We’re Kicking Off Day 2 of #ETHTokyo with a fantastic talk on how to build the next generation of Stablecoins by @CupOJoseph 🪙

Controller Rate Update 🗿 - Reflexer: 7.996% - @letsgethai: 25% - @open_dollar: 29.045%

Gone are the days when you could only borrow from a lending protocol. @open_dollar has successfully introduced a tradable leveraged position to the DeFi space. And now, get ready for the Open Dollar Vault Keeper Program. — 🟢 ONE PAGER — 🔵 Open Dollar Open Dollar is a recently launched stablecoin protocol on Arbitrum that allowing users borrow against their assets through Non-Fungible Vaults (NFV). NFV is a unique DeFi primitive that includes a debt and collateral position. This allows it to be easily transferred or traded, making it a highly composable and crucial component of DeFi building blocks. To understand more, check our previous in-depth post below: xitter.cf/eli5_defi/status/17835… … — 🔵 Highlights — 🔩 Vault Keeper Program (VKP) VKP is the most recent community campaign by OD. Participants who have earned points on the OD platform will receive a $ODG airdrop allocation. — 🔩 Bolts The point system in OD is known as Bolts and can be earned through (based on $ETH-equivalent deposit): ➡️ Referrals, 10% referral points - no cap ➡️ LP on stablecoin pool - 3000 pts/day/ $ETH ➡️ LP on governance pool - 2000 pts/day/ $ETH ➡️ Borrowing OD - 1000 Bolts/day/ $ETH ➡️ Depositing - 500 Bolts/day/ $ETH ➡️ Social Actions (@Galxe , @zealy_io ) - vary — 🔩 Optimizing Bolts Strategy So we have reached the most interesting part: how to optimize your accumulation of Bolts? Allow me to share a few strategies that you can utilize. 1️⃣ Referrals Besides 10% referral points, your referrals also get bonus points for their deposits over the first 30 days 2️⃣ Looping To implement this third strategy, you need to deposit an asset and borrow $OD. Then, convert the $OD into your deposited assets and repeat the process by depositing again and borrowing again while ensuring a safe collateral ratio. Also you can utilize borrowed $OD from deposit to create an LP 3️⃣ Trifecta (Deposit + Borrow + LP) In this strategy, you utilize a triple points accumulation approach. Let's say you deposit 1 $ETH. Then, you proceed to borrow OD, and subsequently create $OD/ $ETH LP in @CamelotDEX . Don’t forget that $OD/ $ETH LP has boosted rewards with Nitro Pool This particular strategy will grant you ~6x more Bolts compared to simply making a deposit. 4️⃣ NFTs and NFVs There are 3 NFTs that can be used to boost your bolts accumulation: ➡️ Genesis Vaults 10% bonus on deposit points - very rare, can only obtain on marketplaces, had to mint 1000 OD within 48 hrs of launch ➡️ Genesis NFTs 7% bonus, rare, can only obtain on marketplaces, had to mint within 48 hrs of launch ➡️ ODOG NFTs - 3% bonus, can still mint by following 3 socials and completing Galxe quest — 🔵 So Why I Must Participate in Open Dollar VKP? → There are only 75,000 $ODG claimed out of a total of 300,000 $ODG allocated for testnet users. → Means that 225,000 $ODG remaining unclaimed, plus an additional 7% or 700,000 $ODG reserved for a future airdrop. → Additionally, there is the potential to utilize the DAO treasury, which currently holds $24 million. → Since the amount designated for the VKP campaign has not been determined, it can be assumed that the majority of incentives will be allocated to the Bolts accumulator. → You can think of it as a Jito airdrop, but on @arbitrum. … — 🟢 More details on VKP xitter.cf/open_dollar/status/179… — 🔴 Disclaimer The information provided in this post is not intended as professional financial or tax advice, and we strongly recommend conducting your own research and consulting with a qualified advisor before making any financial or tax-related decisions. Tagging my friends to check Open Dollar: > @JiraiyaReal > @belizardd > @Only1temmy > @Flowslikeosmo > @CryptoKoryo > @jake_pahor > @hooeem > @zerokn0wledge_ > @alpha_pls > @izu_crypt > @rektdiomedes > @Haylesdefi > @Hercules_Defi > @CryptoGideon_ > @thesaint_ > @DeRonin_ > @andrewmoh > @blocmates > @PinkBrains_io > @0xSalazar > @2lambro > @CryptMoose_ > @DefiIgnas > @andyyy > @schizoxbt > @splinter0n > @matrixthesun > @TheDeFiPlug > @arndxt_xo > @crypto_linn > @stacy_muur > @CryptoShiro_ > @0xFitz > @ahboyash > @Beacon_Early > @DeFi_pandaa > @hmalviya9 > @the_smart_ape