Understanding OXD

OXD token, and how it fits in the 0xDAO platform

OXD is the native platform token for 0xDAO.

  • OXD is rewarded to SOLID stakers and Solidly liquidity pools pro-rata to SOLID generated by the platform.
    • If you're in a high SOLID rewards liquidity pool you will receive more OXD for your efforts.
    • SOLID stakers receive OXD proportional to the amount of oxSOLID they have locked.
  • OXD can be staked on 0xDAO to earn a share of Solidly LP's SOLID earnings.
  • Staked OXD will receive its portion of the fees as oxSOLID (tokenized veSOLID). This is to keep SOLID in the system building boost, but users can trade out their oxSOLID through the oxSOLID/SOLID liquidity pool.
  • 0xDAO SOLID fees that would be returned to OXD stakers are locked in veSOLID, and tokenized as oxSOLID and given to the OXD stakers.
  • OXD is used for voting on how 0xDAO allocates it's veSOLID towards Solidly gauge weight votes. Users must vote-lock their OXD tokens (vlOXD) in order to participate. Full details on the "Voting and Gauge Weights" page.

OXD Liquidity Pools

  • Rather than vote locking OXD, users can also choose to contribute to the Solidly liquidity pool OXD/WFTM.
  • Users can then stake their OXD/WFTM LP token on 0xDAO to receive a 0-5% fee on SOLID earned by other LP positions for providing liquidity to others to enter and exit 0xDAO's ecosystem via the OXD token.
    • As protocol evolves, governance can vote to reduce or eliminate the additional OXD/WFTM LP rewards.