🪙Tokenomics
OWX, the “optional” utility token and governance token of OpenWorld Exchange, is a standard ERC20 token of great economic value.
The total amount of OWX will be capped at 1 billion with a non-inflationary base. There will be no individual or entity that can issue new units of OWX.
OWX Distribution
OWX will be distributed gradually to all the contributors of OpenWorld. You can earn OWX through:
Trading in OpenWorld as user (Trade to Earn)
Providing liquidity as market maker (Trade to Earn)
Promoting OpenWorld among your friends or social media followers (Refer to Earn)
Participating our promotion activities
Being the builder of OpenWorld
Being OpenWorld ecosystem partner
Funding the OpenWorld project
Staking OWX to participate DAO governance
OWX as Utility Token
OWX Token can be used to pay trading fee at floor price.
Through staking tokens as insurance, users could raise money for a fund or investment product.
OWX as Governance Token
Stakers with minimum required number of tokens could initiate new proposal for OpenWorld. All stakers could vote for a proposal, and the voting right is proportion to (token amount*staking period left^0.5).
OWX Economic Mechanism
In order to maintain the economic value of OWX, OpenWorld Exchange will use the following measures:
Floor Price
“Floor price” will be determined periodically based on the latest token price multiplying 90%. Users could choose to use tokens to pay for transaction fee at the "floor price".
In the case that OWX's price falls below the “floor price”, users would have strong incentive to buy OWX to pay for fees to save trading cost, which would boost token price, as well as save the transaction cost and attract more users.
Buy Back Boost
A portion of profit earned through trading fee revenue will be used to buy back tokens from the market, which would boost token price.
Staking Benefits
By staking OWX, users could gain higher tier of account VIP level, and enjoy lower trading fees.
Stakers could choose to early unlock their staked tokens by affording a portion of penalty.
Stakers could earn staking rewards that comes from token buy back and early unlock penalty. Staking rewards will be distributed in proportion to one's (token amount*staking period left^0.5).
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