TechFlow news: Mark Lamb, co-founder of Open Exchange (OPNX), released an open letter stating that OPNX has made an offer to CoinFLEX creditors. Below are the key details of the tender offer:
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Equity Allocation: Creditors of CoinFLEX may choose to accept the tender offer. Those who accept will collectively receive up to 25% of OPNX's equity, allocated proportionally based on the size of their claims. Creditors who do not accept the tender offer will receive no equity.
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OX Token Rewards: Creditors who accept the tender offer will receive up to 1 billion OX tokens, distributed proportionally based on claim size and linearly vested over ten years. The first 50% of creditors to accept the offer will receive two-thirds of these OX tokens, while the remaining 50% will receive one-third. Creditors who do not accept the offer will receive no OX tokens.
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Rewarding Early Acceptance: To incentivize early acceptance, the first 50% of creditors accepting the tender offer will receive double the OX token allocation. Additionally, for creditors with claims under $250,000, the tender offer will remain valid for 30 days to allow sufficient time to accept the proposal.
