OIKOS: AN ADVANTAGEOUS PLATFORM FOR CRYPTO USERS
This platform issues the OKS token that is shared among users after purchasing it. The token is however used for payments from users wallet and this same wallet makes the balance visible to the user. The token is important to purchase Synths, BTC, ETH and other types of cryptocurrencies.
THE ADVANTAGES OF USING OIKOS EXCHANGE
This platform is preferred to centralized exchanged because it doesn't use order book for the transactions but rather uses smart contract, this is what brings about the peer to contract transaction which is not present in many exchanges existing.
THE ADVANTAGE OF OKS VALUE INCREASE FOR USERS
While staking the OKS token in the platform as collateral for the synths, take for instance the sUSD, the increase in the value of the OKS in the platform will go in favour of those who have staked the OKS token as collateral because they will have whatever increase in the token value as balance in their wallet and also added to the amount staked or locked as the collateral. Then they can decide to stake even more to get more synths or not.
HOW SYNTHS ARE MINTED
Staking OKS as an holder of OKS token will help mint sUSD and the process will involve the locking of the token as the collateral in the process. Minting the sUSD assets involve the following process in the OIKOS network;
The platform first ensures the possibility of staking the Synths with the OKS token balance of the individual about to mint the assets and confirms that the collateralization ratio is up to what is acceptable by the platform which is 800% and afterwards makes it a viable operation.
Secondly, the platform, having a debt register ensures that the users debt is added to the register. This register will contain the minted amount in sUSD which is stored for the user.
Finally, the smart contract of this network makes sure the debt is assigned to the staker and the amount minted issued in sUSD as the new amount for the staker. This is important as it adds to the total supply of the funds in the users wallet where he can use the fund. Exchanging the Synths in Oikos is an operation that extract a token fee of 0.3% as deducted by the contract to be sent to the fee pool where stakers can claim the fees and the reward when staking is done. The process is known as the synth exchange rewards, the process makes stakers get extra OKS token as a reward for staking. Stakers can therefore claim their fees by making the request and then waiting for the smart contract to process the payment.
CONCLUSION
This platform has made the provision for investor to amass wealth in the fastest possible way through staking OKS. However, if there is need to exit the system, the user will have to pay back the debt and unlock the staked OKS token to end the process. It is as simple and straight forward like that but there shouldn't be a need for that since everyone would love to enjoy the rewards of staking and minting Synths.
USEFUL LINKS
Github: https://github.com/orgs/oikos-cash/
Medium: https://medium.com/@oikoscash
Telegram: https://t.me/oikoscash
Twitter: https://twitter.com/oikos_cash
Facebook: https://www.facebook.com/Oikoscash-102203241479884/
AUTHOR'S DETAILS
Bitcointalk Username: Nekkyush
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2661429