OINDAO V3’s nUSDO Set for Public Launch December 16th!
The moment you’ve all been waiting for is #near! The OINDAO V3’s nUSDO public release is confirmed to be launched December 16, 2021 at 7:00AM UTC! We have worked tirelessly to provide you with the next generation of our platform with better, safer features and functions, so yes you can be excited!
Quick Facts
- The nUSDO is minted by collateralizing stNEAR (stNEAR is the liquid staking token from Meta Pool, gained by staking NEAR on their platform)
- The Minimum Collateralization Ratio is set at 160% (that’s right! We’ve managed to lower the MCR even further), meaning you can mint 625 nUSDO for every $1000 worth of stNEAR
- You get your own vaults! They’re similar to accounts, but be sure to keep your c-ratio (collateralization ratio) above the minimum 160%, as we have single-vault liquidations!
- There is a minimum of 100 nUSDO mint!
- Fees are paid in nUSDO, which will be used to buyback the OIN token to be burned!
And last but not least:
The nUSDO will launch with immense yield-farming opportunities!
With the private beta testing now complete, having ran from December 8th to December 13th, we’re confident in the ability of the OINDAO V3 to perform up to standard, not just in security as shown by the audit, but also in usability through the beta test.
OINDAO V3
As a refresher on the OINDAO, here’s a quick recap of its features!
- VERSATILITY. Our platform can be deployed on most blockchain networks (layer-1, layer-2, and side-chains)
- LEVERAGING OPPORTUNITY. Upon the deployment of OINDAO onto the network, users will be able to collateralize their assets to mint stablecoins. For instance, NEAR holders can now collateralize their stNEAR tokens to mint nUSDO. This also opens up to endless yield farming opportunities.
- GOVERNANCE. The OIN token is used as the governance token, adjusting the Stability Fee rate that acts similarly to a central bank’s interest rates.
- DEFLATIONARY TOKENOMICS. Stability Fees on the OINDAO is payable in the stablecoin minted. The collected fees will be used to repurchase OIN tokens in a ‘buyback program’ which will then be subsequently burned.
- VAULTS. Vaults are tied to a wallet address and can be liquidated to bring the overall system collateralization ratio up by eliminating those that fall below the Minimum Collateralization Ratio (MCR)
- STABILITY POOL. This pool is used to help liquidate vaults which fall below the MCR while taking any profits made from the liquidation and earning from system staking rewards.
- REDISTRIBUTION MECHANISM. This redistributes the debt to all collateralization pool stakers if funds in the Stability Pool are exhausted, providing a failsafe for the OINDAO in liquidations.
With these innovations at our core, we will continue to evolve and bridge the gap to other ecosystems through our platform. Stay tuned for more exciting updates as we reveal our OINDAO V3 to the public!
ABOUT OIN FINANCE
OIN is a decentralized stablecoin issuance platform. With a robust set of features such as single-vault liquidations and own-brand-labelled stablecoins, we bring the best stablecoin solutions for all, including our Layer-1 and Layer-2 partners.
For all the recent updates and progress, connect with OIN Finance and become a part of our community at:
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