Common Questions

1. What is Organix?

Organix is a decentralized synthetic asset issuance and tranding protocol.

2. What is OGX?

OGX is the basic token in the Organix network protocol. OUSD can be generated by over-collateralizing OGX. OUSD is a stablecoin in the system, and the price of collateral minting is 1USD. Through OUSD, different types of synthetic assets can be traded on the synthetic asset exchange in the Organix system according to the oracle price of different assets, including but not limited to cryptocurrency, commodities, fiat money, a basket of currencies of a certain category and their corresponding Inverse assets, etc.

3. What can the Organix decentralized synthetic asset issuance and trading protocol do?

You can synthesize and trade various valuable assets and financial products through over-collateralized OGX, including but not limited to digital currencies (BTC, ETH), bulk commodities (gold, crude oil), equity tokens, funds, binary options, etc priced assets and their reverse short assets.

4. What do class O and class I assets represent

OBTC, OETH and other O-type assets represent BTC and ETH spot mapped to regular assets in the Organix system, and their prices are always consistent with BTC and ETH spot; IBTC, Class I assets such as IBTC and IETH represent the reverse assets of BTC and ETH spot mapped to the Organix system, Its price is opposite to the price trend of BTC and ETH spot prices.

5. How are OBTC and IBTC priced?

OBTC pricing is to capture the BTC spot prices of several mainstream exchanges at the same time through the oracle. The price of OBTC and the price of BTC spot are always consistent. The initial price of IBTC when Organix was launched was the same as that of OBTC, and it moved in the opposite direction with subsequent price changes. For example, the initial prices of OBTC and IBTC are both 110,000 yuan, and when OBTC rises to 120,000 yuan, the price of IBTC drops to 100,000 yuan. Conversely, when OBTC drops to 100,000 yuan, IBTC rises to 120,000 yuan. The maximum and minimum prices of inverse assets cannot exceed twice the initial price in the current system settings. Assuming that the initial price of IBTC is 110,000 yuan, that is, its maximum price cannot be higher than 220,000 yuan, If the highest price is triggered, it cannot continue to rise, its lowest price cannot be lower than 55,000 yuan, and it cannot continue to dump if the lowest price is triggered.

6. Can synthetic assets traded on Organix be traded for cash?

Synthetic assets can be traded into spot through third-party platforms (such as DFS, Defibox, Newdex, Dolphin, etc.), and then traded for cash. OTC will be opened in the later period to gradually increase the tokens that can be directly traded for cash, such as OUSD, OBTC, OETH, etc.

7. What is the handling fee for a single transaction in Organix?

A direct trading pair can be generated between any two tokens. The current handling fee is 0.3% of the single transaction amount. After the DAO operation is adopted later, the OGX holders can initiate a proposal and vote for adjustment.

8. What are the advantages of Organix compared to SNX project?

1. The user experience is smoother. Organix leverages the powerful performance of EOSIO enabled the short transaction confirmation time;

2. The threshold is lower, and users don’t need to worry about resources such as GAS, RAM, CPU, etc., and the Organix team will pay for it, allowing DeFi to be accepted by the mass

3. Organix's unique invitation mechanism can attract more users to participate in the tradings, allowing synthetic assets to release greater value.

9. How does Organix achieve no slippage and unlimited trading depth?

Unlike conventional exchanges that require buying and selling orders to trade, the transaction prices of all Organix assets are uniformly settled according to the price provided by the oracle. Without a counterparty, users can trade as many synthetic assets as they hold at once. In theory, it can be traded in an unlimited amount without slippage.

Example: A user holds 1 million OUSD, and when he needs to trade it into OBTC, he can trade all 1 million OUSD into the corresponding amount of OBTC at the price provided by the system, without the need for a real seller to provide the same amount of OBTC for the transaction.

10. What is the automatic settlement mechanism of Organix like?

Organix’s oracle comprehensively refers to the average price of multiple exchanges at multiple time, while embedding the uncertainty of future prices into the settlement mechanism. There needs to be an interval of 1-2 minutes between buying and selling of the same token When the next transaction occurs in the same token, the system will automatically settle the previous transaction by selecting the price corresponding to the oracle according to the transaction time. There will be a refund for any overpayment or a supplemental payment for any deficiency. That is, the system may refund the over-deducted part of the last transaction, or make up the deducted part of the last transaction that was less deducted. Everything is subject to the data on the chain, which is open and transparent.

Example: When a user buys OETH with OUSD when 1ETH=$600, the system will generate a transaction to be settled for this token (OETH) based on the price of the oracle machine in the next 1-2 minutes, and the price to be settled is 1ETH= $ X. A few days later, when 1ETH=$ 650, the user sold the OETH he owned, the system automatically settled the price: 1ETH=650-(X-600) U.S. dollars, if X is greater than 600, It means that the user's last purchase was cheap，the system will make up the difference-- $(X-600) that was less deducted in the last transaction;If X is less than 600, it means that the user overpaid last time, and the system will refund the price difference deducted in the last transaction.

11. What is the manual settlement mechanism of Organix like?

Because the automatic settlement trigger time is the next transaction of the token, if the user only trades once (but not sold after buying) or the next transaction is in another token, the account will appear "pending transaction settlement" ,at this time, the synthetic asset balance displayed on the account includes the amount to be settled, which may result in unable to transfer the full amount.

In order to facilitate users to manage synthetic assets, Organix has launched a manual settlement function. Users can check whether there are "transactions to be settled" in the "Me" section. If so, manually click Settlement to process the "transactions to be settled" in a timely manner to ensure that the synthetic asset balance displayed on the account is the maximum transferable balance of the account.

12. Will the oracle go down?

The probability is very small. Even if there is a problem with the oracle, it will not affect the onchain price. If the asset price is not updated for a long time, the system will be locked and cannot be traded until the oracle price is restored.

13. If the staking rate is lower than 200%, the position will be liquidated, so how to prevent it?

When the staking rate is lower than 200%, the position will not be liquidated immediately but will be marked as pending liquidation. At the same time, there will be a buffer period, currently 48 hours. If the staking rate has not recovered after the buffer period, it can be liquided by others. Pay attention to the staking rate when the price fluctuates greatly to avoid being liquidated.

14. What background or security features does Organix have to let me trust it?

Organix was audited by the top blockchain audit company--Peckshield, implemented multi-signature by the BPs, and implemented strict risk control to ensure safety.

15. Can I check my synthetic asset tokens in the wallet?

Yes, the synthetic assets of the Organix ecosystem are tokens on EOSIO, which can be used for transfers and other operations in the wallet.

16. How to make synthetic assets have better liquidity?

Organix has cooperated with other third-party DeFi protocols and provided market-making incentives for multiple trading pairs (such as OUSD/USDT, EOS/OUSD, pBTC/OBTC, pETH/OETH, etc.).

17. Who decides what Organix’s synthetic assets to launch ?

Organix is a decentralized synthetic asset protocol. At present, the team decides the specific asset types to be launched. DAO will be adopted in the later stage. The community will vote to determine which synthetic assets to launch, including gold, oil, and equity tokens.

18. How to solve the resource problem of Organix on EOS?

The project party will provide free resource payment services to provide users with a smooth using experience.

19. Will Organix add token swap functions such as DFS?

The Organix system has integrated with platforms such as DFS, Defibox, and Dolphin, bringing a wealth of synthetic assets to all platforms. Users can directly swap tokens through the above platforms, while enjoying an experience of unlimited depth and zero slippage.

20. Can you summarize how to use Organix in one sentence?

Collateralize OGX to generate OUSD, use OUSD to trade everything.

21. Why does it need 800% target collateral ratio?

This is to ensure that the price of synthetic assets remains stable even when the price of OGX fluctuates greatly in the early stage, and OGX holders can vote to adjust the target collateral ratio in the later stage.

22. Why is there a demand for synthetic assets?

Because the current DeFi assets are not enough and the prices of most of the assets are not stable enough, and the types of synthetic assets are abundant, including but not limited to cryptocurrencies, commodities, fiat money, a basket of currencies in a certain category and their corresponding inverse assets which can meet the diversified needs of investors and realize their desire to invest globally without even leaving home.

23. Can the new added token rewards in Organix continue to collateralize synthetic assets?

The new added token rewards in Organix need to be locked in the escrow pool for one year, but during this period, synthetic assets can be minted, and the profitable part can be transferred to a system other than Organix.

24. How to check if you have made profit?

Users can check the status of profit and loss on the "My" page, profit and loss = my synthetic assets-my debts, but considering that synthetic assets can be transferred, the profit and loss data displayed on the page is for reference only.

25. When synthetic assets can be traded on other DEX, will it affect Organix transaction fees?

Using spot and synthetic assets to trade on other DEXs, although it will not generate handling fee for the Organix system, but it increases the way for new users to obtain synthetic assets, which is a good way to attract new users. Secondly, the Organix native exchange has been integrated into other third-party DEX (such as DFS, Defibox, Newdex, Dolphin, etc.), and users can directly trade two synthetic asset varieties on the third-party platform. And 90% of the transaction fee will be returned to the Organix system for OGX collateral users to distribute, and the other 10% will be a recommendation reward from the third-party platform.

26. Could synthetic assets be swapped for OGX through platforms such as DFS, and then there is no need to redeem them?

Converting synthetic assets into OGX through other channels will not eliminate your debt, because it was overcollateralized at the beginning, and your synthetic assets can only be exchanged for a small amount of OGX in other DEXs.

27. How to increase the collateral ratio when the it is less than 800%?

There are two methods: 1. Burn a part of OUSD to make the collateral ratio reach the standard. If all OUSD is burnt but still less than 800%, you can buy OUSD from third-party platforms (such as DFS, Defibox, Newdex, Dolphin, etc.), and then continue burn them; 2. Purchase OGX on a third-party platform to increase the collateral ratio.

28. I have burnt all the synthetic assets, but I still haven't paid off the debt. Will it have any impact if I continue to owe it? What should I do?

In theory, there is no substantive impact if you have not paid off the debt, but repaying the OUSD to the system can redeem 8 times the value of OGX. There are several methods: 1. Collateralize OGX to mint OUSD, use the OUSD rewarded by the commission to repay the debt; 2. Collateralize OGX to mint OUSD, and then participate in the transaction of synthetic assets, earn OUSD to repay the debt; 3. Go to a third-party platform to buy OUSD debt and repay the debt.

29. Could OUSD bought on a third-party platform be burnt in the Organix system in exchange for 8 times the value of OGX?

No, destroying OUSD can only redeem the originally mortgaged OGX. After the amount of redeemed OGX exceeds the mortgage amount, it cannot continue to be destroyed, let alone exchange for 8 times the value of OGX.

30. Why there needs 2-3 mins interval when trade on Organix?

The interval is only required when buying and selling the same currency. For example, after buying OBTC with OUSD, the interval is only required when selling OBTC. Continue buying OBTC or buying and selling other tokens will not be affected.

31. If we enter the bull market and everyone buys O synthetic assets, so no one will lose money?

If everyone buys the same asset, no one will lose money whether it is an O asset or an I asset.

32. How many rewards are there for collateralizing OGX？

Collateralize OGX to mint OUSD and generate debt at the same time. According to the debt, two rewards can be obtained every week, namely OGX new token reward and transaction handling fee reward. The token of the former is OGX and the latter is OUSD.

33. When does the reward period for collateralizing OGX start? When will the two rewards be displayed?

Rewards are calculated and distributed on a weekly basis. The first week of the system mainnet is from 15:12:56 on November 25, 2020 to 15:12:56 on December 2, 2020, and every 7 days thereafter is a cycle. The new token rewards will be updated at around 0:00 at the beginning of each cycle, and the fee rewards will be updated at around 15:00 at the beginning of each cycle.

34. New token rewards and commission rewards are determined by what factors of debt?

According to the ratio of the user’s debt to the system’s total debt, the bigger the debt ratio is, the more rewards you get. After the reward is determined, the user can claim it at any time in the next week, provided that the target collateral ratio is met 800% at the moment of claiming, If you haven't received it within a week, the reward will be recycled by the system and placed in the reward pool of the next week.

35. What factors are related to the amount of overall inflated OGX?

The specific rules of OGX inflation are as follows:

In the first 40 weeks, the weekly fixed inflation is 1,442,307.6923 OGX

From the 41st week to the 234th week, the weekly inflation volume decreased by 1.25% in turn

After 235 weeks, the weekly inflation rate will be 0.048077% (2.5% / 52) per week.

36. I have assets such as BTC or ETH, how can I participate in Organix?

At present, you need to swap to OGX before participating; in the later stage, you can directly over-collateralize to generate OUSD to participate in Organix.

37. Are there any fees for minting and burning OUSD?

There are no handling fees for minting and burning OUSD, only transactions have handling fees.

38. Are there any lending platforms that provide financial management services for synthetic assets such as OGX and OUSD?

At present, the third-party platform PIZZA can provide lending services for synthetic assets such as OGX and OUSD. PIZZA supports deposit and withdrawal at any time, unless the deposit pool is lent out. If there is a total of 100 OGX in the deposit pool and A has 70 OGX deposited, then after B lends 40 OGX, A can withdraw up to 100 -40 = 60 OGX. After withdrawal, the total value of the deposit pool is 40 OGX (borrowed by B), and the total value that can be lent or withdrawn is 0 OGX. A remaining deposit of 10 OGX.