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
Lukas Steffen
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.