Project Review: OPX Finance – A new kind of Decentralized Exchange
Welcome to Barmy’s Project Review Series. Today, we will talk about OPX Finance – A new kind of Decentralized Exchange!
I. OVERVIEW
OPX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades on the Optimism chain.
OPX is the first $GMX fork on Optimism and has virtually no competition. This means it will be able to attract the majority of TVL as Optimism continues to grow.
Stakers accrues 60 – 70% of the platform’s generated fees in the form of $WETH. The amount of rewards you get in WETH is based on the profit distribution in that epoch and your amount of staked tokens.
Traders can also provide liquidity to earn rewards.
II. UNIQUE SELLING POINTS
- High Leverage
In margin trading, traders will be supported to trade with up to 30X Leverage (Asset value) and perpetual.
- Reduced Liquidation Risks
An aggregate of high-quality price feeds determines when liquidations occur. This keeps positions safe from temporary wicks.
- Low costs
Traders can enter and exit positions with minimal spread, zero price impact and get the optimal price without incurring additional costs.
- Simple Swaps
The flatform allows users open positions through a simple swap interface and conceniently swaps from any supported asset into the position of their choice.
III. TOKENOMICS
There are 3 tokens in their system: $OPX, $VeOPX, and $OLP.
- $OPX is the utility and governance token. The governance accrues 15-35% of the platform’s generated fees.
- $VeOPX is OPX DAO’s Governing framework
- $OLP is the liquidity provider token, which will index all liquidity assets pool. OLP Staker accrues 60-70% of the platform’s gererated fees.
$OPX
Key metrics
- Token name: OPX
- Ticker: OPX
- Blockchain: Optimism
- Contract: 0xcdB4bB51801A1F399d4402c61bC098a72c382E65
- Token standard: ERC-20
- Token type: Governance and Utility
- Total Supply: 833,333 OPX
Allocation
- 555,532 for Presales
- 138,883 for Initial Liquidity
- 138,883 OPX for DEV & MKT (1-year vesting)
Distribution
- 47.47% staked
- 23.18% not staked
- 20.23% for DEV & MKT
- 9.12% in liquidity
Governance
- Staking
Users will lock $OPX with OPX NFT to get veOPX and stake veOPX to gain profit share in $WETH.
- Voting
Use your $veOPX to decide the distribution of rewards for the current epoch.
$VeOPX
VeOPX is the OPX DAO’s governing framework. An NFT ID will be issued to any person who stakes OPX anf OPX NFT in the governance house, together with the appropriate quanlity of VeOPX. The VeOPX holders will be able to peopose and vote on governance changes. The OPX NFT level, OPX quanlity, and lock perid all affect the rights and powers.
$OLP
$OLP is the platform’s liquidity provider token.
$OLP consists of an index of the assets used on the platform for swaps anf leverage trading. Users can mint $OLP by adding any index asset to the liquidity pool (LP) while $OLP is burned each time a user removes any index asset from the LP.
Staker accrues 60-70% of the platform’s generated fees in the form of $WETH. Purchase OLP tokens to earn ETH fees from swaps anf leverages trading.
- Supply: 648,804 OLP
- Total Staked: 648,804 OPL
- Market Cap: $723,006
- Stablecoin Percentage: 53.20%
Fees distribution
- OLP Share: Reward for all OPX Liquidity Providers
- Profit Share: This part is for all veOPX stake
- Project own Liquidity: This fund is used to buyback OPX and adds liquidity
- Dev Treasury: This part is Dev Fund for the development
- Buyback and Burn: Buyback OPX and burn it forever.
- DarkCrypto DAO: This part comes back to DarkCrypto Foundation
Roadmap
IV. Team, Backer, and Partner
Team
To be updated
Backer
To be updated
Partner
V. Social Media
Follow OPX Finance on their social medial for the latest updated
VI. Conclusion
OPX designed to provide a large range of trading features and very deep liquidity on many large-cap crypto assets.
We introduced you to OPX Finance and provided all the details about the project’s highlights and tokenomics above. BARMY team hopes that you can find valuable information about OPX Finance and their token from our article. Please let us know how to fulfill your expectation in the next Project Review.
All information above is NOT financial advice. Please do your own research.
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