Mint USDO Stablecoin with $HOTCROSS: How To
Getting Value from $HOTCROSS with OpenDAO’s Stablecoin Minter on BSC
OpenDAO’s Stablecoin Minter is a powerful DeFi tool that allows you to unlock the value inherent in a variety of assets without needing to sell.
Getting started is simple!
Stake $HOTCROSS in the vaults to mint USDO → Supply USDO to the high APY stablecoin LP → Use USDO to buy more $HOTCROSS → Repay to unlock collateral.
Scroll Down for Details
CONTENTS
→ How To
→ About USDO
→ About HOT CROSS
→ About OpenDAO
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HOW TO
[STEP 1] Go to https://mint.opendao.io/
⚈ NOTE KEY DETAILS:
{2} Quick Links: Takes you to buy, add liquidity, and staking sites for the selected asset — — — — — -
{3} Your Info: Very important information about your position and assets — — — — — — — — — —
{4} Stablecoin Module: Stake, Mint, and Lend! This is where the action happens. See more below.
[STEP 3] Stake
⚈ Click “Approve” and confirm in your wallet.
NOTE: For first time stakers, there will be TWO MetaMask transactions — one to stake and another to enable collateral
⚈ Enter the amount you’d like to stake, or click the “% or MAX” buttons
⚈ Click “SUBMIT”
⚈ Your collateral is staked, and you can now start minting
[STEP 4] Mint USDO
Hotcross is incentivizing their lending market with 150,000 $HOTCROSS, which means there may be times where users will experience a positive APY for borrowing!!!
⚈ Choose the top center tab — “Mint USDO”
⚈ The “Mint” subtab should be automatically selected
⚈ Click “APPROVE” — Confirm in wallet
⚈ Enter the quantity
⚈ Click “SUBMIT” — Confirm in wallet
⚈ NEW squeaky clean USDO! Cha-ching!
Hey NEW USDO Holder!
With your newly minted USDO, you can supply liquidity to various LPs to earn trade fees. Once you’re an LP, stake in the auto-compounding farms to earn more.
INSTRUCTIONS BELOW!
[STEP 5] Add USDO + BUSD to a Liquidity Pool
This is how we get more out of our stablecoins while our assets wait.
Let’s start by adding $BUSD and $USDO to the Liquidity Pool.
⚈ Start by getting some BUSD with your USDO!
⚈ Then add USDO and BUSD to the pool at OCP’s Trade platform.
⚈ You will now being earning fees whenever anyone uses the pool to go back and forth between BUSD and USDO!
But don’t stop here!
Next step is key!
[STEP 6] Auto-compound LP Tokens for a High APY
⚈ Stake the OCP Trade LP tokens at Steaks:
⚈ Follow this link here to our partner Omni Consumer Protocols, or…
⚈ Approve and Confirm in Wallet
⚈ Deposit All!
⚈ Congratulations!
Your USDO and BUSD LP position is now auto-compounding, earning more of itself and reinvesting itself every 24 hours!
What does that mean?
❇️ No more daily rewards harvesting
❇️ No more wonky **** coin rewards
❇️ Yes, more APY!
[STEP 7] Lend USDO (optional)
This is a great option for those who want to put some stable coins to work! Probably after having been active in the pools for a while, or during a bear market!
⚈ Choose the top right tab — “Lend USDO”
⚈ The “Lend” subtab should be automatically selected
⚈ Enter the quantity
⚈ Click “SUBMIT” — Confirm in wallet
⚈ Start to EARN!
ABOUT 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!
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ABOUT HOT CROSS
Hot Cross is an extensive multi-chain and cross-chain tool suite that enables blockchain teams and their communities to thrive. At its core, Hot Cross aims to be the best toolbox for ETH and EVM networks.
Their development philosophy is agile, and they are a cohort of builders who aggressively seek out opportunities to meet the demands of the now for both B2B and B2C. The core thesis that Hot Cross presents is that users and teams will migrate in part to new networks that feel familiar when presented with good tooling and freedom.
Hot Cross is a company and an ecosystem in and of itself, and our goals are towards allowing communities to flourish using our technologies, whether or not they know we are the ones building them.
Website | GitHub | Twitter | Telegram
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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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