OMX : Zero-Slippage, 50X Leveraged Trading on Osmosis with Cross-chain Liquidity
Apr 8, 2022
What is OMX?
Founded in 2023, OMX introduces zero-slippage, 50X leveraged trading and structured products to Osmosis, providing a long-awaited boost to DeFi efforts. With a focus on leverage trading and quadratic leverage, OMX aims to transform Osmosis into a comprehensive “Universal Trading Hub,” enhancing capital efficiency and delivering seamless trading experiences for Osmo users.
To date, Osmosis has dominated the total trading volume, in the Cosmos ecosystem. Osmosis has also witnessed remarkable year-over-year (YoY) growth, with a 134.9% increase in users and a 131.7% increase in transactions. With the launch of OMX, the plan is to further enhance these metrics, particularly by increasing total trading volume while minimizing fees.
Discover the exciting features of OMX protocol for seamless and efficient trading:
Trading: Enjoy zero price impact trading, leverage up to 50x, zero spread on blue-chip assets, and a risk-free environment with no counterparty risks.
Integration: OMX seamlessly routes liquidity between margin trading, IBC-enabled DEX, and EVM-based DEX, ensuring optimal utilization of pooled assets.
Liquidity: Experience unified liquidity depths across various multi-chain networks in the Cosmos and EVM ecosystems, including support for popular wallets like Metamask.
Chains: OMX will be initially deployed on Osmosis and Polygon, with the possibility of expanding to other chains through governance decisions.
Tokenomics: Participate in OMX tokenomics, which includes income sharing for holders and stakers, allowing you to benefit from the protocol’s success.
Experience the power of OMX for advanced trading capabilities and maximize your earnings with its innovative features.
Product & Engineering Update :
OMX protocol won 3rd place in the inaugural Delphi Labs hackathon.
OMX protocol offers a self-custodial and transparent margin trading experience. Enjoy a CEX-like environment with minimal price impact, high capital efficiency, and reduced counterparty risks for larger positions.
Multi-Asset Pool: BTC/ETH/ATOM/OSMO/USDC
OLP pool in OMX is designed to provide a counterparty for traders with full collateralization using a diversified portfolio of blue-chip assets and stablecoins.
Here’s how it works:
Traders open leveraged positions, the OLP pool reserves the necessary assets and takes positions in the opposite direction against traders.
When a trader’s position is closed with a profit, they can withdraw collateral and the generated profits from the reserved assets.
In case a trader’s position incurs a loss, upon closure, the trader will cover the losses using the collateral held in the pool.
The OLP pool positions are fully collateralized and protected.
OMX protocol is designed to offer a secure and seamless trading experience:
Open Interest Caps: Enjoy the flexibility of long and short positions in each market, with predefined open interest caps. This ensures that trading activity remains within the liquidity capacity of the pooled assets.
Counterparty Risk-Free: OLP is always capable of covering traders’ profits. With the pool’s ability to pay for profits, traders are protected from counterparty risks, providing a worry-free trading environment.
The current supply cap for OMX is 1,000,000,000.
Real Profit Sharing
OMX protocol income derives from multiple sources:
third-party DEX mining rewards and liquidation rewards.
The profits will be shared between OMX holders, liquidity providers and protocol-owned liquidity.
OMX protocol is operational on testnet and the team is committed to monitoring its performance and making ongoing enhancements. Exciting initiatives like referral and mining programs are in development, so stay updated for further announcements.
If you want to explore the project further, check out the provided links for more information.