OIN Finance announced this Monday, January 17, through its Twitter account, that the $oneUSD will be launched at 11:00 pm PST, this will be accompanied by “some Yield Farming leverage opportunities and use cases”.
“OneUSD will launch natively on Harmony Protocol today (Jan 17) at 11:11 p.m. m. PST today! With great incentives (more to come) and endless potential, the ONE-backed stablecoin will soon be available to users on our OINDAO V3 (see https://v3.oin.finance/ for list)!”, he said through an article published on the Medium platform.
The company explained that having launched its first stablecoin on OINDAO V3 a month and a day ago, “we couldn’t be more excited to bring you the next stablecoin on our platform, oneUSD.” With all the bells and whistles of V3, like single vault liquidations, incredible leverage opportunities, and multi-token rewards, oneUSD opens up another massive market for its collateralized stablecoin platform.
Also read: Bribe shared proposal to add $MIM as Aave asset
Yield farming with OINDAO
Fast facts:
• 900,000 OIN token rewards over 12 months for the Stability Pool
• 1st month increases to 2x rewards (~138,461OIN)
• Month 2-12 is at the regular OIN of 69,230
• More rewards will be announced in the coming days!
OINDAO V3
For a quick summary of the OINDAO V3 features:
LINK: https://v3.oin.finance/
• Vaults: like accounts, the place to deposit and guarantee your ONE
• Minting / leverage: mint oneUSD guaranteeing your ONE.
• Minimum Collateralization Ratio (MCR): The MCR is set at 160%, so manage your vaults at a healthy rate! Low enough for usability, while high enough for stability!
• Single Vault Liquidations – If a vault falls below the MCR, users can liquidate that specific vault to increase the overall C-ratio.
• Stability Pool – A place to stake your oneUSD, while providing the resources to aid liquidations and residual earnings!
And for a quick summary of the OIN token:
• Deflationary tab! — The Stability Fees paid in OINDAO will be in one dollar. This is then collected to buy back the OIN token on the on-chain market and is then burned
• Governance: The OIN token will be used to control the Stability Fee fee. This feature will be released sometime next year.
