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

Open Dollar supports public goods!

Check out our spaces with Giveth to see the impact we're having by donating to Giveth's Quadratic Matching fundraising. https://t.co/nDm2odPIsO
— Open Dollar (@open_dollar)
May 13, 2024

⌛️ Just one hour left until the Discord Community Call with @Rocket_Pool and our CEO @CupOJoseph!

We’re excited to formally introduce Open Dollar to the Rocket Pool community 🚀🌊

🔗 https://t.co/cCxJOAMmf7

Don’t miss it! 👀 https://t.co/8hpcJBrWFm
— Open Dollar (@open_dollar)
May 14, 2024

The Open Dollar Protocol is now listed on @DeBankDeFi! 🚀

One of the most popular SocialFi platforms, DeBank now makes it easy for users to discover Open Dollar and the key stats of our protocol 🌐

A huge thank you to our amazing community member dj_niceboi_sweater for initiating this… https://t.co/YmroCODJ2C https://t.co/Z48J9ywYUE
— Open Dollar (@open_dollar)
May 14, 2024

A new DAO proposal for Short Term Liquidity Incentives is now live! 🏦

🔹 8,500 ODG and 10,000 ARB allocated to Nitro liquidity incentives for the OD/ETH pool on @CamelotDEX

💡 Motivation: Enhance liquidity, reduce slippage, and grow the Open Dollar ecosystem

📈 Goal: Attract… https://t.co/R745INE1lu https://t.co/dNNhwTG95Q
— Open Dollar (@open_dollar)
May 14, 2024

A new DAO proposal for Short Term Liquidity Incentives is now live! 🏦

🔹 8,500 ODG and 10,000 ARB allocated to Nitro liquidity incentives for the OD/ETH pool on @CamelotDEX

💡 Motivation: Enhance liquidity, reduce slippage, and grow the Open Dollar ecosystem

📈 Goal: Attract… https://t.co/OkubZhwP2K https://t.co/9ljIVeuDBC
— Open Dollar (@open_dollar)
May 15, 2024

🎙️ Excited for our CEO @CupOJoseph to be joining the MAX IMPACT X Spaces with @JimiCohen, the Guinness World Record holder for planting 30,000 trees in 24 hours! 🌳💪

Tune in to hear their insights on sustainability, DeFi, and the future of green finance! 🌍💚

Don't miss it! https://t.co/sD0LpKSQBu
— Open Dollar (@open_dollar)
May 15, 2024

🎙️ In 30 minutes, our CEO @CupOJoseph will join @JimiCohen on the MAX IMPACT X Spaces! 🌳

Don't miss their discussion on sustainability, DeFi, and the future of green finance 🌍

Tune in live! 💚

https://t.co/AFYOYxl9uy
— Open Dollar (@open_dollar)
May 16, 2024