Open Exchange Token (OX) is a cryptocurrency linked to the Open Exchange (OPNX) project, the first of its kind for trading crypto spot, derivatives, and claims on public orderbooks. Launched on April 3, 2023, it introduced a new token, $OX, on May 31, 2023. OX is at the core of the Open Ecosystem, which includes OPNX and The Herd (a platform for staking $OX and voting on governance). It revolutionizes the typical exchange token model by introducing a democratic staking fee discount model. Users can get up to a 100% fee discount by staking $OX tokens proportional to their trading activity.