DeFi has the potential to not only revolutionize how people around the globe exchange value and access financial services, but to also give those same people the opportunity to break free from the arbitrary financial restrictions that prevent them from seizing life-changing opportunities. —
However, DeFi is only in its infancy, and we have yet to see the movement make a major impact on the global stage; the entire DeFi market deals almost exclusively with a niche of on-chain assets, which leaves a literal world of “real” assets out of the picture. Without these real world assets, the scale of DeFi and cryptocurrency will continue to pale in comparison to even a single company such as Apple or Facebook, not to mention the $73 trillion dollar stock market or the $217 trillion dollar real estate market.
The next logical step for DeFi and cryptocurrency is to envelop real world assets. OpenDAO is here to make this crucial step in tokenization a reality.
Founded by a team with diverse backgrounds in securities tokenisation and traditional finance (particularly in real estate development finance), and having the backing of crypto funds such as Signum Capital, Moonwhale Ventures and TRG Capital, OpenDAO is well positioned to become the bridge for trillions of dollars of real world assets to be used meaningfully in DeFi.
Where others have failed, OpenDAO hopes to succeed with its 3 core protocols, which when used together, solve for the key challenges in dealing with real world assets such as off-chain enforcement, liquidity and trust minimization:
● Cash Box + Open Stake - The mechanism by which on-chain liquidity is created against off-chain assets and how off-chain enforcements are handled.
Liquidity providers supply stable tokens (USDC, USDT, DAI etc) to a cash box which becomes a perpetual counterparty to anyone with collateral (asset) tokens. Collateral tokens could be tokenized real estate, shares, or any other kind of tokenized real world asset. LPs earn fees as well as OPEN tokens for staking.
● OPEN USD (oUSD) - How productive real world assets serve as collateral to mint a stablecoin.
oUSD grants those with productive assets the ability to mint a superior stablecoin. Think of it as MakerDAO’s MCD crossed with Synthetic’s SNX mechanism for maintaining the peg. The goal of oUSD is to fulfill all 5 requirements of sound modern money - a feat yet to be accomplished by any of the current stablecoin options, fiat currencies, or traditional stores of value.
● Open Market (OPM) - A money market that allows users to lend against real world assets for a stable and high return, and conversely, how borrowers can utilise their real world assets as collateral.
The OPM is live on mainnet now, and the team are currently running a beta program on their OPM money market where lenders can earn a high (9%+ 30 day avg APY) interest rate as well as OPEN tokens for participating. More details are opendao.io/beta
More details of each protocol and how they come together can be found in the Whitepaper and their official Medium: medium.com/opendao
Being a DAO, the team will be transitioning to distributed governance and control via OPEN token holders following its IDO. 50% of the 100M OPEN tokens will be used for community incentives such as yield farming on Open Stake and lending/borrowing on the OPM.
The team conducted a 5X oversubscribed private sale in September and plan on doing a crowdsale via its Cash Box & Staking mechanism by early November.
Find out more about the project at the links below:
Website & Whitepaper: OpenDAO.io
Lend on the OPM: opm.opendao.io
Join our Telegram & Discord
Medium Articles: medium.com/opendao
Follow us on Twitter
And on GitHub
Name: Sean Qian
Email: Send Email
Organization: OpenDAO LLC
Address: C/o Otonomos LLC, 1201 N. Orange Street Suite 7160, Wilmington, 19801 Delaware. USA
Release ID: 88979802