Overview

Introduction to Open Dollar

Open Dollar is a stablecoin protocol built on Arbitrum designed to help you yield and leverage your assets with safety and predictability.

Liquid staking tokens (LSTs) and other Arbitrum-native assets can be deposited into Non-Fungible Vaults (NFVs) in order to borrow the OD stablecoin with low-interest loans, create leveraged positions, and continue to earn 100% of their staking yield. OD is over-collateralized and pegged to $1.00 with a dynamic incentive system.

Open Dollar’s NFVs are a more capital-efficient alternative to account-tied CDPs, giving depositors the freedom to trade their positions or sell them to arbitrageurs on any NFT platform without fully repaying loans or incurring liquidation penalties.

Open Dollar’s minimized-governance approach ensures the longevity and fairness of the platform. The DAO, powered by the Open Dollar Governance (ODG) token, can vote to add new collateral types but is otherwise limited and cannot mint new OD tokens or change parameters such as fee distribution.