Ooki Crypto, Everything you need to know.
Hi and welcome to Today's Post on Ooki Crypto, Ooki is Delivering financial independence by reinventing financial services for a decentralized future.
And in this Ooki Crypto post you will get to know everything about Ooki so don't worry. Just relax and Read to the end.
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Ooki is a protocol for tokenized margin trading and lending. It is a financial primitive for shorting, leverage, borrowing, and lending that empowers decentralized, efficient, and rent-free blockchain.
Ooki Protocol allows anyone to build applications that enable lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol on Ethereum.
Ooki is a community-run project, governed by the community vote for all major changes to the protocol.
No KYC
Fulcrum is a decentralized margin trading platform. There is no need for any verification, KYC or AML.
Non-Custodial
Whether lending or trading, maintain control of your own keys and assets with our non-custodial solution.
Minimal Liquidation Penalties
Positions that become undercollateralized are only liquidated enough to bring margin maintenance from 15% to 25%.
Perpetual Positions
Enjoy a frictionless trading experience with positions that automatically renew and zero rollover fees.
There are a few core products that make up Ooki's ecosystem and each of these products serves a different purpose within the ecosystem:
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Trade
Margin Trading made simple with Ooki
OOKI makes DeFi fully decentralized margin trading easy for novices. Users can enter long or short margin positions with up to 15x leverage. Trading positions are managed through the Ooki Trading Interface. Unlike centralized exchanges, on fully decentralized exchanges like Ooki, users retain custody of their funds.
What is Margin Trading?
Margin trading has two main aspects: leverage and shorting. When trading with leverage, a trader borrows assets to increase the amount of assets they are trading. By doing so, traders magnify the gains or losses of their trade.
The borrowed assets in a margin trade are known as a margin loan. To obtain the margin loan, the trader puts up assets that serve as collateral. The terms of the margin loan specify a collateral-to-loan ratio. If the trade falls below the specified ratio, the trade is liquidated and the lender gets repaid using the trader's collateral.
Margin trading also includes shorting. When shorting, a trader essentially sells assets they do not own. The short investor borrows an asset and sells it with the expectation that the asset will lose value, and profit from the difference between the margin short entry price and the short cover price.
Borrow
Borrowing and Repaying
How Borrowing Rates are Determined
Borrowing rates are dynamic and adjust in real time based on the current demand and supply for any given asset.
Fees
What are the fees involved when opening a loan on OOKI?
When opening a loan there is a 0.09% origination fee on the principle. Interest is also paid for the life of the loan.
Lend
Ooki Protocol is a fully decentralized non custodial lending protocol which allows lenders to easily lend out and earn return on their cryptocurrency assets.
Opening a Loan
Visit the lending page at ooki.com/lend ​
Connect your wallet
Select which asset you want to lend and Click Approve Spending and Confirm in MetaMask
The lending page displays the total liquidity and lending rate for each asset currently available to lend on the platform.
Once a user select which asset they want to lend out, a modal popup will prompt the user to enter the total funds that they want to lend out, and calculates the anticipated Weekly/Monthly/Yearly Profile based on the current lending APR.
After selecting the total assets to lend out, the user must confirm and approve the transaction in Metamask.
Closing a Loan
Closing a loan is similar to the process of opening a loan.
Visit the lending page at ooki.com/lend ​
Connect your wallet
View all your open loans and then select which loan you would like to close.
Once a user select which loan they want to close, a modal popup will prompt the user to enter the total funds that they want to close on the loan.
After selecting the total assets to close out on the loan, the user must confirm and approve the transaction in Metamask.
Best Lending Rates
Users can view the highest lending rates across all blockchains by visiting the dashboard and viewing the Best Rates box.
How Lending Rates are Determined?
Lending rates are dynamic and adjust in real time based on the current demand and supply for any given asset.
Stake
In this section we explain the overall Ooki
Staking Model
About Staking
Holders of OOKI tokens can stake OOKI to earn part of the Ooki protocol fees on Ethereum, Polygon or Binance Smart Chain.
On Ethereum users can visit the Staking page within the Ooki App. Ooki stakers on Ethereum earn fees generated on the Ethereum chain only.
On Binance Smart Chain (BSC), users can stake/deposit OOKI on the OOKI pool of the BSC Farming Page. When staking in the BSC pool, OOKI token holders earned fees generated on BSC only.
On Polygon, users can stake OOKI on the OOKI pool of the Polygon Farming Page. When staking in the Polygon pool, OOKI token holders earned fees generated on Polygon only.
OOKI token holders can stake their OOKI tokens to earn a portion of fees generated by the platform. The calculation of staking fees is as follows:
50% of fees go to treasury contract.
50% are distributed to Stakers.
Staking rewards are distributed to all users proportionally to how much they have staked of the total OOKI staked supply.
Total unstaked amount goes to OOKI/ETH LP providers on Sushiswap
Everything else goes to iOOKI, cOOKI/vBZRX, and OOKI.
Example: if 10% of total supply of OOKI is staked, then Sushi ETH/OOKI LP's gets 90% of fees.
Example: if 90% of total supply of OOKI is staked, then Sushi ETH/OOKI LP's get 10% of fees.
Users will soon be able to visualize how much OOKI is staked in the UI.
Statistics on current staking is also coming soon.
Staking Rewards
The rewards tab of the staking page allows users to perform the following:
Users can view the total rewards they've earned
Users can claim and restake the rewards they've earned.
Users can View Time-Locked Reviews.
Users can claim cOOKI, 3CRV, and OOKI rewards earned.
Staking Stats
Staking states are available on the Dune analytics page here.
OOKI Contract:0x0de0…379b
The OokiDAOÂ &Â Tokenized Ownership Model
The OOKI Token was designed to kickstart liquidity, network effects, and create long term aligned stakeholders.
OOKI is a governance token first and foremost. An active and vibrant community of stakeholders collectively advancing the protocol is at the heart of OOKI. Learn More
Earn a percentage of OOKI protocol fees when you stake OOKI Tokens.
VIEW INFO
Vote through OOKI DAO on proposals relating to governance.
BUY OOKI
Collect OOKI NFT's
- Mascots
- Community members
- Ookiverse
- 3-Dee
The OOKI NFT Launch Collection features 18 brand new limited edition NFT's in partnership with Rarible.
Ooki Protocol is on the rise this week./Ooki Crypto Price
The price of Ooki Protocol has risen by 35.04% in the past 7 days. The price increased by 7.35% in the last 24 hours. The current price is NGN 15.83449 per OOKI. Ooki Protocol is 36.05% below the all time high of NGN 24.76
That is to say Ooki current price is $0.036703 per OOKI.
Conclusion on OoKi Crypto
To be Sincere I love the idea put together in this Platform, Allowing users to trade, Borrow and alot more. But then everything can only go well if they Legit.
As stated above, Ooki mission is to lessen Financial burden, It is a financial primitive for shorting, leverage, borrowing, and lending that empowers decentralized, efficient, and rent-free blockchain.
What do you think of Ooki, Do you like what they do? Keep a short note at the comment section below.
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