Launch/Participation Mechanics
A detailed breakdown for the launch phase of ORX
Last updated
A detailed breakdown for the launch phase of ORX
Last updated
ORX is a TitanX ecosystem asset, and as such, the launch phase is tailored to massively incentivise the locking of TitanX within the ORX minter contract. To achieve this, a massive 95% of supply is given to TitanX deposits. This is reflected in the expected ROI's of the minter shortly after launch.
For those with little time, or a lack of desire to understand the more complex push/pull factors included in the ORX supply distribution, simply deposit TitanX via the 'DEPOSIT TITANX' tab, and hold for as long as you are comfortable.
You can track the status of your ORX vests in the 'Vest ORX' tab further down the page.
The remainder of this article outlines the various push/pull factors which are aiming to make the minting and distribution mechanics of ORX some of the most interesting in not just TitanX, but all of crypto.
There are two primary methods of acquiring ORX via the minter. The first is via TitanX deposits, and the second is via Ethereum deposits. If both routes needed to be summed up in a sentence:
TitanX Deposits: are for those who want a majority stake in ORX, at the cost of greater time preference, less agility, and a once off claim process which penalises early claims.
Ethereum Deposits: are for those who want to support protocol liquidity, in exchange for the added benefit of capital agility, the earliest unlock time, and progressive unlocking (meaning no early claim penalties). Since ETH contributors are getting a much smaller percentage of supply, and are directly supporting protocol liquidity, a disproportionate share of future airdrops (IF they happen) MAY go toward ETH contributors.
For a slightly more extended breakdown, but still quite condensed description:
When you contribute ETH:
Your ORX tokens will drip over 12 weeks.
There's a 21-day waiting period before you can start claiming your ORX.
After the waiting period, you can claim your ORX tokens gradually as they become available (Drip).
The exchange rate from ETH to ORX is fixed (135,502 ORX per ETH).
There's a limit on total ETH contributions. If reached, any excess ETH will be returned to you. You don't need to worry about over paying.
During the launch period, all ETH is 'staged' for 14 days, meaning they get the same initial unlock time.
When you deposit TitanX:
Your ORX tokens will vest over 52 weeks.
There's a 28-day waiting period before you can early claim your ORX.
The exchange rate from TitanX to ORX will vary based on how much has been deposited in total. Being earlier is better.
Although the rate on this method increases over time, it is still getting a massive share of supply, and as such is the long term way to gain the most ORX.
Timing: ETH contributions unlock first, but are much less severe in size.
Vesting Period: ETH contributions become fully available faster (12 weeks) compared to TitanX deposits (52 weeks). To balance this, TitanX deposit rewards MASSIVELY outweigh ETH contribution rewards.
Claiming Process:
For ETH: After the initial 21-day wait, you can claim gradually until you draw your max reward amount.
For TitanX: After 28 days, you may initiate a claim, and after 3 additional days, mint your ORX.
Onboarding System: Only TitanX deposits can benefit from onboarding bonuses.
Exchange Rates: ETH uses a fixed rate, while TitanX rates may change based on total deposits.
When you deposit TitanX, you receive a massive share of ORX, but if you claim early, you will forfeit the vast majority of tokens. EVF's, or "Early Vest Forfeit's" are portions of ORX which are returned to the forfeit sink address (a multisig address which can securely hold the forfeited ORX).
100% of the deposited TitanX is kept within the minter contract for use in the ORX Buy&Burn.
100% of the ETH is routed to a Multisig wallet, with a member of the Ouroboros team present, plus at least one other non-team, prominent TitanX community member for accountability and trust purposes. We can't predict participation in the ETH contribution route, but if fully filled, at least 50% of ETH will be used for USDx liquidity provision, with additional capital held in reserve or used for expenses/ecosystem funding. For a USDx to have liquid value, there needs to be a substantial reserve of liquidity on the books so that true peg stability can be discovered.
