You can currently borrow the OD stablecoin against Rocketpool's rETH for 1.75% APY, with no other fees.

And you keep earning 100% of the yield from your deposit.

Only on Open Dollar. https://t.co/fd2VDln1tS
— Open Dollar (@open_dollar)
May 3, 2024

We proudly support @Giveth on their mission to make the world a better place via funding public goods projects!🙌💙 https://t.co/MPNE2hhJ4p
— Open Dollar (@open_dollar)
May 3, 2024

Congratulations @Arbitrum! 🎉

Being the first L2 to surpass $150B in swap volume is a testament to the scalability and efficiency of the platform.

Open Dollar is proud to be built on Arbitrum, powering the next wave of decentralized innovation! 🚀 https://t.co/Roun96RF4f
— Open Dollar (@open_dollar)
May 6, 2024

1️⃣ Exciting times ahead for Open Dollar with the launch of mainnet featuring unique auction mechanisms designed to boost protocol stability and liquidity 🌊

Let's dive into how these auctions work and what they mean for you 👇 https://t.co/GYRckszfXx
— Open Dollar (@open_dollar)
May 7, 2024

2️⃣ Collateral Auctions

These are triggered during vault liquidations 🌊

The seized collateral is sold in exchange for OD 💱

The OD that is received by an auction is burned 🔥 https://t.co/YV2GELpfKe
— Open Dollar (@open_dollar)
May 7, 2024

3️⃣ Increasing Discount

To attract bidders, collateral is sold at an initial discount

This discount increases until a maximum value is reached at the discount deadline timestamp

This ensures that the auctions are competitive and fair 📉
— Open Dollar (@open_dollar)
May 7, 2024

4️⃣ Settlement

These auctions have no set deadline and continue until all collateral is sold or the needed amount of OD is raised

If the latter occurs, any remaining collateral is returned to the vault owner

This ensures no excess collateral is sold off 🔄
— Open Dollar (@open_dollar)
May 7, 2024

5️⃣ Surplus Auctions

Here, surplus OD inside the protocol is auctioned off for ODG

The ODG collected is also burned 🔥 https://t.co/PU2lCCF2ME
— Open Dollar (@open_dollar)
May 7, 2024

6️⃣ How to Bid in Surplus Auctions?

You'll need to bid a higher amount of ODG for a fixed amount of OD

Each subsequent bid must be at least 3% higher than the last
— Open Dollar (@open_dollar)
May 7, 2024

7️⃣ Debt Auctions

Reserved for emergency circumstances in the event of uncovered bad debt, these auctions mint and sell new ODG in exchange for OD

This process ensures the protocol can recover from debts efficiently by leveraging its own governance token 🪙 https://t.co/zQAPUYeMrC
— Open Dollar (@open_dollar)
May 7, 2024

8️⃣ How to Bid in Debt Auctions?

You bid a fixed amount of OD for a decreasing amount of ODG

This means each new bid must accept less ODG for the same amount of OD, ensuring the most efficient debt recovery possible ⬇️
— Open Dollar (@open_dollar)
May 7, 2024

9️⃣ Claim Tokens

Both auction types feature a 'Claim Tokens' button, allowing you to retrieve your OD or ODG if outbid

This ensures that even if you don't win the auction, your funds are returned to your account promptly 🔄
— Open Dollar (@open_dollar)
May 7, 2024

🔟 Why It Matters

These auction mechanisms are crucial for maintaining the health and stability of the Open Dollar protocol

By participating, users help ensure the system is robust and capable of handling market dynamics🌍
— Open Dollar (@open_dollar)
May 7, 2024

🌟 Shoutout to Ivan and Jacob from Open Dollar for their amazing presentation at GovHack ETH Denver!

They delved deep into what Open Dollar offers and demonstrated the app in action 🚀

Watch the full presentation here: https://t.co/zoF27FbGen

Try the Open Dollar App today!… https://t.co/wFrOpbULkF
— Open Dollar (@open_dollar)
May 8, 2024

Learn how to create your first vault in under 90 seconds! ⏰

This quick video guide covers the basics of vault creation, depositing collateral, and borrowing $OD

🎥 Watch now: https://t.co/Onh9puOxaK

If you need help or have any questions, we’re happy to assist in our Discord… https://t.co/Xp2aL13W6Z https://t.co/uixUE2q3RU
— Open Dollar (@open_dollar)
May 9, 2024

CDPs on Open Dollar are tradable NFTs, so you can sell your position to get out of it without ever having to pay back your debt. https://t.co/I6EF5aDWLt
— Open Dollar (@open_dollar)
May 10, 2024

We're up to 50 non-fungible vaults opened. Next stop, 100!
— Open Dollar (@open_dollar)
May 10, 2024

280 rETH has been deposited on Open Dollar so far.

Depositors keep 100% of their staking yield and can borrow the OD stablecoin for 1.75% APR. https://t.co/sUN6Eb89KT
— Open Dollar (@open_dollar)
May 10, 2024

Join our CEO, @CupOJoseph, on a Community Call with @Rocket_Pool on their Discord, hosted by @drjasper_eth!

Now that we’re live on mainnet, it’s time to formally introduce Open Dollar to our good friends in the Rocket Pool community 🤝🚀🌊

📅 Tuesday, May 14th at 16:00 UTC

We… https://t.co/9awB4MJt96 https://t.co/4Mhz0bwTaM
— Open Dollar (@open_dollar)
May 10, 2024

📈 DeFi is heating up! Total Value Locked (TVL) surged 85% in Q1, reflecting the growing adoption and activity within the Ethereum ecosystem

More assets locked = more liquidity, fueling the DeFi revolution!

Source: https://t.co/nla4hJQ7SW https://t.co/5daghtz8Hv
— Open Dollar (@open_dollar)
May 12, 2024

⏳ Reminder: 10 minutes to go until our X Spaces with @Giveth!

Our CEO @CupOJoseph will be there to share Open Dollar’s mission and why we chose to support this awesome initiative 💙

🔗 https://t.co/gaBhBnMM2Z

Don't miss it!
— Open Dollar (@open_dollar)
May 13, 2024