Introduction to OINDAO

What is OINDAO?

OINDAO is a decentralized multi-chain stablecoin issuance protocol, enabling community members of other public blockchains to stake their own native tokens as collateral to mint USD-pegged stablecoins.
OINDAO also acts as a multi-chain stablecoin liquidity aggregator protocol, enhancing permissionless composability by allowing multi-chain stablecoins to be freely exchanged.

What is the motivation behind OINDAO?

Stablecoins have proven their prominent roles in the crypto space. Due to their ability to bridge the network gap between fiat money and digital value, they have been one of the most important infrastructure components in all public blockchain ecosystems, and a key driver behind the proliferation of DeFi. To put things in perspective, at the time of writing, USDT (Tether) has reached $65 bn USD market capitalization, and DAI has reached $6 bn USD market capitalization. However, ~70% of stablecoins are currently issued on Ethereum. This results in a strong demand for stablecoin issuance for younger public blockchain networks, such as Avalanche, Near, and Harmony.
OINDAO addresses the above problem by introducing a robust multi-chain stablecoin issuance platform, and embracing a cross-chain governance architecture. The OINDAO project started in August 2020, and have completed to date 3 product versions through Solidity and Rust. The latest version – OINDAO V3 (“OINDAO”) aims to become the most powerful multi-chain stablecoin issuance protocol. Furthermore, by working and integrating with multiple public blockchain projects, the user traction OINDAO accumulates also helps to create cross-chain governance synergies amongst different networks, and strengthens cross-chain composability.

Who are the Constellation Partners?

The Constellation Partners are partnering blockchain projects that are using OINDAO to issue their own branded stablecoins. They are the large, layer-1 public chains, such as NEAR, Avalanche, Elrond, and more. As they consist of many parts to create their own unique ecosystem, thriving in their own realm within the crypto world, they are represented as constellations, with their constituent ecosystem projects represented as the stars that intertwine to create the constellation.
The following is a list of Constellation Partners and their constituent ecosystem projects that have confirmed upcoming launches with OIN V3. They are further along the development timeline in areas such as ecosystem infrastructure to accept stablecoins, use cases, and internal planning:
  • NEAR
The following are Constellation Partners, with whom various parameters of the OINDAO partnerships are still in development, such as their ecosystem's infrastructure to accept stablecoins, their individual priorities, market conditions, etc.
  • Harmony
  • Avalanche
  • Polygon
  • Dash
  • PAID Network
The list is ordered in projected timelines (top to bottom), and will be activated and built upon when appropriate.

What are the advantages of OINDAO?

  1. 1.
    100% non-custodial staking & collateralization
  2. 2.
    Deploys a Stability Pool to ensure the system’s robustness, reducing the required minimum collateralization ratio and maximizing the system’s capital efficiencies
  3. 3.
    Dynamic interest rates ensure a strong 1:1 peg to the USD
  4. 4.
    Multi-chain compatible, allowing cross-chain governance, and maximizing the adoption and composability of the stablecoin