@lucas
@lucas
OpenDAO: A DeFi Bank Your bank probably offers different kinds of loans. In return for a promise to pay it back with interest, they will front you some money for things like buying a car, and you can use the item as collateral, so the bank has something to recoup losses with if you don't pay them back. Since the bank needs people to deposit their money to use to give out loans and make a profit, they will encourage you to put your money in their bank by paying you a small…
@lucas
OpenDAO's Stablecoin Will Use UMA for Collateral Like Real Estate and Stocks! OpenDAO has been running for months to test the Open Market and first iterations of the Cashbox system for providing liquidity to various real-world assets. The goal has always been to build a solid, more inflation-proof stablecoin with various kinds of collateral backing it. Previously, they had planned to fork Synthetix, but this would've required OpenDAO to deploy smart contracts for the mintr,…
@lucas
OpenDAO Is About to Revolutionize DeFi. You Don't Want to Miss Out! A stablecoin backed by real-world collateral: stocks like $AAPL and $TSLA; real estate; invoices. Decentralized banking. Need I say more? You may know from my past articles that I'm very excited for OpenDAO. Months of testing have allowed the team to refine UI elements, battle-test code, and iron out important technical details. Now, with Christmas approaching, final tests are being run to open up the…
@lucas
OpenDAO has big announcements coming on December 23rd! Mark it on your calendar, and buy your ticket to the moon! https://OpenDAO.io
@lucas
UMA's yDollar attracts over $6 million of minting activity in 2 days following OpenDAO launch OpenDAO is working towards a stablecoin and banking solution with real-world collateral such as $TSLA stocks and real estate. In recent months, the team has worked closely with UMA Protocol to build an interface for UMA's 3-month rolling smart contracts which essentially represent a fixed-term loan backed by collateral tokens. "OpenDAO's Stablecoin Will Use UMA for Collateral Like…
@lucas
OpenDAO Stock and Real Estate Backed Stablecoin Will Launch Soon UMA Protocol lets developers build synthetic assets - a special kind of digital token which follows the price of some other valuable asset. For the last 3 months, they've run a Yield Dollar to mint based on collateral with a time limit. They represent a 3-month fixed term loan, so if you believe in the success of Bitcoin or Ethereum, you can get USDC as a loan while holding that crypto as collateral and…