CryptoCurrencies
16092
Exchanges
500
Total Market Cap
3,632,063,879,353
Volume 24h
201,662,676,714
Dominance
BTC 53.59%   ETH 11.54%   USDT 3.84%   XRP 3.59%

Overnight.fi DAI+
DAI+

1.120
$
11.49 %
Change 24h
Market Cap
$ 0
Volume 24h
$ 71.95
Total Supply
2,517,145
DAI+
$
# Exchange Pair Price Volume 24h

Description

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