Introduction to Open Dollar

Open Dollar is a lending protocol where users can lock their Liquid Staking Tokens (LSTs) and other assets into Collateralized Debt Positions (CDPs) via NFT Vaults. By doing so, they are able to borrow the stablecoin $OD.

$OD, Open Dollar’s native stablecoin has a continuously adjusting redemption rate based on market volatility. This makes it more flexible and minimizes its governance compared to other stablecoins.

Open Dollar seeks to dampen volatility of LSTs and boost liquidity between tokens while providing a new tradable vaults primitive. Learn more about the protocol by reading the Litepaper.