12 Month OCEAN and ETH contracts are LIVE!
Great news for all the $ETH and $OCEAN holders out there! You will now be able to go long — and we mean really long — on your favorite ‘hold tokens!’
OpenDAO, in coordination with UMA and OCEAN, are pleased to announce that these long awaited options are now fully live, and are indeed just the beginning!
“Since our original announcement with Ocean Protocol and UMA, we have made significant headway on creating more utility and interconnectedness in the DeFi space. Via the 12-month ODollar, we not only have very tangible progress, but a product that signals an even brighter future!
On behalf of the team here at OpenDAO, I would like to say thank you and congratulations to the Ocean Protocol team and their community. In DeFi, we forge our future together!”
-Sean Qian, Co-Founder, OpenDAO
Read more below to find out how you can reap the rewards from this brand new opportunity.
The Opportunity
Are you a ‘diamond hands’ ETH or OCEAN token holder? If so, this opportunity was created with you in mind. The new 12-month ETH and OCEAN contracts will allow you to mint an “Open Dollar” or “O Dollar” with ETH or OCEAN as collateral. Open Dollars can be swapped to USDC and used for a limitless number of purposes, or one could earn UMA and BAL rewards by supplying liquidity on Balancer in the ODollar/USDC pool.
The contracts will expire after a year, at which point the ODollar loan can be paid back and the original collateral can be unlocked.
Effectively, this is a way to eat your cake and have it too — by freeing up capital without having to sacrifice a favorite asset that is expected to appreciate in value.
At this point, we’d like to offer a HUGE shout out to UMA for being the solid base this is all built upon. Safe, reliable, HUGE. Thanks UMA! (Learn more about UMA here!)
Mint O-Dollars Now!
Head over to https://odollar.opendao.io/ and get started! If you need help, please follow this step by step walkthrough!
ATTENTION: ALWAYS check the liquidity before trying to swap and check our walkthrough unless you 100% know what you are doing! As a new token, liquidity building is in the early stages! Add liquidity FIRST to earn UMA rewards.
Ocean Protocol — Turning the Tides on Big Data
OCEAN is used to stake on data, to govern Ocean Protocol’s community funding, and to buy & sell data. The smart contracts for OCEAN functionality are also deployed to Ethereum mainnet, and to further networks over time.
Ocean Protocol’s mission is to:
- Unlock data, for more equitable outcomes for users of data, using a thoughtful application of both technology and governance.
In line with this mission, Ocean Protocol is kick-starting a New Data Economy that reaches every single person, company and device, giving power back to data owners and enabling people to capture value from data to better our world.
Tokenomically, the supply of OCEAN is capped at 1.41 billion tokens; 51% of this supply is disbursed according to a Bitcoin-like schedule over decades, to fund community projects curated by OceanDAO.
OpenDAO — The Real World’s DeFi Bridge
OpenDAO (OPEN) serves as a bridge for real-world assets to cross over into the growing DeFi infrastructure. The goal is to bring more value into the space by providing exposure to real estate, stocks, and more… all in a uniquely permissionless and seamless manner.
More to Come…
That it’s for now, but knowledge is power — be sure to check the links below for more info! If you’d like to hear more of these developments or see even more articles like this, be sure to show us that you’re here! Be heard and slap that ‘clap’ button a few times!
Ocean Main Links
Site: https://oceanprotocol.com/
Medium: https://blog.oceanprotocol.com/
Discord: https://discord.gg/TnXjkR5
GitHub: https://github.com/oceanprotocol
Twitter: https://twitter.com/oceanprotocol
Telegram: https://t.me/OceanProtocol_Community
Youtube: https://www.youtube.com/channel/UCH8TXwmWWAE9TZO0yTBHB3A
OpenDAO Main Links
Site: https://OpenDAO.io
Discord:
Telegram: https://t.me/opendao
White Paper: https://opendao.gitbook.io/whitepaper-v2/
Transparency Document: https://opendao.gitbook.io/transparency/
GitHub: https://github.com/opendao-protocols
Twitter: https://twitter.com/opendaoprotocol
Reddit: https://www.reddit.com/r/OpenDAO/
Facebook: https://www.facebook.com/OpenDAOofficial
Youtube: https://www.youtube.com/channel/UCv5O3ANjupSH_yJmdY4o59g
