Hi guys and welcome to another lovely day, the clouds are looking evergreen but too bad the same can't be said about the crypto space as it is painted with red and FUD is gradually creeping and taking over but alas, after a dip comes the rise, so all hope isn't lost as the light at the end of the tunnel is looking ever bright and green.
Over the past couple of weeks, the talk has been all about Defi, for those not familiar with the term Defi it is short for Decentralized finance which takes the rural centralize financial system and replace it with smart contracts capable of executing themselves according to the desired input and while this is carried out, it is done transparently giving all parties involve a clear view of what is going on.
It is more referred to as a trend now.
After weeks of dominating the crypto space, the Ethereum network soon started experiencing a congested state as users try to perform several transactions daily thereby leading to a high cost in gas fees and also slower network speed, with some users complaining of not receiving deposits from hours after initiating transactions.
Defi brought a better view and more use case to the blockchain but at a cost.
With all this into introduction, Organix hopes to create something far better while taking full advantage of the EOS network with lightning transaction speed and close to zero transaction cost.
Users won't be afraid of taking loans or performing transactions with the fear of meeting 3x the initial gas fee paid when creating such transactions.
Why EOS?
Many today relate bitcoin as first movers advantage, ETH and others as well, rather than newer blockchain that offers far better use-case and faster network speed but still unable to compare with this low cap limited supply cryptocurrency, probably due to first movers advantage, but this might change in coming years.
No doubt that each Blockchain brings its own use-case, something similar to pre-existing one and also something different, it can be security-wise, faster network speed or simply privacy. The list goes on.
The EOS network is considered a 3rd gen Blockchain that brought about faster network speed, more transactions per second, and even staking with users earning on a daily, weekly, to monthly basis but still quite undervalued.
Organix plans on using this system to create a self-sustaining market on the Defi while giving users the option to perform transactions at a near to zero transaction fee.
What is OGX?
Built on the EOS network, Organix has its own native token called OGX which will be used when it comes to interacting with the Organix platform, as collateral, used for staking in other to mint synthetic, and the list goes on continuously.
Basically, OGX is the backbone of the Organix network for any and all activities to take place.
Stake OGX and mint OUSD a token paired 1:1 to USD at all times and the amount a user is able to mint at all times depends solely on the amount of OGX held and locked up, by minting OUSD, the user automatically becomes and a debtor and this is removed when the minted token is burned or paid back.
What TokenPocket offers to the Organix platform
To start this, we first need to understand what TokenPocket is all about and also why TokenPocket?
TokenPocket is a decentralized multi-chain cryptocurrency wallet that allows users to easily manage their crypto assets on the go, while it acts as a cryptocurrency decentralized wallet, users are also able to create their desired account such as EOS, BOS, IOST, and many more directly from the TokenPocket app.
With the ever-growing and rapid development surrounding the crypto space and also regards to decentralized applications such as Organix, TokenPocket supports a direct relationship between such DApps and their Blockchain and for the case of Organix, it means Organix and the EOS blockchain.
EOS Account holders will be able to interact with the Organix platform directly from their mobile devices, stake OGX, and even mint the synthetic without looking for lengthy and boring processes.
At the moment, TokenPocket provides support for the OGX token and users can already transfer this token between EOS accounts or trade on Newdex and other supported DEX's
The applications of TokenPocket to the Organix is simply limited by your own imaginations.
Influence on Organix when launching
Looking back say 2 months or even more, ETH was observed to be at one of its lowest prices since the bull run which happened 2yrs back and all hope seemed lost until the introduction of Defi.
Gradually Defi started creating some form of waves and impact to the ETH Blockchain, although minor but it was something which later grew into a larger network with the number of users growing as each day passes.
This all went on when after the Ethereum network gas fee hiked 2x and more, the numbers were not still affected, now let's picture something similar on the EOS blockchain that offers almost zero fees when performing transactions, greater speed, and more.
Organix hopes to open a way into this dreamed world and giving back Defi in a way like you ever never seen or experienced and I most say it's definitely a dream I want to see become a reality and you might wonder the possible impact this might have on the EOS blockchain?
While different Defi comes with its own token, somehow it still manages to pull the price of ETH far up from what we all expected and the likely situation here might be EOS seeing a new ATH.
These are all theory and speculation and users are always advised to do their own research before investing in any platform, be it digital or offline.
Organix Tokenomic
With a strong partnership with multiple exchanges both DEX and CEX, Organix hopes to create a simple bridge with synthetic minting that allows users to take control of their assets by simply collateralizing the native token OGX.
Token staked will allow users to earn rewards which includes inflationary rewards and also exchange fee rewards.
So far the project has followed its road map from a successful presale to an upcoming Testnet which will be launched come September and much more event afterward.
Organix Deb calculation
So the below is more like a copy and paste from the Organix whitepaper and users are free to look more into it there.
Basically, when you mint a synthetic you go into debt and this is removed when you pay back or simply burn the token and to mint a synthetic, a user needs to hold a certain amount of OGX locked within their account and withdrawal is after 3 days.
Taking the below case into consideration but again, you can read the whitepaper for more understanding on how the debt calculation works
Case #1: Both Alice and Bob bought OBTC, when OBTC halves in price, the total value in the system halves, and the debt in the system would halve too, so each of the user's debt halves. Their debt changes from 100 OUSD to 50 OUSD, the synthetic assets value at 50 OUSD too. They can get back their staked OGX after pay back the debt. Although the price of OBTC drops, but none of them lose.
Minters and non-debtors
Just as Organix is a platform to mint synthetic with the help of staking OGX, it also comes with other features that are not limited to minting alone.
Users will be able to take loans or swap assets for one to another without incurring debt from the platform.
Debt is related when a user decides to mint synthetic and this requires such user to have OGX locked which also creates other benefits as described earlier.
All said users are asked to do their own research before investing in any digital or offline platform.
Until some other time stay safe.
Platform Informations
