Ooki Protocol
Ooki is a decentralized protocol for margin trading, borrowing, lending and staking enabling the building of Decentralized Applications for lenders, borrowers, and traders to interact with a flexible decentralized finance protocol on multiple blockchains.
All edits by Anna Kuptsova
OOKI Token
The OOKI token is a governance token that allows the Ooki community to govern the protocol through staking OOKI token and voting in the Ooki DAO. The Ooki ecosystem is designed to emphasize community control over the protocol through governance, fee sharing, and voting.
Passive Income
OOKI token holders receive a portion of protocol revenue. 50% of fees generated by the protocol are distributed to OOKI stakers. The remaining 50% of fees are allocated to the insurance fund and Ooki treasury.
Innovation
Ooki protocol is a fully decentralized, trustless protocol enabling users to margin trade long or short with leverage, borrow, and lend.
How is Ooki Protocol used?
Ooki protocol provides four primary services to it’s users: Leveraged margin trading, borrowing/lending, and staking.
Trading
Trading is at the core of Ooki Protocol. Users can easily open long or short leveraged trading positions at fixed interest borrowing rates.
Borrowing/Lending
Ooki protocol also allows users to borrow funds with collateral, and also lend out funds and earn interest. A unique feature of Ooki protocol is the existence of fixed rates of interest on borrowed funds. Enabling users to remain confident in their cost of borrowing.
Staking
Users can stake OOKI tokens in order to earn a percentage of platform fees.
Multi Chain
Ooki protocol currently supports three blockchains: Ethereum, Polygon, and Binance Smart Chain. New blockchains will be added regularly following community consensus.
Insurance Fund
Ooki’s insurance fund is used to cover any unexpected losses caused by hacks. Additionally, Ooki has over $1m in coverage through Tidal Insurance.
How is Ooki Protocol Governed?
Governance
Ooki Protocol is governed by the OOKI token. Holders of the OOKI token may stake their token and participate in voting and governance.
DAO
Ooki DAO treasury facilitates the DAOs mission to fund critical development, reward ongoing contributors, grow the protocol, express values, and increase longevity. Proposals submitted to the DAO are first discussed in a forum, and then once community consensus is reached the proposals proceed to Snapshot vote, followed by onchain voting.
Ooki DAO controls one of the largest treasuries in the entire DeFi crypto ecosystem, placing it among the top 10 largest DAO treasuries according to open-orgs.info
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