DAO Mission Statement
The OpenDAO Mandate
The mandate of OPEN DAO is to:
- 1.Keep USDO healthya. Ensure it is at pegb. Increase its liquidityc. Ensuring only suitable collateral is used to support USDO borrowing
- 2.Increase USDO circulation Bring more USDO into the market via pre-seeding various lending markets.
- 3.Increase USDO AdoptionEncourage native use cases such as onchain applications as well as off ramps and real world acceptance.
It is the responsibility of the DAO to ensure that only high quality collateral is whitelisted. In line with this goal, OPEN token holders will be able to stake OPEN for veOPEN which gives them voting rights in governance matters, such as minting more USDO and determining which collateral is accepted on the whitelist as well as seeding whitelisted markets.
veOPEN holders get fees generated by the OPEN protocol from mint and interest. In the event that a whitelisted collateral market suffers a black swan collapse treasury OPEN will have to be sold to cover any losses.
OPEN locked in to create veOPEN can only be unstaked after a 3 month lock. This is to ensure that only committed OPEN holders get the right to vote in governance and secure fees.