Understand O3 Swap's Cross-Chain Aggregation Trading in One Article
In the context of multi-chain co-prosperity, the demand and scenarios for cross-chain transactions have begun to grow rapidly in the crypto market, triggering innovation and an explosion in cross-chain DeFi.This article is sourced from the official O3 Swap.
1. Introduction
Since the rise of the Ethereum network, which sparked various DeFi protocol innovations, the landscape of public chains does not seem to have shifted towards Ethereum's dominance alone. Subsequent public chains such as BSC, Solana, Heco, and Near have also achieved remarkable results. Against the backdrop of multi-chain prosperity, the demand and scenarios for cross-chain trading have begun to grow rapidly in the crypto market, triggering innovations and explosions in cross-chain DeFi.
O3 Swap is the first cross-chain aggregation protocol that enables the free trading of native assets between heterogeneous chains. By deploying a model of "aggregator + asset cross-chain pool" across different public chains and Layer 2 networks, it provides users with a "one-click" cross-chain asset swapping experience. Currently, it has integrated networks including Ethereum, BSC, Neo, and Heco, and is expanding to ecosystems like Solana, Polygon, and Polkadot. As of now, it has completed over 167,560 cross-chain transactions for 89,273 users.
2. Team Background
O3 Swap is a cross-chain aggregation protocol developed by the O3Labs team, dedicated to linking the liquidity of various blockchain networks and achieving the integrity of decentralized finance.
The O3Labs team was founded in Tokyo in 2017 and is one of the earliest crypto wallet development teams in the world. Its product, O3 Wallet, was the most widely used wallet for Neo overseas at that time. To date, O3 Wallet has become a mainstream crypto wallet in Japan and the European and American markets, providing digital asset management services for over 150,000 users and supporting hundreds of mainstream digital assets such as BTC, ETH, NEO, DOT, BNB, and USDT.
Faced with the parallel multi-chain state in the crypto field, which leads to fragmented protocols and chaotic information, as well as difficulties in asset interoperability across sectors, the launch of O3 Swap represents O3Labs team's further efforts to address the issue of asset fragmentation in the blockchain world.
3. Product Introduction
The main functional modules of O3 Swap consist of two parts: O3 Aggregator (trading aggregator) and O3 Hub (cross-chain trading pool). O3 Aggregators are deployed across various mainstream networks to help users find the best prices and the most efficient trading paths. O3 Hub serves as the hub for cross-chain trading, creating cross-chain asset trading pools, similar to a "cross-chain Curve," to help users achieve one-click cross-chain trading of assets across different chains. Additionally, users can add liquidity to O3 Hub to earn cross-chain trading fee rewards and O3 rewards.
The most noteworthy innovation is the design of the O3 Hub cross-chain pool, which aggregates mainstream assets from public chains such as Ethereum, BSC, Neo, Heco, and Layer 2 networks into the Cross-chain Pool through the cross-chain protocol Poly Network. This breaks the traditional cross-chain bridge's requirement for asset wrapping/pegging, which forces users to accept new mapped assets. Through the combination of O3 Aggregator + O3 Hub, users can select the native assets of the From and To chains/networks to achieve one-click cross-chain trading.
Of course, some also say it is a natural mixed-coin privacy trading pool.
4. Solving Essential Needs
If user Alice has only BNB in her BSC wallet but needs to exchange it for HUSD to mine on MDEX, she would typically have to choose the first path shown in the image below: first deposit BNB into Binance to exchange for USDT, then withdraw to Huobi, exchange for HUSD, and finally withdraw to Metamask to connect to MDEX.
However, if Alice chooses the O3 Cross-chain Route, as shown in the image below, she only needs to connect her wallet, select the From and To addresses, and she can complete the exchange with one click. The entire process is one-click operation, completely decentralized, with no KYC account requirements.
The demand scenarios like Alice's are clearly increasing with the development of the multi-chain market. Beyond the cumbersome and complex user experience of traditional paths, there is a more important reason for users: many digital currencies do not want to go through many centralized systems; privacy and security are extremely important to them. The decentralized path through O3 Swap not only meets these security and privacy needs but also makes one-click trading more convenient.
5. O3 Token Distribution & Economic Model
Token Name: O3
Total Supply: 100,000,000
Token Type: ERC-20
Token Distribution
Genesis Incentives: 5%, for early launch and incentives, including IDO, LBP, and genesis mining.
Airdrop: 5%, to reward users and community supporters.
Mining Rewards: 35%, to incentivize trading and reward liquidity providers, with a duration of 4 years.
Team Share: 10%, for team development, with a 2-year linear unlock.
Early Institutions: 15%, for early participants' rewards, with a 2-year linear unlock.
Frozen Reserve: 30%, for ecological development.
Economic Model
Ways to Obtain O3 TOKEN
Obtain O3 through community contributions or participation in early product testing.
Participate in trading mining on O3 Swap to earn O3.
Provide liquidity for the O3 cross-chain liquidity pool to earn O3.
Uses of O3 TOKEN
Participate in staking to receive a share of the profits from the O3 Swap treasury.
Provide liquidity to generate LP, used to unlock frozen O3 or for new mining.
Users participate in the governance of the O3 Swap DAO organization.
Users obtain O3 through airdrops, trading mining, and providing liquidity to the cross-chain pool, initially in an unlocked state. Users need to add a certain proportion of O3 trading pair LP to linearly unlock that portion of tokens within a certain time. The unlocked O3 can be directly used for staking to generate profits or for users to participate in DAO voting.
The transaction fees generated from trading mining will be fully used by O3 Swap to repurchase O3 in the trading market and return it to the treasury. This portion of O3 will be divided into two parts: 30% for DAO governance and 70% for rewarding users participating in O3 staking.
6. Financing Situation
Before April 15, O3 Swap completed a $2 million financing round. Participating institutions include: NGC Ventures, OKEx Blockdream Ventures, SevenX Ventures, FBG Ventures, Neo Eco Fund, BTC12 Capital, Incuba Alpha Labs, Moonwhale Ventures, Puzzle Ventures, Benmo Fund, AC Capital, CatcherVC, and many others from both domestic and international markets.
7. Dynamic Progress
04/06: O3 Swap completed support for the BSC network.
04/08: O3 Swap completed integration with Mdex.
04/12: O3 Swap reached a strategic cooperation with DODO.
04/12: O3 Swap reached a strategic cooperation with 1inch.
04/12: O3 Swap integrated the Solana network and supported its native tokens.
04/25: Launched the beta version of o3swap.com, opening for testing experience.
05/12-05/13: Launched IDO and LBP.
05/14: Launched the official version and started mining.
8. Official Channels
O3 Swap: ++https://o3swap.com/++
O3 Wallet: ++https://o3.network/++
Twitter: ++https://twitter.com/O3_Labs++
Telegram: ++https://t.me/O3LabsOfficial++
