Ooki Updates for May 13th, 2022

Ooki Updates for May 13th, 2022


OOIP-12 Celer Bridge Allocation

A new proposal is live for voting on following forum discussion. Ooki Stakers can participate in the vote at the Ooki DAO governance page on Tally. Voting starts on May 15th and will be open for voting for approximately three days.

APE/ETH Trading Pairs

Following DAO Governance, APE is now available for margin trading, borrowing and lending on Ooki.

V2 Interest Rates are live on Ethereum

Following successful passage of OOIP-11 on chain vote to enable migration of loans to interest rate v2 on Ethereum, the Ethereum deployment has been upgraded to use the interest rates v2 algorithm.

Ooki DAO originally launched V2 interest rates a few months ago on all chains except for Ethereum. Now that the dynamic interest rate mechanism has proven successful it has been successfully deployed to Ooki on Ethereum.

In case you missed the details of what V2 interest rates does, Ooki’s new dynamic interest rates improves the experience for borrowers and lenders by introducing a variety of significant overhauls to how lending and borrowing rates are calculated. A few features the new interest rate engine that are now enabled on Ethereum:

  • Removal of open position rollovers.
  • Dynamically adjust rates to ensure borrowers and lenders receive optimal rates when opening new positions on Ooki.
  • Target an 80% utilization rate and will keep pools optimally utilized.
  • Variable rate model, indefinite term loans, instead of fixed-rate loans with 28-day rollovers.
  • Dynamically changing rate curve.

About Ooki Protocol

Ooki is a protocol for margin trading, borrowing, lending and staking enabling the building of Decentralized Applications for lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol on multiple blockchains. Ooki is a fully decentralized, community-run DAO, governed by the community vote for all major changes to the protocol. Ooki users can engage in margin trading with up to 15x leverage using a fully decentralized trading platform.