Starting from November 15th, ONUS officially adds Orchid Token (OXT) on ONUS application. Soon after OXT is listed, users can perform the following features with OXT:
- Off-chain transactions: Send and receive OXT with other users in ONUS network.
- Exchange: Swap from VNDC or USDT to OXT and vice versa.
Orchid is a decentralized platform running on the Ethereum network that provides a Virtual Private Network (VPN) service. Orchid is designed to be a decentralized marketplace for individuals who need bandwidth and providers willing to sell it, bringing the two groups together.
There are two primary parties taking part in Orchid. The first are bandwidth users running the Orchid app and wanting to use its decentralized VPN service. The second are bandwidth sellers, which are nodes in the Orchid network who exchange bandwidth for OXT tokens. Once two users agree to exchange bandwidth for Orchid (OXT), the peer-to-peer connection gets encrypted and routed through the internet servers of the seller. This allows users to access the Internet in the most secure and anonymous way while preventing the VPN provider from collecting user information.
What is OXT token?
Orchid Token (OXT) is a utility token of the Orchid ecosystem, built on Ethereum with the ERC20 standard and can be used for the following purposes:
- Staking rewards to the nodes that maintain the network.
- Transaction fees on the Orchid network.
- Payments for VPN services on the Orchid Market.
- Name: Orchid Token
- Symbol: OXT
- Platform: Ethereum
- Standard: ERC20
- Type: Utility
- Smart Contract Address: 0x4575f41308ec1483f3d399aa9a2826d74da13deb