TLDR: Ooki is a powerful and fully decentralized margin trading, borrowing, and lending platform with a ton of features. Today Ooki is launching the OOKI token.
In the last post Ooki DAO launched stage two of the phased launch, which was comprised of the landing page and social media channels. Today Ooki DAO is launching the next phase of our staged Ooki launch with the OOKI token and migration of BZRX to OOKI.
Starting today users can migrate and trade OOKI on numerous exchanges, including Binance, which has already confirmed that they will support OOKI token.
What's New Today
- Ooki Forum: https://forum.ooki.com/
- Ooki Token launching.
- Ooki migration from BZRX to OOKI: https://ooki.com/token-migration
OOKI Token Migration and Launch
The OOKI token is a governance token that allows the Ooki community to govern the protocol through staking OOKI token and voting in the Ooki DAO. The Ooki ecosystem is designed to emphasize community control over the protocol through governance, fee sharing, and voting.
The new OOKI Token migration portal launches today for holders of BZRX. The new token migration page allows users to easily migrate to the new contract with one click. Here are all the details relating to OOKI.
- The migration starts on December 18, 2021 at 21:00 pm UTC and has no end date.
- The move to OOKI will involve a 1:10 split -> 1 BZRX = 10 OOKI. So for each BZRX migrated, you will receive 10 of the new tokens.
- The old token contract will remain active. There is not a deadline that requires users must complete the migration before a certain date. The old contract will not be frozen and will continue to remain active as normal.
- Updating token contract to enable the ability for DAO vote to mint/burn.
- Cheaper gas.
- At the moment users must have their BZRX on ETH to convert it to OOKI. We may add functionality to convert BZRX on Polygon to OOKI if there is demand.
Ooki Token Details
Name: OOKI Token
New token contract: 0x0De05F6447ab4D22c8827449EE4bA2D5C288379B
Total supply: 10.3B
Max supply: 10.3B
OOKI Token staking will launch in the next phase. Below are details relating to the OOKI tokenomics. Ooki DAO will release more information about token staking when Ooki DAO launches the OOKI token staking functionality.
Exchanges will automatically be supporting and migrating so if you are holding BZRX tokens on an exchange such as Binance or KuCoin, you don’t need to do anything.
Other Items to Look Forward to
Ooki DAO is the governance platform for Ooki. Users can submit forum proposals for discussion. The DAO treasury facilitates the DAOs mission to fund critical development, reward ongoing contributors, grow the protocol, express values, and increase longevity. Proposals submitted to the DAO are first discussed in Ooki Forum, and after community consensus is reached, the proposals will proceed to Snapshot vote, followed by on-chain DAO voting. Ooki DAO will be launching soon as part of our next update in Stage Four of the Ooki launch timeline.
Staking OOKI tokens earn platform fees. In our next update, Ooki DAO will be activating OOKI token staking within the Ooki app.
🏦Interest Rate Model 2.0
Under the new interest rate model, rates will scale better with supply and demand, making interest and borrowing rates more competitive and more reactive.
✨Limit Orders with Ooki Pro
Users can place stop loss, and limit orders using the first fully decentralized orderbook with a pro interface.
🍯B. Protocol Integration with more leverage
B Protocol is a liquidity backstop for DeFi lending platforms. By integrating with B. Protocol, we have the ability to offer our users, up to 20x Leverage on margin long and short trades executed on the platform.
Permissionless listings to enable anyone to add a new trading pair.
🔔EPNS Decentralized Notifications
EPNS provides decentralized push notifications. This integration will enable users to receive position updates including notifications when their positions are nearing liquidation.
Ooki DAO will be working on perpetual futures.
🌊Curve Factory Pool and Votium Liquidity Incentives
In order to incentivize liquidity the Ooki DAO will be launching a new wrapped stablecoin pool and incentivizing it through votium bribes.
Ribbon.Finance Treasury Diversification with covered call strategy will be developed using Ribbon's DAO Treasury Vaults.