GamyFi x OpenDAO x OCP: Auto-Compounding + Stablecoins
It’s official!
OpenDAO, in coordination with OCP, is joining forces with GamyFi, and for the $GFX holder community, this means:
❇️ No more “rewards harvesting” required
❇️ No more **** coin rewards
❇️ Yes, more APY!
❇️ Yes, Stablecoin borrowing
❇️ Learn more below
- SUMMARY (TL;DR)
- USDO
- HOW TO
- ABOUT GAMYFI
- ABOUT OCP
- ABOUT OPENDAO
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SUMMARY (TL;DR)
OpenDAO and GamyFi have established an incentivized USDO/GFX LP farm with a start block date of 03 Dec 2021 02:24:38 GMT, running for approximately six months.
Furthermore, in coordination with OCP, the new USDO/GFX LP will be added to their auto-compounding platform, Steaks! This means less work, with a higher APY for EVERYONE, yes, that includes YOU. [details below]
Finally, GFX will be made available as collateral for borrowing USDO, thereby enhancing the utility and underlying value already inherent in GFX tokens. We’ll have another announcement coinciding with this going live. Stay tuned!
The pieces continue to fall into place!
USDO
USDO is an over-collateralized multi-collateral stablecoin pegged to the US dollar, thereby making stocks, real estate, crypto currencies, and nearly any real world asset a viable candidate as collateral for minting it.
One by one, assets are being added as approved collateral for minting our stablecoin, and over the next year, we can expect to see larger, more illiquid, and more ‘tangible’ assets added to our platforms.
Of course, USDO is also jam packed with utility and is available for use across a growing number of platforms. Read more here.
Welcome. You’re early!
Join us in OpenDAO Telegram to get the latest news too!
HOW TO
[1] Add $GFX and $USDO to the Liquidity Pool
Got some $GFX? Good.
Did you Bridge your $GFX from ETH to BSC? Good Good.
Got your $USDO? Good. Good. Good. (Also available at PancakeSwap)
Then…
Enable the assets, Approve in wallet! Then add!
[2]Go to the USDO — GFX LP at OCP’s Steaks
https://steaks.ocp.finance/#/bsc/vault/omnifarm-USDO-GFX
[3] Approve + Confirm
Once on the app and once in your wallet
New Users will need to approve TWICE (once for a zap)
[4] Deposit All
Or adjust the slider and click “DEPOSIT”
Approve in wallet.
[5] Done! Auto-Compounding
How easy was that? Your rewards are converted back into their underlying positions. Your rewards are more GFX and USDO!
What does that mean exactly?
❇️ No more daily rewards harvesting (it’s done for you!)
❇️ No more wonky **** coin rewards (No #CAKE or other proprietary rewards)
❇️ Yes, more APY! (Plain and simple)
Instead of seeing rewards, you should see your underlying deposited LP position increase, putting your tokens to work so you don’t have to… and with more of what you love!
ABOUT GAMYFI
GamyFi is an E-Sports and Gaming Ecosystem containing a Fantasy sports app, NFT Battle Royale and NFT marketplace. GamyFi aims to be the global platform where users can interact with games and people from anywhere will be able to play without any boundaries or restrictions.
Join the community https://t.me/GamyFi_HQ
ABOUT OCP
Omni Consumer Protocols is a BSC native DeFi yield optimizing protocol. They supercharge the inherent value in all tokens on their platform and are responsible for the OCP effect, in which tokens on the platform tend to increase in value significantly shortly after.
They were the recipients in OpenDAO’s grant to build a minter for $USDO on Binance Smart Chain (BSC,) which is now live on the OpenDAO platform. With plans to go multichain on the edge of the roadmap, it looks like we can see a rapidly expanding presence, industry wide. They continue to operate the ultimate DeFi lego set up, and very very soon, OCP is also going to…
Well, you’ll just have to see.
As they would say, that’s board member info, and — “Be worth a damn, join the board.”
ABOUT OpenDAO
OpenDAO (OPEN) is the home of the multi-collateral over-collateralized stablecoin, and we serve 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.
Real world industries’ business models will be completely transformed as a result of our success.
Join our Telegram if you haven’t already! t.me/opendao
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Just wanted to say thanks, to you, dear reader.
If you’re clappy and you know it…
Be sure to smash that clap button on the left a few times.
