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OOE Token

Governance and utility token
OOE is the governance and utility token of OpenOcean that enables utility for users of the protocol and lets the community participate in governance. Governance token holders can shape the protocol’s future by suggesting proposals and voting on protocol parameters and future DEX and chain aggregations.
OOE is a multichain token minted on Ethereum ERC-20 with a finite supply of 1,000,000,000 that cannot be increased – there is no minting function in the token contract.
  • 1.9% of the total supply was claimable at the TGE (token generation event) for our early users who qualified for airdrop rounds 1 and 2
  • 33% of the total token supply is allocated for liquidity mining
  • Liquidity mining and trade mining programs went live at the TGE
  • The initial circulating supply at the TGE was 78,989,286 OOE

Contract addresses

OOE Token utilities

OOE token holders can utilize tokens for trading on OpenOcean, participate in governance via voting, provide liquidity and stake to earn, or simply hold. The OOE token’s utility is reflected in the incentives that holders benefit from when spending and deploying on the OpenOcean trading aggregation platform.

Trading fees

  • OOE can be used as a trading fee for derivative trading. OOE stakers in derivatives can earn a 20% fee rebate in derivative trading.
  • OOE will be further developed for gas fee for swap trading.

DAO Governance

  • ​Staking rewards: users can earn xOOE by staking OOE. The conversion is at 1:1 ratio and long-term stakers can earn more xOOE and higher APY.
  • ​Voting power: DAO forum is built on Snapshot by using xOOE for voting. Users can propose their ideas and vote for changes about our protocol.

Liquidity and trade mining incentives

33% of the total OOE token distribution is allocated to liquidity and trade mining rewards to distribute the token fairly, incentivize liquidity providers, and offset trading fees.
Liquidity mining: Reward programs are distributed to OOE pools to encourage liquidity providers and secure deeper liquidity. These liquidity pools are intended for bootstrapping OpenOcean liquidity by using the OOE token as a utility token, not for speculative purposes.
Trade mining: Trade mining programs are deployed to offset trading fees by earning OOE from related transactions and providing subsidies for OOE-related trading.

Distribution

Total OOE supply: 1,000,000,000‌ (1 billion)
  • 5.6% is distributed over 2 years to strategic investors that are partnering with us to create a sustainable ecosystem
  • 7.5% over 2.5-3 years for private placement and strategic round two
  • 29% over 3 years for OpenOcean Lab & co-builders to support protocol development, onboard value-adding ecosystem partners, community developers, and bounty programs
  • 33% over 5 years for liquidity mining to encourage future liquidity providers and incentivize users
  • 7% over 3 years to the ecosystem co-builders that manages OpenOcean ecosystem building, community incentives, and campaigns, etc
  • 15.9% over 3 years for the team and advisors
  • 2% to our early users, which were distributed upon token issuance

Release schedule