• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

First AMA ignited the community with tens of thousands of members: why is O2DEX called the most anticipated project in 2022?

Bitcoinist by Bitcoinist
3 weeks ago
in Press releases
15

DEX is one of the most important infrastructures in the crypto ecosystem, the most competitive track in DeFi, and the sector that captures the most value.

The popularity of DeFi has attracted many projects into this protracted competition. However, DEX projects seem to fall into some kind of homogenization trap. When there is no significant difference regarding technology and performance, what kind of design is more appealing to users and thus wins a bigger market share?

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

On April 21st, O2DEX, a new generation of DEX project developed by the former SushiSwap technical team, held the project’s first community AMA event. This AMA was broadcast live simultaneously on O2DEX’s Telegram and Discord channel, attracting more than 30,000 community members.

This event also marks the first exposure of O2DEX team members to the community. In the AMA, the team mainly introduced O2DEX’s attempts in innovation and how O2DEX will differentiate itself in the market competition. Finally, they responded to the token airdrop questions that community users care about most in great details.

O2DEX is an innovative DEX designed to solve the liquidity predicament of DeFi. It pioneered the UPF non-constant product formula, subverting the market-making mechanism of traditional DEX, reducing risks for and providing multiple rewards to liquidity providers. O2DEX has its inbuilt deflation mechanism. The more assets in the platform are traded, the scarcer they become, eventually continuously raising the value of assets.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

O2DEX was developed by a group of former SushiSwap technicians. They were responsible for the development of core functions such as trading and liquidity mining in SushiSwap. With this background, the technical strength of O2DEX is beyond doubt. According to the team members, they have accumulated lots of thoughts about DEX trading algorithms, liquidity risks and economic models in the past long-term development work. The connection of these ideas finally inspired them to develop this new model of DEX together—O2DEX.

The predominant innovation of O2DEX is the improvement on the market maker mechanism adopting the original UPF non-constant market maker mechanism. Under the market maker mechanism of O2DEX, the assets sold by users in transactions do not directly enter the liquidity pool. 50% are directly destructed, and 50% left are rewarded to the liquidity provider in the transaction proportionally.

Compared with traditional DEX, in a pool with the same depth, the UPF non-constant product formula demonstrates less price fall of tokens during selling, which means assets traded on O2DEX are more resistant to price fall, reducing asset loss risks for liquidity providers.

Examples below clearly demonstrate that

Therefore, while trading in O2DEX, assets fall less in price when being sold, which incurs less loss to liquidity providers. If the assets are sold and then bought back, the transaction cost on O2DEX is significantly higher. Consequently, users tend to be more prudent while selling their assets, making it more conducive to building community consensus, allowing all users to share the responsibility of maintaining the token ecology.

Another feature of O2DEX is the way the tokens are distributed. As a completely decentralized project, O2DEX official website only serves as the initiator of the project. After the project is completed and launched, O2DEX will operate in the form of DAO and every user with O2 token holdings can participate in O2DEX ecological governance and make proposals or vote with their tokens.

O2DEX does not conduct private placement or any form of financing. The team only reserves 4.9% of the tokens as treasury funds which are mainly used for development, marketing, daily operations and DAO operations. Treasury wallet is equipped with 7 multi-signature managers. Any expense requires the authorization of at least 4 multi-signature managers. After the project is launched, the community will vote to elect the multi-signature managers through DAO, so the power is back in the hands of the community.

All platform token O2 are distributed to community users via airdrops. The team also launched the Galaxy Project and provides a reward of 20 million O2 tokens. Users with community resources can help the project form a fan community. Galaxy Project will eventually select 40 active communities and 500,000 O2 tokens will be awarded to the leaders of the winning communities. The Galaxy Project will greatly encourage the engagement of KOLs in the community. Thus more people will get to know and learn about  O2DEX, and help the project complete the cold start.

The above content comes from O2DEX’s official AMA. For more information about the basic functions of the project and airdrop events, please go to O2DEX’s social media for the full recap of the AMA.

 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Bitcoinist

Bitcoinist

Bitcoinist is the ultimate news and review site for the crypto currency community!

Related Posts

LBank Weekly Listing Report, 16th May 2022

LBank Weekly Listing Report, 16th May 2022

3 hours ago
Haechi (HAC) Is Now Available for Trading on LBank Exchange

Haechi (HAC) Is Now Available for Trading on LBank Exchange

4 hours ago
Elia Coin (ELC) Is Now Available for Trading on LBank Exchange

Elia Coin (ELC) Is Now Available for Trading on LBank Exchange

4 hours ago
Parody Coin (PARO) Is Ready To Surge With A Problem-Solving Ecosystem Like VeChain (VET) and Klaytn (KLAY)

Parody Coin (PARO) Is Ready To Surge With A Problem-Solving Ecosystem Like VeChain (VET) and Klaytn (KLAY)

15 hours ago
Earn With Maker (MKR) And BoostX While Crypto Giants Are Down

Earn With Maker (MKR) And BoostX While Crypto Giants Are Down

15 hours ago
Can Calyx Token (CLX) Be as Lucrative as Polygon (MATIC) And Avalanche (AVAX)?

Can Calyx Token (CLX) Be as Lucrative as Polygon (MATIC) And Avalanche (AVAX)?

15 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.