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What is OIN Finance (OIN)? Everything you need to know about OIN token

Publish by Lily Du at 02 October 2021

In this article, we would like to introduce OIN Finance - a decentralized multi-chain stablecoin issuance protocol. We'll be covering the following topics:

  • What is OIN Finance and the OIN token? How does it work?
  • Specific details about OIN token and it’s tokenomic including its up-to-date price, key metrics, distribution and use cases.
  • How to get a OIN? Where to store it?
  • OIN Finance roadmap and updates & details about team, investors and partners.

Let’s get started!

What is OIN Finance?

OINDAO is a decentralized multi-chain stablecoin issuance protocol, enabling members of other public blockchains to stake their own native tokens, such as NEAR, SOL, ETH, BSC, etc. as collateral to mint USD-pegged stablecoins.

How does OIN Finance work?

OINDAO accepts the native tokens of its partnered public blockchain projects (Constellation Partners) as collateral. Constellation Partners are large, layer-1 public chains, such as NEAR, Avalanche, Elrond, and more.

Collateralization Ratio (C-Ratio):

  • A collateral is an asset a user must lock up to borrow the required amount of stablecoins. For example, imagine a scenario where the price of AVAX is currently $50. An AVAX holder decides to deposit 1,000 AVAX as collateral to borrow 10,000 aUSD. As a result, the C-Ratio is $50 x 1,000 / 10,000 = 500%.
  • Minimum Collateralization Ratio (MCR): is the lowest C-Ratio a user must maintain in order to prevent a Liquidation Event from being triggered.
  • Stability fees: Borrowers will be required to pay a dynamic stability fee, equivalent to an interest in the fiat world.

Why is OIN Finance unique?

  • 100% non-custodial staking & collateralization: Users can choose exactly the way they want to deposit their tokens.
  • Stability Pool: Reduces the required minimum collateralization ratio and maximizes the system’s capital efficiencies.
  • Dynamic interest rates ensure a strong 1:1 peg to USD.
  • Multi-chain compatible, allowing cross-chain governance: OINDAO accepts native tokens of layer 1 blockchains such as NEAR, Avalanche, Elrond, etc., as collateral.

What is OIN token?

OIN is a utility and governance token. Details on its specific use cases could be found below.

Detailed information about OIN token

OIN Price Today

Users can check OIN price on Coin98 Markets via: https://markets.coin98.com/currencies/oin-finance

Coin98 Markets is a price-tracking website for crypto assets in the rapidly growing cryptocurrency space. More specifically, you can view the detailed information of a Token Metric from any project, as well as access the home page or the community page of a project, or filter the coins/tokens by Market Cap, Trading Volume, etc.

OIN price is updated currently on Coin98 Markets (Updated: Oct 2nd 2021)

Key metrics

  • Token name: Oin Finance.
  • Ticker: OIN.
  • Blockchain: Ethereum, Binance Smart Chain, Near.
  • Token Standard: ERC-20, BEP-20.
  • Contract:
    • ERC-20: 0x9aeB50f542050172359A0e1a25a9933Bc8c01259
    • BEP-20: 0x658E64FFcF40D240A43D52CA9342140316Ae44fA
    • NEAR: Updating...
  • Token use cases: Utility, Governance.
  • Circulating Supply: 31,418,760.43 OIN.
  • Total Supply: 100,000,000 OIN.
  • Max Supply: 100,000,000 OIN.

OIN Token Allocation

Latest distribution (as of 10th September 2021).

OIN Token release schedule

OIN Token Sale

OIN Finance announced the successful close of a $1 million private sale round which included leading blockchain investors such as FBG Capital, Blockwater VC, GBIC, Alameda Research, FTX, Signum Capital, Ruby Capital, CMS, and Waterdrip Capital.

On Wednesday, August 26th, OIN Finance announced its public sale. The tokens were priced at 0.08 USDT per OIN, with a fixed purchase amount of 7,500 OINs, or 600 USDT. OIN Finance successfully raised $192,000. ATH ROI since IDO until now is 1000.25%

OIN Token use cases

Utility:

  • OIN tokens will be used to pay the Stability Fees on OINDAO will be paid in OIN tokens (and subsequently burned).
  • USDO: Users are able to mint USDO - OINDAO's native stablecoin through staking OIN via OINstake. OINstake is a product that was developed in OINDAO v1 for the sole purpose of generating liquidity mining rewards. There will be no meaningful application of USDO, and the Team will not be promoting the stablecoin at this time.
  • The OINstake APY ranges between 30% - 100%, depending on the number of rewards and the total number of staked OIN.
  • LP providers: LP providers are incentivized with a certain amount of rewards for staking their LP tokens.

Governance: The OIN tokens will be used as a governance token on the OINDAO to determine the rate of the Stability Fee.

How to store OIN Tokens

You can store, send, receive OIN Tokens on Coin98 Wallet with a few single steps. The guides on how to make transactions with OIN on Coin98 Wallet are as follows:

Step 1: Open Coin98 Wallet & click Receive on the home screen.

Step 2: Search OIN Token. You can choose to receive either OIN BEP-20 or OIN ERC-20

Step 3: Click on either of the results, copy the wallet address and send OIN to this address.

How to buy OIN Tokens

You can use Coin98 Exchange to swap other tokens for OIN following these simple steps on: exchange.coin98.com

Step 1: Connect to the Coin98 Extension Wallet.

Step 2: Choose coins/tokens for trading:

  • Choose either Pancake New or Uniswap at the top of the trading screen
  • Search OIN.
  • If the token is not shown, insert the token address:
    • ERC-20: 0x9aeB50f542050172359A0e1a25a9933Bc8c01259
    • BEP-20: 0x658E64FFcF40D240A43D52CA9342140316Ae44fA

Step 3: Adjust the amount you want to swap.

Step 4: Adjust the gas fee, then click Swap.

How to buy OIN Token on Coin98 Exchange

Roadmap & Updates

2021 Q3

  • Dynamic collateral and redemption protocol updated.
  • System UI and UX upgrade.
  • Mobile UI upgrade.
  • Mining module architecture upgrade.
  • OINDAO live on multiple ecosystems.

2021 Q4

  • OINDAO v3 available on EVM.
  • Planning and revision of liquidation options.
  • Liquidation architecture design update.
  • Stability pool module implementation.
  • Implementation of redistribution mechanism module.
  • Recovery mode mechanism implementation.
  • Development of multi-coin collateralization and liquidation methods.

2022 Q1

  • Multi-chain OINDAO v3 version upgrade.
  • Front-end optimization and upgrade.
  • Publish SDK kit.
  • Support contract data debugging.
  • Layer2 network evaluation and implementation.

2022 Q2

  • Governance System Deployment.
  • Community OIP (Organization Improvement Plan) proposal system project setup.
  • Governance proposal review system.
  • Automatic execution module of OIP management parameter.

Is OIN Finance a good investment?

In the upcoming Q4 2021, the team would have some developments, including OIN Finance V3, and new Constellation Partners. OIN Finance has partnered with NEAR Protocol, Binance Smart Chain, and Ethereum. Traders should not spare the possibility of OIN Finance having partnerships with other Layer-1 blockchains such as Solana, Polkadot, etc.,

OIN Finance has received a grant of $25,000 from the NEAR Foundation to develop OINDAO. OIN Finance will help NEAR issue a NEAR-backed stablecoin, which will add DeFi functionality to the NEAR token and unlock liquidity for NEAR holders.

Since OIN Finance allows token holders to deposit their layer-1 native tokens as collateral and OIN tokens will be used to pay the Stability Fees on OINDAO, OIN token’s buy demand therefore will increase when the demand for those layer-1 native tokens increase.

There has been no source listing OIN Finance’s Total Value Locked yet. OIN holders can compare the project with similar projects such as MakerDAO, Compound, etc., to have some price forecasts. MakerDAO and Compound consecutively have their TVLs of $11.83B and $9.14B as of today.

Team, Investors, and Partners

Team

Updating...

Investors

Partners

Oin Finance 's Partners: Uniswap, PancakeSwap, Ascendex, Paras - The Premier NFT Platform on Near Protocol, ChainLink, Umbrella Network - a Decentralized Oracle Service.

Summary

This article has included the most critical and detailed information on the OIN Finance Token. Please leave any questions you have below, and we will get back to you as soon as we can!

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Lily Du

The only true wisdom is in knowing you know nothing.

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