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Open Exchange Token
About Open Exchange Token
Open Exchange Token (OX) is a cryptocurrency linked to the Open Exchange (OPNX) project, the first of its kind for trading crypto spot, derivatives, and claims on public orderbooks. Launched on April 3, 2023, it introduced a new token, $OX, on May 31, 2023. OX is at the core of the Open Ecosystem, which includes OPNX and The Herd (a platform for staking $OX and voting on governance). It revolutionizes the typical exchange token model by introducing a democratic staking fee discount model. Users can get up to a 100% fee discount by staking $OX tokens proportional to their trading activity.
Open Exchange Token, also known as OX, is a cryptocurrency token associated with the Open Exchange (OPNX) project. OPNX is the world’s first exchange for trading crypto spot, derivatives, and claims on public orderbooks. The project was officially launched on April 3, 2023, as the world’s first crypto and claims exchange. On May 31, 2023, OPNX launched its new token $OX.
The OX token introduces a new exchange token model at the heart of the Open Ecosystem, comprising OPNX, The Herd (where users stake $OX and vote on governance), and a host of upcoming products. OX disrupts the typical CEX token incentivization model 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 $OX tokens proportional to their share of trading activity.