OpenOcean Token ($OOE) Use Cases
On OpenOcean, OOE is the project’s token for utility and governance, making it possible for members of the OpenOcean community to contribute to governance while enjoying utility as users.
Primarily when it comes to governance, holders of the token can influence the process as well as the future of OOE by pushing for voting and proposals on future decentralized exchanges, chain aggregations, and protocol parameters.
Let’s talk about the details now
OpenOcean’s OOE possesses a set supply of 1,000,000,000 which is pretty cut and dried; meaning it cannot be increased. OOE is also a multichain gem minted on Ethereum ERC-20.
From the total supply, up to 1.9% was cleared off the table at OpenOcean’s token generating event by early birds who made the list for airdrop rounds 1 and 2. Also from the total token supply, 33% is set aside for liquidity and trade mining programs which went live at the token generating event as well.
The token generating event saw an initial circulating supply of 78,989,286 OOE with the following contact addresses:
· Ethereum, ERC-20 0x7778360f035c589fce2f4ea5786cbd8b36e5396b
· Binance Smart Chain, BEP-20: 0x9029fdfae9a03135846381c7ce16595c3554e10a
· Avalanche, ARC-20: 0x0ebd9537A25f56713E34c45b38F421A1e7191469
· Polygon, ERC-20: 0x9d5565dA88e596730522CbC5a918d2A89dbC16d9
· Fantom Chain:
0x9d8F97A3C2f9f397B6D46Cbe2d39CC1D8Cf19010
· Huobi Eco Chain, HRC-20: 0x40817e1ab07fc872b7af6a959c4b7a8febf6c4ab
· Ontology, OEP-4: 9f4650436a446f635db2db989e7ac067dcea240d
· OKExChain, ERC-20: 0x40817e1ab07fc872b7af6a959c4b7a8febf6c4ab
So, essentially, anyone who holds the OOE token can not only take part in governance or utilize tokens, they can also hold, stake to earn as well as offer liquidity. Not bad for a new project if you ask me.
For more insight, the city of OOE can be identified in incentives holders enjoy when they deploy on OpenOcean’s trading aggregation platform and spend this token can also be used as a gas fee in both single and cross-chain swaps across public blocks.
The functionality of OpenOcean’s OOE also applies to their VIP membership and exclusive services. The VIP membership sets aside juicy rewards for holders and loyal users. And that’s not all. Under the VIP membership, there’s the SaaS platform which allows VIP members to secure exclusive access to the SaaS platform on OpenOcean which offers automated arbitrage tools for institutional investors.
One last perk of the VIP membership on OpenOcean is the fee premiums. Members can reap all the upsides that come with trading on CEXes aggregated by OpenOcean. These include token withdrawal fee subsidies, taker/maker fee premiums, trading fee subsidies, and so on.
Still, on the utility of OOE, tokens are great for margin in products with mixed margins. This helps to channel derivative trades on various exchanges. This alone boosts capital efficiency for traders by reducing the need for overall margin as collateral when transacting back and forth on platforms. One last thing OOE can be utilized for is the collateral lending margin.
The voting and proposals protocol on OpenOcean is just as simple and efficient as the utility. For the latter, the community can create proposals got holders of OOE to vote on. This way, everyone can participate in governance.
Form proposals, the team at OpenOcean remains committed to the community and their task of collecting proposals through multiple platforms. No one is left in the proposal process as long as a user wishes to post. This applies to go both token holders and community members.
For more information visit the channels below
