OpenX Harmony Token Address : 0x01A4b054110d57069c1658AFBC46730529A3E326
OpenX BSC Token Address : 0x9929b92f4C743D014c68dFE022D04C8C8FcfA37A
OpenX Ethereum Token Address : 0x57d579F483854c62FEf850B8a5332B0d8424b7E2
OpenSwap’s native token, OpenX, provides the foundation for the projects's reward system and fee injection. It is a means of payment to liquidity providers for the fees collected by trades. There was no presale or ICO for OpenX.
All tokens in circulation were fairly distributed to Liquidity Providers and single asset stakers. The OpenSwap token underwent a migration from V1 to V2 in October of 2021.
The OpenX token has both inflationary and deflationary mechanics, Inflation going to yield farmers for providing Liquidity and delfation caused by a fee structure that splits the fee between rewarding liquidity providers and a token burn.
Half of the 0.3% fee applied to all trades is used to buy back and burn OpenSwap Tokens from the ONE/OpenSwap pool.
Volume Increases Fees -> Fees Generate Burns -> Burns Increase Value and APRs -> Higher APRs Increase Liquidity and Volume ->Volume Increase Fees
Roughly 13,500,000 tokens will be minted each year. There is no max supply for OpenSwap. Inflation is offset by a burn mechanism.12,000,000 tokens will minted for issuance as rewards for staking liquidity on OpenSwap.
The team is committed to working on OpenSwap for the foreseeable future. These funds will serve as payment for the work the team will accomplish as well as cover operation costs.
OpenSwap Yeild Farmers get 87.5% of the total supply. The dev team receives a maximum of 12.5% of the minted tokens.
During the initial month of OpenSwap, there was a greater minting rate to reward early liquidity providers. This took place between mid May 2021 and mid June 2021. A total of 13,000,000 Tokens were minted and distributed to the early liquidity providers. 13,000,000 million tokens corresponds to 1 year and 1 month worth of tokens. This enabled liquidity providers who bootstrapped our initial liquidity to earn a significant amount of tokens during this time, around 13X normal issuance.This was and will be the only time the token distribution rate changes from the normal rate.