Oraichain (ORAI) Will Be Listed on LCX Exchange

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.

LCX Exchange will list $ORAI on Friday, 21st February 2025, at 12 PM CET. 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.

The integration of $ORAI on the LCX Exchange will provide traders with access to a token that fuels a unique and innovative blockchain oracle network. As the demand for reliable and efficient data oracles continues to grow, the listing of $ORAI on the LCX Exchange is expected to cater to the increasing interest in AI-powered blockchain solutions.

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:

The token plays a role as a transaction fee that is paid for parties as follows:

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.

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