TechFlow reported, citing Bloomberg and sources familiar with the matter, that cryptocurrency claims and trading platform Open Exchange (OPNX) has proposed injecting $30 million worth of FLEX digital tokens into crypto lending platform Hodlnaut to fund partial payments to creditors and finalize claims. The latter's restructuring is under the supervision of Singapore courts.
According to the term sheet, OPNX will own 75% of Hodlnaut following the injection of FLEX tokens. The documents state that if creditors approve the plan, they will receive either 30% of their claims in FLEX and other tokens, or a pro-rata payment of up to 95% of the total available corporate asset pool, whichever is higher.
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