Introducing Organix, a Decentralized Synthetic Asset Issuance and Trading Protocol | Community AMA with Micheal
Hello, everyone! I’m the founder of OG Capital and a volunteer in the Organix community. My name is Michael. It’s a great honor to meet you guys in the form of AMA. Today I would like to share with you something about Organix, a decentralized synthetic asset protocol.
It’s really not easy for you guys who have been able to stay in the crypto community until now. In fact, neither am I.
Do you all feel the same as me? We all know that centralized exchanges like trading with long shadows, but we still can’t help but join it. We all know that ETH has a bad performance, but the rich assets on it have a profitable effect, allowing us to continue mining with tears. We all know EOS has a good performance, but there are rarely high-quality assets on it, which can neither retain projects nor retain users.
All of this may change because of one place — Organix
If I tell you, there is one place where you can trade stocks, bitcoins, and futures at the same time with one account. Without any slippage, enjoy the unlimited market depth. Will you be interested in it?
If I tell you, there is one place where you can go long and short, and you will be not afraid of the long shadows caused in centralized exchanges. Will you be interested in it?
If I tell you, there is no need to worry about resource problems such as GAS, CPU, RAM, etc. The project team will help users solve it. It doesn’t take too much money like hundreds of thousands or millions of RMB yuan for you to participate. And you can trade with money like hundreds or thousands of RMB yuan. Do you believe it?
That place is the Organix Synthetic Asset Exchange, which is a decentralized synthetic asset issuance and trading protocol.
Simply put, by collateralizing Organix’s token OGX, users can synthesize and trade a variety of valuable assets and financial products, including but not limited to digital currency (BTC and ETH), bulk commodities (gold and crude oil), equity tokens, funds, binary options, and other priced assets and their reverse short-selling assets.
It is too abstract to explain it in this way. I will give you an example that is closer to life to clarify what we can do at Organix.
What kind of investment can you make if you have 100,000 RMB? You can’t even buy a 100-share board lot for Moutai in China A-shares, because it costs 170,000 RMB. If Ant Group is listed on the STAR Market, you are not able to buy it, because you need at least RMB 500,000 to open an account on the STAR Market. If you want to speculate in US stocks and buy Tesla shares, it is even more difficult. In addition to the capital threshold, there is cumbersome information to submit. Therefore, the current financial investment threshold is still too high for ordinary people.
But, what can you do at Organix Synthetic Asset Exchange if you have 100,000 RMB? You can buy 0.1 board lot of Moutai stocks + 2 board lots of Ant Group stocks + 1 board lot of Tesla stocks + 0.2 Bitcoins, which adds up to almost more than 90,000 RMB. And you can still bet on football with a few thousand RMB yuan left and buy Barcelona to win. Isn’t it interesting? This is the charm of Organix Synthetic Asset Exchange, which allows ordinary people to invest globally without leaving their homes.
Organix is a perfect decentralized protocol
The organix ecosystem has clear roles orientation, with 4 roles in total, namely initiator, participant, rule maker, and result source.
The initiator is the person who collateralizes, who can be any holder of OGX tokens. Their motivation to collateralized is to earn inflationary rewards, handling fees, and bet against other traders. In a sense, holding OGX tokens and put them up as collateral is equivalent to the entire Organix shareholder.
Participants are those who participate in synthetic asset transactions. They do not need to hold or collateralize OGX to invest, and enjoy a very low fee rate (currently 0.2%) and trading experience with unlimited market depth.
The rule-makers are the developers and supernodes of the protocol, allowing users to various synthetic assets and formulate corresponding rules to ensure the distribution rules. In the future, Organix will operate with Dao, with OGX holders initiating proposals and voting on them.
The resulting source is an Oracle, which is used to transfer the real-life asset prices and results to the smart contract. The price of all the assets of Organix ecosystem comes from the Oracle.
Organix has 4 major advantages
1. It can trade everything. By using one account, you can trade digital currencies (BTC, ETH), commodities (gold, crude oil), stocks, funds, binary options, and other priced assets and their reverse short-selling assets.
2.It has unlimited market depth. The Oracle feeds the price, and the trader can trade unlimited amounts at this price at the moment of the transaction, and there is no slippage.
3.It has extraordinary performance. Users don’t need to worry about resource issues such as GAS, CPU, RAM, etc., and the project party will pay for them to create a smooth trading experience.
4. It sets an ultra-low threshold. Mobile wallets can be operated, and money like hundreds or thousands of RMB can be traded. This makes it possible for Defi to enter thousands of households.
Next, Organix will organically combine more transaction, lending, wealth management, insurance, and other functional agreements to create a better OGX ecosystem. Our goal is to develop into Wall Street on the blockchain!
So how do you get involved in Organix?
First, you need to use a blockchain wallet, such as the TokenPocket, to register your own EOS account.
TokenPocket download link: www.tokenpocket.pro
EOS account registration link: https://account.tokenpocket.pro
Then you can go directly to Organix through the homepage of TokenPocket, or search Organix in the DApp search box. Organix link: https://ogx.network
Next, you need to choose the corresponding role. Do you want to be the initiator of the debt or an ordinary participant? The main difference is that the loan initiator needs to hold OGX, which can be bought in DApps such as DFS, Defibox, Dolphin, and Gacha in the TokenPocket. The initiator collateralizes OGX into the system to mint the stable currency OUSD, and at the same time has debts. The system will distribute rewards to the initiator every week according to the proportion of debt. To put it simply, the initiator is the shareholder of OGX, who will bear the corresponding risks while enjoying the benefits. Ordinary participants do not need to hold and collateralize OGX, and they have no debt. As long as they buy some OUSD in DApps such as DFS, Defibox, Dolphin, and Gacha in TokenPocket, they can freely trade synthetic assets.
Organix’s economic model is composed of 4 modules:
● Stake & Mint
● Burn & Unlock
● Synthetic assets trading
● Claim Rewards: The rewards consist of 2 kinds, inflation rewards, and handling fee rewards.
The operation interface of Organix
On the upper left corner: the homepage of Organix. There are two big percentages at the top, which are the user’s current stake rate of 549%, and the system’s minimum rate of 500%. If the first one is lower than the second one, you will not receive rewards.
This is an incentive for buying OGX and continuing to stake or to burn the OUSD that the user is holding so that the stake rate meets the system’s minimum.
There are 4 modules in the middle of the homepage, namely minting, burn, trade, and rewards.
The first module is minting, which is for staking OGX to mint OUSD, generating debts at the same time. The amount of debt affects the rewards. Minting OUSD reduces the stake rate.
Note: After minting, you will have to wait for 2–3 minutes before burning. This happens because system liquidation takes time.
The second module is burning, which is the opposite of minting. By burning OUSD, you can get back the staked OGX, reduce debt, and increase the stake rate. Basically, a reverse operation.
The third module is trading. You can access this trading section even if you don’t hold any OGX. As long as you have OUSD, you can trade various synthetic assets without slippage. You can choose a token. Green ones are O-type, which means long; red ones are I-type, which means short.
The fourth module is claim rewards, which can be claimed every week, with the condition that your current stake rate is higher or equal to the system’s minimum. What happens if you don’t meet it? There are 2 solutions:
● Buy OGX and stake them → increase stake rate
● Burn OUSD to reduce debt → increase stake rate
OF course, you can also combine both of the solutions presented above.
There are two kinds of rewards:
● Handling fee reward: the reward is OUSD, which can be credited to the account immediately after receiving it.
● Inflation reward: the reward is OGX. After receiving it, it will be deposited in the custodial pool and transferred to the account one year later. This is to reduce OGX’s selling pressure in the market and help the OGX token price to rise steadily.
Organix Interface
In [Overview], we can see the various parameters of the system, such as: the total amount of OGX, the total value of OGX, the total value of synthetic assets, liquidation rate and so on, as well as the distribution of various synthetic assets in the system.
In [Me], , you can see your profitability and now a newly introduced feature: invitation rewards. Each user can generate an invitation link, and 10% of the invitee’s lifetime transaction fee will be credited to the inviter. Yes, the lifetime tx fees! So take the action and don’t miss it! It’s a great opportunity to earn money with little effort!
This is everything I had to share in the introduction to the Organix protocol today. Next, I will share the FAQs of Organix, which can hopefully help you with most of your questions.
The mainnet of the project is planned to be launched at the end of this month, and we would like to invite you all to join us! Thank you, everyone, if you have any questions, you can add join Organix’s Telegram group:
Organix Protocol
Organix is a decentralized synthetic asset issuance and trading protocol based on EOS, which can mint synths like fiat currencies, commodities, cryptocurrencies, inverse cryptocurrencies, and cryptocurrency indexes through staking OGX as the collateral.
Telegram: https://t.me/OrganixProtocol
Twitter: https://twitter.com/OrganixProtocol
