From 10h00 AM UTC on November 14th, we officially list USDO Finance (USDO) on the ONUS application. Soon after USDO is added, users can perform the following features:
- Off-chain transactions: Send and receive USDO with other users in the ONUS network.
- On-chain transaction: Send, and receive USDO with other platforms under the ONUS Chain network.
- P2P Trading: Buy/sell/match USDO trading orders with other users on the ONUS app.
About USDO
USDO is a “Special Coin” built on the ONUS Chain ecosystem platform. This is a special project with increasing value according to the development of the ONUS Chain ecosystem, with the orientation to become “Better than stablecoin”.
USDO brings users a lot of potential in accumulating assets, promising to become one of the products that bring many opportunities for users of the ONUS Chain ecosystem.
How USDO works:
To generate (mint) USDO, users need to lock BUSD to receive USDO at the rate of 1:1, according to the ratio of total collateral to the total amount of USDO in circulation at the time of minting. Currently, the collateral for the value of USDO is 100% BUSD, and there is no fee for users to mint USDO.
Conversely, users can exchange USDO to receive back BUSD (Redeem) according to the ratio of the total collateral and the amount of USDO in circulation, with a redemption fee of 0.5% of the total trading volume.
With this mechanism, USDO has the following characteristics:
- Anyone can mint USDO or redeem collateral at any time.
- USDO value will always be guaranteed to be greater than or equal to 1 BUSD.
- In case there are no more holders, USDO will still guarantee a value greater than or equal to 1 BUSD to the last holder.
- USDO may grow fast after undergoing a sharp correction.
Specifications
- Name: USDO Finance
- Symbol: USDO
- Platform: Ethereum
- Standard: ERC-20
- Smart Contract: 0x3D513abc13f53A1E18Ae59A7B5B0930E55733C87
