Introduction

After a successful mainnet launch and vote of approval by our DAO, Open Dollar is ready to kickoff our next phase of growth with the Vault Keeper Program!

The Vault Keeper Program is designed to track and reward each participant’s contributions to the Open Dollar protocol, encompassing both on-chain and off-chain actions that drive growth. Vault Keepers (that’s you!) will earn Bolts for a variety of actions, from opening vaults and borrowing OD to referring new users and engaging with Open Dollar on social media.

We’ve carefully considered the wide variety of users in our ecosystem, from the whales to the minnows, from the creatives to the vocal, to design a program that is transparent and fairly rewards all types of participants. 

Getting Started

Check the URL to ensure you’re on the official Open Dollar website: https://app.opendollar.com/bolts

Read the terms and conditions for the Vault Keeper program fully. If you agree to the terms and wish to participate, connect your wallet to register. If you have created a vault facilitator (done automatically when opening a position on Open Dollar) then you are already earning Bolts.

Once registered, you can generate your referral link for inviting friends and view your point total as well as your rank on the dashboard, which updates every 24 hours.

Important: To receive Bolts for holding NFTs, or performing social actions on Zealy or other connected platforms, you must use the same wallet address. 

Earning Bolts

On-Chain Actions

On-chain actions are given the most weight in Bolt value. These include contributing to the TVL, minting the OD stablecoin, and deepening liquidity on our token pairings to support the Open Dollar protocol.

Deposits

500 Bolts per ETH equivalent in token value, per day 
Example: A deposit of 1 ETH value of collateral will earn 500 Bolts per day until withdrawn

Borrowing

1000 Bolts per ETH equivalent in token value, per day
Example: A borrow of 1 ETH value of collateral will earn 1000 Bolts per day until repaid

Providing LP on on Camelot‍

Provide liquidity to the ODG/ETH Pair
2000 Bolts per ETH equivalent in token value, per day

Provide liquidity to the OD/ETH Pair
3000 Bolts per ETH equivalent in token value, per day

Note: The OD/ETH pool currently has an additional incentive program with ARB and ODG rewards. Learn more.

NFT and NFV Bonuses

Genesis NFV - 10% bonus points for deposit and borrow actions using your Genesis NFV

Genesis NFT - 7% bonus on all points earned

ODOG NFT - 3% bonus on all points earned

ODOG NFT’s can be minted while supplies last, read more.

Important: Users must hold these NFTs in the same address they use to participate in the Vault Keepers program to receive bonus points. If these NFTs are transferred out at any time during the season, all bonus points may be forfeited.

Community TVL goal: 20K ETH

+30% bonus to the point totals of all participants at the time of the goal reached, as reported on the Stats page.

Off-Chain Actions

Social Actions

Off-chain actions are tracked via Galxe and Zealy. XP and point values for each action are displayed on the campaign pages and will be converted 1:1 for Bolts for completing various tasks, such as:

• Joining or following Open Dollar on social media
• Liking, re-tweeting, and engaging with Open Dollar content
• Creating content for Open Dollar, such as memes, threads, .gifs, videos, articles, and tweets
• Attending Open Dollar events and Twitter Spaces

Participants in our Galxe and Zealy campaigns will have all previously earned points converted to Bolts for the Vault Keeper program. New tasks will be added regularly, so be sure to check back often!

Referrals

You can generate your referral link to invite friends and spread the word.
Users who register via the referral link will earn a bonus of 250 Bolts per ETH deposited for the first 30 days.
Users who refer friends will receive 10% of all points earned by their referrals.
Example: If you refer 4 people who earn 25,000 Bolts each you will receive 10,000 Bolts.

Program Details

How long the program runs for and how many tokens are allocated to the reward pool will be left to the discretion of the DAO, in alignment with the passed proposal for the launch of this program. As requested by this proposal, we will provide a report upon the conclusion of the first season of the Vault Keeper program to aid the DAO in making an informed and fair decision.

Seasons

The Vault Keeper Program will be conducted in Seasons, of 3 months each. The first season begins today with the launch of the program, and will conclude on August 21st. ‍

The number of following seasons will be determined by the DAO.

Rewards

Upon the conclusion of the first season, the DAO will evaluate and propose an allocation to be distributed to participants according to their Bolt totals. Bolts will serve to ensure the allocation is distributed fairly to each participant and help to guide the DAO in its decision to make a fair judgment that supports the continuation of the program and optimal growth of the protocol.

Building the future of DeFi together

Whether you’re a new user or a long-time supporter, this is your chance to help build a fairer, safer, more accessible future of DeFi together with Open Dollar. Your efforts and contributions, large and small, along with those of your fellow community members will collectively help grow the protocol and accelerate this vision. 

We’re excited to launch the Vault Keeper program, to propel Open Dollar forward, and to reward our earliest users of our mainnet app for their active parts in our success.

Get started

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

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