First, for reference, it is worth clarifying that onXRP is an ecosystem that incorporates everything that happens on XRPL. The ecosystem’s mission is to make XRPL more accessible to newcomers, as well as to provide the tools every investor needs in order to use XRPL.
onXRP consists of various modules that cover such segments as: content, play-to-earn projects, decentralized trading, etc. The main advantage of onXRP as a platform is its interoperability, which is implemented through the eponymous module.
The native onXRP token is OXP. The token itself has several utilities. It can be used to encourage developers of apps based on the platform, as a pair for trading on the internal DEX, as a payment method on the onXRP NFT marketplace, and also as a reward in P2E projects.
At the end of May, it became known that OXP would get its first listing on the centralized exchange. The international crypto exchange, Bitmart, was chosen as the venue for the initial listing.
We will be listed at @BitMartExchange the 31st of May. Deposits start the 29th of May.
We are proud of everyone in the onXRP community for this huge milestone. We did this together. pic.twitter.com/sYmCKDnAv4
— onXRP.com (@onXRPdotcom) May 26, 2022
Despite the fact that the location confused platform users, onXRP representatives were quick to explain their choice to BitMart.
In spite of the fact that the primary placement confused users of the platform, representatives of onXRP hastened to explain their choice. According to their statement, the decision was made based on the analysis of liquidity and trading volumes on centralized exchanges.
The analysis showed that BitMart has a large real volume. Specifically, their volume was $2.6 billion in the last 24 hours, which according to onXRP, opens up a lot of liquidity for the project.
In addition, onXRP said that the token needs to be listed on a good Tier 2 exchange before listing on a Tier 1 CEX.