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Open Dollar NFT Vaults (NFVs) are a new primitive in DeFi and a unique feature of the Open Dollar protocol.

On Open Dollar, vaults are represented as NFTs, making each vault distinct and transferable. This feature marks a significant evolution from traditional CDPs. Unlike traditional CDPs, where ownership is tied to an account, Open Dollar uses NFVs, which associate ownership of the collateral and debt to NFTs.

NFV Flow Diagram


  • ERC-721 standard: NFVs are compatible with all blockchain wallets and NFT marketplaces that support ERC-721.
  • Dynamic display images and metadata: NFV images show the current status, health, collateral, and debt of the vault with time-stamped updates, and are rendered entirely onchain.
  • Direct Wallet Management: Users can directly manage and track their CDPs from their wallets, bypassing the need for interacting with the protocol's front end.
  • Composability and Cross-Chain Capability: Facilitates easy batch-transfers and asset ownership transfers, along with efficient cross-chain compatibility.
  • Enhanced Visibility and Tracking: Integrates with wallet aggregators and portfolio trackers for dynamic pricing and updated insights.


  • Transferability and Liquidity: NFVs make CDPs transferable and liquid, allowing trading in the open market.
  • Capital Efficiency and Accessibility: NFVs offer a capital-efficient solution, automating the selling of vaults to avoid liquidation penalties.
  • Improved Treasury and Risk Management: Contributes to enhanced treasury management, risk assessment, and performance tracking.
  • Security Benefits: Integrates into compliance and escrow services for enhanced protection against bad actors.

Learn more about NFVs and their benefits on our blog.