💙OOE 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 BNB Chain BRC-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
BNB Chain, BEP-20: 0x8ea5219a16c2dbf1d6335a6aa0c6bd45c50347c5
Arbitrum One, ERC-20: 0xDCbf4CB83d27C408B30dD7F39bfcabD7176B1Ba3
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
Deprecated OOE Contract Addresses
Ethereum, ERC-20: 0x7778360f035c589fce2f4ea5786cbd8b36e5396b
BNB Chain, BEP-20: 0x9029fdfae9a03135846381c7ce16595c3554e10a
Avalanche, ERC-20: 0x0ebd9537A25f56713E34c45b38F421A1e7191469
Polygon, ERC-20: 0x9d5565dA88e596730522CbC5a918d2A89dbC16d9
Fantom , ERC-20: 0x9d8F97A3C2f9f397B6D46Cbe2d39CC1D8Cf19010
HECO, HRC-20: 0x40817e1ab07fc872b7af6a959c4b7a8febf6c4ab
Ontology, OEP-4: 9f4650436a446f635db2db989e7ac067dcea240d
OKC, KIP-20: 0x40817e1ab07fc872b7af6a959c4b7a8febf6c4ab
Last updated