OraiDEX
Published in

OraiDEX

OraiDEX coming with meta-staking and its governance token — ORAIX

Evolving into the world’s first AI Layer 1 for Data Economy and Oracle Services in Mainnet 2.0, Oraichain is deploying OraiDEX — a decentralized exchange platform that allows smooth & secure transactions of the native ORAI token and tokens within Cosmos chains and across other blockchains. OraiDEX will come with ORAIX as its governance token and a meta-staking to incentivize ORAI and ORAIX holders who help secure the network and provide liquidity. A fairdrop program for the royal community members of Oraichain and other Cosmos-based networks (ORAI, ATOM, OSMO, LUNA, JUNO, AIRI, and KWT) will be announced soon.

ORAIX Motivation

Oraichain has evolved into AI Layer 1 for Data Economy and Oracle Services with high throughput, more decentralization, and supporting both Cosmwasm and EVM smart contracts. In order to bring more liquidity, users, and transactions to Oraichain, OraiDEX is built as the first DEX on Oraichain.

OraiDEX is a CosmWasm smart contract-based decentralized exchange platform with multichain interoperability, optimal speed, and a lot of liquidity options for users. In order to incentivize users, govern its protocols, and pay utility fees, the OraiDEX team would like to introduce ORAIX a governance and utility token, and a meta-staking program for ORAI and ORAIX holders.

ORAIX is a CW20-compatible token and will be listed fairly on OraiDEX. There is a fairdrop of ORAIX to ORAI, ATOM, OSMO, and LUNA holders. AIRI and KWT holders from our partners are also included. Stay tuned for the detailed announcement!

Meta-staking on OraiDEX

It is a special program for ORAIX and ORAI holders who are delegating ORAI on the mainnet and staking ORAIX on OraiDEX.

(1) Delegators on the Oraichain mainnet can

(2) additionally stake single assets (ATOM, LUNA, OSMO, UST) and get rewards in the OraiDEX’s liquidity mining program:

  • Less impermanent loss
  • Get both rewards from delegating on the Oraichain Mainnet + liquidity mining reward on OraiDEX.

(3) Delegators on the Oraichain mainnet can stake ORAIX to receive long-term commitment of benefits:

  • Token airdrop from projects listed on OraiDEX
  • Revenue sharing

ORAIX: reward and burn model

ORAIX is designed to balance its inflation from rewards and spending from utility fees as follows. Note that a portion of utility fees will be burnt. It will be decided by governance voting.

Utilities:

  1. Pay meta-staking fee (the fee is taken directly from profits)
  2. Pay pool creation fee
  3. Pay OraiBridge fee
  4. Pay NFT Bridge fee
  5. Buy airdrop NFT tickets of newly listed projects on OraiDEX

Governance:

  1. Fee structures
  2. Meta-staking policies

Token distribution and listing price

Total supply: 1,000,000,000 ORAIX

  • Staking rewards: 30% (including fairdrop + initial listing)
  • Liquidity mining incentives: 50%
  • Developer pool: 15%
  • Community pool: 5%

Listing price on OraiDEX will be voted by ORAI holders later.

Below is an example:

  • Listing price: $0.025
  • Initial circulating supply: 20,000,000 ORAIX
  • Initial market cap: $500K
  • Diluted market cap: $25M

Staking rewards, liquidity mining incentives, and developer pool will be vested in 5+ years.

Updated: DAO Result Update — ORAIX’s Official Listing Price.

OraiDEX is in the testing phases and it’s surely exciting to see it come to life! Stay tuned and look out for the official updates from the Oraichain team regarding schedules for listing, fairdrop of ORAIX to ORAI, ATOM, OSMO, LUNA, JUNO, AIRI, and KWT holders, meta-staking programs and more!

About Oraichain

Oraichain is the world’s first AI-powered oracle and ecosystem for blockchains. Beyond data oracles, Oraichain aims to become the first AI Layer 1 in the Blockchain sphere with a complete AI ecosystem, serving as a foundational layer for the creation of a new generation of smart contracts and Dapps. With AI as the cornerstone, Oraichain has developed many essential and innovative products and services including AI price feeds, fully on-chain VRF, Data Hub, AI Marketplace with 100+ AI APIs, AI-based NFT generation and NFT copyright protection, Royalty Protocol, AI-powered Yield Aggregator Platform, and Cosmwasm IDE.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Oraichain

Oraichain

AI Layer 1 for Data Economy & Oracle services. Find us at: https://orai.io | https://blog.orai.io