The currently available beta version allows users to mint USDO1 by locking in OIN in a smart contract. The USDO1/OIN trading pair will also be available on UNISWAP, allowing an easy method to leverage OIN to increase your stake in OIN.
Why staking OIN
1、Mining Rewards are available to those who stake. The OIN rewards will be distributed according to your proportion of the total stake.
2、Leveraging the stake to mint USDO1, you can increase your stake in OIN, further increasing the available rewards.
3、Pooling is available through other platforms as well, such as Balancer, yEarn, and Curve to get additional rewards while still earning mining rewards with your collateralized stake.
Risk of Staking
Although there are no risks to your stake (you can redeem your OIN collateral by burning corresponding USDO1 amount at any time), there are underlying asset price volatility and the possibility of reaching the predetermined liquidation rate that you must consider.
If the price reaches the predetermined liquidation rate, your collateralized OIN will be returned to the original wallet.