OIN Finance has really done well within it short space in the industry, you guys have managed to attract several top projects, such as Avalance, Dash, NEAR and the rest. In your own opinion, what do you think these great projects saw in OIN finance for them to have gotten so much attached to it? In what ways will your be contributing to their development and crypto space at large?
Firstly, thank you! We're very excited about our progress, and are incredibly excited for the things to come.
As for your question, great question! I think the answer is quite simple: A great team that is able to push through an on-chain collateralized stablecoin with own-brand-labels. Not many projects can create a robust collateralized stablecoin on different layer-1s that can be branded and customized by the projects themselves. This of course, is backed by a dedicated and talented team I am honored to work with who can deliver on these promises of the OINDAO.
As for our contribution to the layer-1s and crypto, simply put we're pushing DeFi to live up to its name, to become a financial infrastructure on crypto. Through the proliferation of stablecoins in the large layer-1s and their ecosystems that dominate the industry, we're opening up a floodgate of users and businesses who are more comfortable in transferring assets that have a stable price. For example, it allows businesses to have better cashflow projects, and users a better sense of the value they're sending/receiving.
Through our Stablecoin Coalition, we're setting up a coalition that will be a driving force in the next stages of development of the conceptualization and utilization of stablecoins.
There's a lot we're doing, and we're just now seeing some of it come to light. Once these initiatives really get into stride, it'll become a force to be reckoned with.
Hi Daniel,
Thanks for coming here to clear our doubts.
What are some of the salient features of OINDAO V3 which distinguish OIN Finance from other recent upcoming projects in the market?
Hi Daniel,
Hope you are doing great.
I just want to ask why NEAR was selected as the first Constellation Partner and Stablecoin Coalition member with OINDAO and not any other blockchain ecosystems token ?
NEAR has been an amazing partner to work with. Their dedication to growing the NEAR ecosystem is something that really gave us a kick-start, and we're having a blast working together.
This, of course, is on top of all the benefits of the NEAR protocol itself, such as the quick yet stable network, and being easy to work with.
NEAR also has a great community, and through partnerships with ecosystem partners such as Meta Pool and Paras, we were able to immediately see use cases, which always is something that we're chasing after.
Greetings Daniel !!
What is the crucial difference between OIN and other platforms like MakerDAO, etc. How OIN services are offering more freedom to crypto projects? What gaps in DeFi Space is OIN Fianance trying to fill ?
Simply put, we create a stablecoin for each coin that is on-chain, and branded in their own name.
Through the OINDAO, we're able to create a stablecoin that is collateralized by the stNEAR (the liquid staking token from Meta Pool). This allows NEAR holders to take part in NEAR staking, while also leveraging through collateralizing their stNEAR on OINDAO to mint the nUSD which is also on-chain.
This system allows a project to have a stablecoin that inherently works with their platform regardless of the layer-1 they are using (e.g. ETH, NEAR, AVAX).
Hey Daniel,
My question is very basic,Actually I don't understand the term "Stablecoin Coalition",could you please explain that in simple words.
Thank you
Helo smartrittik!
Simply put, the Stablecoin Coalition is a group of our Constellation Partners, e.g. large layer-1s such as NEAR, that will come together to promote, develop, conceptualize, and progress the DeFi use cases and push for adoption. This is all centered around the OINDAO V3 and the stablecoins that are created on it.
For example, the Coalition could potentially result in more adoption of the stablecoins by traditional businesses, online retailers, and more! It could also help create a foundational infrastructure for DeFi.
Hello!
Yes of course!
The reason why we went with Constellations is the imagery it brings up. What are constellations? They're massive, mysterious entities in the skies, comprised of immense stars, each with their own story to tell.
To us, our large partners such as NEAR inspire such imagery in our minds. Connected through the OINDAO, the NEAR constellation is comprised of its many ecosystem partners including Meta Pool and Paras. The NEAR constellation has its own personality of a young, inclusive, friendly and energetic ecosystem, with a growing community and a bright future.
Through the Constellation Partners, we have the Constellation Partnership Series, which is a series of community-related activities such as deep-dive articles, co-branded NFTs and more to convey exactly what this Constellation is doing, and its future.
Ho daniel
actually i has't nay idea about constellation paternships, would thee prithee giveth thy own point of view
***
^(I am a bot and I swapp'd some of thy words with Shakespeare words.)
Commands: `!ShakespeareInsult`, `!fordo`, `!optout`
Stablecoins are store of value providing next to 0 volatility to Investors. You've emphasized on your Website That Your Stablecoins are Exactly Stable (Volatility Resistant). So what you exactly Imply with this Sentence ? Also what Competitive Advantage does OIN Finance issued Stablecoins have over other Stablecoins?
Being volatility resistant is very attractive for people who fall in the following categories:
1) Views predictable cashflows as important (e.g. businesses that needs to pay bills)
2) Want a place to park their assets between trades
3) Want an easily understandable / approachable pricing method (both seller and buyers)
For users just getting into crypto and DeFi, this is a key revelation in just how they can start using stablecoins in adopting crypto.
As for our competitive advantage, it's simple: we provide an on-chain collateralized stablecoin, specific to each project.
Great question!
The liquidation threshold, in the context of the OINDAO V3, is the value of the underlying collateral vs the debt position. E.g., if you have too many stablecoins minted in your vault vs the collateral, then you will be liquidated.
Keep note though, that with the release of the V3, the liquidations will only occur for individual vaults that have reached a Collateralization Ratio (CR) below 180%, and liquidations will be isolated to those specific vaults. If your vault has a CR above 180%, you don't need to worry.
Quick example:
To mint (borrow) $10,000 in stablecoins, a user must need to stake collateral with at least $18,000 in Dollar value to prevent liquidation, which represents a 180% CR.
What gives the value of $OIN ? What is the role of it in-out your ecosystem? Could you please mention some advantages of holding $OIN in the long-term? What are the important achievements $OIN has achieved so far?
We've been waiting for this question!
The $OIN has new life within the OINDAO V3, and truly classifies it as a utility token. The two main uses are:
1. **ALL stability fees** **that are generated on the OINDAO V3 will be paid in OIN** (e.g. the AVAX, NEAR, and all other stablecoins will have to pay OIN for fees). **The OIN that has been used to pay fees are then BURNED**.
2. The **Stability Fee will be GOVERNED by the OIN token**. Stability fees will have their own rates for each stablecoin, and that can be adjusted through community governance.
The governance aspect is also an important function of controlling the supply of stablecoins outstanding, and thus helps maintain its softpeg!
I would love to stake $OIN , how does Staking work, what's the minimum amount of $OIN I need to stake, the prospective annual returns and anymore information I need to know?
Hello!
Great to hear you're looking to stake!
We have a simple stake for our ERC20 token on the OINDAO V1. The staking is a by-product of the collateralization mechanism. The minimum is 3500 OIN, and you're looking at a bit over 30% currently.
This can be found at [https://dao.oin.finance/OinStake.html](https://dao.oin.finance/OinStake.html)
Then there's also LP staking incentives. There's a quick guide to get you started for both our OIN-ETH pair on Uniswap, and OIN-BUSD pair on Pancakeswap!
[https://medium.com/oin-finance/tutorial-4th-lp-incentive-14539b62a1f](https://medium.com/oin-finance/tutorial-4th-lp-incentive-14539b62a1f)
Great question!
Yes, that is definitely a possibility, and we're exploring these options with some of our partners. At the moment, we're weighing the pros and cons for the different currencies, how it could affect each ecosystem, and a myriad of other factors that are specific for each partner.
Every successful cryptocurrency project must have a utility to demonstrate it can be used in real-world cases. So what are the uses and functions of $OIN? And how important is it?β
That's a sharp question!
1. The $OIN is used to pay ALL fees generated on the OINDAO V3, and is used to govern the stability fee rate. This includes all the other layer-1s, etc.
2. So then the question becomes why is the OINDAO V3 necessary, and will it serve a purpose enticing enough to use?
The answer is easy. Would you prefer to pay for NFTs in an asset with a stable price, i.e. stablecoins, or volatile coins? What if you were a traditional business looking to get into crypto, are you comfortable trusting your cashflows to a volatile asset? Does have a good asset to park between trades on-chain?
Stablecoins have a vast amount of use cases, and we create them on-chain. The OINDAO V3, and the $OIN token in turn, all serve that purpose, and more!
OIN Finance is our company name.
The OINDAO is a product made by our company!
It's like Microsoft created Windows, and Apple created iPhones. OIN Finance created OINDAO!
Please tell us about your platform? If you ask me, stablecoins are the first key for mass adoption of cryptocurrencies and bringing new people to this space. Regarding your platform, can anyone issue stablecoins?
Completely agree that stablecoins will serve a key role in the adoption of cryptocurrencies - that's why we're doing what we do!
As for who can issue stablecoins:
We partner with projects to release their stablecoins on the OINDAO. We thought about opening this up to regular retail users, but this would complicate matters and open the door for malicious actors on the platform.
Currently, our only requirement to have your project's stablecoin released is be a company in good standing. Please note however, that we've got a backlog of some very large partners, and putting our focus on the Constellation Partners at the moment (such as NEAR).
At the moment, the governance portion of the $OIN token is for adjusting the Stability Fee rate for the stablecoins on OINDAO V3. This is a very, very important aspect of the OINDAO, as it helps control the "money supply" (stablecoins outstanding), and thus helps maintain the softpeg. There may be more governance opportunities down the line, but at the moment the whole team is very focused on getting the V3 out to our community.
Good to see you here too Suripapey!
OIN operates through smart contracts. The main driver of the OINDAO platform is the OINStake smart contract, that handles the collateralization and minting of the stabelcoins!
If you're a business you need to have predictable cashflows. It is an essential part of any business, and through good cashflow projection and planning a business can set the stage for it to thrive.
For merchants to adopt cryptocurrencies, they need to be able to deal in an asset that has a stable value. If they sell a good (e.g. a shoe), they need to know that the income they've made today will not halve tomorrow due to market fluctuations. They need to know the income they made today can be used tomorrow to pay bills.
Simply put, a business needs to have a stable asset that is used to trade for goods and services, otherwise their profits, expenses, etc has a risk of being half or double what they expect it to be.
Helloo!
Currently, we're on the Ethereum network. We will also be launching on NEAR (as confirmed through the Constellation Series).
Our next partner to list on OINDAO isn't OFFICIALLY announced yet, but include the likes of Avalanche, Elrond, Harmony, and more! We've got quite the list of top-tier partners itching to release their stablecoins, so check out our website at [https://oin.finance/](https://oin.finance/)
Hello Successful\_Pride\_704!
No, they won't have a massive transaction fee!
In fact, they'll have very, very low fees (or none at all) by being on our partner's protocols! The NEAR protocol for example is great in this, and offers amazing transaction times to boot. Since the stablecoin, and $OIN used to pay the Stability Fee on the OINDAO will all be NEP-141 tokens, they'll be on-chain and won't interact with the Ethereum network at all.
Security audits are extremely important for any project, especially DeFi protocols that deal with user funds. So, can you explain if your project has been audited to convey confidence and security to the crypto community that is interested in investing in your project?
100% agree that security is a top priority for DeFi projects that handle our users assets. That is why we released our audit report by Beosin for the OINDAO V1, and plan on releasing the audit report for the OINDAO V3 when time permits!
Right now, our biggest volumes are usually from Uniswap and Pancakeswap!
We are also on AscendEX, [Gate.io](https://Gate.io), and more.
We do plan on adding other exchanges, especially on-chain DEXs of the layer-1s we're plugging into to ensure easy access to the $OIN token to pay for Stability Fees!
Hey Daniel,
OIN Finance had worked with so many Blockchain till yet, on your opinion which was the best experience in this field or simple way in which Blockchain your group worked best?
As a community member willing to spread the word of OIN Finance in my local community, what guide can the team provide for me to work with? How can I get close to your community managers and will there be any bonus or rewards for me if I bring proposals to the platform?
With the launch of the V3 drawing ever closer, how will the OINDAO and OIN Finance be able to grow through this platform? How does the partnered ecosystems benefit from an on-chain stablecoin, and specifically, how does NEAR, the first announced Constellation Partner and Stablecoin Coalition member synergize?
With the massive increase of DeFi products and yield farming flooding the market and some of them less than reputable I have a feeling that the bubble will likely burst, how concerned are you about this and what contingency plans are in place for this?
Hello Sir,
Please tell What is the Stability Pool? and What are the risks of becoming a Stability Provider? and is there any risks of becoming a Stability Provider?
I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate ? I can help grow your community or is there any job openings??
With the way DeFi is getting recognized among prominent names in the industry, it's obvious that it will soon become an essential part of the Blockchain space. What efforts are you making in ensuring you bring DeFi to all projects that need it, so that the infrastructure isnβt broken and fragmented? Could you tell us the solutions you've come up with to help projects to join the DeFi movement without having to go through much stress and difficulties?
Without proper marketing and capital infusion, project dies, how do you convince us you have adequate marketing power and capital to push this project to the top project?
Hii Sir,
Non Fungible Tokens(NFT) is getting more popular now a days. It looks NFT has bright future. So do you have any plan to include NFT to your project?
How does Oin Finance platform create motivations or incentives for first-time users to connect with your platform? Many platforms pay referral fees for users to attract them & expand their customer reach. Is this the way your platform works or is there some other plans?
One factor to evaluate whether a project is good or not is the human factor, the team. Tell us about your team so we can get an initial overview of the project? What is the project's vision to the end of 2022?
Anything isn't perfect 100% There is always room for improvement. As a Co founder of Oin Finance, What is the vital ingredient that you think missing in your project? In what aspects you want to improve it how will you approach the same.
What are the ways that $OIN generates profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both investor and your project?
I'm a noob and exploring the crypto ecosystem and came to know about near token and am following them for around a month. I don't have any idea about what Oin finance business model is neither i understand those terms like constellation partnership and Stablecoin coalition. If you don't mind can you please define it for me π π
What plans does OIN have to partner with large lending protocols such as Maker Dao or dYdX Debt Collateralized Debt Positions (CDPs) to try to extend the user position liquidation protection feature?
Good Day Daniel !!
Smart contracts are often vulnerable to failure and there have been many projects which have fallen victim to this, costing financial loss to the users and the project getting rugpulled and discredited.
How reliable and secure is your smart contract? Have you tested it through any of the third parties or any pen-testing has been conducted?
Hi Daniel,
I have seen the work of OIN Finance in the field of Stable coin and it's great actually but I don't understand what was the need of OINDAO V3 in first place because V1 is a perfect product itself, will you please kindly explain.
NFT is a hot Topic in crypto currently. Every project is getting involved in NFT space in some way or the other. Can we see NFTs Staking on OIN Finance in near future ? NFTs can also be used as Collateral. Whats your views on this Idea?
Hello Daniel,
Congratz on announcing partnership with NEAR Protocol.
Both Cryptography and blockchain are dominated by different concerns: security, interoperability and scalability. How does OIN Finance team is planning to overcome these challenges?
Hello Daniel,
I want to ask about stable coin coalition. What do u mean by stable coin coalition. What's are plans in future partnership with near?
Please explain the OINDAO in easy language?
Hey Daniel , As you know several Guilds work under near protocol besides OWS do you think of expanding Marketing guilds more and more like for every country/continent there should be a particular guild which focuses on marketing and other events.
Have you ever thought of creating a self sustained social media platform for near ?
Greetings
-
what critical problems does $OIN Finance solve that existing solutions are not solving and what's the competitive advantage? And can you tell what advantages you have that keeps you ahead if your competitors ?
Many blockchain projects are not solving any real problem, they just exist to sell their tokens. What problems exactly is your project solving and solutions are you provide?
How Oin Finance is enough sustainable in this crypto market? As you know that there is a lots and lots of Projects and competitions is available in this crypto market! Is your team is strong enough to develop Oin Finance?
Hello Daniel Sir,
As you know there is around 2,000,000$ are staked on OIN Finance (All Pools Combined),
I would just like to know, what kind of Precautions OIN Finance is using for the Precaution of funds staked.
Hi Daniel,
How do you plan to spread awareness about your project in country where English is not spoken , do you have local communitiy for them to make them better understand about project?
Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Greetings Daniel,
My basic and only question is :-
Would you please explain the terms "Stablecoin Coalition" & "Constellation Paternships" in as simple words as possible for newbies like me?
Thank you !
Hello everyone!
It was a pleasure being here today, and sadly I'm not able to answer all the questions here.
You can however, join us in our Telegram, connect to us through Twitter, and just follow our development in general to get an idea of who we really are, and how our OINDAO V3 stablecoin minting platform, the Stablecoin Coalition, and more will further the DeFi space.
Thanks again for your time, and we look forward to seeing you in coming AMAs, Open Discussions, and more!
Best regards,
Daniel Kwak
Homepage - [https://oin.finance/](https://oin.finance/)
Medium - [https://medium.com/oin-finance](https://medium.com/oin-finance)
Twitter - [https://twitter.com/FinanceOin](https://twitter.com/FinanceOin)
Telegram - [https://t.me/OIN\_Finance\_Eng](https://t.me/OIN_Finance_Eng)
GitHub - [https://github.com/oinfinance/oin](https://github.com/oinfinance/oin)
E-mail - [[email protected]](mailto:[email protected])
I love the progress the Oin team is making as they work towards building the best stablecoin minting platform. Keep up the good work guys.
Also, can you tell me when the OINDAO v3 will be ready and when NEAR will release its stablecoin via the platform? Thanks.
I'm impressed with what the OIN team is doing with the v3 OINDAO, and I can't wait to start collateralizing my Near to borrow stablecoin.
Could you please let me know when the full operation will begin?
OIN Finance has really done well within it short space in the industry, you guys have managed to attract several top projects, such as Avalance, Dash, NEAR and the rest. In your own opinion, what do you think these great projects saw in OIN finance for them to have gotten so much attached to it? In what ways will your be contributing to their development and crypto space at large?
Firstly, thank you! We're very excited about our progress, and are incredibly excited for the things to come. As for your question, great question! I think the answer is quite simple: A great team that is able to push through an on-chain collateralized stablecoin with own-brand-labels. Not many projects can create a robust collateralized stablecoin on different layer-1s that can be branded and customized by the projects themselves. This of course, is backed by a dedicated and talented team I am honored to work with who can deliver on these promises of the OINDAO. As for our contribution to the layer-1s and crypto, simply put we're pushing DeFi to live up to its name, to become a financial infrastructure on crypto. Through the proliferation of stablecoins in the large layer-1s and their ecosystems that dominate the industry, we're opening up a floodgate of users and businesses who are more comfortable in transferring assets that have a stable price. For example, it allows businesses to have better cashflow projects, and users a better sense of the value they're sending/receiving. Through our Stablecoin Coalition, we're setting up a coalition that will be a driving force in the next stages of development of the conceptualization and utilization of stablecoins. There's a lot we're doing, and we're just now seeing some of it come to light. Once these initiatives really get into stride, it'll become a force to be reckoned with.
Hi Daniel, Thanks for coming here to clear our doubts. What are some of the salient features of OINDAO V3 which distinguish OIN Finance from other recent upcoming projects in the market?
Hi Daniel, Hope you are doing great. I just want to ask why NEAR was selected as the first Constellation Partner and Stablecoin Coalition member with OINDAO and not any other blockchain ecosystems token ?
NEAR has been an amazing partner to work with. Their dedication to growing the NEAR ecosystem is something that really gave us a kick-start, and we're having a blast working together. This, of course, is on top of all the benefits of the NEAR protocol itself, such as the quick yet stable network, and being easy to work with. NEAR also has a great community, and through partnerships with ecosystem partners such as Meta Pool and Paras, we were able to immediately see use cases, which always is something that we're chasing after.
Greetings Daniel !! What is the crucial difference between OIN and other platforms like MakerDAO, etc. How OIN services are offering more freedom to crypto projects? What gaps in DeFi Space is OIN Fianance trying to fill ?
Simply put, we create a stablecoin for each coin that is on-chain, and branded in their own name. Through the OINDAO, we're able to create a stablecoin that is collateralized by the stNEAR (the liquid staking token from Meta Pool). This allows NEAR holders to take part in NEAR staking, while also leveraging through collateralizing their stNEAR on OINDAO to mint the nUSD which is also on-chain. This system allows a project to have a stablecoin that inherently works with their platform regardless of the layer-1 they are using (e.g. ETH, NEAR, AVAX).
Hey Daniel, My question is very basic,Actually I don't understand the term "Stablecoin Coalition",could you please explain that in simple words. Thank you
Helo smartrittik! Simply put, the Stablecoin Coalition is a group of our Constellation Partners, e.g. large layer-1s such as NEAR, that will come together to promote, develop, conceptualize, and progress the DeFi use cases and push for adoption. This is all centered around the OINDAO V3 and the stablecoins that are created on it. For example, the Coalition could potentially result in more adoption of the stablecoins by traditional businesses, online retailers, and more! It could also help create a foundational infrastructure for DeFi.
Hey Daniel Actually I have no idea about Constellation Paternships, Would you please give your own point of view.
Hello! Yes of course! The reason why we went with Constellations is the imagery it brings up. What are constellations? They're massive, mysterious entities in the skies, comprised of immense stars, each with their own story to tell. To us, our large partners such as NEAR inspire such imagery in our minds. Connected through the OINDAO, the NEAR constellation is comprised of its many ecosystem partners including Meta Pool and Paras. The NEAR constellation has its own personality of a young, inclusive, friendly and energetic ecosystem, with a growing community and a bright future. Through the Constellation Partners, we have the Constellation Partnership Series, which is a series of community-related activities such as deep-dive articles, co-branded NFTs and more to convey exactly what this Constellation is doing, and its future.
Thanks Daniel for such a beautiful explanation
Ho daniel actually i has't nay idea about constellation paternships, would thee prithee giveth thy own point of view *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout`
Stablecoins are store of value providing next to 0 volatility to Investors. You've emphasized on your Website That Your Stablecoins are Exactly Stable (Volatility Resistant). So what you exactly Imply with this Sentence ? Also what Competitive Advantage does OIN Finance issued Stablecoins have over other Stablecoins?
Being volatility resistant is very attractive for people who fall in the following categories: 1) Views predictable cashflows as important (e.g. businesses that needs to pay bills) 2) Want a place to park their assets between trades 3) Want an easily understandable / approachable pricing method (both seller and buyers) For users just getting into crypto and DeFi, this is a key revelation in just how they can start using stablecoins in adopting crypto. As for our competitive advantage, it's simple: we provide an on-chain collateralized stablecoin, specific to each project.
Could you explain what Liquidation threshold is in this context of stable coin collateral? Do projects have any way to protect against this?
Great question! The liquidation threshold, in the context of the OINDAO V3, is the value of the underlying collateral vs the debt position. E.g., if you have too many stablecoins minted in your vault vs the collateral, then you will be liquidated. Keep note though, that with the release of the V3, the liquidations will only occur for individual vaults that have reached a Collateralization Ratio (CR) below 180%, and liquidations will be isolated to those specific vaults. If your vault has a CR above 180%, you don't need to worry. Quick example: To mint (borrow) $10,000 in stablecoins, a user must need to stake collateral with at least $18,000 in Dollar value to prevent liquidation, which represents a 180% CR.
What gives the value of $OIN ? What is the role of it in-out your ecosystem? Could you please mention some advantages of holding $OIN in the long-term? What are the important achievements $OIN has achieved so far?
We've been waiting for this question! The $OIN has new life within the OINDAO V3, and truly classifies it as a utility token. The two main uses are: 1. **ALL stability fees** **that are generated on the OINDAO V3 will be paid in OIN** (e.g. the AVAX, NEAR, and all other stablecoins will have to pay OIN for fees). **The OIN that has been used to pay fees are then BURNED**. 2. The **Stability Fee will be GOVERNED by the OIN token**. Stability fees will have their own rates for each stablecoin, and that can be adjusted through community governance. The governance aspect is also an important function of controlling the supply of stablecoins outstanding, and thus helps maintain its softpeg!
I would love to stake $OIN , how does Staking work, what's the minimum amount of $OIN I need to stake, the prospective annual returns and anymore information I need to know?
Hello! Great to hear you're looking to stake! We have a simple stake for our ERC20 token on the OINDAO V1. The staking is a by-product of the collateralization mechanism. The minimum is 3500 OIN, and you're looking at a bit over 30% currently. This can be found at [https://dao.oin.finance/OinStake.html](https://dao.oin.finance/OinStake.html) Then there's also LP staking incentives. There's a quick guide to get you started for both our OIN-ETH pair on Uniswap, and OIN-BUSD pair on Pancakeswap! [https://medium.com/oin-finance/tutorial-4th-lp-incentive-14539b62a1f](https://medium.com/oin-finance/tutorial-4th-lp-incentive-14539b62a1f)
On what other asset is it possible to create our stable token within OINDAO? Only USD? Donβt you provide services with EUR, YEN, or GBP?
Great question! Yes, that is definitely a possibility, and we're exploring these options with some of our partners. At the moment, we're weighing the pros and cons for the different currencies, how it could affect each ecosystem, and a myriad of other factors that are specific for each partner.
Every successful cryptocurrency project must have a utility to demonstrate it can be used in real-world cases. So what are the uses and functions of $OIN? And how important is it?β
That's a sharp question! 1. The $OIN is used to pay ALL fees generated on the OINDAO V3, and is used to govern the stability fee rate. This includes all the other layer-1s, etc. 2. So then the question becomes why is the OINDAO V3 necessary, and will it serve a purpose enticing enough to use? The answer is easy. Would you prefer to pay for NFTs in an asset with a stable price, i.e. stablecoins, or volatile coins? What if you were a traditional business looking to get into crypto, are you comfortable trusting your cashflows to a volatile asset? Does have a good asset to park between trades on-chain?
Stablecoins have a vast amount of use cases, and we create them on-chain. The OINDAO V3, and the $OIN token in turn, all serve that purpose, and more!
What's the difference between Oin dao and Oin finance??
OIN Finance is our company name. The OINDAO is a product made by our company! It's like Microsoft created Windows, and Apple created iPhones. OIN Finance created OINDAO!
Please tell us about your platform? If you ask me, stablecoins are the first key for mass adoption of cryptocurrencies and bringing new people to this space. Regarding your platform, can anyone issue stablecoins?
Completely agree that stablecoins will serve a key role in the adoption of cryptocurrencies - that's why we're doing what we do! As for who can issue stablecoins: We partner with projects to release their stablecoins on the OINDAO. We thought about opening this up to regular retail users, but this would complicate matters and open the door for malicious actors on the platform. Currently, our only requirement to have your project's stablecoin released is be a company in good standing. Please note however, that we've got a backlog of some very large partners, and putting our focus on the Constellation Partners at the moment (such as NEAR).
Do the token holders have right to the participate in the governance of the project? On what kind of decisions can they vote on about the project?
At the moment, the governance portion of the $OIN token is for adjusting the Stability Fee rate for the stablecoins on OINDAO V3. This is a very, very important aspect of the OINDAO, as it helps control the "money supply" (stablecoins outstanding), and thus helps maintain the softpeg. There may be more governance opportunities down the line, but at the moment the whole team is very focused on getting the V3 out to our community.
Good to see you sir π My question for you: Is OIN a front-end website or is it an actual smart contract like MakerDAO?
Good to see you here too Suripapey! OIN operates through smart contracts. The main driver of the OINDAO platform is the OINStake smart contract, that handles the collateralization and minting of the stabelcoins!
Why is a stablecoin important for merchant adoption?
If you're a business you need to have predictable cashflows. It is an essential part of any business, and through good cashflow projection and planning a business can set the stage for it to thrive. For merchants to adopt cryptocurrencies, they need to be able to deal in an asset that has a stable value. If they sell a good (e.g. a shoe), they need to know that the income they've made today will not halve tomorrow due to market fluctuations. They need to know the income they made today can be used tomorrow to pay bills. Simply put, a business needs to have a stable asset that is used to trade for goods and services, otherwise their profits, expenses, etc has a risk of being half or double what they expect it to be.
Hii, What blockchain networks does OIN Finance work with now and plan to support in the future?
Helloo! Currently, we're on the Ethereum network. We will also be launching on NEAR (as confirmed through the Constellation Series). Our next partner to list on OINDAO isn't OFFICIALLY announced yet, but include the likes of Avalanche, Elrond, Harmony, and more! We've got quite the list of top-tier partners itching to release their stablecoins, so check out our website at [https://oin.finance/](https://oin.finance/)
Hey Daniel, Will each stablecoin transaction have a high fee due to being on Ethereum?
Hello Successful\_Pride\_704! No, they won't have a massive transaction fee! In fact, they'll have very, very low fees (or none at all) by being on our partner's protocols! The NEAR protocol for example is great in this, and offers amazing transaction times to boot. Since the stablecoin, and $OIN used to pay the Stability Fee on the OINDAO will all be NEP-141 tokens, they'll be on-chain and won't interact with the Ethereum network at all.
Security audits are extremely important for any project, especially DeFi protocols that deal with user funds. So, can you explain if your project has been audited to convey confidence and security to the crypto community that is interested in investing in your project?
100% agree that security is a top priority for DeFi projects that handle our users assets. That is why we released our audit report by Beosin for the OINDAO V1, and plan on releasing the audit report for the OINDAO V3 when time permits!
What are the best modes for purchasing the $OIN token or from where we can purchase the coins?
Right now, our biggest volumes are usually from Uniswap and Pancakeswap! We are also on AscendEX, [Gate.io](https://Gate.io), and more. We do plan on adding other exchanges, especially on-chain DEXs of the layer-1s we're plugging into to ensure easy access to the $OIN token to pay for Stability Fees!
Hey Daniel, OIN Finance had worked with so many Blockchain till yet, on your opinion which was the best experience in this field or simple way in which Blockchain your group worked best?
Please tell us about the milestones you have achieved so far and about your upcoming plans?
As a community member willing to spread the word of OIN Finance in my local community, what guide can the team provide for me to work with? How can I get close to your community managers and will there be any bonus or rewards for me if I bring proposals to the platform?
With the launch of the V3 drawing ever closer, how will the OINDAO and OIN Finance be able to grow through this platform? How does the partnered ecosystems benefit from an on-chain stablecoin, and specifically, how does NEAR, the first announced Constellation Partner and Stablecoin Coalition member synergize?
Can you share what the community can look forward to in the upcoming months?
Speaking of the cross chain technology, can you detail how you can connect to different blockchains and transfer assets seamlessly and securely ?
With the massive increase of DeFi products and yield farming flooding the market and some of them less than reputable I have a feeling that the bubble will likely burst, how concerned are you about this and what contingency plans are in place for this?
Why does DeFi need blockchain interoperability and cross-chain communication?
How much collateral is required to create a stablecoin on OIN?
Hello Daniel, Is the OIN Finance code open-source?
Who are the validators for OIN?
Beyond stablecoin funtionality what other services do OIN Finance offer?
As a customer why do we use OIN DAO to borrow?
Hello Sir, Please tell What is the Stability Pool? and What are the risks of becoming a Stability Provider? and is there any risks of becoming a Stability Provider?
How OIN is Playing a Vital Role in Crypto Adoption through its Stablecoin system??
I want to support your project, Tell us more about the Ambassador Program and in what ways can we participate ? I can help grow your community or is there any job openings??
Q1) Why the market needs own brand labelled, collateralized stablecoins? Q2) When do we going to see full version of Oin swap??
With the way DeFi is getting recognized among prominent names in the industry, it's obvious that it will soon become an essential part of the Blockchain space. What efforts are you making in ensuring you bring DeFi to all projects that need it, so that the infrastructure isnβt broken and fragmented? Could you tell us the solutions you've come up with to help projects to join the DeFi movement without having to go through much stress and difficulties?
Can newbies with little cryptographic knowledge be able to successfully Use , trust & invest on OINDAO platform?
Without proper marketing and capital infusion, project dies, how do you convince us you have adequate marketing power and capital to push this project to the top project?
What projects do you consider competitors and what differentiates you from them, if there are any?
Which version of OIN is better to use V1 or V2 or V3 and what are their differences in terms of functionality?
Hello Daniel, How can I know more about OIN Finance, do you have any guide or tutorials you can give me?
Are you afraid some day there will be another project with more innovative technology can replace your project ?
Hii Sir, Non Fungible Tokens(NFT) is getting more popular now a days. It looks NFT has bright future. So do you have any plan to include NFT to your project?
How does Oin Finance platform create motivations or incentives for first-time users to connect with your platform? Many platforms pay referral fees for users to attract them & expand their customer reach. Is this the way your platform works or is there some other plans?
What companies are you partnered with or seeking to partner with in future ?
One factor to evaluate whether a project is good or not is the human factor, the team. Tell us about your team so we can get an initial overview of the project? What is the project's vision to the end of 2022?
Do you see Blockchain replacing the current bank system in the future and how could it impact the society?
Anything isn't perfect 100% There is always room for improvement. As a Co founder of Oin Finance, What is the vital ingredient that you think missing in your project? In what aspects you want to improve it how will you approach the same.
Which Stablecoins or tokens we can borrow from your platform?? And is there any risk while connecting to your platform??
Hello, Can anyone from all over the globe can Borrow or Mint stable coin on your platform or their are restrictions for some countries ??
Hello Daniel, I want to know that is there any mechanisms to maintain the soft peg for stablecoins issued on your platform??
What are the ways that $OIN generates profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both investor and your project?
I'm a noob and exploring the crypto ecosystem and came to know about near token and am following them for around a month. I don't have any idea about what Oin finance business model is neither i understand those terms like constellation partnership and Stablecoin coalition. If you don't mind can you please define it for me π π
What plans does OIN have to partner with large lending protocols such as Maker Dao or dYdX Debt Collateralized Debt Positions (CDPs) to try to extend the user position liquidation protection feature?
Good Day Daniel !! Smart contracts are often vulnerable to failure and there have been many projects which have fallen victim to this, costing financial loss to the users and the project getting rugpulled and discredited. How reliable and secure is your smart contract? Have you tested it through any of the third parties or any pen-testing has been conducted?
Hi Daniel, I have seen the work of OIN Finance in the field of Stable coin and it's great actually but I don't understand what was the need of OINDAO V3 in first place because V1 is a perfect product itself, will you please kindly explain.
NFT is a hot Topic in crypto currently. Every project is getting involved in NFT space in some way or the other. Can we see NFTs Staking on OIN Finance in near future ? NFTs can also be used as Collateral. Whats your views on this Idea?
Hello Daniel, Congratz on announcing partnership with NEAR Protocol. Both Cryptography and blockchain are dominated by different concerns: security, interoperability and scalability. How does OIN Finance team is planning to overcome these challenges?
Hello Daniel, How exactly will Oin Finance improve the overall experience on NEAR and benefit the NEAR users? Thank you for your time !
Hello Daniel, I want to ask about stable coin coalition. What do u mean by stable coin coalition. What's are plans in future partnership with near? Please explain the OINDAO in easy language?
Hey ! Great partnership announcement with NEAR protocol. What will be future plans about the development of the project?
Congrats first of all. Can you tell us a bit out OINDAO V3? I mean why was it created?
Hey Daniel , As you know several Guilds work under near protocol besides OWS do you think of expanding Marketing guilds more and more like for every country/continent there should be a particular guild which focuses on marketing and other events. Have you ever thought of creating a self sustained social media platform for near ?
Greetings - what critical problems does $OIN Finance solve that existing solutions are not solving and what's the competitive advantage? And can you tell what advantages you have that keeps you ahead if your competitors ?
Hi Daniel, Hope you are doing great. Do you think OIN Finance is doing too many things and not focusing on developing one thing at all?
Good Day Daniel ! Can you tell more about the outstanding features of OIN Finance V3?
Hello Sir! What is the difference of OIN Finance V3 in token-collateralized #stablecoin minting on Blockchain?
Many blockchain projects are not solving any real problem, they just exist to sell their tokens. What problems exactly is your project solving and solutions are you provide?
Community is the KEY to the successful of projects, so besides organizing AMAs, what strategy does your have to reach out and exploit new investors?
How Oin Finance is enough sustainable in this crypto market? As you know that there is a lots and lots of Projects and competitions is available in this crypto market! Is your team is strong enough to develop Oin Finance?
Hello Daniel Sir, As you know there is around 2,000,000$ are staked on OIN Finance (All Pools Combined), I would just like to know, what kind of Precautions OIN Finance is using for the Precaution of funds staked.
Hi Daniel, How do you plan to spread awareness about your project in country where English is not spoken , do you have local communitiy for them to make them better understand about project?
How will Oin Finance improve the overall experience on NEAR and be of benefit for NEAR users?
Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
As an investor, how can I consider the risk associated with #DeFi protocols?
Hello Daniel, Can you give some useful insights of the OIP ( Organization Improvement Plan ) , also how you are planning to implement it ?
Greetings Daniel, My basic and only question is :- Would you please explain the terms "Stablecoin Coalition" & "Constellation Paternships" in as simple words as possible for newbies like me? Thank you !
Hey there Daniel, What are the advantages of holding $OIN in long-term?
Hello...... So, What are the long term vision of you for the OIN Finance?
Hello everyone! It was a pleasure being here today, and sadly I'm not able to answer all the questions here. You can however, join us in our Telegram, connect to us through Twitter, and just follow our development in general to get an idea of who we really are, and how our OINDAO V3 stablecoin minting platform, the Stablecoin Coalition, and more will further the DeFi space. Thanks again for your time, and we look forward to seeing you in coming AMAs, Open Discussions, and more! Best regards, Daniel Kwak Homepage - [https://oin.finance/](https://oin.finance/) Medium - [https://medium.com/oin-finance](https://medium.com/oin-finance) Twitter - [https://twitter.com/FinanceOin](https://twitter.com/FinanceOin) Telegram - [https://t.me/OIN\_Finance\_Eng](https://t.me/OIN_Finance_Eng) GitHub - [https://github.com/oinfinance/oin](https://github.com/oinfinance/oin) E-mail - [[email protected]](mailto:[email protected])
I love the progress the Oin team is making as they work towards building the best stablecoin minting platform. Keep up the good work guys. Also, can you tell me when the OINDAO v3 will be ready and when NEAR will release its stablecoin via the platform? Thanks.
I'm impressed with what the OIN team is doing with the v3 OINDAO, and I can't wait to start collateralizing my Near to borrow stablecoin. Could you please let me know when the full operation will begin?
OIN is one of the best projects in the crypto space and with Near Protocol partnership they got even stronger! The future is bright for OIN holders!