OccamX DEX Ready For February Launch

Occam_PR
Occam.fi
Published in
5 min readFeb 4, 2022

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Settle in as we provide an update on the launch of the OccamX DEX, as well as $OCX distribution for $OCC stakers, liquidity miners (LMs), ADA delegators and OCC-ADA holders. Users who have participated in the staking campaign will also find their preliminary OCX reward calculations, and a deep-dive into the updated OCX utility tokenomics, so read on!

OccamX DEX Launch

OccamX, our purpose-built Cardano DEX that will allow users to earn, swap, and provide liquidity to the large number of Cardano Native Tokens (CNTs) available on the market, is ready to launch in February on Milkomeda mainnet.

Milkomeda is a layer-2 Protocol for delivering Ethereum Virtual Machine (EVM) capabilities to non-EVM blockchains. Utilizing Milkomeda allows OccamX to launch with full capacity, smoother UX and much more efficient price discovery dynamics (think: same block trade settlement with < 3s finality), sooner than would have been possible on the Cardano mainnet alone.

OccamX is powered by the $OCX token, used for governance, rewarding liquidity providers, token burning events and more.

OCX Utility Tokenomics

The internal economics of OccamX is built around the OCX token that serves as the incentive unit powering in-ecosystem agent interactions. In particular, the utility of OCX will include (but won’t be limited to) the following:

  • Besides the maker fees that LPs receive, there is also an ongoing liquidity incentivization campaign. In other words, one receives curv-style OCX rebates for providing liquidity across OccamX pools. Pool weights are DAO governed;
  • OCX stakers are entitled to occasional token buy-outs and redistributions. For every swap, a small ADA-denominated difference between maker rebates and taker fees is accumulating into a special purpose pool. Occasionally, this pool will be used to buy OCX back from the market. The OCX bought will thereafter be distributed pro-rata across all the OCX stakers;
  • OCX stakers will hold voting power following the launch of the OccamX DAO, allowing them to have a say in governance decisions and the project’s trajectory. More importantly, however, are the DAO-governed pool weight parameters mentioned above.
  • Long term stakers will have larger voting power and higher weight for receiving rewards.

100,000,000 OCX tokens will be in circulation, the same as for OCC. The overall OCX distribution is 30% for the community, 20% to be held by the Occam team and 50% for future use in the OccamX ecosystem development, such as incentives for liquidity provision and long term staking.

OCX Community Campaign

Since the launch of the OCX token and staking campaign in September 2021, all the ways through which OCX could (and still can) be accrued have been designed to reward our early supporters and OCC stakers.

These mechanisms include:

  1. Staking OCC here.
  2. Staking Uniswap OCC/ETH liquidity tokens here.
  3. From now onwards, you can also receive OCX by providing liquidity in the new BSC pool on PancakeSwap here (more details below).
  4. Delegating ADA to Occam.fi Cardano Stake Pool (ISPO), live here.
  5. Holding OCC-ADA natively on Cardano Blockchain.

We have recently announced that the OCC-BNB pair is available to be traded on PancakeSwap. Users now have another way to participate in the liquidity mining campaign and be rewarded with OCX tokens — by providing liquidity to the BSC pool on PancakeSwap. You can add liquidity and start earning OCX tokens here.

In a previous update, we mentioned that a total of 20,000,000 OCX is to be distributed among OCC stakers, OCC/ETH LPs and OCC-ADA holders. Another 10,000,000 OCX have been reserved for the ISPO.

We can now confirm that the distribution split will be as follows:

  • A total of 15,900,000 OCX will be distributed to OCC stakers
  • 10,000,000 OCX will be distributed to the Occam.fi Cardano Stake Pool ADA delegators
  • 4,000,000 OCX will be distributed to OCC LMs
  • 100,000 OCX will be distributed to OCC-ADA holders.

The distribution of funds described above was defined in order to fulfil the previously shared commitments of campaign profitability. At the moment, campaign profitability for each group is as follows:

  • The OCC staking pool currently contains a total of $10,500,000 worth of OCC tokens. Participants are receiving 0.26 OCX for 1 OCC per month.
  • OCC-ADA holders receive 0.26 OCX for 1 OCC per month, the same as OCC stakers.
  • The OCC-ETH Uniswap pool currently contains $600,000 worth of liquidity. Liquidity miners are receiving 82.18 OCX for 1 OCC-ETH liquidity token per month.
  • For the status of the ISPO campaign head here.

Disclaimer: Please note that these rates are calculated based on the current number of participants, and will change with the course of campaigns.

The preliminary rewards calculations are available here. Please note that this file is for information purposes only and will be updated following the release of the OccamX DEX.

There will be a vesting period for the OCX distributed. Vesting will take place linearly and distributions will occur continuously and linearly with 12-months total vesting.

The staking campaign is still in full swing! We welcome existing and new community members to take advantage of the four mechanisms available for receiving OCX.

More ISPO Details

The initial stake pool offering (ISPO) was launched in order to encourage long term engagement with the Occam ecosystem, fund its continuous development and initiate a community centric distribution of tokens. Accumulation for OCX distribution started on Cardano epoch 290 (13/09/2021) and will last through to epoch 361 on Cardano — 40% of the ISPO is now done.

You can take a look at the OCX dashboard, which shows the current amount of OCX allocated across all ADA delegators, the total amount of ADA delegated to the pool, the OCX remaining to be allocated, the total number of delegators, and more.

You can still stake ADA to our pOCC pool now, or at a point up until the end of the accumulation period, and you will receive some portion of OCX rewards. However, the earlier and longer you stake, the more OCX you will receive in the future.

We are aware that the pOCC delegation pool is experiencing some issues with the Daedalus wallet. We are working closely with their team to fix the issues, but in the meantime, a range of other wallets are available for your use.

OCX Team Allocation

20% of the OCX will be distributed to the Occam team with a vesting period of 24 months. The OCX distribution terms for the Occam team include a 5% initial unlock (1,000,000 OCX). The team distribution will happen along that of the wider community.

When will OCX Distribution Take Place?

OCX distribution for all will start when total value locked (TVL) in the OccamX DEX is sufficiently high. This is to ensure that the OCX token has functionality once OccamX is operational, and there is liquidity and sufficient staking incentives within the OccamX ecosystem.

We will have more information on the OccamX February launch and exact dates soon, so make sure you follow us to stay up to date:

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