OccamX is building strong
The last few months have been difficult for the markets, and for ecosystems across the crypto space; we’ve had the collapse of major protocols, hacks, exploits, and more that have contributed to the current decline in value and interest of many projects. Despite this, for the majority of our existence we have remained the largest exchange by TVL on the Milkomeda ecosystem — this is in addition to our numerous technical achievements, partnerships, and listings formed along the way.
After the widely publicised Nomad exploit, and the general poor market conditions we have seen in the space recently, Milkomeda has unfortunately taken a hit to the general participation and liquidity within its ecosystem. We remain committed to serving the Milkomeda community as an important piece of its market infrastructure, however we are also thrilled to reveal we are working with some of our amazing partners to create an exciting new ‘Interchain’ future, in which we stand as the most advanced platform for both traders and liquidity providers in the DeFi space — with our technology and community untethered to any single ecosystem.
There will be far more information to come in the very near future about our plans, with some more sneak peaks within this article, but the end result is that we are delaying the launch of the OCX token until the implementation of $OCX Staking, which will occur within one month. We are doing this to ensure that our dedicated community — who have been staking for over a year for $OCX — get the strongest possible TGE, and whilst we understand that this will cause some frustration, it will give $OCX a far stronger long, and short-term footing.
At times like this, the best projects — the ones that will be providing value to their community for years to come — take stock, and build strong for their communities. Projects like ours are built to last and add value for our users over the long term, and that is exactly what we aim to do.
Delaying with purpose!
At this point we would like to make clear that we are aware of the community’s frustration regarding the short notice of these delays; we assure you all that no delay is ever taken lightly, and that every move we make has a purpose to benefit the community either in the short or long term. Regardless of the reason or our own sentiment on this, we appreciate that any delay is a hard pill to swallow for our community, and we thank you for your patience — we are doing this to ensure the best outcome for our community!
Let’s start from our initial delay:
After becoming aware of community questions regarding the release parameters of the $OCX token and some internal discussion, we concluded that there was merit to postponing the release of the $OCX token to gather more feedback, especially considering the short timeframe involved. We, therefore, took the action of delaying the launch of the $OCX token by 14 days beyond the planned release date of 09/09/2022 to the new date of 23/09/2022 — this was to allow time for arguments to be made by the community, and considered by the $OCX team.
We would just like to take a moment here to thank our community for their clear passion for our project and its success! The team has been overwhelmed by the amount of quality feedback we have received on this subject, and we have since been in constant internal talks to weigh and balance these views — with a result that may well surprise you, but hopefully you will appreciate its significance and necessity.
Why did we not clarify earlier, and wen $OCX!?
- During our discussions internally and with the community, our development team revealed that $OCX Staking was to become imminently available on the OccamX platform.
- A fairly obvious result of $OCX staking is lower selling pressure, and as this outcome would greatly mitigate some of the issues initially raised by the community, we made the decision to apply a second delay to the release of the $OCX token beyond the planned release date of the 23/09/2022, to after the release date of $OCX Staking!
The development of $OCX Staking changed the focus of our talks from the pros and cons of changing the pre-determined release parameters of $OCX (a difficult question of governance and user expectations), to a clear path with a positive outcome for all; with the only downsides being a further delay, some understandable backlash from the community, and a minor hit to our egos.
Part of our discussions revolved around the difficulty in the centralised manner of this decision-making process, which of course does not ‘sit-well’ with any team that believes in the ideals of true decentralisation. On balance though, we believe that taking a small amount of pain now and doing what we know is right for our community is the correct course of action — especially whilst our decentralised governance is not yet complete (largely due to the lack of our governance token; $OCX).
One last thing we would like to make sure is understood before proceeding, is that the further delay we propose below will not be wasted. Not only will we be implementing $OCX Staking, but we shall also be providing several articles such as a brand new technical roadmap (which is incredible by the way), an updated business model, and at least one other which we’ll discuss in more detail soon.
Clarity for our community
With all of this in mind, we present the final details of the distribution of the $OCX token.
The document below shows the final figures for $OCX distribution across all methods of acquisition:
- Google sheet detailing the complete Occam Community Campaign distribution of $OCX: OccamX Community Campaign — Sept 14, 2022 (Final)
The distribution of $OCX will remain the same as previously presented in our articles and PR excepting the date, and shown below for clarity:
- The following methods of acquiring $OCX will follow a 12-month linear vesting schedule that will begin in the days following the release of our $OCX Staking feature.
a. $OCX tokens accrued from delegating to the pOCC Cardano stake pool
b. Staking your $OCC tokens on OccamRazer
c. Liquidity mining the OCC/ETH pair on Uniswap
d. Holding the CNT variant of the OCC token in a Cardano wallet
2. $OCX tokens earned through providing liquidity to the OccamX DEX will be released in full, without vesting in the days following the release of our $OCX Staking feature.
We realise that not providing a hard date for the release will again be frustrating for our dedicated community members who have been diligently staking, and providing liquidity for a year or more — so we would like to provide a breakdown of where we are in the development of $OCX Staking, and a rough ETA:
- The smart-contracts for the staking of $OCX are complete
- What remains to be done is the creation of a new page on the front-end application for the staking interface
- We therefore expect the delivery of $OCX staking within one month, and distribution of $OCX to begin shortly after that
Final thoughts from the team
We hope that this article can bring at least some clarity, and that the reasoning behind the decision to delay the release beyond the planned date is fully understood as the incredibly difficult choice it was. Not having a concrete date for you all is disappointing, but we truly believe that the trade off is worth the price and that this choice represents the greatest value for the community.
It is somewhat ironic that the release of the $OCX token — the keystone to OccamX’s governance — became a subject of such rigorous community debate, and until the $OCX token is released OccamX’s governance systems can not be fully formed. As such we rely on our community’s input, and our own judgement to find the right course of action — we hope you can appreciate the measures we have taken to ensure community participation, even whilst lacking our full governance features.
There is far more to come for OccamX, and we will be releasing a new technical roadmap shortly that is sure to turn our traders’ heads!
