4.1. USDO: Multi collateral stable coin
USDO is a multi-collateral stable coin developed by OpenDAO

OVERVIEW

USDO has an architecture similar to MAKER DAI and has been designed to be backed by a basket of various assets (onchain and offchain), thereby making it resilient market fluctuations and scalable to the size of any economy.
Users can stake a range of various tokens as collateral and borrow USDO against it.
The minter uses a fork of Compound money market as its code base. Governance is handed over to community who can choose which tokens to add, what collateral factors to set and interest rate models to use for it. Provisions are also made to support portion of the revenue to be passed through to the governance token holders.

PROGRESS

USDO minter at OCP (https://omnicomp.ocp.finance/#/)
USDO minters are already deployed on BSC, Matic (Polygon,) and will be soon deployed on ETH. Future plans include most EVM compatible chains as well as Solana and Algorand.
Our current go to market strategy involves presenting the ability to mint USDO to various project teams. This allows them to give their community a mechanism to unlock value against their tokens - thus being able to go long on the token instead of being forced to sell it.
In return we charge a fee to the project teams that is then used as incentives to those who provide liquidity to the USDO - BUSD/USDC LP.
These additional incentives give strong liquidity for USDO against other stables. Separate to this we are working on various mechanisms for USDO to be used directly in various onchain and offchain applications thus giving it utility.
Eventually however, we will stop adding more assets as collateral directly on this minter and preserve it only for highly liquid onchain assets and tier-1 offchain assets from partner institutions.
Last modified 3mo ago
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