Ocelex introduces Vote Delegation as a streamlined way for veOCX holders to participate in governance and emissions allocation without the need for hands-on management. By leveraging Vote Managers, users can sit back and allow professionals to handle their voting power while still reaping the full rewards. Whether you’re new to ve(3,3) ecosystems or a seasoned DeFi veteran, Vote Delegation offers simplicity, efficiency, and optimized results.

What Is Vote Delegation?
Vote Delegation allows veOCX holders to assign their voting power to a Vote Manager who will handle voting on their behalf. This process is entirely optional but offers a convenient solution for those looking to maximize their rewards without actively managing their votes.

Why Use Vote Delegation?

1. Ease of Use
   Managing your veOCX voting power can involve analyzing multiple gauges, calculating APRs, and monitoring performance weekly. For many, this can be time-consuming. By delegating to a Vote Manager, you can save time and let experts handle the details.

2. Diverse Strategies
   Each vote manager employs distinct strategies—some prioritize directing emissions to their own pools while offering attractive rewards to their delegates. Their ultimate goal is to attract more delegated votes and strengthen their influence. To achieve this, they must strike a careful balance between emissions allocation and ensuring competitive vote returns for veOCX holders.

3. Passive Income
   Once delegated, you’ll automatically earn rewards from the gauges selected by your Vote Manager. This includes:

   • Trading fees from the chosen pools.
   • External incentives (Bribes) deposited by pool creators.
   • Weekly veOCX rebases, adding to your locked voting power over time.

4. No Additional Work
   Delegating your votes means you won’t need to worry about missing voting deadlines or monitoring pool performance—Vote Managers handle everything for you.

How Does It Work?

1. Delegate Your veOCX Voting Power
   Head to the Ocelex app, select your Vote Manager of choice, and delegate your veOCX. This process is straightforward and can be adjusted or reversed at any time.

2. Vote Manager Executes Votes
   Your chosen Vote Manager analyzes gauge performance and casts votes on your behalf, focusing on pools that maximize rewards.

3. Earn Rewards Automatically
   As gauges generate trading fees and receive external incentives, you’ll earn a share of the rewards based on your delegated voting power. Rewards are distributed directly to your wallet.

Note. Due to our delegation mechanics, there is a one-epoch delay for your actions to come into effect.

Choosing the Right Vote Manager

Ocelex partners with trusted and experienced Vote Managers, ensuring that your voting power is in safe hands. Each Vote Manager may have their own strategies, so you can select one that aligns with your goals—whether it’s maximizing bribes, prioritizing specific pools, or targeting long-term liquidity incentives.

Retain Full Control

While Vote Delegation provides a hands-off experience, it doesn’t mean you’re locked in. You can:

• Switch Vote Managers at any time.
• Undelegate and take back control of your veOCX votes.
• Manually vote if you prefer a more active role. Note that these changes will take effect in the following epoch.

A Smarter Way to Participate in Governance

Vote Delegation represents the perfect blend of simplicity and strategy, allowing veOCX holders to maximize rewards while minimizing effort. With Ocelex’s Vote Managers, you don’t need to be a DeFi expert to enjoy the full benefits of the ve(3,3) model—just delegate and earn.

Stay Up-to-date and Join our Community:

• Website: ocelex.fi

• Dapp: pre.ocelex.fi

• Twitter: https://twitter.com/OcelexFi

• Discord: https://discord.com/invite/rTkZNbNggh

Short on time? Scroll down to the TL;DR for a quick summary.

What is a Dutch auction?

Unlike traditional auctions, where prices start low and increase, a Dutch auction begins with a higher token price that decreases as time passes. This approach allows the token's price to adjust naturally based on demand, preventing bots from securing tokens at an unfairly low price.

Buyers watch the price and decide when to purchase. A buyer who thinks the price will continue to drop might wait, but there’s a risk that another buyer will buy first and grab all the remaining tokens, ending the auction.

Do Early Buyers Pay More?

No, early buyers won’t pay more. In a Dutch auction, when you commit funds at a specific price, you're effectively setting the maximum price you're willing to pay for tokens—similar to placing a "limit order." Since the final price applies to everyone, committing early doesn’t mean you’ll pay the initial price, it just ensures you’re in the auction early enough to secure tokens. If you buy early and the price drops further before selling out, the number of tokens you’ll receive is adjusted so that the effective price you pay matches the final price.

Here’s a simple example of a Dutch auction:

Imagine a new token is being sold through a Dutch auction, with an initial price of $10 per token. The price decreases by $1 every 10 minutes until the tokens sell out or the price reaches a minimum of $3 per token.

Buyers have to decide when to purchase, knowing that if they wait, they might pay less — but they also risk the tokens selling out if others buy sooner.

Let’s say Buyer A purchases at $8, Buyer B at $5, and Buyer C purchases all remaining tokens when the price reaches $4. The auction stops since the tokens are sold out; the final token price is $4.

Since the final price is $4, the number of tokens of those who bought at higher prices will be adjusted to match this final price.

Let’s break it down:

Buyer A commits $2,000 when the price was $8.00 per token.

• Initially, Buyer A would have expected 250 tokens ($2,000 / $8.00).

• However, with the final price of $4.00, Buyer A actually receives 500 tokens ($2,000 / $4.00).

This way, fairness is ensured —everyone pays the same final price and gets an adjusted number of tokens based on their initial allocation.

Why Use a Dutch Auction?

• Fair Market Price Discovery: The auction format allows the token to find a price based on real demand, reducing the risk of speculative price inflation. This more organic price discovery can help the token establish a stable and fair starting value.

• Reduced Pump-and-Dump Risk: Since everyone pays the final price, there’s less incentive for quick flips that can lead to sharp price drops post-sale. This helps foster a healthier and more stable market by reducing volatility right after the sale.

• Discourages Bots and Manipulative Buying: The decreasing price format discourages bots from exploiting the sale, helping to avoid sudden sell-offs and supporting post-sale stability.

TL;DR:

• The auction starts at a high price, which gradually decreases over time until all tokens are sold or the sale period ends.

• Regardless of when you buy, everyone pays the same final price per token and receives tokens based on this final amount.

• Waiting too long can mean missing out entirely if tokens sell out before the auction ends. Early participation helps secure tokens even if prices continue to drop later on.

__________

Stay Up-to-date and Join our Community:

• Website: ocelex.fi

• Dapp: pre.ocelex.fi

• Twitter: https://twitter.com/OcelexFi

• Discord: https://discord.com/invite/rTkZNbNggh

How will it work?

Ocelex’s public sale will be held in a Dutch auction format for 60 hours, starting on Monday, December 9th, 2024 at 10 UTC. The auction will start with an initial token price of $0.3 and gradually decrease until it ends or sold out.

What is a Dutch auction?

Unlike traditional IDOs, a Dutch auction starts with a high price that decreases over time, allowing the token's value to adjust based on demand. Buyers must decide when to purchase, balancing the possibility of a lower price later against the risk of tokens selling out before they act.

Regardless of when the tokens are purchased, all participants pay the same final price per token. This way, fairness is ensured —everyone pays the same final price and gets an adjusted number of tokens based on their initial allocation.

Allocation and Distribution

Ocelex strategically allocated 2,000,000 (2% of the initial supply) $OCX tokens for its public sale.

Unlike launchpad Ocelex public sale will not release the tokens by monthly distributions. Instead, it will allow participants to claim their full allocation at launch with two flexible claiming options:

1. Balanced 25/25/25/25 split format: Participants can claim their full allocation split into:

   1. 25% liquid $OCX tokens

   2. 25% locked in veOCX (6-month duration)

   3. 25% locked in veOCX (12-month duration)

   4. 25% locked in veOCX (24-month duration)

2. Max-lock with a bonus: Alternatively, participants can choose to max-lock their entire allocation as veOCX and receive a 10% bonus on their tokens.

This approach ensures flexibility, allowing participants to select the option that best aligns with their preferences and goals, and provides access to veOCX’s voting power for weekly gauges, along with a share of trading fees and incentive rewards.

If you're new to this concept or want to learn more, we recommend exploring our documentation for a detailed explanation.

What’s next

TGE

The Token Generation Event will occur after the public sale ends, kicking off Epoch 0 on December 12th.

• DEX Liquidity added

• Claim Tokens at 10 UTC

As Epoch 0 transitions to Epoch 1, get ready for a series of fortunate events! Fees and incentives will start flowing throughout the Ocelex ecosystem, with selected protocols receiving their veOCX allocations and sparking the excitement.

Community Airdrop

During Epoch 0, another significant event will occur: a claim portal will be launched, and we will start to welcome eligible community members from Lynex, Thena, Aerodrome, Velodrome, and Fenix.

You can read more about Ocelex Community Airdrop here.

Afterwards

After Epoch 0 concludes, get ready to vote weekly or delegate your voting power to earn weekly fees, incentives, and rebases.

We’ll continue building robust partner integrations, set to elevate the Ocelex experience and grow the ecosystem.

Details Summary:

• Public Sale Date: 09th December, 10 UTC to 11th December, 22 UTC.

• Format: Dutch auction

• For Sale: 2,000,000 $OCX tokens

• Raise Token: USDC

• Initial Price: $0.3

• Minimum Price: $0.06

• Distribution at TGE:

  • 25/25/25/25 split format

    • 25% liquid $OCX,

    • 25% locked in veOCX for 6 months,

    • 25% locked in veOCX for 12 months, and

    • 25% locked in veOCX for 24 months.

  • Max-Lock with an added 10% bonus

Stay Up-to-date and Join our Community:

• Website: ocelex.fi

• Dapp: pre.ocelex.fi

• Twitter: https://twitter.com/OcelexFi

• Discord: https://discord.com/invite/rTkZNbNggh

Launch Timeline

The pre-mining and pre-launch of Ocelex will be live today, Friday, October 25th, 2024.

During this phase, early participants will have access to specific liquidity pools, earning significant rewards in exchange for providing liquidity.

Pre-mining Phase

As part of the initial phase, a soft pre-mining launch, the following pairs will be live and available for liquidity providers:

• WETH/STONE

• WETH/wstETH

• WETH/USDe

These pools mark the start of Ocelex's liquidity foundation, with many more pools to be added as the pre-mining phase progresses:

• USDC/ETH

• WBTC/ETH

• Yield IQ (wETH)

• Yield IQ (wBTC)

• USDT/WETH

• USDC/USDT

• Yield IQ (USDC)

• ezETH/WETH

*We may add more pools based on partner integrations. Liquidity providers in these pools will be rewarded with a generous portion of the initial supply, which will be strategically allocated across various levels, depending on the token, LP pair, and any partner incentives offered.

The rewards will be distributed in eOCX, which represents ‘Early OCX’ tokens that can be redeemed for:

• 50% in oOCX tokens

• 50% in veOCX, locked for two years

This phase is crucial for building the foundation of liquidity on Ocelex and Zircuit, offering early participants the opportunity to earn a significant share of the platform's success from the very beginning.

How to participate:

• Bridge your tokens to ZircuitL2 using their official bridge

• Go to pre.ocelex.fi/mining,

• Swap them for the tokens you want to pair,

• Add liquidity,

• Stake the LP in a pre-mining pool.

Strategic Partnerships Expanding Ocelex’s Reach

Ocelex is proud to collaborate with a growing list of strategic partners, each contributing to the success of the platform:

• StakeStone: Bringing $sBTC, $STONE, and $STONEBTC, providing omni-chain BTC liquidity across Zircuit and other chains.

• Elara Labs: An innovative lending protocol that uses Dynamic Liquidity Balancing with LRT/LST assets, enhancing capital efficiency and security for crypto lending on Zircuit.

• Gamma Strategies, and ICHI Foundation: These partners will power Ocelex’s Automated Liquidity Management (ALM) Marketplace, offering advanced strategies to optimise capital efficiency and reduce risks like impermanent loss for liquidity providers.

• Algebra Finance: Powers concentrated liquidity on Ocelex, allowing liquidity providers to choose custom price ranges to maximise capital efficiency and earn higher fees. With dynamic fees based on market conditions and built-in farming, Algebra optimises liquidity provision and rewards.

Through these partnerships, Ocelex is set to redefine liquidity provisioning and trading on Zircuit, providing users with unmatched liquidity depth, efficiency, and security. More partners will be announced soon, further enhancing Ocelex’s ecosystem.

Public Sale, TGE and Ocelex’s Growth

Towards the end of the pre-mining phase, the Public Sale will offer the community the chance to join the Ocelex ecosystem. Afterward, the Token Generation Event (TGE) will officially distribute tokens, empowering users to engage with the platform. As Ocelex progresses, liquidity incentives and governance participation will continue to grow, with early liquidity providers receiving their well-earned rewards, setting the stage for a thriving DeFi ecosystem on Zircuit.

Ocelex’s Vision: Empowering Liquidity on Zircuit

Ocelex aims to become the native liquidity layer of Zircuit, enhancing liquidity provisioning and capital efficiency. With support for a wide range of assets, Ocelex is positioned to lead the decentralised finance space on Zircuit.

Stay tuned for more updates as we continue to roll out new features and details about Ocelex’s full launch.

Strategic Airdrop to Attract Engaged Users

To build a robust community from day one, we’ve allocated 50% of Ocelex’s initial token supply to strategic airdrops. This is key to ensuring that Ocelex is supported by users who are genuinely invested in its long-term success. We believe that distributing tokens to actively engaged users creates a thriving ecosystem.

Breakdown of the Airdrop Allocation:

• 45% will go to Lynex’s veLYNX holders (who meet specific criteria).

• 5% will be distributed amongst the most loyal and engaged community members from Thena, Aerodrome, Velodrome and Fenix.

Beyond the community-focused airdrop, Ocelex will reserve additional token allocations for new launch protocols and ecosystem grants. This initiative ensures long-term growth by supporting upcoming projects on Zircuit and integrating them into Ocelex’s liquidity framework.

Special Allocation to Zircuit's Launchpool

We’re allocating 2.5% of our token supply to Zircuit’s Launchpool. This allocation will be used at their discretion as part of their launchpool initiative, aimed at onboarding Zircuit’s user base and expanding Lynex’s exposure to a wider audience.

Focus on Lynex Holders: Ensuring Participation from Core Users

Given the strong relationship between Lynex and Ocelex, 45% of the airdrop is allocated for veLYNX holders.

Eligibility Criteria:

1. A minimum one-year lock on veLYNX

2. Airdrop amounts are proportional to voting power, not simply the size of veLYNX. The longer the lock, the higher the voting power, leading to larger airdrop rewards.

Note: The snapshot for eligibility has not yet been taken and will occur closer to the launch. Stay engaged to ensure you qualify!

Airdrop Distribution & Conditions

Airdrops will be available during Epoch 1 with a 30-day claim window through a dedicated portal. Any unclaimed tokens will revert to the Ocelex treasury, ensuring no disruption to the market or liquidity. Importantly, the airdrop will be distributed as max-locked veOCX positions, promoting long-term ecosystem stability and alignment with the protocol’s success.

The Benefits of Holding veOCX

veOCX holders will benefit from:

• Weekly rewards from trading fees and external incentives.

• Voting power to influence emissions allocations, which boosts APR and optimizes yield.

• Participation in a protocol driven by community feedback and democratic decision-making

Building on the Success of Lynex

Ocelex draws from Lynex proven success as a leading DEX on Linea with over $2.8B+ in trading volume and $6.4M+ in rewards for veLYNX holders. This foundation of success provides a template for Ocelex to replicate on Zircuit, driving innovation and community-driven governance through the same ve(3,3) model. The result is a DEX that prioritizes community participation while offering high returns and sustainable growth.

The Ocelex airdrop represents more than just token distribution—it’s a strategic move to foster a long-term, engaged community. By building on the success of Lynex and choosing Zircuit as its foundation, Ocelex is positioned to be a leading player in the Zircuit DeFi ecosystem. Stay tuned as we continue to push the boundaries of DeFi innovation

What is Ocelex?

Ocelex is a next-gen DEX that focuses on capital efficiency and dynamic liquidity management. Utilizing Algebra’s “1.9” infrastructure, Ocelex combines concentrated liquidity strategies with automated management systems. This setup ensures both traders and liquidity providers benefit from optimized returns.

Why Build on Zircuit?

Zircuit offers an ideal ecosystem for Ocelex’s vision with its advanced ZK-Rollups technology and over $1.8B chain TVL. This L2 enhances scalability and security with features like AI-powered Sequencer Level Security (SLS), making it a robust foundation for Ocelex. Zircuit’s low gas fees, Ethereum compatibility, and verifiable on-chain proofs further support Ocelex’s aim to deliver efficient liquidity solutions.

Building on the Success of Lynex

Ocelex is a friendly fork of Lynex, one of the most successful DEXs on the Linea blockchain, boasting over $2.5B in trading volume. Ocelex inherits the same core mechanics and strengths as Lynex, with key integrations like automated liquidity managers (ALMs) and a governance structure that rewards long-term participants. As a nod to Lynex’s loyal community, Ocelex is preparing an exciting airdrop for veLYNX holders, giving them a chance to be early participants in this new DeFi venture.

Key Features to Expect with Ocelex

• Concentrated Liquidity: Ocelex enhances capital efficiency by allowing liquidity providers to allocate assets within specific price ranges, maximizing returns and utilization. This model initiates the “Flywheel,” driving growth through increased volume and fee generation.

• Automated Liquidity Management (ALM): Ocelex offers a marketplace for professional ALMs that manage liquidity positions, ensuring optimal performance without manual oversight, adapting to market changes automatically.

• ve(3,3) Governance: Ocelex utilizes the ve(3,3) model, empowering veOCX holders to vote on emissions allocations, receiving 100% of trading fees and external incentives. This democratic model rewards capital-efficient pools, strengthening liquidity.

• Set-and-Forget Strategy: With Ocelex, users can enjoy a hands-off experience. Auto-managed strategies and veOCX delegation mean liquidity and votes are continuously optimized, delivering high returns without constant user intervention.

• Capital Efficiency at the Core: Each feature of Ocelex is designed to boost efficiency. From the modular architecture to automated strategies, Ocelex optimizes both individual gains and the overall health of the ecosystem, positioning itself as a sustainable DeFi growth driver.

Conclusion

Ocelex combines the innovative technology of Zircuit and the proven success of Lynex to create a powerful DEX platform that prioritizes efficiency, security, and community involvement. With unique features like ALM and ve(3,3) governance, Ocelex is poised to become a key player in the DeFi space. Stay tuned for more developments and exciting opportunities, including the upcoming airdrop for veLYNX holders!