Conversation with Business Director for Oxygen Asia Pacific: How is the Oxygen Agreement a one-stop shop for new Defi users

On March 4, Edward, Asia Pacific Business Director for Oxygen, sat down at the Routine Blockbeats AMA to talk about how the Oxygen agreement is a one-stop shop for new Defi users. Oxygen previously closed a $40 million funding round and launched its governance token Oxy.

The following is a transcript of the AMA:    

Host: Could you first tell us a little bit about yourself and the Oxygen project?

Edward:Hi, I'm Edward and I'm responsible for business for Oxygen in the Asia Pacific region, as well as business development for both domestic and overseas. Before joining Oxygen, I worked at Hong Kong Exchanges and Clearing (HKEx).  

Oxygen Protocol is an on-chain prime broker service Protocol built on the scalable Solana blockchain and added to the rapidly growing SERUM ecosystem. In addition, the Oxygen protocol is planned to be embedded in maps.me applications and integrated with maps.me 2.0, which will make maps.me's 140 million users aware of Defi and its benefits.

The Oxygen agreement will be available to Defi users around the world and will be marketed in a number of regions around the world to increase awareness and understanding of the benefits of the Oxygen agreement.

The first phase of the Oxygen agreement will provide lending services through a "capital pool infrastructure," and in the next phase we will create a "Volatility Trading Protocol" and a "Structured Product Feature" that will allow developers to create structured products for themselves and their users. Our ultimate vision is to rebuild and invest in existing banking operations in DEFI and make them available to the general public.

For more information, please visit our official website:https://www.oxygen.org/

Host: Can you tell us a little bit about the background of Oxygen's core team? And which of the more prominent investors have invested in Oxygen?

Edward:The Oxygen protocol team is a group of people who are passionate about the future of financial infrastructure. They are made up of financial and software engineers based in London, New York, and Israel, all with decades of experience in the financial technology industry.

Alex Grebnev, co-founder of Oxygen Protocol, has over 16 years of experience in investment banking, including at Goldman Sachs and Merrill Lynch, where he served as Executive Director of Structured Products. Another co-founder, Viktor Mangazeev, is a serial entrepreneur who has served as the CTO of many large companies. Alameda Research and FTX founder and CEO Sam Bankman-Fried (SBF) served as strategic advisors for the Oxygen deal.

In addition, we have now completed the first round of strategic investment phase. Golden previously reported that an investor group led by Alameda Research has invested $40 million in Oxygen. Our other partners include: SERUM, FTX, Genesis Capital, CMS, Multicoin and a number of other top HFT firms.

Moderator: Edward mentioned a term called Prime Brokerage, can you explain to us what a Prime Brokerage is?

Edward:This is a very specific issue and what we are doing now is creating a new "prime broker business" product for Defi users. In traditional finance, where most investors do not have access to its services, the prime broker business is Oxygen's entry point.

Main broker business is the core of the financial markets business, this kind of service can connect all kinds of market participants, including hedge funds, pension funds, insurance companies, institutional investors, liquidity providers, allows the user to mortgage assets, borrowing, the lever, to improve the efficiency of the market, and more effective for asset pricing.

Typically, prime broker services are available only to large financial institutions. This reflects a certain economic reality, because the cost of risk management and capital coordination of using its services is too high, which is why the services are for large financial institutions. Oxygen breaks through this framework by offering a prime broker service to meet the needs of the Defi application as well as the general user of the service.

This is all due to the development of Defi. Defi's open, permission-free, decentralized nature has reduced the service fees of expensive prime brokers to almost zero, which is why we chose to build Oxygen on the fast, almost fee-free Solana public chain.

Host: Can you explain more about Oxygen's loan, transaction, and composite asset services, and what services are available to users on Oxygen?

Edward:As mentioned earlier, the first phase of Oxygen was a "loan agreement," and the Oxygen agreement had several key features that set it apart from the loan agreements for competing products.

First, the Oxygen agreement is based on a "pool structure" in which users can create their own pool of funds and add assets to it. The user can set their own parameters, and those assets can be lent out, and then set parameters, including maturity dates and yields, which are equivalent to limit orders (which trade only when conditions are met), or the user can trade at market prices (which are based on market interest rates) and lend the assets for a profit.

This is possible because the clearing price of Oxygen's lending process is based on the market price. The Oxygen agreement captures the price through the on-chain order book of the decentralized exchange SERUM, rather than matching lenders and debits with a preset market model, so that users can obtain reasonable borrowing prices and interest rates.

Oxygen can also repledge assets. Users can generate income in their portfolios while also borrowing other assets. In addition, when the user wants to borrow other assets, the total value of "all assets" in the account can be used as collateral, which reduces the risk of being liquidated and helps the user better manage the risk.

Oxygen also allows users to interact directly with a decentralized exchange called Serum in a pool of funds, simplifying the trading process.

Oxygen will use an on-chain risk management engine to evaluate individual user pools, so in the future it will allow users to create their own tokens, synthetic financial goods, non-linear assets, and more. It's worth noting that after the Oxygen deal launches lending, the next phase is likely to create an OTC Volatility desk, as well as structured products, so developers can tailor structured products for themselves and their users.

Host: The main focus of the Defi project right now is how to get new traffic. How does Oxygen get new traffic?

Edward:As mentioned earlier, the Oxygen agreement is built on SERUM and Solana, which enables the loan agreement to be executed in an order book manner. Therefore, Oxygen relies on SERUM's pricing data for order execution, market data, pricing, and risk management. Of course, thanks to the composability of DEFI, the various participants at SERUM can integrate and extend the capabilities of Oxygen.

As for maps.me, there are 140 million registered users worldwide, and the Oxygen agreement will import maps.me to reach a large user base. These users will generate revenue from maps. me's embedded wallet. Note that maps. me users will not be aware that the wallet they are using is a DeFi wallet, so the user experience will be very smooth and the wallet will be used just like a traditional App wallet.

The import of maps.me users will be a key factor, providing liquidity and credibility for Oxygen, which will make the Oxygen deal one of the biggest fintech apps out there.

Host: What is the role of Oxy tokens in ecology?

Edward:The Oxy token is an important driving force for the development of the Oxygen Protocol. The Oxy token can be used to govern and manage the Oxygen Protocol. 100% of the net profit of the Oxygen Protocol (minus operating expenses) should be returned to the Oxy community.

Each token represents one vote, and the holder can propose and vote on a governance plan for Oxygen, which will be binding on the agreement itself. These proposals may be about economic models, fees, the assets the platform can lend, or even risk management, clearing, data sources, or other governance changes.

Another use case is that the Oxygen agreement will charge a portion of the transaction or revenue earned from the lender, which will be managed by the Oxy token holder, who will also enjoy the benefit of a fee.

We hope to build a strong community from the benefits of the token economy model that can grow over the long term.

Host: What is the initial circulation of OXY tokens?

Edward:The first year's hard cap on revolving supply is 250 million. The team has agreed to an initial revolving supply and to provide further tokens only if and when necessary to provide liquidity and meet extraordinary demand.

More specifically, the hard cap of 250 million includes pre-sales and auctions, liquidity (AMM, DEX, CEX, etc.) as well as the Oxygen, MAPs.me and SERUM ecosystems to drive community growth and encourage application usage.

Read our white paper for more information

Host: What are the future plans for Oxygen?

Edward:In order to attract more people to develop within the SERUM ecosystem and develop a more complete ecosystem, we will continue to work with SERUM and Solana. We are currently refining incentives to attract more developers to develop on Oxygen. At the same time, we launched the Alpha UI, which allows users to create their own pools of money and invest in them. As Defi did originally, we expect the community to develop their own UI interfaces, which will eventually become the primary interface for the Oxygen protocol and allow users around the world to interact with it.

Host: Where can I participate in OXY's IEO?

Edward:The platform and time of pre-sale are as follows:

FTX: March 11, 21:00-22:00 Singapore time

BitMax: March 11, 22:00-23:00 Singapore time

Gate. IO: 22:00 Mar 11-12:00 Mar 12 Singapore Time

20:00-22:00 Singapore time on March 16

OXY online time:

FTX, BitMax, Gate. IO, SERUM: March 16, 22:00 Singapore time

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia