Ociswap is a decentralized cryptocurrency exchange (DEX) that operates on the Radix platform. It offers permissionless trading of Radix-based tokens through an automated market maker (AMM) model and liquidity pools. Developed in 2021 and launched in 2022, the platform aims to provide a secure and decentralized alternative to traditional cryptocurrency exchanges.
History
Ociswap was launched in November 2021
Ociswap started with an MVP that was initially aimed at providing basic swapping functionalities within the Radix ecosystem. At its inception, no smart contract tools were available for Radix, which limited the initial design. However, the project's team was inspired by CoinGecko's top-100 list and began by listing top Radix projects, adding a swapping service later on.
Ocibot launched on the 3rd of April 2023, an automated community management tool that evolved from a basic airdrop registration bot to a full-featured assistant using Generative Pre-trained Transformers (GPT).
Ociswap’s brand identity crystallized during the Radix Grants Program retreat in Spring 2023. A set of questions from RDX Works CEO Piers Ridyard led to the adoption of the slogan "The Front Page of Radix," which has since been instrumental in uniting the project team and community around a shared vision.
Team
Florian Pieper
https://www.youtube.com/watch?v=IJ81EcyF0eg
Lukas Steffen
https://www.youtube.com/watch?v=HzcUhwP2yxc
Christoph Heuermann
Features
Mechanisms
Automated Market Maker (AMM): Trades are facilitated through liquidity pools rather than traditional order books.
Liquidity Pools: Users can contribute tokens to smart contract-based pools and become liquidity providers (LPs).
Price Calculation: Utilizes the constant product market maker (CPMM) formula to determine trade prices.
The price of a trade on Ociswap is determined using the constant product market maker (CPMM) formula, which is defined as x * y = k, where x and y are the amounts of the two tokens in the pool, and k is a constant. As users trade, the amount of one token increases while the other decreases, maintaining the constant k. This formula ensures that the price changes according to the size of the trade and the available liquidity in the pool.
Tokens
$OCI Token: The native utility token used for rewards, transaction fees, and governance.
$oOCI Tokens: Non-tradable tokens that offer options to buy $OCI at discounted rates.
Programs
SPLASH: A liquidity incentive program that boosts rewards for selected pools.
Ocinomics
A financial and governance system designed to incentivize long-term liquidity provision and community engagement.
veTokenomics: Encourages long-term holding by offering voting rights to users who lock their tokens.
Participatory Steps: Users can earn SPLASH NFTs by contributing to liquidity pools and locking their LP tokens.
Incentive Structures: Balanced approach to governance power distribution based on token lock duration.
Ociswap V2
Ociswap has moved well beyond its original constant-product MVP. The current protocol offers two pool types documented in the Ociswap docs:
Pool V2 – the classic constant-product (
x · y = k) automated market maker, spreading liquidity uniformly across the full price range.Precision Pool V2 – a concentrated-liquidity design that lets providers concentrate their liquidity within specific price ranges, targeting capital where it earns the most fees rather than spreading it thin.
Both pool types are built around modularity: Ociswap exposes configurable plugins called Hooks that let pools be extended with custom logic (fees, incentives, oracles) without forking the core contracts.
The native $OCI token has a fixed supply of 100,000,000, verified on-ledger via RadixScan – its mint and burn authorities are permanently set to deny_all and its rules are locked, so the supply cannot change.
Reported trading volume, September 2026
Ociswap publishes exchange-wide figures at api.ociswap.com/statistics, the endpoint its own site reads. At 23:07 UTC on 15 September 2026 that endpoint gave a seven-day trading volume of 11,069,976,003,118,183 XRD. Every XRD that exists, read from the Radix Gateway at the same time, comes to 13,527,177,664, so the reported figure is about 818,000 times the whole supply. The twenty-four-hour window on the same read gave 992,374 XRD across 663 swaps, which is the scale the exchange has traded at since Radix restarted on 11 September 2026.
Almost all of the seven-day figure sits in one pool. Ociswap's per-pool endpoint credits the XRD/BONK pool, component_rdx1czgt…awvvjts4m, with 11,069,975,987,199,123 XRD of it, leaving 15.9m XRD for every other pool on the exchange. The BONK in that pair is a Radix token of 1,000,000,000 units whose on-ledger description reads "BONK Radix version PUMP IT 100x!!!" and whose info link points at bonkcoin.com, the site of an unrelated Solana memecoin. Read from the Radix Gateway at state version 558,348,795, the pool holds 4.858768 XRD and 1.007088 BONK.
The ledger records no trading of that size. Ninety-eight transactions have touched the pool since it was created on 6 October 2023, fifty-nine of them on 12 September 2026, the day after the restart. In the seven days the endpoint covers, sixty transactions moved 3,823 XRD between them, and the largest single one moved 1,015 XRD. Across the pool’s whole life the figure is about 195,000 XRD. The reported seven-day volume is about three trillion times what the pool traded in the same period.
The one-hour and twenty-four-hour windows on the same endpoint are unaffected. The all-time total is not: the same pool is carried at 11,069,975,987,354,351 XRD of lifetime volume inside an exchange-wide all-time figure of 48,587,050,624,372,502 XRD. DefiLlama, which builds its own Ociswap volume series rather than reading this endpoint, gives the exchange 7,585 USD of trading over the same seven days and 90.5m USD over its whole life, against the 7.96 trillion USD and 197 trillion USD the endpoint reports for the two periods.