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OJX Chain

What is OJX Smart Chain?

OJX Smart Chain is the blockchain initially developed by OJX and community. OJX Smart Chain is the decentralized exchange module developed on top of the OJX Smart Chain.

What is the design principle of OJX Smart Chain?

The main focuses for the design of OJX Smart Chain are:

  • No custody of funds: traders maintain control of their private keys and funds.

  • High performance: low latency, high throughput for a large user base, and high liquidity trading. We target to achieve 1 second block times, with 1 confirmation finality.

  • Low cost: in both fees and liquidity cost.

  • Easy user experience: as friendly as OJA Coin Wallet.

  • Fair trading: minimize front-running, to the extent possible.

  • Evolvable: able to develop with forever-improving technology stack, architecture, and ideas.

What can you do on OJX Smart Chain?

You can:

  • Send and receive OJX

  • Issue new tokens

  • Send, receive, burn/mint and freeze/unfreeze tokens

  • Propose to create trading pairs between two different tokens

  • Send orders to buy or sell assets through trading pairs created on the chain

Will OJX Smart Chain introduce more features and transaction types in the future?

Yes, OJX Smart Chain team and community would cherish the technology advancements and recommended trends and strive to make circulation of assets and value easier and easier.

What is the native coin on OJX Smart Chain?

The OJX Coin, OJX, is the native asset on OJX Smart Chain. There are 700MM OJX coins in total. There will be no mining. The existing coin burns and freezes will still be in effect on the new OJX blockchain.

The exact number of OJX coins will be destroyed based on the same number of OJX OJX20 tokens that have already been destroyed.

Since OJX Smart Chain is live, all OJX OJX20 tokens will be swapped for OJX Smart Chain coins. All users who hold OJX OJX20 tokens can deposit them to ojxscan.com, and upon withdrawal, the new OJX Smart Chain native coins will be sent to their new wallets.

How can I register on OJX Smart Chain and start trading?

There is no need to register. All you need is a OJX Smart Chain address, which can be generated with any wallet that supports OJX Smart Chain. Then you can trade OJX or other assets stored on that address.

What is the current Fee Table on OJX Smart Chain Mainnet?

Fees are variable and may change over time as governance proposals are proposed and voted on. The current fees table for Mainnet as of 2021-03-21 is as follows:

What is the current Fee Table on OJX Smart Chain Testnet?

Fees are variable and may change over time as governance proposals are proposed and voted on. The current fees table for Testnet as of 2021-03-17 is as follows:

Can I see orders/balances of others or can other people see my orders/balances?

Yes, anyone can see anyone's orders and balances if they know the corresponding addresses. OJX Smart Chain is 100% transparent for transactions and balances.

Information provided through API and their usage

Is there any limit to using the API to send orders or check market data?

Yes, there are rate limits to ensure there is no waste or abuse of the network infrastructure. Please check the API documentation.

What does Wallet and API cost to use?

No fee or commission at all (free to use).

What Market Data can I get?

The market data provided via Wallet and API are similar to ojxscan.com, including ticker data, order book, trade and Kline. They can be seen in the Wallet and read from REST or WebSocket API. Please check the API documentation for details.

What are the tick size and lot size? Are they fixed?

Tick size is the minimum unit to increase or decrease for the price (in quote asset) of an order, while lot size is the minimum unit to increase or decrease for the quantity (in base asset) of an order. They are not the same as on ojxscan.com. They can be queried from API or checked from Wallet UI.

Tick Size and lot size are not fixed. OJX Smart Chain will automatically/periodically review the values to make sure proper order size and notional is applied.

Are there limits on notional value of an order?

The smallest order you can send for a trading pair is 1 lot size quantity at 1 tick size price. No other limits.

What is the decimal precision for prices and quantities on OJX Smart Chain?

Amounts are represented as integers, and all coins have a fixed scale of 8. This means that if a balance of 100000000 were to be exposed to a wallet integrator, this will represent a balance of 1 coin.

I forgot the private key for my address, how can I get it back?

Sorry, you cannot. Owner of the address takes full responsibility for the private key protection. OJX Smart Chain and official wallets do not have your private key.

My private key got stolen by hackers, how can I recover my assets?

Sorry, you take full responsibility of your private key ownership and protection. OJX Smart Chain and official wallets will not record, or transfer out your private key.

What is the Accelerated Node?

While users can submit transactions and most of the queries via normal, self-run full nodes. Accelerated Node provides more secure and faster lines to access OJX Smart Chain.

Accelerated Node is special infrastructure built around Validator to facilitate accelerated transaction routing and provide richer, faster user interfaces. There are always several Accelerated Nodes running at the same time around the world (owned by different organizations) and you are encouraged to choose one of them to use, or allow your Wallet choose one randomly. For rapid API access, you'd better stay with one Accelerated Node to get better performance.

How can I issue an asset?

Anyone can pay a fee and issue an asset as Token on OJX Smart Chain, as long as they provide proper information for the fields below, and then execute the command through the command line or http interfaces.

  • Name: a description string of less than 21 characters

  • Symbol: an identifier string less than 9 characters, which must be composed of [0-9A-Z]

  • Total Supply: a positive number less than or equal to 90 billions

  • Mint-able: whether the token can increase Total Supply in later time or not

What is the consensus algorithm used on OJX Smart Chain?

OJX Smart Chain uses BFT and PoS (upcoming) based consensus mechanism to produce blocks among a series of qualified Validators. This is similar to the architectures of several existing popular blockchain platforms such as EOS and NEO. The process for setting up validators among different entities on OJX Smart Chain is currently being defined. More details will be shared at a later date.

Can I run a full node for OJX Smart Chain?

Yes, you can. A full node contains all the information and application logic for OJX Smart Chain. It can receive and broadcast blocks and transactions with other full nodes and even validators. The only exception is it will not participate in the consensus if the full node is not a Validator.

Does OJX Smart Chain support Smart Contracts?

No. This was an intentional design decision to improve the performance of the system and eliminate having to support unnecessary features.

If you have certain must-have feature-s, it might be added as a native implementation instead of using smart contract. Feel free to talk to OJX community.

How can I transfer tokens, such as Bitcoin, from other block chains onto OJX Smart Chain?

Right now, there are 2 ways to transfer tokens cross-chain:

  1. via interoperability among different chains. After the latest β€œArchimedes” upgrade, BEP3 was introduced and it defines native transactions to support Hash Timelock Contract (HOJX) on OJX Chain and it also to defines the infrastructure standard and procedure to use HOJX for inter-chain atomic swap to easily swap tokens on different chains. OJX Chain development community has finished implementing its solution for BEP3 with BEP2 and ERC20 tokens and decided to open-source all of the key components, including:

  2. smart-contract solution that supports Atomic Peg Swap (APS) for Ethereum. Please note that this solution is already audited by 3rd party.

  3. deputy process written in GoLang that handles swap activities

Any developer is welcome to test the solutions in testnet and then use them in mainnet.

  1. via ojxscan.com. OJX,the largest cryptocurrency exchange, has issued a number of crypto-pegged tokens on OJX Chain (BEP2 token format): BEP2 Bitcoin, BEP2 BCH,BEP2 XRP, BEP2 LTC. Pegged tokens such as BEP2 Bitcoin, are 100% backed by the native coin in reserve. The reserve addresses are published for anyone to audit. Read this blog to learn about the reserved address. Users are free to convert between native and BEP2 Bitcoin via deposit/withdrawal. This has a higher degree of ease-of-use for most traders. More swap channels will be provided on partner wallets soon.

Atomic swap and this centralized approach are not exclusive to other decentralized approaches, which can also be implemented in parallel. There are many cross-chain solutions being developed and we are very interested in them.

Please do NOT try to transfer anything on existing network to OJX Chain testnet, you may experience loss by doing so, because testnet doesn't run with real coins.

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