The OpenDAO minter

A Step-by-Step guide to minting your first Odollars

• First, connect your wallet to the OpenDAO Odollar minter.

• Then select your asset. Let’s use Ocean for this example.

• Minimum mint is 100 tokens, so be make sure you have enough collateral for that.

• Then just click approve,
  And create!

• Now with your Odollars, you can add them to the liqui ..

“But wait I want to swap to USDC???”

Not so fast! At the time of writing, the liquidity pool is still just under $1Mil.
You can see its current volume here: https://pools.balancer.exchange/#/pool/0x4e2579468f414f3b2c683e8562d4c67056d5cb4b/

Be aware that larger swaps will impact the price and may result in less than a 1:1 swap. This creates interesting arbitrage opportunities which Moresh, Lead Architect at OpenDAO, has written a short article on.
For now, adding to the pool and soaking up liquidity mining rewards is the safest play.
Anyway, as i was saying ..

• 😅 Now, with your Odollars, you can add them to the liquidity pool..

• Just deposit them with equal value USDC, and you will begin earning weekly rewards in the form of $BAL and $UMA tokens.

• Your Odollars are minted with a generous collateral ratio, to protect against underlying price shifts.

• Do be aware of the liquidation price however, you may need to supply more collateral if your collateral ratio gets too low.

As a final note - ALWAYS check the liquidity before trying to swap and check our walkthrough unless you 100% know what you are doing! As a new token, liquidity building is in the early stages! Add liquidity FIRST to earn UMA rewards.

Any further questions, please visit the OceanO channel in the OpenDAO Discord - https://discord.gg/N37H2EDSZs

OpenDAO Main site - http://OpenDAO.io
ODollar Minter - http://ODollar.opendao.io