We are excited to announce the launch of the Open Dollar Governance (ODG) token! Airdrop recipients can now claim their ODG on our governance page and begin participating in the Open Dollar DAO. The ODG token has been officially listed on Camelot, and for those who thrive on details, our freshly updated docs have more information on tokenomics and governance.

Official Links

Heads up — stick to these verified links for safety:

• Network: Arbitrum One (Chain ID 42161)
• ODG Token address: 0x000D636bD52BFc1B3a699165Ef5aa340BEA8939c (Arbiscan)
• ODG/ETH Camelot Pool:  https://info.camelot.exchange/pair/v3/0xf935263c9950eb2881ff58bd6a76c3d2564a78d5

Governance

As an ODG holder, you’re a decision-maker! Members of the DAO (all ODG holders) can craft proposals, cast your vote, or delegate your voting power to trusted delegates. It is your voice that will shape the future of the Open Dollar protocol — get started on our governance page!

Token Utility

At the core of Open Dollar DAO is its treasury - a reservoir of ODG tokens that is continuously replenished through protocol fees. Here, proposals unfold, determining how ODG is distributed to fuel various initiatives, like:

• Liquidity Mining Incentives: The DAO can use ODG to provide incentives for liquidity mining. This is more than just a reward system; it's a mechanism to ensure a robust and healthy liquidity level within the protocol
• Grants for Community and Ecosystem Development: The DAO can award grants to support projects or individuals contributing to the ecosystem's growth. This can include funding for research or marketing, development of new features, community-building initiatives, and more.
• Prioritizing Feature Development: The DAO plays a crucial role in deciding the priorities for new features and developments within the protocol, ensuring that the development efforts are aligned with the protocol’s long-term vision and community needs.
• Strategic Investment and Partnerships: Apart from direct fund allocation, the DAO can engage in strategic investments and forming partnerships that can enhance Open Dollar’s outreach and ultimately value.

While the DAO is independent, it respects the core structure of the protocol. The DAO cannot set new stability rates for existing vaults, mint new OD tokens, change the distribution of fees, or update preset or market-determined parameters of the protocol. Instead, the DAO will focus on new collateral types rather than altering established pillars like stability rates or token distribution.

Platform fees and revenue

50% of the fees from the Open Dollar protocol go directly to the DAO-controlled treasury, while the other 50% is strategically used to purchase ODG through an auction, continually accruing value to the ODG token.

Of the ODG purchased in the auctions, 50% will be allocated to the treasury for use in grants, incentives, and community distributions, while 50% will be burned forever.

ODG Token Allocation

Initial Total Supply: 10,000,000

Camelot Pool

We’ve chosen Camelot DEX, a trusted, popular Arbitrum-native exchange, for our first listing of ODG. ODG is now live and available on Camelot.

You can find the ODG/ETH pool here: https://info.camelot.exchange/pair/v3/0xf935263c9950eb2881ff58bd6a76c3d2564a78d5

Claim your ODG Airdrop

As of today (January 17th), ODG token claims are live! Claims will be open for a 90-day window until April 17th. After the claim period, unclaimed ODG will be sent to the DAO treasury. Spread the word to your eligible peers to claim!

Claim your tokens on our DAO governance page, powered by Tally!

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Open Dollar is a DeFi lending protocol built on Arbitrum for borrowing against liquid staking tokens while earning staking rewards and providing CDP liquidity with Non-Fungible Vaults (NFVs).

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

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