- Oraichain officially launched its decentralized exchange called OraiDEX.
- The DEX will be featuring Meta-Staking.
- Oraichain also introduced a new utility token called ORAIX.
Oraichain, an AI-powered oracle and blockchain ecosystem, has officially launched OraiDEX. It is a decentralized exchange that will pave the way for secure and seamless transactions of ORAI tokens, as well as those built on Cosmos and other blockchains.
The platform has announced this news over a series of tweets where they have also published a comprehensive video tutorial on how to use the decentralized exchange.
Today, Oraichain is creating an AI Layer 1 for Data Economy and Oracle services that come with greater decentralization, high throughput, and support for Cosmwasm and EVM-based smart contracts.
That said, the launch of OraiDEX is poised to provide more liquidity to Oraichain by allowing the community to reap the benefits of staking and airdrops. In detail, OraiDEX is a CosmWasm-based DEX that features multi-chain interoperability with vast liquidity and optimal speed for users.
With the introduction of OraiDEX, Oraichain will launch a new CW20-compatible governance and utility token called ORAIX through a fair listing on OraiDEX.
Moreover, ORAIX is a utility token that can be used to pay fees for pool creation and meta-staking on OraiDEX. In addition, it can also be used to settle OraiBridge and NFT Bridge fees.
What’s more, ORAIX holders can use the tokens to purchase airdrop NFT tickets for all the freshly-listed projects built on OraiDEX. The token’s listing price will be voted on by ORAI holders in mid-April while its total supply will be capped at 1,000,000,000.
OraiDEX also boasts its meta-staking program for ORAI and ORAIX token holders who delegate their ORAI tokens on the Mainnet, and then stake ORAIX on OraiDEX. Delegators on the Oraichain Mainnet are allowed to stake single CW20 assets, along with earning rewards through the liquidity mining program. This means delegators can earn APR via the liquidity mining rewards and the Mainnet.
In other news, Oraichain also announced the launch of its ORAIX Fairdrop Program which is open to ORAI, OSMO, ATOM, LUNA, AIRI, JUNO, and KWT token holders. In this event, delegators will be incentivized to secure the Oraichain Meinnet.