Minted by locking equal amounts of ERC20 OPEN tokens, bOPEN, pOPEN and OPEN are all equivalents and should represent the same value.
bOPEN uses the Burgerswap bridge which unfortunately has turned out to be extremely unreliable. Conversions of OPEN to bOPEN and vice versa can potentially take hours, even seemingly getting ‘stuck’ for days.
We have made the decision to switch to the pNetwork bridge which uses more robust infrastructure and is quite reliable.
Alongside USDO we will also be launching AUDO, EURO, JPYO, SGDO, INRO etc in quick succession.
USDO is live on BSC: https://bscscan.com/token/0x5801d0e1c7d977d78e4890880b8e579eb4943276#balances
USDO is minted via community votes (post decentralization) but it does not come in circulation automatically. On minting it can only be supplied as an asset to be borrowed from the OmniCOMP money market.
The OCP team received a 50000 $OPEN grant from OpenDAO to build infrastructure for USDO and other stablecoin suites on BSC.
You can find out more about OCP here: https://ocpcorp.eth.link
On OCP’s OmniCOMP (https://omnicomp.ocp.finance) users can supply various assets as collateral and borrow USDO…
You asked, we listened! Here are some answers to the most common questions, sourced from the Ocean community.
Hopefully this brief guide is enlightening!
“The new collaboration with Big Data Protocol is a big step closer towards the maturity of DeFi and Big Data. Being able to deploy BDP as collateral, the new stable coin is going to be a more flexible financial instrument, a benefit for our respective communities, and a cornerstone for further development, not only for Big Data Protocol and OpenDAO, but for the DeFi space as a whole. …
In an ongoing effort to expand to faster and cheaper blockchains, we here at OpenDAO are excited to announce our collaboration with pNetwork, building on their BTC<>xDAI bridge!
This presents a first of its kind opportunity for Bitcoin purists, who will be able to use this bridge to wrap their cryptocurrency onto the xDAI network, and take advantage of quick, low cost transactions, and the fast growing DeFi ecosystem on xDAI .
“In retrospect, it was inevitable..”
Gas fees are out of control on Ethereum, we all feel the burn of making a simple trade. What started as just a cool idea, a little experiment bridging OPEN onto the Binance Smart Chain, has grown due to popular demand into a brand new way you can utilise your OPEN, to trade and yield farm with basically free transfers.
It is highly recommended to read through our previous guide: https://medium.com/opendao/pancakes-burgers-and-binance-oh-my-60512a65880e
The article will step through connecting Metamask to BSC, and in addition this below video explains the wrapping process on Burgerswap* Note — When…
“A DAO can only ever be as strong as the community.”
In recognising this, to incentivise community led development, OpenDAO wants to issue forth what is essentially an “open bounty” on innovative and creative projects for people who want to build with OpenDAO.
Some of these will be offered by the team directly, some to be voted forth by the community.
The #open-grants channel in our Discord server is fast growing, with community members bringing forward their own ideas of cool side projects, such as:
💡 A collection of NFTs, offering perks for holding the complete set. 💡 Online puzzle…
Gas fees got you down?
Want to trade your favourite crypto without paying the price of a fancy meal just in transaction fees?
We’ve got you covered!
Read on, for how to connect to Binance Smart Chain and start trading $bOPEN with far more appealing transaction fees.