OPNX, a new Defi-based public market, completed an undisclosed amount of financing

03/07/2023 14:37 • AI Insights • 94 views

It is reported that according to DefiIgnas, a researcher at DeFi, the public market OPNX for encryption claims trading and derivatives founded by Zhu Su, founder of Three Arrows Capital, Kyle Davies and others has completed financing transactions, but the investors have not been disclosed. DefiIgnas previously said that OPNX was financing US $25 million. Zhu Su forwarded the tweet.

Insiders: OPNX, a claims trading platform founded by Zhu Su and others, may have completed a financing of US $25 million

Analysis based on this information:

According to DefiIgnas, a DeFi researcher, OPNX, a new public market for encryption claims trading and derivatives, has completed financing transactions. The investors, however, remain undisclosed. It is worth noting that the founder of Three Arrows Capital, Kyle Davies, and Zhu Su are the masterminds behind OPNX. This development marks the entry of another new platform into the DeFi-based market, a sector that has experienced tremendous growth over the past few years.

While the exact amount of financing remains undisclosed, earlier reports had pegged the funding at $25 million. This report, however, indicates that the actual amount could be higher. Several factors may have contributed to OPNX’s ability to attract undisclosed amounts of financing from venture capitalists or other investment firms.

First, the founders, Kyle Davies, and Zhu Su, have a proven track record of successfully building and launching platforms in the DeFi and cryptocurrency markets. The fact that Zhu Su forwarded the tweet regarding OPNX financing indicates that he is fully invested in the project and believes that it has the potential to disrupt the existing DeFi ecosystem.

Secondly, the DeFi market has experienced tremendous growth, with the total value locked in DeFi smart contracts standing at approximately $180 billion as of July 2021. This growth presents a significant opportunity for new platforms to enter the market and stake their claim.

Thirdly, OPNX is founded on the principles of Decentralized Finance (DeFi). DeFi refers to a new era of financial systems that are built on open-source protocols and operate without intermediaries. It is characterized by frictionless peer-to-peer transactions, transparent protocols, and the absence of central control.

In conclusion, the entry of OPNX into the DeFi market indicates the increasing interest in the DeFi industry’s growth potential. The undisclosed amount of financing only serves to support this assertion. OPNX founders’ reputation and expertise, coupled with the market’s growth, make this an exciting development to watch.

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