Odaily Planet Daily News: OPNX, a debt trading platform founded by Su Zhu and others, announced the launch of the credit currency oUSD, which can be used as margin and profit and loss currency in all futures contracts on OPNX. According to the white paper, oUSD solves three existing problems in the cryptocurrency field through unique credit, margin and collateral lending methods: borrowers do not want to entrust cryptocurrency loans to the platform; exchanges and lending platforms are reluctant to promote this activity because it often leads to insolvency (about 90% of such platforms went bankrupt in the last crypto cycle); traders want to use non-stablecoins (Bitcoin, Ethereum, OPNX, etc.) as collateral for derivative transactions, which is the most popular feature of the FTX exchange. In our opinion, most of FTX's trading volume comes from this. In order to solve the above problems, oUSD provides traders with a credit/lending mechanism based on their assets, without being limited by the number of stablecoins provided by borrowers or the risk of insolvency of exchanges. In addition, the white paper also mentioned that OPNX users can use USDT to purchase oUSD from the protocol at an unlimited 1:1. For those who want to use non-stablecoins (Bitcoin, Ethereum, OPNX, etc.) as collateral for futures trading, they can choose to use oUSD, and their profits and losses will be calculated in oUSD (oUSD balance can be negative, in which case the user needs to pay a certain interest rate). In terms of settlement, users will eventually face positive or negative oUSD balances. Profitable traders can cash out by selling oUSD in the oUSDT/USDT market or redeeming from oUSD, and losing traders can repay oUSD liabilities by buying oUSD in the oUSDT/USDT market or buying from the oUSD protocol. It is worth mentioning that shortly after OPNX’s official tweet announced the launch of oUSD, the tweet was quickly deleted, but the oUSD white paper interface still exists.