NEW Permissionless Stablecoin Minter on BSC
OpenDAO Hosts USDO Minting Platform
OpenDAO will be hosting the minting, borrowing, and lending of USDO on their own site.
What does this mean for OpenDAO and all of its members?
Read more below to find out. 👇
CONTENTS
- OPENDAO STABLECOIN MINTER
- NEXT GEN STABLECOIN: USDO
- HOW TO
- ????????
OPENDAO STABLECOIN MINTER
OpenDAO is rolling out its own stablecoin minting platform — currently in live beta at Mint.opendao.io.
Up until now, USDO minting was the purview of OpenDAO’s grant recipient and partner, Omni Consumer Protocols, who received the grant for this original purpose (and for building out the immediate ecosystem.)
OCP will continue handling the yield optimization strategies, such as yield minting, auto-compounding, vault, trade, etc., and we look forward to continuing this very fruitful partnership with them as we prepare to go multi-chain with a couple more “surprise” features coming prior to that… all before 2022.
Open’s USDO minter will first feature the OCP token as collateral, and will be followed in very rapid succession by many other project partner tokens — all as available collateral for minting our stablecoin(s.)
As an additional feature for those who already have USDO, the platform will also serve as the place to lend USDO for a return, thereby becoming the “singularity” from which all stablecoin activity happens.
This means OPEN will now become the default place for minting, lending and liquidity bonding of USDO.
The platform will be permissionless, and soon, anyone with viable collateral will be able to come and use this tool that is being made available for businesses and individuals alike. Future partnerships will further help us to leverage our efforts.
The final product will have a cosmetic facelift and be more responsive to mobile users. We’re slated to be bridging the platform to several other chains before the turn of the year, and, as mentioned, you can expect to see lots of big assets being added to the collateral mix.
NEXT-GEN STABLECOIN: 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
Using OpenDAO’s Stablecoin Minter is easy!
Follow the steps to get started:
1. Go to https://mint.opendao.io/
Interface upgrade in progress at time of writing, so you may come back and find the interface is more Openy and DAOish.
2. Locate your favorite collateral
Not there yet? Kick us! We care about what YOU want. Kick here.
3. Click Enable
Approve in wallet
4. Make sure “Stake [your asset]” is selected
These are the three main functions on the platform: Stake, Mint, Lend.
5. Stake
⚈ Select Stake
⚈ Enter the amount (or click a quantity button)
⚈ Click SUBMIT
⚈ Approve in Wallet
⚈ You can now mint USDO!
6. Mint
⚈ Choose the top center tab — “Mint USDO”
⚈ Select the “Mint” subtab
⚈ Enter the quantity
⚈ Click “SUBMIT”
⚈ Approve in wallet
⚈ INVEST!
Now you can add your USDO to a farm or liquidity pool, buy more of your favorite token, use it in the Delta City game in 2022, and deploy your USDO in an expanding number of ways!
7. Supply or Stake USDO with OCP
⚈ Head over to ocp.finance and open the app.
⚈ OCP’s ecosystem is one of the easiest and best ways to leverage the strength of your newly minted stablecoins.
⚈ Earn impressive interest rates!
⚈ Add to auto-compounding LPs and/or stake in farms!
8. Lend USDO
Already a USDO Holder? Cool.
Put your USDO to work by lending it.
⚈ Choose the top right tab — “Lend USDO”
⚈ Select the “Lend” subtab
⚈ Enter the quantity
⚈ Click “SUBMIT”
⚈ Approve in wallet
⚈ EARN!
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