Introducing $OX Token: Stake to Trade for Free
$OX (Open Exchange token) introduces an innovative new exchange token model and is the heart of the Open Ecosystem, comprising OPNX, The Herd (where $OX holders stake $OX and participate in governance) and a host of upcoming products.
The Open Ecosystem was founded on 3 principles:
Open Markets: We believe all asset classes should be tradable on public order books, accessible to everyone, with fair, real-time price discovery.
Transparency: We will have no internal market making and are building a zero-knowledge-proof network for real-time, public verification of all balances and leverage, ensuring accuracy while retaining total privacy.
Tokenization of Real-World Assets (RWAs): We're tokenizing traditionally inaccessible assets to enhance their liquidity and price transparency, starting with crypto bankruptcy claims to liberate $20B+ of otherwise frozen capital.
$OX Tokenomics Overview
- Maximum supply 9.86B $OX (no more tokens will ever be issued)
- 100% rebate for traders if their staked $OX % is >= their trading volume %
- Stakers exceeding their 100% rebate free trading volume will receive a 50% trading fee rebate on the remainder (ie trading volume % - staked $OX %)
- Non-staker traders can receive up to 50% trading fee discounts. See here for more details: support.opnx.com/en/articles/7209519-trading-fees
- Significant reductions in fees for RWA tokenization by paying in $OX.
$OX disrupts this by pioneering a staking fee discount model that is democratic, dynamically adjusting and promotes alignment between the exchange and traders.
Every user can receive up to a 100% fee discount in perpetuity by staking tokens proportional to their share of trading activity. This also provides clarity and eliminates the need for constant band adjustments, since the model is based on the users % share of trading volume and staked tokens. This ends the previously misaligned dynamic— instead redefining traders as integral partners of OPNX. By staking sufficient $OX, traders can secure free trading, for life.
Introducing the Herd
Where users stake their $OX to:
- Trade for free by staking sufficient $OX, via 100% fee rebates.
- [REDACTED] from future RWAs (Real World Assets) that may be onboarded, such as Justice Tokens (JTs), at the discretion of OPNX.
- Make signaling votes to change exchange variables like fees, burns, coin listings and more.
For example: $OX stakers might signal to change OPNX fees, or vote to burn all fees not returned in rebates to stakers i.e. those fees paid by non-staker traders and by $OX stakers who exceed their free trading volume.
Stake to Trade for Free
In the Herd, traders secure a 100% rebate on trading fees if their staker $OX as a % of total staked $OX is equal to or greater than their trading volume as a % of total OPNX trading volume.
Example (A) in one week, if Alice stakes 2% of total staked $OX and trades up to 2% of the total OPNX trading volume, she will receive a 100% trading fee rebate.
Example (B) in one week, if Bob stakes 3% of total staked $OX, then only trades 2% of the total weekly volume, he will receive a 100% trading fee rebate on all of his trading volumes.
If their staked % is less than their trading volume %, they will receive a 50% rebate on the remainder, as outlined below.
Example (C) if Rick stakes 5% of total staked $OX, then trades 10% of the total weekly volume, he will receive a 100% fee rebate on his 5% free trading fee volume allowance. A 50% fee rebate will then apply to the remaining 5% of volume. This equates to an overall 75% trading fee discount for the week in question.
This model incentivizes traders to stake $OX in order to trade for free, while $OX holders are incentivized to stake and trade in order to fully utilize the value of their holdings. All trading fee rebates to stakers are paid in $OX, further increasing token demand.
At OPNX, we are building products in alignment with our 3 principles: Open Markets, Transparency, and Tokenization of Real-World Assets (RWAs). We believe traders should no longer need to compromise on performance or security, nor accept misaligned incentives or adversarial platforms.
The $OX token reflects this, redefining traders as integral partners who can stake their $OX to secure free trading in perpetuity and shape OPNX’s future through governance.