Solana ecosystem, SBF's new concept stock member: Oxygen (OXY), will hold an IEO in March.

Due to the high transaction fees on Ethereum, it has led to the rise of "competitive public chains": Binance has its smart contract chain BSC, allowing BNB to achieve explosive growth; DeFi prodigy Andre Cronje is also collaborating with his old partner public chain FANTOM for continuous development, causing the token FTM to soar against the trend; The ecosystem and related tokens supported by FTX and Alameda Research-backed Solana have remained independent of the recent Bitcoin pullback.

Recently, Alameda Research has brought a new member Oxygen into the Solana ecosystem, and will conduct an IEO in March.

Alameda Leads $40 Million Investment

The company named Oxygen has received a $40 million investment led by Alameda Research, with participation from MultiCoin Capital, Genesis Capital, and CMS. Its token OXY will also be available for subscription on the FTX exchange.

What is Oxygen? Main Brokerage Protocol

In the traditional financial world, the main brokerage protocol refers to various services provided by investment banks and financial institutions to hedge funds and investors, including cash management and securities lending. Oxygen believes that there are too many fees involved for investors in these processes and aims to provide a more transparent and cost-effective main brokerage service in the decentralized finance (DeFi) world.

According to the Chinese version of the whitepaper, Oxygen aims to create a lending protocol based on a fund pool financial structure.

Understanding through the official website's visual representation may be quicker: investors can deposit various digital assets through a mobile app to form a collective fund pool, enabling operations such as staking rewards, lending, trading, and synthetic asset creation to improve fund efficiency and gain better returns. Oxygen's smart contracts will be integrated with the Serum decentralized exchange on the Solana blockchain to execute related functions. It will also collaborate with Maps.me, an offline map app from SBF's concept stock, to provide various financial services to its users.

IEO More Favorable to Early FTT Investors

In light of the excitement surrounding SBF's concept stock, regardless of the topic, FTX's IEO seems quite appealing to users.

However, the eligibility criteria are set at a trading volume of $50,000 or pledging over 500 FTT tokens worth about $15,000 in the last 30 days. For retail investors who are not early FTT investors, it may require some courage to participate. FTT has seen a 211% increase in the last 30 days and a 1056.2% increase in the past year, making it relatively more accessible for early investors.

FTX IEO Still Adopts Lottery System

The Binance exchange initially used a lottery system based on the amount of platform coins held in its Launchpad. However, it has since switched to a new coin mining model where everyone has a chance, with larger holders having an advantage, based on the total amount of platform coins pledged for token distribution. This model is more beneficial for users who hold coins long-term but less friendly to small holders who may gain minimal profits.

FTX currently maintains the lottery system, setting rules based on a certain holding amount or achieving a trading volume. The advantage is that everyone still has a chance, distributing investment opportunities to those who meet the conditions, rather than favoring large holders. The downside is that not everyone will win. For exchanges, there may be instances of buying before an event and selling after.

Each model has its pros and cons, and investors can choose according to their needs, while exchanges also consider their own factors.