Receipt-token for Harmony users bridging to Optimism and Arbitrum
hOpenX is the native token of the now-deprecated OpenX Project on Harmony. Its emissions have ended, and the tokens will be migrated to Optimism and Arbitrum using a one-way bridge. This means that hOpenX is now a deflationary, hardcapped token acting as a receipt-token.
1M OpenX Optimism (oOpenX) tokens have been set aside for reimbursement once liquidity depth and the project treasury are sufficient to absorb expected sell pressure from the migration.
The OpenX Arbitrum (aOpenX) token, if realized, would also set aside an allocation for hOpenX migration. This would mitigate potential sell pressure from the hOpenX -> oOpenX migration, and create a unique wrinkle for the aOpenX distribution model to play with from the outset.
Further: this will create a of choose-your-own-adventure situation for holders of hOpenX: They will be allowed to bridge their tokens to Optimism or Arbitrum or hold them on Harmony. There is, of course, nothing in principle stopping us from deploying a project on Harmony utilizing hOpenX, only note that, despite our efforts, the Harmony team has expressed no interest in such a deployment.