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What is OXY coin? What is it used for?

How OXY coin is used in the protocol. Oxygen protocol is a DeFi prime brokerage for borrowing to short and for leverage.

OXY coin

OXY is the governance token of Oxygen Protocol on the Solana blockchain.

OXY coin is used for

  • Governance
  • Rewards to LPs
  • Reduced protocol fees
  • Yield through holding (coming)

How could value accrue to the token?

Fees

  • In the future Oxygen will charge fees on a fraction of the lending on Oxygen.

Burn

  • Some of the protocol fees will be used to buy and burn supply.

What is Oxygen Protocol?

Oxygen protocol is a DeFi prime brokerage for borrowing to short and for leverage.

It’s made to be highly scalable and handle transactions faster than traditional DeFi protocols.

It uses a portfolio of assets and is built on the Serum orderbook.

  • A users deposits their funds in the smart contract while still maintaining custody through their Solana wallet.
  • Earn lending fees and trading fees from the Oxygen Protocol.

Governance

100 % of the fees are governed by token holders.

Reduced fees for borrowers and lenders

  • Tiered reduction from Holding 1 – 1000000 OXY
  • Reduced fees from 7.5% – 15%

OXY Tokenomics

Total supply: 10 000 000 000

Contract

Distribution

  • 45% Community fund
  • 25% Product and tech
  • 10% Team
  • 10% Sale
  • 8% Partners
  • 2% IEO

OXY Token Sale

IEO: $0.1

DOCS

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OXY coin price

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