Pumpamentals
Driving value to, and keeping value in, the ORX token
Last updated
Driving value to, and keeping value in, the ORX token
Last updated
The ORX token carries with it a number of price positive and supply limiting distribution mechanics, designed to increase the value of the token over time, and to reward the strongest hands with the largest share of overall supply.
When you deposit to the ORX minter, 100% of the deposited TitanX can only be used for buying back ORX tokens. The LP tokens are locked within the ORX minter smart contract, and cannot be touched by anyone.
The ORX distribution mechanic employs a volume based bonding curve style approach for its token emission. What this means is that people who participate early, and in large size, will have a distinct advantage over those who come later. Put simply, the more you burn, the more you can mint. Every burn pushes the ratio higher, until the maximum supply is reached, and inflation drops to zero.
Once you deposit your TitanX, you are allocated a vesting entry which represents a future claim on ORX. You can vest (or claim) your ORX after 28 days, but if you immediately vest your claim, you will forfeit the vast majority of your tokens (up to 100% if you try to vest before 28 days!). Once you early vest a claim, you can never receive this allocation again, and your forfeited tokens will be sent to a forfeit multisig address.
In order to fully claim your ORX allocation, you will need to wait 52 weeks. The amount of claimable tokens rapidly increases after the 6 month mark. The implications of this are that those who are early and patient get the most tokens, but those who arrive later and are more patient than those who are early, can actually surpass those who were early and impatient.
The terminal supply of ORX is capped. Unlike other defi protocols which incentivise user action by diluting token holders, any future ORX staking mechanics which reward in ORX, will need to come from this fixed pool of supply. Genesis cannot mint more ORX. The impatient will pay the patient.
