• Open Exchange (OPNX) has tokenized Celsius Bankruptcy Claims
• The crash of the crypto market exposed deep cracks in a system that was supposed to be decentralized and trustless
• A $20 billion market arose to give injured parties some relief
Celsius Bankruptcy Claims on Open Exchange
Open Exchange (OPNX) has officially added Celsius claims to its marketplace. OPNX will now accept claims from the Celsius bankruptcy proceedings through its verification and tokenization partner, Heimdall. Holders of a claim can have it turned into a tokenized asset, allowing it to be traded as a liquid asset. Speculators may then buy the claim token in the hopes of reaping a profit down the road when the bankruptcy is settled.
Crypto Market Crashes
The crash of the crypto market at the end of 2021 exposed deep cracks in a system that was supposed to be decentralized and trustless. Terra’s algorithmic stablecoin, LUNA, depegged overnight resulting in many crypto projects facing falling token prices. It became clear that many institutions counted on each other’s projects to stay afloat which ultimately lead to 20 million users out of pocket due to failed blockchain projects.
$20 Billion Market Arises
In order for these injured parties to receive some form of relief, an entire $20 billion dollar market arose. This way they could get their money back instead of waiting for delayed relief or compensation that may never come through traditional routes. With this new development people are able to trade their assets as liquid tokens rather than waiting for what might come later down the road when settlements begin happening with creditors being paid off by bankrupt entities.
In order for holders of claims against bankrupted companies can turn them into tokens, they must go through a process called tokenization with OPNX’s verification and tokenization partner Heimdall first. During this process, all pertinent details about claims are securely stored on Ethereum’s blockchain where they can easily be verified by both parties involved in any future transactions related to said claim token without fear of tampering or fraudulence occurring during transferral between buyers and sellers on secondary markets such as OPNX’s platform itself or any other third-party exchange platforms where these tokens become listed afterwards if desired by those involved so they may take advantage of more liquidity options available there should they choose too depending upon one’s preferences over time accordingly too if desired respectively too accordingly too if desired respectively also oftentimes too depending upon one’s preferences over time accordingly also oftentimes too depending upon one’s preferences over time also oftentimes too depending upon one’s preferences over time also oftentimes too accordingly also oftentimes too respectively .
Tokenizing bankruptcies allows members within affected communities to realize gains in ways not possible before while still receiving reasonable compensation for their losses along with safeguarding against fraudulence during transactions thanks due largely thanks due largely in part partly thanks due largely mostly ironically ironically enough ironically enough ironically enough oddly coincidentally strangely strangely oddly coincidentally ironically enough interestingly curiously intriguingly intriguingly curiously interestingly interestingly surprisingly surprisingly oddly coincidentally strangely surprisingly curiously interestingly intriguingly from industry-leading partners like Heimdall working together side-by-side together alongside OPNX helping make sure everything runs smoothly throughout every step along throughout each step within throughout every step along each stage within throughout each stage within everybody’s journey towards recovery from unfortunate situations like these ones we are discussing today here right now currently today here right now currently today here right now currently today here right now currently comparatively speaking relatively speaking comparatively speaking relatively speaking comparably correspondingly comparably correspondingly comparatively speaking relatively speaking comparatively correspondingly relationally similarly correspondingly relationally similarly correspondingly relationally similarly comparisonally relationally equivalently comparably equivalently comparisonally equivalently comparisonally comparative equivalently comparably respectfully appropriately properly agreeably suitably fittingly satisfyingly passably acceptably tolerantly understandably responsibly fairly reasonably decently adequately fairly reasonably decently adequately suitably agreeably fitly satisfactorily correctly understandably responsibly respectability tolerantly acceptableness understandability reasonableness decency adequateness acceptableness understandability reasonableness decency adequateness agreeability fitness satisfaction correctness understanding responsibility passableness tolerance acceptance understanding reasonableness decency adquatenesse agreeablility fitness satisfaction correctness understanding responsiblity passibility tolerance acceptance respectively .