Bitcoin, Blockchain & Cryptocurrency News

Oxygen Protocol to List OXY Tokens on BitMax

BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the joint primary listing  of the Oxygen token (OXY) with auction facilitation for its platform users. The auction will begin on Bitmax on March 11 at 9:00 a.m. EST and the listing will go live on March 16 at 9:00 a.m. EST.

Oxygen Protocol is an on-chain, decentralized, non-custodial prime brokerage built on the Serum DEX and ecosystem, running on fast Solana public blockchain, and seeded by the Maps.me 2.0’s massive userbase. Oxygen will start with a borrow-lending protocol before moving to recreate quasi-marketplace- business units that are typically part of investment banks and making them accessible to everyone.

Oxygen is built upon a pools-based infrastructure, wherein users can create a pool by depositing their assets and marking which ones to lend. The clearing price for Oxygen’s borrow-lending is market-based through on-chain order-book matching using Serum DEX, instead of a pre-set, manually adjusted market model. Users can generate yield on their portfolio while borrowing other assets at the same time (multiple use of same collateral), maximize utility of their portfolio as collateral when borrowing, and interact with the Serum ecosystem and DEXes directly from their pools with streamlined in-pool trading.

Oxygen Protocol is order-book based, allowing users to get a fair price for borrowing/lending. Oxygen also enables multiple uses of the same collateral and the post of all your portfolio as collateral to borrow (meaning lower portfolio liquidation risk).

To drive the platform growth, Oxygen will be seeded with the 140M registered users from Maps.me’s userbase who will generate yield from their embedded wallets, jump-starting Oxygen as one of the largest fintech applications.

Oxygen is also built on Solana blockchain, which can support over 50,000 TPS, with block times of 400ms and transaction costs of approx.  $0.00001, indicating that Oxygen has scalability as a completely on-chain P2P borrow-lending and prime brokerage protocol.

Oxygen Protocol will use 100% of net revenue for the benefit of OXY token holders. Token holders can decide on how exactly to direct the net revenue of Oxygen Protocol plus community fund in terms of whether to buy, burn, offer staking yield or anything else.

About BitMax.io

Launched in August 2018, BitMax.io is a leading digital asset trading platform with a broad range of financial products and services for both retail and institutional clients, with robust and innovative design ranging from cash to margin trading, derivatives trading, staking products, and other investment solutions.

For more information and updates, please visit:

Website: https://bitmax.io/

Twitter: https://twitter.com/BitMax_Official

Telegram: https://t.me/BitMaxioEnglishOfficial

Medium: https://medium.com/bitmax-io

About Oxygen Protocol

Oxygen Protocol is an on-chain, decentralized, non-custodial prime brokerage built on the Serum DEX and ecosystem, running on Solana, and seeded by the Maps.me 2.0’s massive userbase. 

For more information and updates, please visit:

Website: https://oxygen.trade/

Twitter: https://twitter.com/oxygen_protocol

Telegram: https://t.co/dOTnuwRzWA?amp=1

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