OpenDAO
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OpenDAO

OPEN DAO ROADMAP (Update)

The OPEN project is focused on connecting real world assets to DEFI.

At a technical level, our key product offering (USDO) looks like Maker’s DAI. However we not only do USD, but also other currencies such as EUR, AUD, INR, MYR, JPY, SGD etc.

Separate to that, we will have a trading platform where all these currencies can be traded in a low slippage, highly capital efficient manner.

Our objective going forward is mainly to increase the adoption of these currencies.

We intend to do this by increasing the utility. The trading platform is just the start where these can be used. We also are working on ways in which these currencies can be used in the real world.

We already have Australian property developers committed to use AUDO, when it launches. This effectively means you can stake Cake, and buy real estate in Australia!

More applications that accept our currencies in the real world are in the works. We are going to follow the Tesla model of doing the expensive, big ticket items first before going mass scale. So expect to buy a super car using USDO before you can use it to buy milk in your grocery store.

The next focus is to build off ramps and pegs.

We are working with exchanges to facilitate the conversion of USDO, AUDO etc to fiat in a seamless manner. The conversion to other stables such as USDC USDT etc will also be incentivised.

This is all on the demand side of these currencies.

On the supply end, we will continuously add new collateral and collateral types for minting the currencies. The start is of course onchain assets, which we already have, the next step is progressively off chain.

On this front our approach remains as before, we focus on liquid off chain assets first such as stocks, commodities etc and then progressively to illiquid assets such as receivables and real estate.

On this end we have precedent from Maker which recently on boarded tokenised real estate as collateral as well as Binance which is now allowing tokenised stock trading.

This makes our path forward much easier due to the increased acceptance from the community.

A lot of the technology is ready already, so going forward our role will be fine tuning, optimising, getting the word out, building partnerships and building ancillary tech that is synergetic.

Where possible we will use existing solutions, brought together in novel ways, or give grants to other teams to speed up the development process. OPEN effectively becomes a protocol/ecosystem of uses cases and applications to connect real world applications with DEFI and the DAO role will be taking decisions on which applications to build by offering incentives.

More on this to follow in the coming months as we commence the handover of governance to the DAO.

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