Oxen, previously known as LOKI, is a privacy-focused cryptocurrency project that strives to provide a suite of tools and services powered by the OXEN coin. These tools and services aim to enable users and developers worldwide to leverage the power of a decentralized blockchain network to achieve privacy and security on the internet. Oxen's privacy stack includes Session, a decentralized encrypted messaging platform, Lokinet, a low-latency onion router, and Oxen Name System (ONS), a registration system that allows users to use OXEN to acquire temporary or permanent usernames for Session and domain names for Lokinet services. The Oxen coin is used for staking to run Oxen Service Nodes, purchasing name registrations for Lokinet and Session, and transferring value through private transactions.

Oxen operates on a Proof of Stake (PoS) network, where users stake OXEN coins to run Oxen Service Nodes. These nodes are essential for maintaining the network's privacy features, including the secure messaging platform and the network anonymity layer. The Oxen blockchain has a 2-minute block time, and the coin emissions have been adjusted over time. A portion of the OXEN's circulating supply is staked to run Oxen Service Nodes, and a coin burning strategy is implemented through transaction fees and other interactions with the blockchain. This approach is intended to maintain the stability of the OXEN coin.

Oxen aims to provide a range of tools and services that enhance privacy and security on the internet. One of its primary use cases is Session, a decentralized encrypted messaging platform that aims to allow users to communicate privately without the need for third-party facilitators. Another use case is Lokinet, a low-latency onion router that aims to provide a secure and private network layer for internet users. The Oxen Name System (ONS) allows users to acquire temporary or permanent usernames for Session and domain names for Lokinet services, further enhancing privacy. The Oxen coin itself can be used for staking, acquiring name registrations, and transferring value privately.

Oxen was founded by a team of privacy tech enthusiasts: Simon Harman (CEO), Kee Jeffreys (CTO), Christopher McCabe (COO), and Josh Jessop-Smith (CMO). The founders met at the Melbourne Blockchain Center in 2017, and their shared passion for privacy tech and belief in the potential of blockchain led to the creation of Oxen. The project has spent years building technologies to make their vision of a more private internet a reality. Over time, the Oxen coin emissions have been adjusted, and a coin burning strategy has been implemented. A portion of OXEN's circulating supply is staked to run Oxen Service Nodes.