1. BITBILIHome
  2. Article

OPNX launches Justice Tokens for Terra whistleblower victims

• 215 views

TL;DR Breakdown

  • Open Exchange (OPNX), a derivatives and bankruptcy claim trading platform, has launched FatManTerra Justice Tokens; these tokens are designed to compensate those affected by alleged defamation in the crypto space, particularly those impacted by the actions of a crypto influencer known as FatManTerra.
  • The Justice Tokens will be distributed to holders of RLB, LUNA, LUNC, and OX. These communities were reportedly harmed by a long-term misinformation campaign led by FatManTerra.
  • Despite the controversy surrounding OPNX and its founders, the announcement of the Justice Tokens led to a 22% increase in the value of OX, reaching an all-time high of $0.049.

Description

Open Exchange (OPNX), a derivatives and bankruptcy claim trading platform established by Three Arrows Capital founders Su Zhu and Kyle Davies, has announced the creation of FatManTerra Justice Tokens. These tokens are designed to compensate those who have been negatively affected by defamation in the cryptocurrency space. The first batch of these tokens is intended … Read more

Open Exchange (OPNX), a derivatives and bankruptcy claim trading platform established by Three Arrows Capital founders Su Zhu and Kyle Davies, has announced the creation of FatManTerra Justice Tokens. These tokens are designed to compensate those who have been negatively affected by defamation in the cryptocurrency space. The first batch of these tokens is intended to compensate those who suffered due to alleged defamation from FatManTerra, a crypto influencer who became a significant whistleblower for Terraform Labs following its collapse in May last year.

Tokenomics and distribution of Justice Tokens

The Justice Tokens, which are ERC-20 tokens, will be distributed to holders of RLB, LUNA, LUNC, and OX. The tokens are described as independent meme tokens with no intrinsic value or backing, and they are not expected to provide any returns. The primary function of these tokens is to compensate victims of defamation. Each specific defamation case will have its own variant of the Justice Token, and each token will have a maximum supply of 1 billion. According to the tokenomics shared by Open Exchange, 75% of the supply will be distributed to users who stake their native token OX over a period of six months, 20% will go to liquidity providers, and the remaining 5% will be gifted directly to the Milady community.

Impact on the crypto community and market response

The announcement of the Justice Tokens had a noticeable impact on the market. Following the announcement, OX, the native token of Open Exchange, gained as much as 22%, reaching an all-time high of $0.049. The FatManTerra Justice Token will be distributed equally between holders of LUNA, LUNC, OX, and RLB, communities that OPNX states were harmed by a long-term malicious misinformation campaign mounted by FatManTerra. 

No information has been given on how the distribution will be. In a statement on Twitter, FatMan Terra accused OPNX of committing fraud under his name.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:OPNX launches Justice Tokens for Terra whistleblower victims

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月31日 10:54
Next 2023年7月31日 14:46

Related articles

  • Supercharged Liquidity Pools on Osmosis: Empowering Liquidity Providers for Enhanced Rewards

    TL;DR Breakdown Osmosis approves supercharged liquidity pools, enabling liquidity providers to concentrate assets within specific ranges and gain higher rewards based on actual liquidity usage. A gradual migration process will be followed, starting with the deployment of a DAI/OSMO supercharged pool and subsequent migrations of classic curve pools. Description In a significant development for the Osmosis ecosystem, the community has successfully authorized the deployment of supercharged liquidity pools. These pools aim to provide liquidity providers with the ability to concentrate their assets within specific ranges, offering an opportunity to maximize rewards. The introduction of concentrated liquidity pools marks a shift towards a more efficient … Read more In a significant development for the Osmosis ecosystem, the community has successfully authorized the deployment of supercharged liquidity pools. These pools aim to provide liquidity providers with the ability to concentrate their assets within specific ranges, offering an opportunity to maximize rewards. The introduction of concentrated liquidity pools marks a shift towards a more efficient allocation of incentives based on actual liquidity usage, as opposed to the previous system of evenly distributed rewards….

    Article 2023年6月23日

  • Gate Group floats virtual asset exchange in Hong Kong

    TL;DR Breakdown The Gate Group has launched its virtual asset exchange in Hong Kong to cater to retail traders. Hong Kong regulator plans to take measures to safeguard retail traders. Gate Group, the virtual asset services provider and parent company of Gate.io, has recently introduced its latest virtual asset trading platform, Gate.HK, in Hong Kong. The platform, which began registration and trading services on May 23, allows users to make deposits and withdrawals of virtual assets and engage in spot trading of cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Gate.HK aims to cater to both retail users and professional investors by offering a diverse range of trading services. Gate Group launches its virtual asset exchange Gate Group has plans to expand the capabilities of Gate.HK in the future, with a focus on introducing additional services that provide users with a broader array of trading options. Each new product and service will be customized to meet the specific needs of users while complying with regulatory requirements in Hong Kong. The decision to establish Gate Group’s presence in Hong Kong was influenced by…

    Article 2023年5月27日

  • European stocks decline amid disappointing US inflation data

    TL;DR Breakdown European stocks experienced a decline as investors weighed the possibility of sustained high energy prices leading to prolonged inflation. Market movements coincided with investor anticipation of releasing US inflation data, which was disappointing. Analysts have expressed skepticism about whether the data will exert enough pressure on the US Federal Reserve to raise interest rates in their upcoming meeting. Description European stocks experienced a decline as investors weighed the possibility of sustained high energy prices leading to prolonged inflation, potentially prompting policymakers to raise interest rates this month. The region-wide Stoxx 600 in Europe fell by 0.4% at the opening, continuing the previous session’s losses. Similarly, France’s Cac 40 and Germany’s Dax saw a 0.4% … Read more European stocks experienced a decline as investors weighed the possibility of sustained high energy prices leading to prolonged inflation, potentially prompting policymakers to raise interest rates this month. The region-wide Stoxx 600 in Europe fell by 0.4% at the opening, continuing the previous session’s losses. Similarly, France’s Cac 40 and Germany’s Dax saw a 0.4% decrease. Futures contracts tracking the S&P…

    Article 2023年9月14日

  • Terraform Labs Founder Kwon Denies Forgery and Financial Ties in Montenegro Court

    TL;DR Breakdown Do Kwon, the founder of Terraform Labs, denies forging travel documentation and denies financial ties to Milojko Spajić. Kwon claims he received allegedly forged passports through third-party agencies and blames a Chinese-named agency. He had been using a Costa Rican passport for years and trusted its authenticity. He denies making any financial donations to Spajić, the leader of the Europe Now party. Description In a recent court hearing in Montenegro, Do Kwon, the founder of Terraform Labs, denied allegations of forging travel documentation and refuted any financial connections with Milojko Spajić, the leader of the Europe Now party. The South Korean entrepreneur claimed that he was unaware of the alleged forgery of his passport and instead blamed a … Read more In a recent court hearing in Montenegro, Do Kwon, the founder of Terraform Labs, denied allegations of forging travel documentation and refuted any financial connections with Milojko Spajić, the leader of the Europe Now party. The South Korean entrepreneur claimed that he was unaware of the alleged forgery of his passport and instead blamed a Chinese-named agency…

    Article 2023年6月21日

  • Binance to refer Dutch users to Coinmerce in exit from Netherlands

    TL;DR Breakdown Binance will exit the Dutch market on July 17, 2023, and refer its Dutch users to rival platform Coinmerce. Coinmerce, a registered crypto platform, will become the largest crypto platform in the Netherlands as it welcomes the referred Binance users, supervised by the central bank. The move comes after Binance failed to secure recognition as a virtual asset provider in the Netherlands. Description Binance will be exiting the Dutch market on July 17, 2023. As part of this exit plan, Binance has reached an agreement with Coinmerce, a registered crypto platform, to refer hundreds of thousands of Dutch users to their platform. This referral is set to make Coinmerce the largest crypto platform in the Netherlands in terms … Read more Binance will be exiting the Dutch market on July 17, 2023. As part of this exit plan, Binance has reached an agreement with Coinmerce, a registered crypto platform, to refer hundreds of thousands of Dutch users to their platform. This referral is set to make Coinmerce the largest crypto platform in the Netherlands in terms of products,…

    Article 2023年7月8日
TOP