Tokenomics
The OPEN token is the backbone of the OpenWorld token economy. The mission of the OpenWorld tokenomics focuses on both short-term and long-term goals. In the short term, it aims to solve the cold-start problem by providing incentives for the first users of new products. In the long term, it seeks to create a strong bond between users and the success of OpenWorld.
Staked OPEN Mechanism
The Staked OPEN Mechanism is designed to foster a long-term connection between OPEN token holders and OpenWorld Finance. It allows holders to stake their OPEN tokens in exchange for ibOPEN tokens, which offer rewards based on the duration of the lock period and the demand for staking. Longer commitments and Lower demand for staking lead to greater benefits. This approach helps reduce the selling pressure on OPEN, enhancing its value for users, the team, and ecosystem partners. Additionally, OWF shares its fees with ibOPEN holders, with an initial 50/50 split between the OWF entity and the Staker. This split can be adjusted as the ecosystem grows, providing more incentives for community support based on the total value locked (TVL). ibOPEN is also used for OpenWorld governance, it is required for a user account to have a balance of ibOPEN.
Interest-Bearing-OPEN (ibOPEN) is a transferable NFT that represents the Time Factor and Demand Factor of a staking position. ibOPEN is created when a user stakes OPEN with a selected staking duration in weeks and a specified number of OPEN tokens. The system calculates the amount of ibOPEN the user will receive based on the published parameters. Upon confirmation, an NFT corresponding to the position is created. Unlike traditional locked token models, such as vote escrowing (vetoken), ibOPEN is transferable. Additionally, ibOPEN balances do not decay linearly until the staking period ends; instead, they remain constant until unlocked.
OPEN Token Data (As of 15 July 2024)
Total Supply: 100,000,000 OPEN
Contract address: 0x58cb98a966f62aa6f2190eb3aa03132a0c3de3d5
Float:
Arbitrum Chain: 32,990,024 OPEN
Binance Smart Chain: 7,449,710 OPEN
Treasury Holdings:
Total Holding: 67,009,976 OPEN
Reserve for Binance Smart Chain Bridging: 7,449,710 OPEN
Treasury Holdings for OWF Usage: 9,560,266 OPEN
Treasury Holdings for Tokenomics Release: 50,000,000 OPEN
Distribution
Release 15% of the Treasury Holdings for Tokenomics Release (50,000,000 OPEN) every year for the next 10 years. The percentage of the annual release is tied to the holdings volume of the Treasury, making the annual release smaller and smaller each year. This is similar to the Bitcoin Halving approach to control token inflation.
Distribution Percentage
Staking Incentives
According to tokenomics allocation, OWF will release 1,500,000 OPEN to users of investment products in the first year, equating to 28,864 OPEN per week.
Epoch System: Any users who stake in OWF products during the week (Monday 0:00 AM UTC to Sunday 11:59 PM UTC) are eligible for OPEN rewards for that epoch.
Points System:
Size Incentive: Top 10% of the largest staked capital positions get a 3x boost (1 USD = 3 Points). Next 20% get a 2x boost (1 USD = 2 Points). Remaining 70% get 1 Point per 1 USD.
Points are gathered each epoch and determine the percentage ownership of the reward pool for that week.
Additional Terms:
Point Expiration: Points do not expire.
OPEN Release: At epoch end, OPEN is transferred to an escrow contract and unlocked after 6 months.
OPEN Expiration: OPEN does not expire.
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