Source: OXYUSD Chart by TradingView
Oxygen is a DeFi prime brokerage service built on Solana and powered by Serum’s on-chain infrastructure. Built to support 100s of millions of users, it serves as a permissionless, cheap, and scalable protocol that democratizes borrowing, lending, and trading with leverage and allows you to make the most of your capital.
The OXY token powers the Oxygen Protocol:
- 100% of net generated fees go to the OXY token ecosystem (buy and burns, yield, or otherwise)
- OXY is used for protocol governance
- OXY holders benefit from reduced fees
DeFi protocol Oxygen held 95% of supply on FTX
DeFi protocol Oxygen said it is shocked by the events at FTX and claimed to only have access to publicly available information about the bankrupt exchange.
CryptoSlate Wrapped Daily: SBF faces investor lawsuit in the US as Australia suspends FTX operations; LFG spent $2.8B on UST peg defense
Gemini exchange experience outage as it suspends withdrawals on Earn program, Messari estimate shows that FTX users may recover up to 50% of funds, and much more in this edition of CryptoSlate Wrapped Daily.
Op-ed: Reimagining cross-chain bridges: Let’s stop trying to be liquidity protocols
By locking liquidity to provide cross-chain routing (as almost every bridge does right now), bridges have placed themselves in a competition they’re bound to lose.
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