Introduction to OpenDAO
What is OpenDAO
OpenDAO (OPEN) is a cryptocurrency token generated on the Ethereum blockchain. The OpenDAO is the governing DAO that owns and manages the oUSD stablecoin minter and the OPM money market. Open governance token holders collectively control the DAO. It’s the vision of bringing real-world assets to decentralized finance.
USDO is a Decentralised stable coin supported by a verifiable collateral pool of both on-chain and off-chain real-world assets. Created on the UMA protocol, OpenDAO connects DeFi to the real world in a logical way. With something of value like crypto, stocks, and even real estates, USDO can be minted
OpenDAO enables real-world investments such as stocks, real estate to be used voluntarily in the Decentralized Financial ecosystem through permissionless, trust minimized transparency, protected, and automated protocols.
With OpenDAO you can:
- Unlock liquidity against trillions of dollars of valuable assets
- Adjust access to returns contrarily reserved for the world’s best
- Bring more significance on-chain than there has ever been.
How do I Buy OpenDAO
OPEN has been listed on various crypto exchanges, unlike most major crypto-currencies, OPEN cannot be purchased directly with fiats money. Nevertheless, OPEN can, however, be bought by first purchasing Bitcoin or any other major crypto-currency from any large exchanges like coin base or Binance and then transfer to the exchange that offers to trade this coin and exchange the BTC or Other major Crypto-currency to OPEN.
OpenDAO Supplies
The maximum supply of OpenDAO that will eternally be distributed is 100.00 Million tokens, and the current supply of OPEN in circulation is about 7.93 Million tokens. The current OpenDAO price is $ 1.42 moved up to +13.1% for the last 24 hours. The all-time high (ATH) price of OpenDAO reached $ 3.27 on 12 Feb 2021 and fallen -56.6% from it. OpenDAO’s share of the entire cryptocurrency market is 0.00% with a market capitalization of $ 11.23 Million. OpenDAO’s 24 trading volume is $ 260.57 Thousand. Open is currently trading on 3 markets and 2 Exchanges the vastly effective of them is Uniswap.
Is There Any Security Risk?
Every logical step has been adopted to minimize the security risk as much as possible. OpenDAO strategy for security is established on the philosophy of eradicating attacks from inside and eradicate any attacks from outside and decentralize as quickly as possible.
This means that there are no admin keys for any code that is put out on OpenDAO, it will be fully permissionless. And where required, a 3rd party code that is fit for the purpose will be used. This strategy conserves time, effort, and capital.
OpenDAO also shut their liquidity in Unicrypt for 1 year and will spill it over again as required.
OpenDAO Token Holders
OPEN token holders own and control the OpenDAO. Token holders will someday agree on which assets can be used as collateral for both liquidity pools and USD minting. OPEN will also be used to encourage actions in the OpenDAO ecosystem.
Site: https://bigdataprotocol.com/
Medium: https://medium.com/big-data-protocol
Twitter: https://twitter.com/bigdataprotocol
Telegram: https://t.me/bigdataprotocol
OpenDAO Main Links
Site: https://OpenDAO.io
White Paper: https://opendao.gitbook.io/whitepaper-v2/
Transparency Document: https://opendao.gitbook.io/transparency/
GitHub: https://github.com/opendao-protocols
Youtube: https://www.youtube.com/channel/UCv5O3ANjupSH_yJmdY4o59g
Twitter: https://twitter.com/opendaoprotocol
Telegram: https://t.me/opendao
Facebook: https://www.facebook.com/OpenDAOofficial
