{"id":78850,"date":"2023-10-31T07:22:02","date_gmt":"2023-10-31T11:22:02","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/opnx-offers-coinflex-creditors-25-equity-and-1-billion-ox-tokens-over-10-years\/"},"modified":"2023-10-31T07:22:07","modified_gmt":"2023-10-31T11:22:07","slug":"opnx-offers-coinflex-creditors-25-equity-and-1-billion-ox-tokens-over-10-years","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78850","title":{"rendered":"OPNX Offers CoinFLEX Creditors 25% Equity and 1 Billion OX Tokens Over 10 Years"},"content":{"rendered":"<div>\n<figure id=\"attachment_123941\" aria-describedby=\"caption-attachment-123941\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-123941\" class=\"wp-caption-text\">Source: Pexels<\/figcaption><\/figure>\n<p><strong>Mark Lamb<\/strong>, a fellow <strong>CoinFLEX<\/strong> stakeholder and founder of <strong>OPNX<\/strong>, has extended an offer to CoinFLEX creditors that includes 25% equity in OPNX and the distribution of 1 billion OX tokens over a 10-year period.<\/p>\n<p>The proposal comes after the bankruptcy of CoinFLEX in 2022, which left many stakeholders facing substantial financial losses.<\/p>\n<p>In a recent post on X (formerly Twitter), Lamb said the \u201ctender offer\u201d presented to CoinFLEX creditors provides them with an opportunity to exchange their existing stake in the bankrupt company for shares in OPNX and OX tokens.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">CoinFLEX Creditor Tender Offer: OPNX Shares and OX Tokens<\/p>\n<p>Link to Migration: https:\/\/t.co\/AJLGSNeSlj<\/p>\n<p>Dear CoinFLEX Stakeholders,<\/p>\n<p>My name is Mark Lamb, and I am writing to you today as a fellow CoinFLEX stakeholder and as a founder deeply committed to the success of OPNX.<\/p>\n<p>When\u2026<\/p>\n<p>\u2014 \ud83d\udc02 OPNX (Open Exchange) (@OPNX_Official) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/OPNX_Official\/status\/1719292219549438246?ref_src=twsrc%5Etfw\">October 31, 2023<\/a><\/p>\n<\/blockquote>\n<p>Creditors accepting the offer will collectively receive 25% equity in OPNX, distributed proportionally to their claim size.<\/p>\n<p>Additionally, creditors who accept the offer will receive 1 billion OX tokens, vesting over a 10-year period.<\/p>\n<p>The distribution of these tokens will be divided among two groups of creditors based on their acceptance time.<\/p>\n<p>The first 50% of creditors to sign up will receive two-thirds of the OX allocation, while the second 50% will receive one-third. This incentivizes early acceptance and allows the OPNX team to focus on building the exchange.<\/p>\n<p>Notably, creditors with claims under $250,000 USD accepting the offer within the allotted time window will receive a 2X OX bonus.<\/p>\n<p>The offer will be valid for 14 days for creditors with claims above $250,000 USD and 30 days for those with claims under $250,000 USD.<\/p>\n<p>\u201cThis final offer is a culmination of our efforts to move OPNX forward and resolve these ongoing negotiations,\u201d Lamb wrote.<\/p>\n<p>\u201cWe are proud of the work we\u2019ve done with creditors to put this deal together and we believe it to be the fairest and most equitable resolution for everyone involved.\u201d\n<\/p>\n<h2>CoinFLEX Creditors Sue CEO Lamb<\/h2>\n<p>\nLamb\u2019s \u201cfinal offer\u201d comes shortly after CoinFLEX creditors <span data-preserver-spaces=\"true\">sued the CEO and early investor Roger Ver<\/span>, aka Bitcoin Jesus, alleging a breach of fiduciary duty over the new exchange OPNX launch and unauthorized use of company assets.<\/p>\n<p>Last week, creditors of the now-defunct cryptocurrency exchange accused Lamb of breaching his fiduciary duty by creating a new company, OPNX, in collaboration with the founders of the failed crypto hedge fund Three Arrows Capital.<\/p>\n<p>In a Hong Kong civil court filing dated October 12, the creditors characterized OPNX as a \u201ccompeting business\u201d in relation to CoinFLEX and said that Lamb should be barred from acting or speaking on CoinFLEX\u2019s behalf.<\/p>\n<p>OPNX, Lamb, and Roger Ver have all been named as co-defendants in the case.<\/p>\n<p>Earlier this year, <strong>Leslie Lamb<\/strong>, who currently serves as the CEO of OPNX and the wife of Mark Lamb, made a <span data-preserver-spaces=\"true\">LinkedIn post<\/span> announcing that \u2018CoinFLEX will be officially rebranding to Open Exchange.\u2019<\/p>\n<p>However, the rebranding did not receive approval from CoinFLEX\u2019s board or creditors.<\/p>\n<p>Creditors claim that Lamb acted independently and improperly by appropriating CoinFLEX\u2019s intellectual property, technology, customer base, and employees to establish OPNX.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/opnx-offers-coinflex-creditors-25-equity-and-1-billion-ox-tokens-over-10-years.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Pexels Mark Lamb, a fellow CoinFLEX stakeholder and founder of OPNX, has extended an offer to CoinFLEX creditors that includes 25% equity in OPNX and the distribution of 1 billion OX tokens over a 10-year period. The proposal comes after the bankruptcy of CoinFLEX in 2022, which left many stakeholders facing substantial financial losses. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":78851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-78850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OPNX Offers CoinFLEX Creditors 25% Equity and 1 Billion OX Tokens Over 10 Years | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Pexels Mark Lamb, a fellow CoinFLEX stakeholder and founder of OPNX, has extended an offer to CoinFLEX creditors that includes 25% equity in OPNX\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=78850\" 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