Open Dollar
Financials
Estimates*
USD | 2023 |
---|---|
Revenues | <1m |
Date | Investors | Amount | Round |
---|---|---|---|
$2.0m | Seed | ||
Total Funding | €1.8m |
Related Content
Recent News about Open Dollar
EditOpen Dollar is a decentralized lending protocol that allows users to lock their Liquid Staking Tokens (LSTs) and other assets into Collateralized Debt Positions (CDPs) via NFT Vaults. This process enables users to borrow the native stablecoin, OD, which features a continuously adjusting redemption rate to mitigate market volatility. Open Dollar primarily serves cryptocurrency investors and traders looking to leverage their assets while maintaining liquidity. Operating in the decentralized finance (DeFi) market, the business model revolves around providing a flexible and low-governance borrowing solution. Open Dollar generates revenue through transaction fees and interest on borrowed OD. The platform aims to reduce the volatility of LSTs and enhance liquidity between tokens, offering a new tradable vaults primitive.
Keywords: decentralized finance, lending protocol, Liquid Staking Tokens, NFT Vaults, stablecoin, Collateralized Debt Positions, cryptocurrency, liquidity, governance minimization, market volatility.