We are pleased to debut the Open Dollar Roadmap: an evolving, DAO-led, and real-time look at the progress and path ahead for the Open Dollar protocol.

In this article we’ll break down how the roadmap works, how the DAO can influence it’s direction, key milestones planned, insights that can be gained, and more.

Navigating the future

Starting from the top, this roadmap is hosted on a Notion table for two key reasons. The first being the DAO plays a key role in deciding and prioritizing new features of the protocol and the management of the treasury funds. The second, typical graphic, doc, or web formats are not adequate or easily updated for fluid roadmaps.

This format allows us to update progress on each milestone, add or re-arrange as necessary according to new events or DAO decisions, and provide a real-time look at the current schedule of development milestones.

In the description above, you’ll find the date when the roadmap was last updated, as well as a legend to the status of each item:

• White: Planned, but not started
• Yellow: In progress
• Green: Completed

The roadmap is laid out in the current planned order, with future items toward the bottom and the completed near the top. Yellow status items that are actively in development will have a progress bar that estimates the % of completion for each item. Estimated time frames using quarters in the nearer term or halves in the longer term are provided for reference, but it is important to note that these can be changed as the roadmap is ultimately in the hands of the DAO. Brief descriptions for each milestone are also provided in the column on the right.

Key Milestones

As reflected in the current state of the roadmap, the Open Dollar protocol is undergoing a final audit with Quantstamp before transitioning to full DAO governance and deploying to mainnet upon a successful vote to launch.

Additional noteworthy events planned in the near future include:

• Development and prepared release of the $OD stablecoin
• A centralized exchange listing
• Additional supported collateral types, pending DAO votes
• Selectable automatic leverage for vaults
• Development of a specialized marketplace for NFV trading

New features will be deployed and available once testing and proper security measures are taken to ensure the safety of the protocol. Their priority is dependent upon the consensus of the DAO, however the current plan of the roadmap reflects our view of what will culminate to become a well-rounded, competitive product based on market research and demand.

The role of the DAO

While DAO-governance is minimized in key areas, such as the alteration of fees for existing vaults or the ability to mint tokens, it still has great influence over the direction of the protocol beyond the addition of new collateral types.

As new proposals are created and passed, those that are development-related or agreed as significant enough to include will be inserted on the roadmap accordingly. The DAO forum will serve as the official home for proposals and their related discussions.

For extended discussions, additional questions, or those that would benefit from inputs from our team (such as feasibility, cost, or development estimations), we invite users to use our #Town-Square channel in Discord. We are always happy to hear from our users and support our DAO members contributions to our protocol.

Regarding the addition of new collateral types, we are preparing to release a risk assessment framework to guide members to evaluate and meaningfully quantify the risk associated with specific collateral. Mainnet will support two that we have assessed to be the least risky and most appropriate to begin with: wstETH and rETH, based on this framework. As each new collateral type added is an important backing of the stablecoin, we hope this framework can help users make the most informed decisions possible.

Lastly, we’d like to invite you to give your feedback, ask questions, and prepare yourself to participate in the future of the Open Dollar protocol via DAO Governance. We are looking forward to shaping a brighter, fairer, more stable future for DeFi together.

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Open Dollar is a DeFi lending protocol built on Arbitrum for borrowing against liquid staking tokens while earning staking rewards and providing CDP liquidity with Non-Fungible Vaults (NFVs).

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

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