Stat	Value
Ticker	OOKI
Price	$0.00
Market Cap	$0.04
24h Change	+0.0%
Circulating Supply	8.94B OOKI
All-Time High	$0.06
Contract (Ethereum)	0x0de0...379b⧉

What Is Ooki Protocol?

Ooki Protocol (formerly bZx Protocol) is a decentralized finance platform specializing in margin trading and lending on Ethereum and other EVM chains. Users can open leveraged long and short positions on ERC-20 tokens or lend assets to margin traders to earn yield.

From bZx to Ooki

The bZx Protocol suffered multiple exploits between 2020 and 2022 and faced regulatory scrutiny from the CFTC, which resulted in a settlement. The community rebranded and relaunched as Ooki in 2021 with improved security architecture and a new governance structure centered on the OOKI token. CFTC charged bZeroX LLC, the founders — and notably the DAO itself — in a precedent-setting enforcement action in 2022.

How It Works

• Margin Trading: Traders supply collateral and borrow assets up to 15x leverage. Positions are managed via smart contracts; liquidation occurs when collateral ratio drops below maintenance threshold
• Lending (Fulcrum): Lenders deposit assets into liquidity pools and receive iTokens (e.g., iDAI, iUSDC) representing their share plus accrued interest
• Torque: A borrowing interface offering fixed-rate loans with flexible open-end terms

OOKI Token

OOKI is the governance token allowing holders to vote on protocol parameters, fee structures, and upgrades. It replaced BZRX through a one-way migration at a 10:1 ratio (10 OOKI per 1 BZRX).

Risks and Controversy

Ooki’s smart contracts have been exploited multiple times. The CFTC case against the Ooki DAO — arguing that DAO token holders are personally liable — created significant legal uncertainty for decentralized governance structures more broadly.