OccamX aims to become the leading DEX for Cardano Native Tokens by providing superior trade execution and a list of financial services. While having key crypto assets available on the platform, the goal of OccamX is to become the principal trading platform for decentralized spot and derivative trading. The OccamX DEX is designed to be an integrated system, larger, more efficient, more liquid and fairer than its predecessors. The DEX will be powered by a more holistic governance model. The aforementioned holistic and elaborate governance layer will increase the amount of ‘good’ liquidity flowing towards the protocol.
The decentralized exchange is powered by the OCX token. OCX tokens enable users to participate in the governance of OccamX. Participating allows users to vote on DEX system parameters, project listings, and upcoming DEX improvement proposals. The OCX token also plays a key role in liquidity provision. OccamX utilizes some well known concepts such as AMM algorithms for market making—however it uses some unique technological solutions.
One of these technological solutions is the concept of the multi asset pool named ‘Metapools’ which enable trading an asset against a subset or all of the other assets in the so-called Metapool. These Metapools will also enable one sided liquidity provision. With Metapools—the exchange will offer liquidity providers to retain the desired risk profile and traders—with a much more powerful and efficient mechanism for trading. Metapools essentially solves the underutilization of collateral and a need for overcollateralization in trustless lending protocols. It also solves the excessive market risk for liquidity providers (LPs) in automated market maker (AMM)-based decentralised exchange protocols.
The OccamX team has also innovated further to provide traders with even more capabilities. One of these innovations are Index pools that provide index tokens in return for provision of liquidity of all the assets represented and backed by the index token. The key idea behind OccamX Index Pools is to utilize otherwise idle liquidity tokens that are ‘pegged’ to the value of the underlying liquidity sitting in liquidity pools.
OccamX is essentially the fusion of these, and many other, DeFi mechanisms which form a single decentralized meta-trading platform. As such, OccamX will carry DeFi capital efficiency to a new level. Every Lovelace or Satoshi of liquidity supplied—will be able to earn double for the market maker.