Frequently Asked Questions on Organix, a Decentralized Synthetic Asset Protocol
1. What is Organix?
Organix is a decentralized synthetic asset issuance and tranding protocol.
2. What is OGX?
OGX is the platform token of the Organix protocol.
3. What can the Organix do?
With an excess amount of OGX, users can synthesize various valuable assets and financial products, including but not limited to digital currencies (BTC, ETH), commodities (gold, crude oil), equity tokens, funds, binary options, and any other priced assets and their reverse short sale assets.
4. How does the pricing of OBTC and IBTC come into being?
The pricing of OBTC is the same as the spot price and the initial price of IBTC when Organix is launched is the same as that of OBTC. They started to move in the opposite direction with subsequent price changes. For example, the initial prices of OBTC and IBTC are both 2,000 USD but when OBTC rises to 3,000 USD, the price of IBTC drops to 1,000 USD and when OBTC falls to 1,000 USD, IBTC rises to 3,000 USD.
5. Will Oracle crash?
The probability is very low. Even if there is a problem with the oracle, it will not affect the online price. If the asset price has not been updated for a long time, the system will be locked and cannot be traded until the oracle price recovers.
6. Can synthetic assets traded on Organix be monetized?
Currently, monetization can’t be operated in the system but the assets can be converted into spot assets through a third-party platform and then cashed. Over-the-counter channels will be opened in the later period and more and more currency can be monetized directly, like OUSD and OBTC.
7. What are the advantages of Organix compared to the SNX project?
1. The user experience of Organix is smoother. Transaction confirmation can be done quickly with the help of the powerful performance of EOSIO;
2. Due to the lower threshold, users do not need to worry about resource issues such as GAS, RAM, CPU, etc., and Organix will pay for it, making the mass adoption of DeFi a reality;
3. Organix’s unique invitation mechanism can attract more users to participate in the transaction, allowing synthetic assets to release greater value.
8. How does Organix achieve zero slippage and unlimited trading depth?
The transaction prices of all tokens of Organix are uniformly traded at the price provided by the oracle and there is no counterparty. All tokens are minted through synthesizing OUSD.
9. How do you prevent the forced liquidation when the collateral rate is lower than 200%?
When the collateral rate is lower than 200%, the position will not be immediately liquidated but will be marked as liquidation pending. At the same time, there will be a grace period, currently 3 days. If the collateral rate has not recovered after the buffer period, it is open to be liquidated by others. It can be avoided by tracking the collateral rate when the price fluctuates greatly.
10. What do “O” and “I” assets represent?
Assets starting with O, such as OBTC and OETH, have the same price as BTC and ETH. When ETH rises by $10, OETH will also rise by $10;
For assets starting with I like IBTC and IETH, the price trend is opposite to the price trend of BTC and ETH. that is, when BTC rises by $10, IBTC falls by $10, and when ETH falls by $100, IETH will rise by $100.
11. Is Organix secure?
Organix has been audited by the top blockchain audit company PeckShield. Multisig mechanism and strict risk control are implemented to ensure safety.
12. Can I see my synthetic asset tokens in the wallet?
Yes, you can.
13. How do synthetic assets have better liquidity?
We will cooperate with other third-party DeFi protocols and provide market-making rewards.
14. Who controls which synthetic assets to list?
It is currently decided by the team. But it will be decided by OGX holders through voting in the late period with DAO governance.
15. When will synthetic assets such as gold, oil, and stocks be added?
It depends on the development of the project and DAO governance.
16. Will there be regulatory pressure when synthetic assets such as stocks and gold are launched online?
Organix is a decentralized synthetic asset protocol that will be operated by DAO in the later period and the community will vote to decide on which synthetic assets to launch.
17. How do you solve the Resource problem of EOS?
Organix will pay for the resources.
18. Will Organix add token swap functions like DFS?
Currently, there is only synthetic assets swapping in the Organix system, but it will support the exchange with cooperative currencies such as DFS soon.
19. Organix currently only supports OGX token collateral for synthetic assets. Will it consider adding other tokens as collateral in the future?
Yes, but not in the short term.
20. Can you summarize the mechanism of Organix in one sentence?
Stake OGX to generate OUSD, OUSD can be traded for everything.
21. Why do we need 800% target collateral rate?
Considering that the price of OGX may fluctuate greatly in the early period, the target collateral rate will be gradually adjusted in the later period.
22. What is the inflation reward token and what is the handling fee token?
The inflation issuance rewards will be distributed in OGX, and the handling fee in OUSD.
23. Will the official version of Organix have leverage?
Assets with various leverage will be gradually added.
24. Why is there a demand for synthetic assets?
Because the current DeFi asset variety is not rich enough and most of the prices are not stable enough. Synthetic assets have a wide range, which can meet the diverse needs of investors to trade from home.
25. After the Organix mainnet is launched, OUSD cannot be destroyed immediately after minting. It takes 3 days. Why? Can I trade during this period?
It is to balance flexibility and prevent users from only minting before claiming rewards. Hence, we set a 3-day waiting period before burning, during which normal transactions can be performed.
26. Can the inflation rewards in Organix continue to mint synthetic assets?
Yes.
27. How do I check if I have made a profit?
It has been added on the page but it is for reference only considering that synthetic assets can be transferred.
28. When synthetic assets can be traded on other DEX, will it affect Organix transaction fees?
Using spot and synthetic assets to trade in other DEXs will not create transaction fees for the Organix system, but other DEXs can’t compete with Organix in terms of depth.
29. Can synthetic assets be exchanged into OGX through platforms such as DFS, so that there is no need to redeem them?
Converting synthetic assets into OGX through other channels will not eliminate your debt, because it is over-collateralization at the beginning. Your synthetic assets can only be exchanged for a small amount of OGX in other DEXs.
30. Where does the Organix oracle price feeds come from?
Data from multiple exchanges.
31. Do I need to wait for two or three minutes before conducting another operation like trading on the official version of Organix?
The interval is only required when trading the same currency. For example, after buying OBTC with OUSD, the interval is only required when selling OBTC, and continuing to buy OBTC or trading other tokens will not be affected.
32. If the bull market comes and everyone buys O synthetic assets, does it mean that no one will lose ?
If everyone buys the same asset, there won’t be any O or I asset holder losing money.
33. Will Organix add K-line, transaction records, and other functions?
Yes, Organix is more like an ecosystem, and various function sections will be gradually added later.
34. If I make a profit in synthetic assets, how do I transfer the profit into OGX?
The profit can be burnt and exchanged for OGX or be exchanged through a third-party platform.
35. Which loan factors affect the inflation and transaction fee rewards?
They depend on the ratio of the user’s debt to the total debt of the system. The more the debt, the more the rewards but the premise is that the target collateral rate is reached.
36. If half of the assets are OBTC and the other half is IBTC, can the risk be hedged?
No, half for OBTC and half for IBTC are equivalent to holding OUSD by 100%.
37. What factors influence the number of overall OGX inflation?
Time, the OGX inflation volume gradually reduces over time.
38. I have assets such as BTC or ETH, how do I participate in Organix?
At present, you need to exchange them for OGX before participating; later, you can directly over-collateralize them to generate OUSD and participate in Organix.
39. Organix’s mechanism is very complicated. How will you educate newbies?
Organix team will add more prompts, tutorials, and demostration over the time.
