TL;DR

A new OD lending pool is now live on the Credit Guild with GUILD and ODG incentives! During this eight week pilot, depositors to the single-asset OD lending pool on the Credit Guild will earn their share of 1500 ODG and 223000 GUILD tokens in addition to the standard variable APY.

What is the Credit Guild?

The Ethereum Credit Guild is a collective dedicated to building trust minimized lending and borrowing tools for use on Ethereum and its L2s with their first deployment live on Arbitrum. Credit v1 is the first protocol to enable passive lending without trusted oracle price feeds.

The Credit Guild sports a few major advantages over competing DeFi lending pools:

• Resilient to market manipulation attacks
• Stable rates
• Lower liquidation penalties for borrowers thanks to auction-based liquidation
• Able to support long tail collateral and debt assets
• Veto rights and bad debt markdown protect passive lenders

Incentivized OD Pool - Pilot Program

As a result of the recently passed proposal on the Open Dollar DAO, our stablecoin (OD) is now integrated in the Credit Guild platform with additional ODG and GUILD token incentives. Users can now lend and borrow OD on a single-asset pool and earn their share of 1500 ODG along with 223000 GUILD tokens in addition to the platform’s variable APY. 

The additional token incentives of ODG and GUILD will be applied for two months to bootstrap the pool liquidity, starting today. Beyond this pilot phase it will be up to the DAO to decide on further promotional incentives. 

How to earn ODG and GUILD tokens

Lending on Credit Guild is simple – users provide an asset, like USDC or OD, and use it to mint the corresponding gToken. When borrowers repay their loans, the interest paid is streamed to gToken holders, minus the shares that go to Stakers and the surplus buffer (currently, 5% each, so 90% of interest goes to lenders).

To earn your share of ODG and GUILD during this promotion:

1. Navigate to the Credit Guild website
2. Select “OD” from the asset drop down menu on the top left
3. Connect your wallet
4. Deposit any amount of OD

It’s that easy!

In return, you will receive gTokens (gOD) for each OD token deposited. Your gOD balance will rebase up as interest is accrued from lending, and the ODG/GUILD token incentives will be distributed at the end of each four week epoch (July 12 and August 9).

The first users who arrive to the pool may notice that certain charts on the website are blank because there are no active collateral assets yet. Lending is already open, while the first collateral asset onboarding batch  will complete on Friday, June 21.

Conclusion

Utility and liquidity for OD has been expanded with yet another integration, allowing users to lend and borrow on the Credit Guild. Early users who participate in this pilot phase of incentives will earn their share of ODG and GUILD tokens for getting the ball rolling with their contributions to the pool. So check out Credit Guild, be early, and reap the rewards!

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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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