Upbit announced the listing of Metaplex (MPLX) and Nexus (NEX). MPLX will be available in BTC and USDT trading pairs on the Solana network, with trading commencing at 15:00 Korea Standard Time (KST). NEX will list in the USDT market on the Ethereum network at 18:00 KST. Deposits for both tokens open within two hours of the notice.
What Are Metaplex and Nexus?
Think of Metaplex (MPLX) as the backbone for digital assets on Solana. It’s a protocol that makes it easy to issue Non-Fungible Tokens (NFTs) and token issuance, manage metadata, and handle big asset distributions. By standardizing metadata through Token Metadata and Metaplex Core, it ensures that your wallets and marketplaces always see (or recognize) your assets consistently, in the right way.
Lately, Metaplex has been growing into the AI space with things like the Agent Registry and Agent Tokens. Basically, this means AI agents can now have their own onchain identities and even issue their own tokens. The MPLX token itself is the heart of the Metaplex DAO (that stands for Decentralized Autonomous Organization), acting as a governance and utility tool. It’s used to convert protocol fees and build up the project’s treasury over time.
Now, let’s talk about Nexus (NEX). It’s a Layer-1 (L1) blockchain that’s doing some pretty cool stuff by mixing verifiable computation with financial apps. It’s built using the Cosmos Software Development Kit (SDK) and CometBFT [Byzantine Fault Tolerant (BFT) consensus engine and middleware], and it’s fully compatible with the Ethereum Virtual Machine (EVM). It also pulls in the Nexus zkVM (a Zero-Knowledge Virtual Machine) and the Nexus Network to make sure all that computation is actually verifiable.
When it comes to the NEX token, you can think of it as the native “gas” for the network. It’s what you use to pay for transaction fees, and it’s also used for staking by permissioned validators. Plus, it serves as the reward for the providers who keep that verifiable computation running smoothly.
Upbit trading restrictions and key details
Upbit will impose several trading restrictions: a 5-minute buy order freeze, a 5-minute minimum sell price limit of -10 percent below the previous day’s close, and a 2-hour limit order-only period.
The exchange reminded users to deposit only via the specified networks: Solana for MPLX and Ethereum for NEX. Contract addresses are provided to prevent errors.
