OccamFi introduced the new OCX Token
The OccamX DEX is nearing arrival. With it comes OCX, a new token designed to unlock the functionality of OccamX, and reward its early supporters and OCC holders.
With the arrival of OccamX and OCX, one thing is clear — the Occam.fi ecosystem is finally realizing its vision of becoming the central pillar of DeFi for Cardano. Now, what they want to make clear is the role you, their early supporters, will play in making this vision a reality.
Just like UniSwap rewarded its earliest users with the UNI token, Occam.fi will ensure that OCC stakers and supporters will be rewarded with the OCX token. In the new world of OCX, there’s no such thing as private rounds. There’s no VCs. There’s no IDOs. There’s just you, the OccamX DEX, and the OCX token.
But there are a couple of different ways to get OCX, and this depends on what role you’ve played in the Occam.fi ecosystem to date. They know what you’re thinking — just tell them how to get OCX already. So let’s go!
OCX Distribution
Let’s break down the core ways to get OCX, then go into some more detail:
- Hodl and stake OCC = Receive OCX in the future.
- Provide liquidity to OCC trading pairs = Receive OCX in the future.
- Stake ADA to the Occam.fi Cardano Stake Pool *= Receive OCX in the future.
- Sell your OCC stack to ape into animal meme coins = Become an OCX no-coiner and miss out big time.
You get the picture right? There’s only one type of person that gets OCX, and that’s you — the type that contributes to their ecosystem. There’s going to be 100,000,000 OCX tokens in circulation, the same as for OCC. Some 50% of these will be held by the Occam Association and Occam.fi team for operations, liquidity for OccamX, and community incentives as we grow. Think long-term time horizon for using these tokens in their operations. The remaining 50% are distributed to their supporters.
So, if you’ve ever staked OCC, or you’re staking right now, you will receive OCX according to how much and how long (cumulatively) you’ve staked. Likewise, if you’ve ever provided liquidity, or you’re providing liquidity right now, you will receive OCX according to how much and how long (cumulatively) you’ve staked. Pretty simple right?
And to make it easier still, these OCX tokens will be distributed just like CED rewards, through the OccamRazer Panel, available to claim whenever you want.
They’ll also have separate distribution phases. The first phase will reward early staking and liquidity mining participants — in other words those who have been here since the beginning. The next phase will reward those who stake OCC and provide liquidity once OccamX is live, including those who provide liquidity to trading pairs on the OccamX DEX when it’s launched. The final phase will reward those who delegate to their Cardano stake pool.
Their Cardano stake pool* will pay out to delegators in OCX tokens instead of ADA rewards. This is a way to reward ADA holders, many of whom are also their early supporters, with the OCX token, while also contributing to the health of the Cardano network through the operation of a node. Once operating costs are seen to, proceeds from our Cardano stake pool will be recycled into initiatives like the Occelerator incubator — paying it forward to the Cardano ecosystem in a self-sustaining cycle.
*They’re finalizing some last details on OCX distribution via their stake pool, but they’ve already set it up, check it out here. Please do not delegate to their pool yet as it’s not yet set up for OCX distribution.
What are OCX tokens used for?
Still reading? They thought you’d have left to stake OCC by now. Either you’re already staking, you need to watch their OCC staking guide video, or you’re a stickler for details. Well… if you’re still here, let’s look at the role OCX will play in the OccamX ecosystem.
OCX tokenomics and benefits are quite simple and it functions like many other DEX tokens. The higher a user’s OCX holdings, the lower the fees for takers and the larger the rebates for liquidity providers. Similarly, the higher one’s OCX holdings, the larger the maximum amount that can be spent on gaining execution priority for one’s DEX orders.
A decreasing fraction of the OccamX platform profits will be used to buy-back and burn the OCX tokens, creating a period of deflationary tokenomics that gradually decreases supply as there’s an increase in demand. This takes place on a decreasing schedule, decreasing to 0% linearly over each quarter.
Finally, OCX is used as a liquidity mining incentive for community selected token listings. These could be tokens of IDOs that launch through OccamRazer, or newly launched Cardano Native Tokens, for example.
📰 INFO
https://medium.com/occam-finance/the-ocx-token-arrives-c326078a4d2d
