$ORAI Token Is Getting Listed On The LCX Exchange
av LCX Team · February 21, 2025
We are happy to announce the listing of $ORAI. Starting on Friday, 21st February 2025, at 12 PM CET. LCX Exchange will support the $ORAI. …
We are happy to announce the listing of $ORAI. Starting on Friday, 21st February 2025, at 12 PM CET. LCX Exchange will support the $ORAI. Deposits will start on – Friday, 21st February 2025, at 12 PM CET, and the trading pair $ORAI/EUR will be listed.
What is $ORAI?
ORAI is the native token that is created and contained in the Oraichain network. Oraichain is a data oracle platform that aggregates and connects Artificial Intelligence APIs to smart contracts, serving as a foundational base for the creation of new Dapps leveraging AI technologies. Oraichain is the world’s first AI-powered oracle aiming to revolutionize the AI, DeFi, and Blockchain industries.
Native ORAI tokens are required to secure and power the decentralized blockchain oracle network of validators. The native ORAI token is used in different scenarios below:
- Transaction fee: the ORAI token is required in order to run an AI request sent to the Oraichain network and run any transaction.
- Staking for validators: all validators are required to stake ORAI in order to be selected to create a block or fulfill data requests.
- Participation in network governance: the Oraichain network is organized in the DAO manner, all protocol upgrades and parameter changes must be voted by token holders.
The token plays a role as a transaction fee that is paid for parties as follows:
- Request-executing validators
- AI-API providers
- Testcase providers
- Block-creating validators.
The transaction fee is different depending on the fee requirement of request-executing validators, AI-API providers, and test-case providers. The transaction fee should be explicitly defined in MsgSetAIRequest of a request. When a request comes, request-executing validators must decide if they want to execute it. After that, a random validator, which is responsible for proposing a block will execute the request before firing an event to those request-executing validators.
Afterward, these validators interact with test cases and AI APIs to create a MsgResultReport in the end. A report contains the data sources, test cases used, the validator creating the report, and the block height of it. Using this information, we can collect validators, test case owners, and data source owners involved in a specific block to reward them. Only those creating reports are able to receive the rewards. If there is more than one validator asked in the MsgSetAIRequest (ValidatorCount), the transaction fee is divided proportionally to the voting power of each validator.
Users can sign up for an LCX Account here
Start Trading $ORAI
Launch LCX ExchangeDeposits: Deposits open on Friday, 21st February 2025, at 12 PM CET
Pair Listing Details:
$ORAI/EUR starting on Friday, 21st February 2025, at 12 PM CET
How to deposit $ORAI?
Go to LCX Accounts > Wallet
Scroll down to $ORAI.
Click on the “Deposit” tab next to $ORAI.
Your deposit address will be displayed on the screen.
Send $ORAI to this address.
This content is provided for informational purposes only and does not constitute financial, legal, or investment advice. The buying, selling, and trading of cryptocurrencies and digital assets involve significant risk and may result in the loss of your entire investment. Always conduct your research and consult a qualified advisor before making financial decisions. LCX is a regulated entity operating in accordance with the Liechtenstein Blockchain Act. It has approvals for roles including token generator, token issuer, and exchange service provider. LCX provides technology and compliance infrastructure for digital asset services.