The Claims Basics.

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Written by Peter
Updated yesterday

Navigating the aftermath of a bankruptcy in the crypto industry can be a daunting process. This is especially true if you're one of the millions of users who've found their funds locked up on insolvent platforms. Fortunately, OPNX is here to help. Our new service is specifically designed to provide a lifeline to those affected by these unfortunate circumstances.

What Are Claims?

In the context of bankruptcies, claims refer to the amounts owed to you, the users, by the insolvent crypto platforms. This could include funds you've deposited, earnings that were due, or any other financial obligations the platform failed to meet.

Why Choose OPNX for Claims Trading?

  • Automated onboarding: Our partnership with Heimdall, a tokenization solution provider, ensures a streamlined and efficient onboarding process.

  • Off-ramp into crypto/stablecoins: We provide the option to off-ramp claim proceeds into crypto or stablecoins, offering you a flexible solution to access liquidity.

  • Utility: You can monetize your claims on OPNX by selling them into crypto or using them as collateral for futures trading.

  • Fungibility: By tokenizing claims, we make them easily traded and more liquid, leading to better pricing for claim holders.

  • Transparency and liquidity: Trading via order books offers better transparency and liquidity, leading to better pricing for you, the claim holder.

Understanding Claim Tokens: Your Gateway to Liquidity

Claim tokens represent your claim's value on the OPNX platform. These tokens are uniquely generated for each user and can be used in several ways within our ecosystem. The tokenization of real-world assets (RWA) such as bankruptcy claims in this manner is a groundbreaking innovation in the crypto industry, providing users with an unprecedented level of control over their locked funds.

Trading Claim Tokens on OPNX

Once your claim is tokenized, you can trade your claim tokens just like any other cryptocurrency on our exchange. The trading process is straightforward and mirrors that of regular crypto trading:

  1. Log into your OPNX account: Your claim tokens will be available in your wallet once the claim transfer process is complete.

  2. Visit the trading section: Here, you'll see a list of available markets, including a market for your claim tokens.

  3. Place a trade: Just like any other crypto trade, you can place a market order or a limit order depending on your trading strategy.

The versatility of claim tokens allows you to maintain liquidity, even in the face of a challenging situation.

Leveraging Claim Tokens for Futures Trading

In addition to direct trading, claim tokens can also be used as collateral for futures trading. This provides an extra avenue for monetizing your claims and unlocking their financial value. It's a powerful way to leverage your locked funds and potentially grow your portfolio, even while waiting for the resolution of the bankruptcy process. For a step-by-step guide on how to use your claims as collateral, please refer to this article.

Maximize Your Impact: The OPNX Affiliate Program

With the OPNX Affiliate Program, we want to ensure our claim holders can extract maximum value from their networks. This program lets you benefit directly from referring other claim holders to OPNX. Here's how:

  • Affiliates receive a referral bonus of 30 USDT when their referred user onboards their claim.

  • On top of that, they earn an additional 5% of the claim's value, which is paid out in reOX tokens.

  • Affiliates also earn a substantial 30% commission on their referral’s trading fees.

When you refer other claim holders to OPNX, you're not just helping them find a pathway to potential recovery, but also creating an opportunity for yourself to earn additional benefits.

By tokenizing claims and facilitating trading on our platform, we enable users to maintain liquidity and continue participating in the crypto market—no more waiting.

If you have any questions regarding claims on OPNX, please don't hesitate to contact us at [email protected].

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