OpenDAO + DSD: New Partnership

Logan F
Logan F
Jan 9 · 3 min read

We are pleased to announce a partnership between DSD and OpenDAO! Happy New Year indeed! The future of stablecoins is finally here…

Image for post
Image for post

What is DSD

DSD is a decentralized self-stabilizing and censorship-resistant algorithmic stablecoin without any collateral backing. Oracle-driven pricing for voluntary supply elasticity is used without having to trust third-parties. The Dynamic Set Dollar combines the strengths of different stablecoin projects that came before it. By utilizing the knowledge and experiences of former stablecoin designs, DSD precedes to improve various factors, e.g. capital efficiency, stabilizing requirements and governance. For DSD to become a sustainable and useful stablecoin, integrations with all sorts of DeFi applications are of the utmost importance, particularly lending and borrowing platforms and exchanges.

What is OpenDAO

OpenDAO serves as a bridge between real-world and crypto assets. The goal is to bring more value into the space by providing exposure to real estate, stocks, and more… all in a permissionless and seamless manner. Currently, the protocol is working closely with UMA and Ren to develop new stable coins and in Q1 2021 will release the USDO — a dollar pegged stable coin backed by the world around you: starting with Bitcoin and Ethereum, but rapidly expanding to include other on-chain and off-chain assets.

Mint a Stablecoin with DSD

Soon, you will be able to use DSD as collateral to mint a stablecoin with OpenDAO! Now, why is this great? If you’re a DSD holder, and you are long on the project, you can deposit your DSD during a debt cycle to mint DSDO. From there, you can convert to USDC and use it as you wish! The sky’s the limit, but you could use the USDC for yield farming opportunities and keep your money working hard while you wait. Then later, come back, and convert back to your original DSD and be in extra profit.

Built on UMA

The decision to go with UMA was an easy one: the safety and security UMA provides, with its unique settlement system, creates a line of defense against the growingly common flash loan exploit attacks. Not only that, but the creation of the OpenDAO suite of stablecoins timeline has come significantly closer, and instead of a summer 2021 release of USDO, we are looking at only a few weeks from the writing of this article.

Liquidity and rewards

Could this deal get any sweeter? Yes! There will be a DSDO/USDC pool set up which in the future (requires a vote) could earn DSD rewards as a LP provider! More possibilities to come! Be among the first to get in on this unique opportunity by tuning in for the latest updates:

DSD Discord: https://discord.gg/kHUpxcHEFg
DSD Telegram: https://t.me/dynamicsetdollar
OpenDAO Telegram: https://t.me/opendao

That it’s for now, but stay tuned! Knowledge is power — be sure to check the links below for more info!

DSD Main Links

Site: https://dsd.finance
Twitter: https://mobile.twitter.com/dsdproject
Medium: https://dynamicsetdollar.medium.com/
GitHub: https://github.com/dynamicsetdollar/dsd-protocol
Etherscan: https://etherscan.io/token/0xBD2F0Cd039E0BFcf88901C98c0bFAc5ab27566e3

OpenDAO Main Links

Site: https://OpenDAO.io
White Paper: https://opendao.gitbook.io/whitepaper-v2/
Transparency Document: https://opendao.gitbook.io/transparency/
GitHub: https://github.com/opendao-protocols
Youtube: https://www.youtube.com/channel/UCv5O3ANjupSH_yJmdY4o59g
Twitter: https://twitter.com/opendaoprotocol
Facebook: https://www.facebook.com/OpenDAOofficial
Reddit: https://www.reddit.com/r/OpenDAO/

BUY OPEN:

🦄 USDT/OPEN — https://info.uniswap.org/pair/0x507d84fe072Fe62A5F2e1F917Be8Cc58BdC53eF8

🦄 ETH/OPEN — https://info.uniswap.org/pair/0x1ddf85abdf165d2360b31d9603b487e0275e3928

STAKE LP TOKENS:
https://openlp.opendao.io

MINT Y-DOLLARS:
https://ydollar.opendao.io

Image for post
Image for post
Logan F

Written by

Logan F

Blockchain-Brained Creative Futurist: Make your own future

OpenDAO

OpenDAO

The OpenDAO Project is a decentralized, censorship resistant, trust minimized, viable and scalable endeavour to bring real world assets on-chain in a meaningful manner

Logan F

Written by

Logan F

Blockchain-Brained Creative Futurist: Make your own future

OpenDAO

OpenDAO

The OpenDAO Project is a decentralized, censorship resistant, trust minimized, viable and scalable endeavour to bring real world assets on-chain in a meaningful manner

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store