Exchange (OPNX) Work?
Through their verification and tokenization partner Heimdall, OPNX provides an accessible platform for holders of cryptocurrency-related bankruptcy claims to have them turned into tokens so that they can be traded as liquid assets on the open market. By doing this, speculators may purchase these tokens with hopes of reaping a profit once the bankruptcy is settled or when conditions improve down the line. This service helps those affected by crypto bankruptcies get access to much needed funds faster than traditional routes would provide.
Why Is This Important?
This new system not only helps out those who are suffering losses due to failed blockchain projects, but also offers potentially lucrative opportunities for investors who speculate on these types of assets properly managed risk-tolerance parameters applied. Furthermore, it adds another layer of liquidity options available on Open Exchange’s platform which should help bolster its overall growth prospects moving forward.
Conclusion
Open Exchange’s decision to add Celsius claims marks an important milestone in how people can access liquidity from failed blockchain projects faster than ever before using their proprietary verification and tokenization technology provided by Heimdall partners . Not only does this benefit those affected by crypto bankruptcies but also opens up new opportunities for investors looking at alternative avenues for wealth generation within cryptocurrency markets if done responsibly with proper risk management protocols in place..