DeFi Yield Farming

OpenDeFi: Bridging the gap between physical assets and DeFi

Pinterest LinkedIn Tumblr

Open Finance is a protocol which bridges the gap between traditional and decentralized Finance through tokenizing real-world assets. This tokenization process increases liquidity and high yield investment opportunities. Specifically, it leads to high institutional investments and enhances open banking.

Institutional investments: Open Finance enables many financial organizations operating in the legacy financial sector to invest billions in the decentralized financial world. Currently, the traditional financial sector has a huge reserve of funds in the form of stocks, gold, and exchange-traded funds, among others.

Open Finance has several options to unlock such huge funds. For example, the protocol integrates on-chain KYC & AML solutions. It also enhances high liquidity, without price slippage, luring many investors. More significantly, the OroPocket mobile application increases user convenience.

Open banking: The mobile app allows users from around the world to carry out business activities at any time. This is possible because the fee pool for broadcasting/meta transactions covers all the gas costs. Considering that over 3 billion people worldwide have smartphones, it makes sense that Open Finance technology increases DeFi banking significantly.

OroPocket banking

OroPocket is an asset-backed decentralized banking protocol without hidden charges and complicated procedures and processes, allowing people to invest in different classes of assets such as premium real estate, Art, Energy & Oil, Wines & Whisky, Patents & IPRs, Equity Stocks, ESOPs & SAFEs, ETFs, and Cryptocurrencies. Users can also trade precious minerals such as gold and silver. Impressively, Open Finance insured these audited tradable assets.

Besides, Open Finance offers a diversity of services, including asset-backed debit cards, instant global transfers, international lending, staking, and high yield farming.

Generally, OroPocket banking reduces inflation, avoids negative interest rates, increases the availability of funds, and overcome all undesirable economic effects arising from a central authority.

Features

Open Finance has outstanding features, including instant trade and universal cross-chain support.

  • Instant Trade: With Open Finance, there are no counter risks. The major reason is that users trade directly using smart contracts, which derive prices using oracles. Procedurally, the users who want to buy the assets send USD-pegged tokens to the smart contract without involving central exchanges. 
  • Cross-chain support: With the Open Finance protocol, it is possible to share assets across different blockchain networks since it is a chain agnostic.
  • Staking: Users can stake their assets on the platform, enabling them to get instant low-interest loans without credit checks or other complicated procedures. Definitely, this increases liquidity in Open Finance.
  • Earning yields: All asset stakers earn interest. They earn the Open Finance native token, the ORO. Apart from the yield varying to the total assets staked, the longer the staking period, the higher the yield. 

Tokens

ORO is an ERC20 token. Its primary functions include building reserves, reward payment, and powering the Open Finance governance. The initial token supply is 100 000 000, which shall increase at a rate of 2.5% per month, compounded.

However, the platform will buy back some tokens using transaction fees. This helps to maintain a reasonable value of the ORO.

Governance

All ORO holders take part in decision making. For example, they decide the burnt rate, product features, and amendments to governance parameters.

The token distribution is:

  • Sale of token 30%      
  • ESOP Pool + Company Reserve 10%      
  • Staking rewards 20%      
  • Building asset reserves 20%      
  • Partnerships 10%      
  • Advisors 5%         
  • Marketing 5%

Community

Open Finance allows its community members to interact with one another and get updated information through various platforms. Any interested members can freely join.

chainlink
Chainlink (LINK) $ 23.71
yearn-finance
yearn.finance (YFI) $ 30,944.00
ethlend
Aave [OLD] (LEND) $ 2.49
uniswap
Uniswap (UNI) $ 11.34
havven
Synthetix Network Token (SNX) $ 16.06
uma
UMA (UMA) $ 11.21
compound-governance-token
Compound (COMP) $ 226.96
maker
Maker (MKR) $ 1,416.63
wrapped-nxm
Wrapped NXM (WNXM) $ 48.98
0x
0x (ZRX) $ 0.537578
loopring
Loopring (LRC) $ 0.448302
republic-protocol
REN (REN) $ 0.595382
kyber-network
Kyber Network (KNC) $ 1.35
numeraire
Numeraire (NMR) $ 27.42
band-protocol
Band Protocol (BAND) $ 9.52
terra-luna
Terra (LUNA) $ 0.892827
yfii-finance
DFI.money (YFII) $ 1,870.63
sushi
Sushi (SUSHI) $ 7.84
balancer
Balancer (BAL) $ 22.17
thorchain
THORChain (RUNE) $ 2.35
reserve-rights-token
Reserve Rights Token (RSR) $ 0.038173
ampleforth
Ampleforth (AMPL) $ 1.11
nest
Nest Protocol (NEST) $ 0.043632
serum
Serum (SRM) $ 2.02
keep-network
Keep Network (KEEP) $ 0.325949
augur
Augur (REP) $ 19.90
curve-dao-token
Curve DAO Token (CRV) $ 2.06
kava
Kava.io (KAVA) $ 2.37
bancor
Bancor Network Token (BNT) $ 1.99
just
JUST (JST) $ 0.030636
gnosis
Gnosis (GNO) $ 119.24
force-protocol
ForTube (FOR) $ 0.023942
cream-2
Cream (CREAM) $ 175.00
melon
Enzyme (MLN) $ 39.56
tellor
Tellor (TRB) $ 30.57
akropolis
Akropolis (AKRO) $ 0.017261
aurora-dao
IDEX (IDEX) $ 0.055932
nectar-token
Nectar (NEC) $ 0.099564
bzx-protocol
bZx Protocol (BZRX) $ 0.405398
airswap
AirSwap (AST) $ 0.142203
switcheo
Switcheo (SWTH) $ 0.022982
orion-protocol
Orion Protocol (ORN) $ 2.93
dforce-token
dForce Token (DF) $ 0.160380
meta
Meta (MTA) $ 3.33
pnetwork
pNetwork (PNT) $ 0.439313