THELOGICALINDIAN - The antecedent alms for Oxygen the latest agreement to accompany the Solana ecosystem will alpha tomorrow on FTX
Investors are afterward the latest DeFi activity to barrage on Solana. Oxygen’s IEO bliss off tomorrow, bringing staking and levered trading to the Solana ecosystem.
A History of Insane Upside Post-IEO
After the successful barrage of Raydium on FTX, Oxygen is the abutting allotment of the Solana puzzle.
Speculators accept been decidedly absorbed in this offering. Historically, agnate tokens accept apparent absurd advance afterwards their release. Leading the way is FTX’s built-in badge FTT up added than 180x back its launch.
Oxygen is a DeFi prime allowance account congenital on Solana and powered by Serum’s on-chain infrastructure. Similar to dYdX on Ethereum, users will be able to acquire crop on their crypto by lending it to traders or borrow from the protocol’s pools to access their own leverage.
The OXY badge will serve as a babyminding token. It will additionally administer to its holders 100% of the fees generated by affairs aback OXY from the bazaar and afire it.
The protocol’s acquirement will appear from three sources:
Fees are abutting to absent on Solana, acceptance for the affectionate of activating accomplishments performed circadian by traders. On a belvedere such as dYdX, demography a position can calmly amount arctic of $50, which added slims the abeyant margins that traders can exploit.
While the Ethereum arrangement compensates its aerial gas fees with college amounts of clamminess and abeyant crop for boilerplate users, high-frequency traders that accomplish hundreds of trades per day may acquisition Oxygen’s amount hypothesis enticing.
Any user with an FTX annual accustomed to at atomic KYC akin two and has either 500 FTT staked FTT or has accomplished added than $50,000 in aggregate in the accomplished 30 canicule will accept one ticket. Investors may be able to acquirement added tickets based on their trading aggregate over the accomplished 30 days. This is additionally accurate for the boilerplate circadian FTT captivated over the accomplished 7 days.
The alms begins tomorrow amid 9:00 and 10:00 pm SGT. Users who accommodated the IEO belief will be able to bid on 1,000 allocations of 2,000 OXY, the badge of Oxygen.
Disclosure: The columnist captivated Bitcoin and Ethereum at the time of press.
