DEX Composition of the OpenX Project on Optimism
OpenXSwap's native DEX token, OpenX is used as a currency to facilitate trade among high-volume tokens on chain and our synthetic assets. It is also used to incentivize liquidity provision via emissions for these pairings and others as allocated by our governance structure. It also serves as the underlying asset used to mint xOpenX, which serves a function analogous to but different from Class A shares. xOpenX is used for governance but has its own market exposure and incentives.
OpenX, and thus xOpenX, are hardcapped, deflationary tokens, meaning issuance is limited and mechanisms are in place to deflate the circulating supply. Our exchange utilizes high-volume pairings, synthetics, and our algorithmic pegging processes to ensure volume - and thus fees.
Liquidity pools currently receiving OpenX emissions on OpenXSwap are called Active Yield Generating Pools. While we will introduce several revenue generating models using our synthetics, our hope is to one day be net emissions neutral by virtue of transaction fees alone.