CHARM is the OmniDex utility token that is used across all aspects of the OmniDex protocol. As well as CHARM the protocol also uses two other tokens:

  • KARMA: is an interest bearing derivative of CHARM that rewards long term investors by paying compound interest on their CHARM holdings. KARMA makes use of a liquid staking functionality and is a fully tradable ERC20 token. More information on KARMA can be found here

  • Escrowed CHARM (esCHARM): is the time vesting reward token used by the OmniDex protocol. Escrowed CHARM has an equivalent value to the standard CHARM token however it can only be converted to CHARM after a time lock has elapsed. More information on esCHARM can be found here

As full derivatives of the CHARM token, both KARMA and esCHARM draw on emissions from the CHARM token which is the single source of emissions within the protocol. This means that whenever any of the derivative tokens are created then CHARM is either locked in a contract or burned.

OmniDex Token Strategy

Omnidex is committed to building long-term value for the CHARM token through innovation and the addition of new products and services. Each complementary layer that is added to the protocol helps to draw in new investment, increases the TVL and drives additional fee revenue for token holders. This ensures that OmniDex can reduce the emissions of CHARM whilst also providing sustainable rewards for CHARM holders.

Since the founding of OmniDex in January 2022 the team has built the following complementary DeFi services:

  • Jan 22 - OmniDex: Classic AMM Exchange

  • March 22 - KARMA: Interest bearing rewards

  • April 22 - OmniLend: Decentralised, non-custodial lending

  • Dec 22 - OmniDexBP: Democratizing the distribution of rewards from block production

  • Feb 23 - OmniDex Portfolio: one-stop portal for managing OmniDex assets

  • May 23 - OmniTrade Leveraged DeFi trading and zero slippage swaps

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