Ooki brings Ooki version 2.0 to Ethereum with the latest features enabled by dynamically adjusting interest rates. After the successful passing of the OOIP-11 on-chain voting, the Ethereum distribution was upgraded to use the interest rates v2 algorithm. Here are a few examples of what can now be done with Ooki’s Ethereum distribution:
- Removal of open position rollovers.
- Adjust rates dynamically to ensure borrowers and lenders get the most favorable rates when opening new positions on Ooki.
- Aim for 80% utilization and ensure the best use of the pools.
- Variable rate model, indefinite term loans rather than fixed rate loans with 28-day renewals.
- Dynamically changing rate curve.
Ooki’s dynamic interest rate mechanism aims to ensure that borrowers and lenders receive optimal rates when opening new positions on Ooki. Ooki’s approach to providing lenders and borrowers with optimal rates uses a variable interest rate with a dynamically changing interest rate curve. The new dynamic interest rate system is preferred as it will allow the liquidity pools to grow even more.
Overall, Ooki’s new dynamic interest rates will improve the experience for borrowers and lenders by introducing several major revisions to how lending and borrowing rates are calculated.
Ooki has previously launched dynamic interest rates on Ooki’s Arbitrum, Polygon and BSC distribution to thoroughly test the feature before deploying it to Ethereum. Following the successful completion of this phase, Ooki is now excited to extend this functionality to Ooki’s Ethereum distribution.
Dex Selective and Social Sharing
Other new features that Ooki offers in this version of Ooki 2.0 on Ethereum include the introduction of Dex Selector and social sharing functionality.
Dex Selector is a new tool available to margin traders to assist in better execution of trades. This allows users to identify and choose different DEXs for where their trades will take place to get the best trading price.
This feature will support the following AMMs: SushiSwap, Uniswap v2 and v3, Pancakeswap and Quickswap. Supported DEXs in the planned future are Curve and Kyber with their newly released aggregators. Initially, users will be redirected to the default AMM and then users will be able to manually select which AMM they prefer. The AMM selected for execution will most likely be driven by which AMM currently has the best price for that asset.
The Ooki protocol is available to developers and professional users. flash loans. Flash loans are an unsecured loan option designed for developers. Flash loans allow users to borrow money instantly and easily with zero collateral obligation, provided that liquidity is returned to the pool in a single transaction block. Use cases include arbitrage, collateral swap, self liquidation, and much more.
When Ooki introduced this feature, flash credits did not charge any fees. With today’s protocol update, Ooki started charging for flash credits. As a result of this, Ooki stakers will also profit from these flash loan fees.
The new fee for flash loans is 0.03%. Developers using bots should take this new fee structure into account when designing their quick loan strategy so they can be sure that their quick loan is profitable.
New Trading Pairs
Ooki is also excited to announce that, following a DAO Governance vote, it is launching APE tokens for use in lending, borrowing as collateral, as well as short- or long-term margin trading. If you are an APE token holder, do not let your tokens sit idle in your wallet, instead start using them to earn passive income by lending them and earning interest or using them as collateral for borrowing stablecoins. Then invest these hard coins into a liquidity farming pool for passive returns.
About the Ooki Protocol
Ooki is a protocol for margin trading, borrowing, lending and staking that enables the creation of Decentralized Applications for lenders, borrowers and merchants to interact with the most flexible decentralized finance protocol across multiple blockchains. Ooki is a fully decentralized, community-run DAO governed by community voting for all major changes to the protocol. Ooki users can trade margin with up to 15x leverage using a fully decentralized trading platform.
Disclaimer: This is a paid post and should not be considered news/advice.