Introducing: OmniVAULT
Like a savings account but the interest rates don’t suck
Prologue _
There’s no denying, OCP’s flagship platform OmniCOMP has been a tremendous success. Over $16Mil TVL deposited, backing over $1Mil minted $USDO trading liquidity.
With view to maximize users gains, one key area constantly tweaked has been staking APY. In some ways a limitation of OmniCOMP being entirely dependent on other users borrowing, the APY has been sometimes very lucrative, but inconsistent.
So what if then, instead of just staking and borrowing to generate APY, users could deposit interest bearing assets as collateral? Assets already in farms earning yield?
Initialize _
.// OmniVAULT BETA
>> O N L I N E _
Live now, the single-asset 🥞$CAKE vault earns (at time of writing) 75% APY, auto-compounding, whilst ALSO serving as collateral to back borrowing the $USDO stablecoin.
Under the hood, OmniVAULT is combining the tech architecture of OmniSTEAKS and OmniCOMP. The key difference here though, users are presented with their own personal OmniVAULT, which other users cannot borrow from.
Each asset vault is insulated from market activity of other assets, separately backing it’s own allocated pool of $USDO for borrowing. This structure should protect against even the most Titanic black swan cascading failure, allowing for finer granular control and overall health of $USDO as a collateralized asset.
To summarize:
- OmniVAULT allows collateralizing high APY yield farms.
- Borrow $USDO against these interest generating assets.
- Staked assets in your OmniVAULT are yours. Other users cannot borrow.
- 100% liquidity. Retrieved deposited assets any time (after repaying debts).
How to _
Getting started
1:\
Visit OmniVAULT.ocp.finance.
Connect wallet.
2:\
Create Zap Contract.
This will manage users personal compounding vaults on the platform.
3:\
Stake Cake. For this guide will deposit full balance.
Click [max] then [supply].
4:\
Deposit is now earning 75% APY. For $CAKE, can borrow up to 50% of deposited value as $USDO.
Similar to OmniCOMP, minting your full available limit is high risk. Slightest price drop then may see your deposit liquidated. DYOR.
5:\
Will mint 75% of limit for demonstration sake.
Success.
Deposited collateral is generating yield, growing in value.
Meanwhile we have $USDO stablecoins backed by that interest bearing asset.
To retrieve deposited assets, simply reverse this process.
Unlike OmniCOMP, users cannot borrow your deposited assets, so liquidity is always present. Staked collateral can be removed at any time, provided you’ve paid off your debt of course.
A new concept to be sure, minting stablecoins against compounding assets generating yield, however we are confident this presents a revolution not only for the growing OCP ecosystem of platforms but DeFi in general.
Next _
Future plans
For now, this solitary $CAKE vault will be the main compounding asset on OmniVAULT. After further testing and fine tuning expect to see more assets quickly integrated into OmniVAULT such as BTC, stablecoins, and more.
All being single-asset deposit, generating compounding yield whilst serving as $USDO collateral.
For more info and any further questions please reach out on our socials.
We are always active, and our most veteran and experienced community members ever eager to share their guiding wisdom.
Omni Consumer Protocols
Be worth a damn, join the board.
.// OCP.finance
.// OmniCOMP.ocp.finance
.// OmniVAULT.ocp.finance
.//OmniSTEAKS.ocp.finance
.// OmniFARMS.ocp.finance
.// OmniTRADE.ocp.finance
.// t.me/OCPcorp
.// twitter.com/OmniC_Pro
