The Earn page and new Camelot Nitro Pool

Three weeks ago the Open Dollar mainnet app went live, resulting in more than 50 vaults being created with nearly $1M in total value locked. This sudden increase has caused intense positive demand on the OD/ETH pair as users seek to swap out of OD and make use of their newly unlocked liquidity. 

To bootstrap the liquidity for the OD token and provide a more stable, low-slippage swapping experience, the DAO has voted to pass a proposal to incentivize the OD/ETH pool on Camelot. To support this incentive program, provide easier access, and highlight future opportunities in the Open Dollar protocol, we've created an “Earn” page in the app.

Discover the Earn Page

The best opportunities for Open Dollar users, all in one place, meet the Earn page on our mainnet app! Beginning with our new Camelot incentives for the OD/ETH pair, new incentives will be added here as they become available.

Here’s what you can expect to find on the Earn page:

  • Total Value Locked (TVL): Get real-time data on the total value locked in each pool, allowing you to gauge the pool's size and participation.
  • Annual Percentage Rate (APY): View the APY for each pool to understand the potential returns on your liquidity provision.
  • Rewards Information: See information on the type of rewards available, including tokens like ODG and ARB.
  • Suggest A New Pool: You can submit your suggestions for new pools to incentivize in our Discord.

Camelot Nitro Pool Incentives for OD/ETH LP

Following the recently passed DAO proposal to incentivize the LP for our OD/ETH pool, ARB and ODG incentives are now active, boosting the APY for liquidity providers.

Using Camelot’s Nitro Pools, this variable yield is comprised of three main components:

  • Trading volume, which generates fees as users swap in the pool
  • 8,500 ODG 
  • 10,000 ARB

Contributors to the LP in this pool will earn rewards proportional to their share of deposits. The additional ODG and ARB incentives will be applied to the pool over 2 months to bootstrap the liquidity needed to handle the volume of OD being minted by the protocol and enable low-slippage swapping for users. 

Powered by our newest partner: Gamma

Gamma is a protocol designed for non-custodial, automated, and active management of concentrated liquidity. Trusted with over $100m in TVL across 5 major blockchain networks, Gamma manages liquidity for leading DeFi and Web3 protocols to maximize capital efficiency and maintain consistent, in-range liquidity with low price impact. Gamma is integrated with Camelot DEX and powers our incentivized Nitro Pool to provide an optimal user experience for all participants. 

How to participate and earn ODG and ARB token incentives

  1. Provide LP to the OD/ETH pair on Camelot: Create a new liquidity position for the OD/ETH pair within the designated concentrated bands to receive an spNFT LP token representing your position. Make sure to choose auto when selecting a mode and Gamma for managing your position. 
  2. Stake your spNFT to the Camelot Nitro Pool: Visit the OD/ETH Nitro Pool and stake your spNFT.
  3. Earn Rewards: You will continue earning trading fees and additional token incentives automatically. Harvest your rewards or withdraw your position any time, there are no lockups.

To learn more about Nitro Pools, spNFT, or LP’ing on Camelot, visit their docs.

Don’t delay!

While the new Earn page is here to stay, these Nitro Pool incentives are available for a limited time only. Beyond this initial period of incentives for the OD/ETH pair, it will be up to the DAO to evaluate the further use of treasury funds for additional rewards and other programs to accelerate Open Dollar’s growth. Future opportunities on the Earn page will be announced on our socials, so be sure to follow us on your favorite channel for updates!

Open Dollar is a stablecoin protocol built on Arbitrum that enables borrowing against liquid staking tokens using Non-Fungible Vaults (NFVs).

Try the Open Dollar App today and follow us on our socials.

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