CoinYQ Dossier

O sells one terminal; every market keeps its own judge

o1.exchange wraps spot routes, Hyperliquid perpetuals, Kalshi predictions and promised AI tools in one screen. O can affect fees and access, but it neither runs every order book nor inherits the rights and liabilities of those venues.

The terminal existed before the token

o1.exchange began as a non-custodial terminal and later attached O to the product. EarthX Ltd was registered in the British Virgin Islands on April 23, 2026 as issuer under MoonX Foundation; the Base contract followed on May 26. Its constructor minted exactly 1,000,000,000 O to the deployer. Address 0x182FA643E5f29d5EcA75e7b9CF9336A3fe4620b2 fixes this identity against OpenAI’s o1 model and unrelated O-ticker assets.

A single screen crosses three settlement systems

For spot, the API constructs unsigned transactions and the user signs them; O is neither the router nor an order book. Perpetuals travel through Hyperliquid Build Code, where HyperCore keeps book and margin state, validator oracles feed mark prices and venue rules trigger liquidation.

Kalshi determines prediction outcomes and settles winning contracts. Calling the front end an everything exchange does not merge those counterparties.

AI alpha remains a claim without a reproducible test

The introduction says its intelligence finds profitable opportunities before they reach market prices. Published APIs document a ranked alpha-token list and transaction construction, but disclose no model, training provenance, audited backtest or repeatable benchmark. O may gate access to future AI tools; it does not certify forecast quality or compensate a bad signal.

One billion tokens are fixed; their release is separately governed

The allocation is 25% community, 25% ecosystem, 18% investors, 10% team, 16% treasury and 6% liquidity. The disclosure reports 160,000,000 O circulating at TGE and one-year cliffs followed by 36-month linear vesting for investor and team tokens. The Base token has no owner, mint, pause, blacklist or upgrade entry point. Distribution, staking and vesting use other contracts and a reported 3-of-5 treasury multisig whose complete live address map was not published.

The badge paragraph promises revenue, then the rights section withdraws it

The whitepaper first says qualified badge holders may apply for platform revenue. It later says staking carries no revenue share and holding O grants no payment, dividend, interest or revenue; the MiCA paper likewise grants fee and access benefits but no yield or governance. The team keeps exclusive parameter control and may modify rights unilaterally. Without binding terms and deployed code resolving this contradiction, O is conditional service utility, not an enforceable revenue or management claim.

How the project changed

  1. 2025-08-19
    Seed financing closes

    The MiCA paper records a $4.8 million SAFE-plus-token-warrant round involving Coinbase Ventures, AllianceDAO and a16z.

  2. 2026-04-23
    EarthX Ltd is registered

    The British Virgin Islands issuer is incorporated under parent MoonX Foundation.

  3. 2026-05-02
    Contract-suite audit is finalized

    XORS reports 12 findings, including two high severity, all resolved in the audited revision.

  4. 2026-05-26
    Base contract creates one billion O

    The constructor sends the fixed supply to the o1.exchange deployer.

  5. 2026-06-17
    The disclosed TGE date arrives

    Project materials state 160 million O, or 16%, as circulating at TGE.

Evidence and primary sources

Last evidence review: 2026-09-05

What is o1.exchange?

o1.exchange is a trading terminal marketed as the “Onchain Everything Exchange.” Its current documentation describes spot trading with market, limit, sniper and TWAP orders, while the broader platform connects users to multi-chain liquidity and other market integrations. The $O token is the platform’s utility token, not a share in MoonX Foundation or a claim on its revenues.

The canonical Base asset is the verified ERC-20 at 0x182FA643E5f29d5EcA75e7b9CF9336A3fe4620b2, with 18 decimals and a 1,000,000,000-token maximum supply. The project also documents a BNB Chain deployment, but this entry uses the Base contract as its canonical technical reference; external bridge controls are not established by the sources reviewed.

What problem does o1.exchange solve?

The project says onchain trading is fragmented across liquidity venues and chains, while ordinary DEX interfaces lack professional execution controls. o1.exchange addresses that stated problem with a single non-custodial interface and routing layer that documents spot execution plus order types such as limits, sniping and TWAP.

Claims about perpetuals, prediction markets, synthetic assets and tokenized equities should be separated by status: the whitepaper describes some as integrations or roadmap expansion, whereas the inspected trading documentation describes spot order workflows and the four listed order types. None of these product claims turns $O into a legal ownership or revenue instrument.

How does o1.exchange work?

Users connect or manage self-custodial wallets and submit trades through the o1.exchange interface; the trading documentation describes market, limit, sniper and TWAP workflows. Project materials describe $O holding or staking as a route to tiered fee discounts and early feature access. A points program is described as distributing allocations to eligible users, subject to project rules and compliance checks.

The disclosed tokenomics set a fixed 1,000,000,000 O supply: 25% community, 25% ecosystem, 18% investors, 10% team, 16% treasury and 6% liquidity. The disclosure states 16% (160,000,000 O) circulating at TGE, with investor and team allocations subject to a one-year cliff and 36-month linear vesting. The project says there is no public sale and no inflation or minting after TGE.

BaseScan’s verified contract exposes the standard ERC-20 transfer/approval and read functions plus a constructor; it does not list owner, mint, pause, blacklist or upgrade methods. That is evidence about the Base token bytecode, not proof that every external integration or any separate-chain deployment is governed the same way. The documents also say governance is currently team-led and future token voting is only under consideration.

The legal and execution layers do not collapse into that token contract. The MiCA paper names EarthX Ltd, registered in the British Virgin Islands on April 23, 2026, as issuer and Cayman-based MoonX Foundation as its parent. It says the team retains exclusive system control and may change token rights unilaterally; O has no current protocol vote. Spot API users receive unsigned transactions and sign with their own wallet. Perpetuals route through Hyperliquid, whose order book, clearinghouse, validator oracles and liquidation rules control those positions. Kalshi determines prediction outcomes. Public materials market AI-powered alpha, but disclose no model, training provenance, audited backtest or reproducible performance record.

Key facts

  • The canonical Base contract is 0x182FA643E5f29d5EcA75e7b9CF9336A3fe4620b2 and uses 18 decimals, according to BaseScan’s verified token page.
  • The disclosed maximum supply is 1,000,000,000 O and the project describes it as fixed with no inflation or minting after TGE.
  • The disclosed allocation is 25% community, 25% ecosystem, 18% investors, 10% team, 16% treasury and 6% liquidity; 16% (160,000,000 O) was stated as circulating at TGE.
  • Investor and team allocations are described as a one-year cliff followed by 36 months of linear vesting; community Season 1 allocation is described as 3% at TGE, with later seasons not fully specified.
  • The current trading documentation describes spot, limit, sniper and TWAP order types; broader perps, prediction-market and synthetic/tokenized-asset scope is documented as integration or roadmap context rather than one uniformly verified product.
  • The project describes $O as a utility token for fee discounts, early feature access and points-based allocations; its disclosure expressly denies equity, debt, dividends, interest and automatic revenue rights.
  • The verified Base ABI lists no externally callable owner, mint, pause, blacklist or upgrade function; bridge/admin controls for any other deployment or external routing layer were not established in this review.
  • EarthX Ltd, registered in the British Virgin Islands on April 23, 2026, is the issuer under Cayman parent MoonX Foundation; the MiCA paper leaves current system parameters under team control.
  • Spot API calls return unsigned transactions for the user to sign. Hyperliquid supplies the perps order book, oracle, margin and liquidation engine; Kalshi determines prediction settlement.
  • The project markets quantitative and AI-powered alpha but publishes no model specification, training provenance, audited backtest or reproducible performance record.

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Frequently asked questions

What is o1.exchange (O)?

It is the utility token for o1.exchange, a non-custodial onchain trading terminal and DEX aggregator. The Base reference asset is the verified ERC-20 at 0x182FA643E5f29d5EcA75e7b9CF9336A3fe4620b2.

Does holding O give me equity or guaranteed revenue?

No. The project’s disclosure says O does not represent equity, debt or profit-sharing in a legal entity, and that holders are not entitled to dividends, interest, revenue share or other financial consideration merely by holding it. Any badge-based revenue-sharing eligibility is described as conditional and non-guaranteed.

What can I use O for?

Project documents describe tiered trading-fee discounts, early access to selected alpha features and participation in a trading-points allocation program. The exact benefits and eligibility are controlled by the project’s published rules and can change; they are not ownership rights.

What is O’s supply and vesting?

The disclosed total supply is 1,000,000,000 O with 18 decimals and no inflation or minting after TGE. The disclosure states 160,000,000 O (16%) circulating at TGE; investors (18%) and team (10%) are described as one-year cliff plus 36-month linear vesting.

Is governance decentralized today?

Not according to the whitepaper: current governance is team-led with community feedback through Discord and Telegram. O-based voting is described as future exploration, not a live holder right.

Can the Base O contract be minted, paused or upgraded by an owner?

The verified BaseScan ABI lists only standard ERC-20 functions and a constructor that sets the initial supply recipient; no owner, mint, pause, blacklist or upgrade function is listed. This does not establish the controls of separate deployments, bridges or the wider trading platform.

Does o1 run one order book for every market?

No common order book is documented. Users sign spot transactions assembled by o1; Hyperliquid handles the perps book and clearinghouse; Kalshi settles prediction outcomes.

Who liquidates a perpetual position opened through o1?

Hyperliquid rules do. Validator oracle inputs feed its mark price, and positions below maintenance margin can be closed through the book or backstop liquidator. O ownership does not alter that process.

What is verified about o1 AI tools?

An alpha-token API and transaction API are public. A model, training sources, audited backtest and reproducible alpha record are not, so the stronger performance claim remains marketing rather than a token right.

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