OZONE explained: gas, staking and governance

One coin, several network roles

OZONE is the native coin of Ozone Chain at ozonechain.com, with mainnet chain ID 10121. Whitepaper v3.0 describes four roles: transaction fees, delegated staking, governance and ecosystem payments. It is distinct from the similarly named OZO project at ozonechain.io.

These roles explain how participants use the network. They do not promise a price, income or investment return.

Gas: paying for execution

Sending a transfer or calling a smart contract consumes network resources. The transaction pays a gas fee in OZONE. The whitepaper describes those fees being distributed to validators and delegators through the network’s distribution module.

The gas needed depends on the action. Before confirming a transaction, review the estimated fee and the selected network in your wallet.

Staking: supporting validators

Holders can delegate OZONE to a validator without giving up ownership. The delegation contributes to that validator’s voting power and may earn a share of network transaction fees, less the validator’s commission.

Ownership does not mean immediate transferability. Delegated coins are subject to staking rules, penalties and an unbonding period. Rewards depend on network fees and validator conditions; the whitepaper does not promise a fixed yield.

Governance: participating in decisions

Staked OZONE carries voting power for network proposals. The whitepaper includes parameters, software upgrades, monthly allocation releases and community funds in the governance remit.

A proposal moves through deposit, voting and tally stages before execution. Delegators can vote directly or inherit their validator’s vote. Read the current proposal and applicable rules before participating; specific thresholds and durations are not established by this explainer.

Allocation and supply are different concepts

The whitepaper sets a maximum supply of 50,000,000 OZONE. Its allocation model assigns 95% to ecosystem rewards, 2% to the team, and 1% each to liquidity, research and development, and server infrastructure.

The non-ecosystem 5% is released in monthly instalments over 10 years, with each release approved by the DAO. Those rules are different from the NFTWall distribution mechanism.

Allocation amounts describe the distribution of the maximum supply. They do not establish present circulating balances. The historical initial supply of 50,000 OZONE at launch is also not a current circulating-supply figure.

Understanding burns and circulation

A burn permanently removes coins from spendable supply by sending them to an unspendable address. The whitepaper distinguishes maximum, total and circulating supply:

Maximum supply

The fixed ceiling of 50,000,000 OZONE.

Total supply

Maximum supply minus cumulative burned OZONE.

Circulating supply

Total supply minus treasury holdings and locked allocations.

Use the mainnet explorer for current published figures and the transparency page for methodology and verification links. Treasury ownership and allocation labels should be confirmed from explicit project records, rather than inferred from an account’s balance.

Read the risks alongside the utility

OZONE can lose value, including its entire value. Software failures, contract vulnerabilities, validator penalties, liquidity constraints and regulatory changes can affect participation. An audit of specified application contracts does not guarantee the safety of every network component or application.

Protect your keys, inspect wallet requests and review the terms of any application you use. This article is educational and is not financial, legal or tax advice.