Tokenomics of OROX

HYPE
HYPE
Jun 8 · 5 min read

Introduction

Cointorox Token (OROX) is an ERC20 standard token deployed on the Ethereum blockchain. It is a utility token actively fuelling the Cointorox Ecosystem which consists of: an AI-powered Trading Signals Service, Marketplace for Cryptocurrency Users, Browser-based Decentralized Wallet Supporting Atomic Swaps, Airdrop Central, Blockchain Games and Prediction Markets Based on Augur Protocol.

Token Name: Cointorox

Token Symbol: OROX

Decimals: 18

Token Contract Address: 0x1c5b760f133220855340003b43cc9113ec494823

Total Supply: 5,568,284.285 OROX (continuously decreasing)

Circulating Supply: 4,622,357 OROX

Utility

OROX is used in various ways to fuel the overall Cointorox Ecosystem.

AI-powered Trading Signals Service

Community Member Validation

This is an exclusive members-only service, limited to Cointorox Community Members. OROX is used to validate community memberships — there will be a minimum required amounts to hold on your ETH wallets to be considered as a ‘community member’ and this is checked on a weekly basis to validate memberships. Those failing to hold minimum specified amounts will not be able to enjoy the trading signals service. The minimum required amounts are subject to change according to the changing value of OROX on the markets.

Newsletter Subscriptions

Comprehensive weekly reports highlighting the signals and predictions of the week will be sent out as newsletter subscriptions, in addition to the 4-hr and Daily signals provided on Telegram. This monthly subscription will require users to pay in OROX. All OROX revenues earned as such are burned, allowing a continuously decreasing total supply.

AtomicSwapWallet.io

Fees

The browser-based decentralized wallet accepts ERC20 token listings and any fees earned in the processes of listing a new token will be used to purchase & burn OROX from the markets.

WeShopwithCrypto.com

Form of Payment

OROX can be used to purchase any products or services on the WSWC marketplace.

Vendor Upgrades & Product Promotions

There are product upload limits for vendors on the WSWC marketplace and vendors are required to purchase ‘upgrades’. OROX can be used as a form of payment to purchase these upgrades. Additionally, vendors can promote their products by purchasing marketing services available on the WSWC vendor dashboard. OROX earned directly as such will be burned and if payments were made in other currencies, we will use those to purchase OROX from the markets to burn them.

Airdrop Central (cointorox.com/airdrop-central)

Base Token for Airdrops

Projects willing to promote the use of their tokens for FREE on the airdrop central are required to either host a full airdrop of their tokens towards OROX holders or host OROX giveaway campaigns, further providing value for OROX holders.

Giveaway Campaigns for Social Media Growth

We help promote campaigns for free if they are giving away OROX. By hosting an OROX giveaway, we share the campaigns to help an individual’s or a project’s social media pages grow whilst further promoting OROX towards cryptocurrency users.

Paid Listings

There is a paid campaign management service on the airdrop central and we encourage users to pay in OROX by providing 10% discounts for payments made in OROX. Otherwise, if the listings were paid in other currencies such as BTC or ETH, we will use those to purchase OROX from the markets & burn them.

Blockchain Games

This ecosystem platform is currently under development and the following use cases are subject to change accordingly as we launch the game(s).

The main idea is to use OROX as in-game points to allow users to purchase special items within the game(s). Any OROX earned as such are burned/permanently destroyed from the markets.

Prediction Markets based on Augur

Base Trading Pair

We will feature OROX as one of the base trading pairs on the prediction market, along with ETH.

Fees

OROX will be used to determine fee structures for users as they place their bets on subject matters. Additionally, those who wish to create a prediction subject will be required to pay in OROX. Revenues earned as such are burned.

What to Expect

As time passes by, Cointorox will slowly mature and fully develop into a comprehensive ecosystem whereby OROX is actively utilized to fuel the platforms. These individual platforms will work to further create use cases for OROX. Here are some things to expect over time.

  1. Reduced amounts of tokens burned — as the value of OROX increases over time, the amount of OROX used as fees will decrease (e.g. What used to cost 100 OROX can turn into 1 OROX). This means total supply won’t necessarily reach ‘0’ and the amounts of tokens burned will likely decrease over time.
  2. Increased market demands over decreasing circulating supply — it is much expected that the circulating supply will drastically decrease over time as we continuously burn tokens and provide incentives to hold OROX (e.g. airdropping other project’s tokens to OROX holders, validating community memberships by reviewing the amounts of OROX held on wallets).
  3. More platforms joining the Ecosystem — Cointorox is still in its early phases and there’s a lot of room for growth and expansion. What started as a simple solution to help users buy/sell cryptocurrencies easily, has grown into a comprehensive ecosystem consisting of 6 different platforms. We are constantly on the lookout for great projects willing to join the ecosystem and it is expected that the number of platforms within the ecosystem will grow significantly over time.

For more information, please join the community on https://t.me/cointorox.

HYPE

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HYPE

The World’s First Consensus-based Token Allowing Users to Collectively Experiment with Inflationary & Deflationary Rates via Monthly Votes (Burn-Freeze-Melt).