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10/25/2022

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OCX Distribution & Staking

The much awaited launch and distribution of OCX tokens has arrived! We’d like to start off this announcement with a big thank you for your patience during this time, and for the support and understanding you have given us.

OCX Distribution & Staking

The time has come

The much awaited launch and distribution of OCX tokens has arrived! We’d like to start off this announcement with a big thank you for your patience during this time, and for the support and understanding you have given us.

As promised, the launch of $OCX will be accompanied by the introduction of the OCX Staking function — but before we get into that, let’s briefly review the overall $OCX token campaign:

The OccamX DEX is powered by the $OCX token, which, during the campaign, users could earn by contributing to the Occam.fi ecosystem in a multitude of different ways; specifically 5 unique ways of getting involved were available:

  1. Staking your $OCC tokens on the OccamRazer platform
  2. Liquidity mining the OCC/ETH pair on Uniswap, or OCC/BNB on Pancakeswap
  3. Delegating to the pOCC Cardano stake pool
  4. Holding the CNT variant of the OCC token in a Cardano wallet
  5. Providing liquidity to the OccamX DEX

The total amount of OCX allocated to items 1–4 of the campaign is 30,000,000 OCX. Tokens for 1–3 are vested. The final OCX campaign calculation per address can be found here.

Item 5 on our list — Liquidity provision for the OccamX DEX — has its own, separate allocation of 15,000,000 $OCX, and any tokens earned this way are not subject to a vesting schedule.

Now that we have a basic overview, let’s dive a little deeper into the details.

OCX Distribution

There are several distinct groups of beneficiaries with regard to this distribution plan; some of these groups are subject to a standardized vesting schedule which we alluded to above, and will describe here for clarity:

  1. Users will initially receive a 5% unlock of their allocated $OCX tokens
  2. Following this initial unlock, there will follow a 2 month cliff period
  3. After this 2 month cliff period, $OCX tokens will be distributed to users monthly (January — December 2023) until the vesting schedule concludes

$OCC stakers & liquidity miners

As previously communicated, $OCX token distribution will take place in several distinct phases; the first of these will reward those users who have been contributing since the public inception of the OccamRazer platform; our early stakers and liquidity mining participants.

Token distribution for $OCC stakers and OCC LMs will start on the morning (UTC) of the 26th October 2022.

The total $OCX allocated to $OCC stakers amounts to 15,900,000 $OCX, with 4,000,000 $OCX being allocated to LMs. On the 26th of October 2022, an initial unlock of 5% will be distributed — further unlocks will follow the standard distribution plan.

Distribution will take place via airdrops to EVM addresses in the Milkomeda blockchain.

OccamX DEX Liquidity providers

Our LPs have been diligently providing liquidity to the DEX for months; providing the stable trading environment we have come to expect from OccamX.

Liquidity providers on the OccamX platform will be able to claim all the $OCX tokens they have earned through their various trading pairs on Wednesday, the 26th of October; at some time after $OCC stakers and LMs have received their tokens — these tokens will not be subject to the vesting schedule, and will be claimable through the OccamX interface.

pOCC delegators

Those who delegated their ADA to the pOCC staking pool during the campaign period will have also earned an amount of $OCX tokens relative to their time delegating, and amount staked.

Distribution of the allocated 10,000,000 $OCX tokens to pOCC delegators will occur on the 26th of October 2022, at some point during the evening, after the first two groups have received (or been given access to) their tokens.

OCC Cardano holders

Firstly, due to some technical constraints, Cardano holders will need to submit the address that holds your Cardano $OCC tokens, in addition to the amount of allocated $OCX (from the final calculation file here), to the following form in order to receive your OCX.

Please submit your details to the form by the end of 2022 to ensure you receive your OCX; also note that for Cardano holders, the minimum allocated amount to receive the tokens is 10 $OCX; addresses with allocations under 10 $OCX will not be distributed to.

Distribution for Cardano holders will start from Thursday, the 27th of October, and will not be subject to vesting — the total allocation to Cardano holders equals 100,000 OCX.

The arrival of $OCX Staking

In tandem with the beginning of the $OCX token’s initial distribution, we are also thrilled to confirm that $OCX single token staking will be available from the outset! Users will have the option to stake their OCX as soon as they receive it, allowing you to passively earn more tokens whilst we all await better economic times.

This feature will allow our users the ability to passively earn $OCX with a few simple clicks on the OccamX interface, and will be augmented through a buy-back program that uses a percentage of fees from the OccamX DEX to buy $OCX from the market for regular distribution to $OCX stakers.

The OccamX team has been collecting these fees since the OccamX platform went live, and for the dedicated OccamX staker, this means two things:

  1. DEX fees will be used to buy back $OCX at regular intervals,
  2. The first few epochs of staking should be particularly strong with regard to $OCX token earnings, due to the previously accrued fees present in the buy-back pool.

The first staking epoch for OCX will begin at 18:00 UTC on Wednesday, 26th October 2022; however, the staking interface on the OccamX DEX will be available before then, and users will be able to stake their $OCX tokens in advance.

OCX/ADA Liquidity mining

With the arrival of our native $OCX token comes the OCX/ADA pair on the OccamX DEX, and at 18:00 UTC on Wednesday 26th October — in parallel with the new staking and LM epochs — OCX/ADA farming will become active.

OCX/ADA will naturally be our most rewarding pool, having a high weight assigned to it from the outset to reward those who help provide stable liquidity. Remember, the more liquidity provided to the pool, the lower the APR%, so make sure you stake early to enjoy maximum rewards!

Moving into the future with OccamX

We would like to once again thank our users for their patience; we have designed this distribution program from the outset to reward our users — previous, and present — to the best of our ability given the current market turmoil, and we believe that what has been described here represents that ethos.

OccamX has some incredible plans for the future that have been alluded to in previous articles, and we are committed to bringing as much value as possible to our dedicated community through these developments and more!

If you have any questions regarding distribution of the $OCX token, please make sure to post them in our Discord server.


 

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ORIGINAL SOURCE

https://medium.com/occam-finance/ocx-dis...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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