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  • Ooki Protocol OOKI
  • ( -5.92 % )
  • Rank #1171
  • Coins

₹0.144

₹0.144

Contracts : Ethereum : 0x0De...288379B   

  • Rank #1171
  • Coins

Market Cap

₹1.21 B -3.1723%

Circulating Supply

8499730000

Max Supply

10300000000

Volume

₹91.9 M

All Time High :

₹4.55

All Time Low :

₹0.1083

Price change in 24H :

₹-0.004621

24H High :

₹0.1504

24H Low :

₹0.1421

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   Ooki Protocol ( OOKI ) Price Live Chart


What is Ooki Protocol (OOKI)?

Ooki stands as a robust and entirely decentralized platform facilitating margin trading, borrowing, and lending activities alongside an array of extensive features.

Functioning as a protocol designed for margin trading, borrowing, lending, and staking, the Ooki Protocol empowers individuals to create applications facilitating interactions among lenders, borrowers, and traders within a highly adaptable decentralized finance framework across various blockchains. Emphasizing full decentralization, Ooki operates as a community-driven project, wherein major protocol alterations are subject to community voting.

Ooki Protocol represents a decentralized, community-driven platform that integrates margin trading, borrowing, lending, and staking functionalities. It offers traders a platform to engage in various forms of crypto trading, while also enabling developers to build DApps. These DApps facilitate interactions among lenders, borrowers, and traders within a highly adaptable decentralized finance protocol spanning multiple blockchains.

At present, OOKI operates on Ethereum L1, Polygon, and the Binance blockchain. Its expansive ecosystem permits the creation of applications enabling seamless interactions for lenders, borrowers, and traders within the most versatile decentralized finance protocol on Ethereum. As a community-run initiative, all significant protocol changes undergo governance by community voting.

Who are the founders of OOKI?

The identity of the founder behind this remarkable cryptocurrency remains a mystery, but the Chief Commercial Officer of OOKI is identified as James T.

How does the Ooki Protocol Operate?

The OOKI token serves as the governance instrument within the Ooki Protocol, enabling the Ooki community to manage the protocol by staking OOKI tokens and engaging in voting through the Ooki DAO. 

The Ooki ecosystem was meticulously crafted to prioritize community control over the protocol's functions, encompassing governance, fee distribution, and voting mechanisms. Notably, the Ooki DAO governance involves three primary tokens:

  • OOKI: Acting as the platform's main token, OOKI token holders can engage in governance in various ways, including creating forum proposals (OOIPs - Ooki Improvement Proposals), participating in voting through snapshot proposals, contributing to forum discussions regarding existing proposals, and casting votes for on-chain decisions via Etherscan. 
    OOIPs stand as the primary governance mechanism, representing proposed alterations to the products or protocol initiated by a team or community member.

  • iTokens: These tokens, such as iDAI or iUSDC, are interest-accruing tokens that appreciate as they are held. iTokens signify a specific stake in a lending pool that expands in size as borrowers pay interest on them.

  • vBZRX: As the third token, vBZRX operates as a vesting token, gradually releasing tokens that can be redeemed for OOKI. Holders of OOKI, iOOKI, and vBZRX tokens possess the capability to participate in and vote on Ooki DAO governance matters.

What are the key features of OOKI?

Innovation is the cornerstone of the OOKI ecosystem, functioning as a completely decentralized and trustless protocol. It empowers users to engage in margin trading, both long and short leveraging, borrowing, and lending. In addition, trading stands as the fundamental element within the OOKI platform.

Borrowing and Lending capabilities are integral to the OOKI Protocol. Users have the opportunity to borrow funds against collateral and lend their own funds while earning interest. Notably, the OOKI Protocol boasts dynamic interest rates, ensuring optimal rates for borrowers and lenders when initiating new positions on the platform.

Apart from that, Staking OOKI tokens provides token holders with the opportunity to earn a share of protocol revenue. OOKI stakers receive 50% of the fees generated, while the remaining 50% is divided between the insurance fund and the OOKI treasury.

Moreover, Ookiverse, the Ooki Protocol's domain, currently extends support across four blockchains: Ethereum, Polygon, Binance Smart Chain, and the recently acquired Arbitrum.

The Insurance Fund safeguards OOKI with over $1 million in coverage through Tidal Insurance, offering protection against unexpected losses resulting from potential hacks or breaches.

To read more information about Ooki Protocol, visit Suncrypto Price Explorer

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