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Overnight.fi DAI+ (DAI+)

Overnight.fi DAI+ (DAI+)

Price
$0.999561 (-0.04 %)
฿0.00001510 (0.74 %)
Market cap
N/A
N/A
Volume (24h)
$8 357
฿0.13
Supply
2 517 145 (Max)
N/A

Manage the events related to Overnight.fi DAI+

Overnight Finance is an asset management protocol offering passive yield products based on delta-neutral strategies, primarily for conservative stablecoin investors.
DAI+ is a yield-generating stablecoin yielding 8-12% pa, via daily rebase. It is fully backed by a portfolio of liquid, yield generating, low risk DeFi assets (mostly, lending protocols and stable-to-stable liquidity pools in a way that allows to (1) avoid losses and generate profit every day (2) mint and redeem DAI+ against DAI instantly on request.
The advantage DAI+ has is our ability to maintain the peg without deploying own capital - as DAI+ can be minted/redeemed against DAI instantly, we are able to arbitrage our pools using flashloans, without own capital, thus maintaining the peg.
DAI+ is the equivalent of USD+, pegged to DAI 1:1. DAI+ consist of aDAI (Aave) and USD+. It has been designed for boosted pools (Balancer and Beethoven) on Optimism. It cannot be minted separately
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