Founders of embattled crypto lending and lending firm Capital of the three arrows (3AC) su zhu and kyle davies announced on Thursday the launch of the โworldโs first public marketplace for trading crypto claims and derivatives.โ
The founders of 3AC partnered with CoinFlex founder brand lamb for the creation of the Open Exchange (OPNX).
In a series of Twitter threads, Zhu said OPNX would focus on transparency and user security, ensuring real-time public crypto audits confirm every transaction, deposit, withdrawal, trade, and balance.
The exchange will begin as a marketplace for claims and derivatives trading and will eventually expand to offer decentralized custody and clearing, equities, FX, and innovative products.
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He added that the creation of OPNX was the result of lessons learned during the market crash in June and July, which he called a "dark period."
Zhu stated that he and his team were determined to take the pain and build something to move the cryptocurrency industry forward.
The exchange, Zhu said, will operate with a focus on radical transparency and the best of centralized (CEX) and decentralized (DeFi) exchanges.
The main token of the new exchange will be $FLEX.
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Photo: tierneymj via Shutterstock
