Introduction

GRT holders have had an amazing year – and Open Dollar is making it even better!

For the first time, GRT is integrated as a supported collateral type for loans and leverage, right here on Open Dollar. This new utility for GRT’s 160,000+ fans will allow them to participate in the wider DeFi ecosystem without selling their GRT to do so, unlocking the value behind one of the most popular blockchain tokens.

Why GRT?

The Graph’s debut in 2020 and meteoric rise to their current #51 place by market cap is well-known by most Web3 enthusiasts. The Graph is a decentralized data indexing protocol that organizes and makes blockchain data easily accessible via GraphQL. This infrastructure is essential for DeFi and other Web3 applications, offering a reliable way to index and query data across multiple blockchains such as Ethereum, IPFS, Arweave, and more.

The native token of The Graph, GRT, is integral to the network, used to allocate resources and ensure economic security. Participants like Indexers, Curators, and Delegators stake GRT to perform their roles and earn rewards based on their contributions. The consensus of the Open Dollar DAO was clear – this strong performer in the space is here to stay and worthy of backing OD.

GRT on Open Dollar

Similar to our other supported collateral tokens, GRT can be used to:

• Access Stablecoin Loans: Deposit GRT tokens into your vault to borrow the OD stablecoin at the industry’s most competitive rates.
• Gain leverage: Increase your GRT holdings by using borrowed OD to buy more.
• Unlock value for DeFi activities: OD borrowed against your GRT can be swapped and used for anything, from diversifying portfolios for new plays, DeFi farming, and more.

It’s important to note, your GRT remains in your custody, and repaying your loan allows you to retrieve your deposited collateral at any time.

Using Open Dollar

1. Connect Your Wallet: Navigate to the Open Dollar app and connect your wallet.
2. Create a Vault: Select GRT as your collateral type, enter the amount to deposit, and how much OD to borrow.
3. Manage Your Vault: View and manage your vault directly from the Open Dollar dapp, with dynamic updates on the collateral and debt status.

This walkthrough shows you how to open your first vault in under 90 seconds.

GRT depositors and borrowers will be eligible to receive Bolts as part of our ongoing Vault Keeper Program. The first season of the Vault Keeper Program ends August 21st, so users must act fast to maximize their rewards. 

Additional incentives may be coming soon, be sure to follow our socials to be the first to know!

Get Started!

The integration of GRT as a collateral type in the Open Dollar protocol opens new opportunities for GRT holders to leverage their favorite asset. Get started by creating your GRT vault on Open Dollar today.

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About Open Dollar

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Open Dollar is a stablecoin protocol that enables borrowing against liquid staking tokens and Arbitrum-native assets using Non-Fungible Vaults (NFVs).

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Try the Open Dollar App today and follow us on our socials.

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