We launched the Prison: lock your $OX in Prison to earn a share of the platform’s collected fees. Go to https://ox.fun/en/prison and keep reading to find out more!
The Prison Vault has a dual purpose
- Passive $OX holders can lock their $OX into the Prison Vault for between 7 and 365 days in order to earn yield from fees generated by the OX.FUN exchange. Plus users get xOX (1:1 to their locked Prison $OX) to be used as trading collateral.
- To act as a holding cell for users wanting to convert $OX v1 to $OX v2 until they have completed the requirements to unlock their $OX from Prison
Earn yield from staking $OX to the Prison Vault
The Prison Vault is an ideal product for users who want to accumulate more $OX without taking risk either trading themselves or Copy Trading others as both could potentially lead to $OX losses. 100% of fees from the exchange will be shared between stakers in the Prison Vault.
There are 4 lock periods available: 7 days, 30 days, 60 days & 365 days
The longer you lock, the higher your reward multiplier:
- 7 days = 1X Multiplier
- 30 days = 2X Multiplier
- 60 days = 5X Multiplier
- 365 days = 10X Multiplier
An example
Su, Kyle, Bruce & Sam all lock 1M $OX in the Prison Vault.
- Su locks for 7 days
- Kyle locks for 30 days
- Bruce locks for 60 days
- Sam locks for 365 days
The next day OXFUN generates 100K $OX in fees. The fees will be distributed as follows:
- Su receives 5,555 $OX
- Kyle receives 11,111 $OX
- Bruce receives 27,777 $OX
- Sam receives 55,555 $OX
Any fees you receive are compounded into your Prison Vault position daily at 00:00 UTC and your initial $OX deposit and accrued fees are automatically released at the end of your lock-up period.
xOX as collateral
When you deposit $OX to the Prison Vault you will receive $xOX 1:1 to your account as a receipt for your deposit. Whilst $xOX is not tradable, or transferable, you will be able to use $xOX as collateral to trade and complete trading missions.
Bridging $OX v1 to $OX v2
The bridge for 1:1 $OX conversion is now CLOSED. If $OX v1 holders want to convert to $OX v2 1:1 they will need to fulfill the following conditions:
- Deposit $OX v1 to OXFUN
- Purchase 3X their deposit amount using the “Buy $OX” function on platform, which allows users to purchase $OX using $USDT, $USDC or $ETH with no fees or slippage
- Lock their newly purchased $OX for 60 days in the Prison Vault
- At the end of the 60 day lock period the original deposit and the additionally purchased $OX will be released from Prison
Bridged $OX v1 tokens will be locked perpetually until the unlock requirements are fully met.
However a user will receive perpetually locked xOX and receive a share of fees from the Prison Vault at a 5X multiplier until they have fulfilled the unlock requirements.
Get Social
To learn more about OX.FUN visit our socials and website:
Discord: https://t.co/5HYzlMCvDK
Twitter: https://twitter.com/OXFUNHQ
Telegram: https://t.me/oxfun_official
Web: https://ox.fun
