More sophisticated than a lottery, cooler than a bond, and best of all... no losers!

OmniBonds - A Novel Stablecoin Peg-Support: More Sophisticated than a Lottery with ZERO LOSERS

By Logan F | DeFiLogan | 23 Jul 2021


 

OmniBonds is a unique support system designed to assist in maintaining the dollar peg for the USDO stablecoin. (pardon the strange formatting)

This program is intended to run for a limited time, and will reward all participants with the opportunity to farm exclusive benefit-granting NFTs and earn USDO, plus the chance to be the grand prize winner — a golden pot of tokens ($2500 of OCP,) a one-of-a-kind commemorative NFT, and all of the surplus BUSD!

The only losers here are the ones missing out!

Be a WINNER!

Read more below to find out how👇

CONTENTS

  • How it Works
  • Walkthrough: How to Enter
  • Important Details: OmniBond Issuance
  • Big Brain Info

  HOW IT WORKS

USDO is a new multi-collateral stablecoin created by OpenDAO, mintable via our partner, Omni Consumer Protocols (OCP), on their OmniCOMP platform. We are now taking steps for building liquidity and a strong peg for our nascent stablecoin - one of those first steps is to welcome you to the OmniBonds platform!

Here’s how it goes:

OmniBond tokens are purchased with BUSD, which in turn helps raise the price of USDO towards its peg.

Users purchase OmniBonds (BND# Tokens) for whatever the price of USDO is at the time of purchase— each new bond issuance will be numbered: BND1, BND2, etc.

Bond tokens should then be submitted into a prize pool via “Pool Together,” and one lucky OmniBond holder is chosen at random to receive a grand prize after a set period of time. After the prize drawing, Bond holders will be able to stake them.

The next OmniBond issuance will begin at the discretion of OpenDAO and OCP as necessary.

The bond tokens, win or lose, can be staked to earn USDO! The walkthrough below is constant work in flux and it will be updated as necessary!

  WALKTHROUGH: HOW TO ENTER

  1. Make sure you’ve got some BUSD!

2. Head over to our partner-platform OmniBonds here:
👉 https://omnibonds.ocp.finance

3. Inspect the site — a few key things to note:

We paid a DeFi-trained chimpanzee to animate this

  • You’ll notice the links to both Mint and Buy USDO
  • Check the current rewards
  • IMPORTANT: Make sure you add OmniBonds to your metamask via the token address at the bottom (or you won’t be able to see them in your wallet, though the platform also indicates your total!)

4. Use your BUSD to purchase the most recent OmniBond token, submit, and then complete your transaction in your wallet.

Only 99999999 BUSD?

5. Take your BND# to “Pool Together” to enter for the grand prize! Click the “Deposit to win” button.

Click “Deposit to win”

You will receive “PTBND#” which will allow you to unlock your original BND# tokens after the countdown. Click “Approve” → Click “Deposit” and approve the transactions with your wallet.

Approve, and… Deposit! (Note: Different pool for example — always double check though!)

6. NOTE THE COUNTDOWN = MARK YOUR CALENDARS!
(New section for BND1 token staking to be uploaded shortly!)
And finally, click here → https://t.me/opendao to join our Telegram!

  IMPORTANT DETAILS: OMNIBOND ISSUANCE

  • Start Date: July 20th, 2021 (UTC 3AM)
  • Duration: ~6 days
  • Grand Prize: 35,000 xOCP* ($2500 value) + Exclusive NFT + Surplus BUSD

NFT Prize Preview!

*xOCP is OCP which is farmed over 6 months on OmniFarms

One winner will be chosen randomly at the end of the event to receive the grand prize.

Bond tokens will then be exchangeable for ‘Over-Time’ tokens (OT) which can be used to farm exclusive “Executive Card” NFTs! (More details to follow!)

  THAT’S ALL FOR NOW

We will have more details about the NFTs and coming features that will be part of this new stablecoin mechanism! Stay tuned to see more and read below to collect more information!

Keep your eyes on the horizon…   WHAT IS OCP?

Omni Consumer Protocols is a BSC native DeFi conglomerate.

OCP were the grant recipient’s in OpenDAO’s grant to build a minter for $USDO on BSC, which is live now at omnicomp.ocp.finance

Head over to their Medium and see what they have to say, with a beautiful walkthrough too!

Their philosophy is simple, if it makes money, OCP will build it.

Website | Blog | Twitter | Telegram

  WHAT IS OPENDAO?

The OPEN project is a toolkit to connect the real world to DEFI.

The DAO incubates and provides grants to teams using the OPEN toolkit to build solutions that further our mission.

We believe that the key to connecting real world assets to DeFi is to build enough distribution that makes programmatic liquidation enforcement of real world assets possible, and to this end, we created $USDO — a decentralised stable coin backed by a verifiable collateral pool of both on-chain and off-chain assets.

OpenDAO’s role, as the creator of $USDO, is to increase both the demand and liquidity of the currency via partnerships, grants, and on/off-ramping solutions.

Website | Blog | Twitter | Telegram

  1,000 apologies from our graphic designer, Greenland… Iceland… Madagascar…

I wonder how many readers made it this far… GOOD. FOR. YOU!

And THANK YOU! The team appreciates the support and I am sure, if we could see you reading this now, we would be impressed by your diligence.

If you liked our content and/or are happy about the announcement, thank you in advance for smashing that 👏 button a few times.

See you next time!

 

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Logan F
Logan F

Community Lead at OpenDAO and renowned collage artist


DeFiLogan
DeFiLogan

I will be sharing projects that I'm working with, talking about a variety of related financial topics, and might even squeeze in a few unusual philosophical articles!

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