Open Dollar April Highlights

Thomas Jordan-Smith

April 30, 2024

Welcome to the Open Dollar April highlights!

Here we’ll recap the month’s most important developments and highlights from the Open Dollar protocol.
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Developments

Open Dollar Mainnet

Open Dollar is live on mainnet, and with it, we’ve brought the first tradable loans to DeFi!

For what’s new, and what we’ve planned for our first users, see our blog announcement.

You can also view our X thread where we recap the features and supported collaterals on Open Dollar.

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Camelot DEX Lists OD

We're excited to announce that the $OD stablecoin token has been listed on Camelot DEX!

You can find the OD/ETH pool here.

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Raise Debt Ceiling Proposal Passed

The DAO proposal for raising the debt ceiling has passed, with 100% majority support.

As this proposal has been executed, the debt ceiling was raised from 0 to 10m OD, the first vaults have been created, & the Open Dollar protocol has gone live!

View here.
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Arbitrum Token Supported as Collateral

We’ve updated our collateral types for our mainnet launch!

In addition to some of the industry’s lowest fees for borrowing against $rETH and $wstETH, we now support the Arbitrum token as well!

Beyond these, it’s up to the DAO to add more.
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Open Dollar Genesis NFTs

To celebrate the launch of the Open Dollar mainnet, we designed a commemorative Genesis NFT to mint exclusively for 48 hours.

The NFT mint has now ended and all proceeds have been deposited in the DAO Treasury.

Holders of these NFTs will be able to claim a special role in our Discord and may have access to special perks in the future!

View NFTs here.
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Quantstamp Audit for Open Dollar

Industry leading audit firm Quantstamp finished their audit for Open Dollar!

It was incredible working with the pros at Quantstamp. A huge thank you to them for helping keep Open Dollar safe!

View the Scope & Details.
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View Open Dollar Vaults on OpenSea

You can now view your NFVs on the OpenSea marketplace!

Navigate to the OpenSea website.
Click on your "Profile" in the top menu.
When you mint an NFV you'll be able to see it in your account page.
You can also view existing NFVs from other users on the Open Dollar Vaults collection page.
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DeFiLlama Tracks Open Dollar

DeFiLlama is now tracking Open Dollar!
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DeFiLlama, is a comprehensive and industry leading analytics platform in the DeFi space. It provides detailed data on Open Dollar’s market cap, transaction volumes, liquidity, and other critical metrics.

DeFiLlama’s tracking allows users to analyze Open Dollar's performance, offering insights into its adoption rates, stability, and role in the broader DeFi ecosystem.

View here.
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Highlights

Open Dollar Points Naming Contest

Congratulations to AdaptWeb3 for winning the Open Dollar points program naming contest.

We received a lot of creative entries and it was a difficult choice! But after an internal poll and discussion, we’ve decided to name the program the Vault Keeper Program and the points: Bolts.

Thanks to all who participated!

View here.
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X Spaces with Aragon: DAO Mechanics

Join us this Thursday at 3 PM UTC as we explore the ideal DAO governance mechanics with our CEO Joseph and Aragon Project, an industry leader in DAO software.

Don't miss it!

View here.
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Tally Donates Arbitrum to Open Dollar

A huge thank you to our DAO partner Tally for their generous donation of 25K Arbitrum tokens as part of the Arbitrum Foundation grant. The 25k Arbitrum tokens have been sent directly to our Treasury!

These funds will fuel initiatives to expand Open Dollar right from the start.

You can see the Arbitrum in the Open Dollar Treasury for yourself here.
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First Airdrop Claim Period has Ended

The ODG airdrop claim period has ended!

A total of 76,928 ODG was claimed by 6,607 participants. 223,072 unclaimed ODG has been transferred to the DAO treasury to be governed by its participants.

See the transaction details here.

Open Dollar Sponsors Jimi's World Record in Tree-Planting

Breaking records and planting futures!

Congratulations to Jimi Cohen for setting a new GWR by planting over 30,000 trees in 24 hours!
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We're proud to sponsor Jimi on his mission to make a brighter future for the planet.
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His dedication to our planet is inspiring. Let's all echo Jimi's call to action and #LetsGROW!

View here.
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Blog Updates

How to Leverage your Yield - Case Study

In this blog we explored leveraging a Open Dollar vault position by using borrowed funds to buy more of the collateral asset to increase yields, exemplified through a case study with wstETH on Open Dollar.

Read more.
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Collateral Assessment Framework

In this article, we've detailed the primary categories for examination and how to perform the necessary due–diligence for proposing a new collateral token based on this framework.