Business News Report
February 05, 2024

OX.FUN Announces OX Token Airdrop, Rewards Users Active in January 

OX.FUN Announces OX Token Airdrop, Rewards Users Active in January 

Perpetual contract trading platform OX.FUN (OX) will distribute OX tokens through airdrops to all users who completed registration, made deposits and engaged in trading activities during January 2024. According to platform’s co-founder Su Zhu, the initiative aims to reward and incentivize OX platform’s active users.

Users who registered on OX.FUN in January are eligible to receive 1,000 OX tokens. Additionally, users engaging in staking (depositing) OX can receive an extra 1,000 OX, and those who have executed any perpetual contract transaction will be entitled to another 1,000 OX.

The distribution of airdrop rewards is scheduled to occur within next seven days, providing users with an incentive to participate in various activities on the OX platform.

In a post on social media platform X, Su Zhu also assured the issuance of additional airdrops in the future, indicating a commitment to provide further incentives and rewards to users on the OX platform.

OX.FUN operates as a cryptocurrency derivatives trading platform, offering users a gamified trading experience with deep liquidity and competitive exchange tokenomics. The gamification features include leaderboards, trading competitions, copy trading vaults, and daily trading missions. Users can farm up to a 200% OX yield by completing these missions, enhancing engagement and providing additional incentives on the platform.

Launched last month, the platform recently concluded its first OX token destruction event, eliminating a total of 2.2 million OX tokens. 

OX.FUN’s Connection with OPNX

OX.FUN is an iterative product of the cryptocurrency derivatives and claims trading platform Open Exchange (OPNX), also associated with Su Zhu, co-founder of the bankrupt cryptocurrency lender Three Arrows Capital (3AC). Currently, Su Zhu is under arrest

Recently, OPNX announced its decision to halt operations, with the platform set to be deactivated by the end of February. Established in 2023, the exchange primarily facilitated the trading of bankruptcy claims following the collapse of 3AC, which encountered significant challenges after its downfall in 2022 due to a series of unfavorable investments. These circumstances further contributed to the broader downturn and numerous failures within the cryptocurrency sector.

OX.FUN continues its active development and engagement with users through token airdrops, reinforcing a commitment to incentives and user rewards despite the recent turbulence surrounding Open Exchange and its founder. 

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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