Option token (OT) is an ERC20 digital asset released by AOFEX, a universal service platform for digital assets with security in order to constantly grow and improve its ecosystem. AOFEX is a trading and exchange platform for cryptocurrencies, and the Option token seeks to provide application-based utility for all the platform products, rights, and interests. In addition, the AOFEX platform aims to provide OT holders the opportunity to engage in activities and receive rewards. OT seeks to be the core of the whole AOFEX ecosystem, significantly boosting the advantages of OT holders.
According to the platform’s documents, the OT token aims to offer use cases such as deduction of fees, receiving airdrop rewards, preferential purchase of exclusive items, bonus rebates, and more. Further, with a particular quantity of OT, users of AOFEX receive unique customer service. The platform states that OT has been AOFEX’s major trading zone and trade token in comparison to other platform tokens. The OT trading zone is open for exchange transactions with other tokens, as well as OT funding for derivative options, allowing users to benefit from better yields and increasing OT circulation.
Furthermore, the platform seeks to develop a deflation system and adopt the method of burning before output. In this method, the quantity of burning equals the amount of output in order to improve the ecological value of OT. By definition, burning tokens or cryptocurrencies is the process of sending a token to an address that can only accept them. This process essentially eliminates the tokens from the available supply, reducing their quantity in circulation.
The platform further states that every month, the AOFEX exchange allocates 20 percent of its proceeds from transaction fees on buying back OT from secondary markets and burning it. The act of buying back is a type of acquisition of the tokens at market price by the organization itself. Thus, the total quantity of OT is reduced via buyback and listing, which seeks to improve scarcity, provides consistent requirements, accelerates the burning schedule, and builds a complete token economic system.
