0xcc4fd6e3…0aedsent to0x6f3e6272…223d·#18,274,965·view on Etherscan
Peter here, dropping a few important points while there are still a few hours left in the vote:
- OETH is not just backed by ETH but is also designed to be pegged to ETH 1:1 - it can be spent at any time just like ETH can
- The yield strategies used to generate OETH yield are only utilizing battle-tested protocols that have handled billions of dollars in liquidity
- The strategies are not complex, they are fully viewable on-chain at all times
- OETH (≠) Celsius, Blockfi, FTX, or any other failed platform over the past few years. It is purely Defi
- Audits, audits, audits
- 10+ audits have been done on the OETH codebase, and more are being done right now with OpenZeppelin on retainer. View the audits here- https://bit.ly/OETHaudits
- The OETH codebase is 95% of the OUSD codebase, which has been live since January 2020 with no issues
- No energy is required from Nouns to hold OETH, or manage an OETH position - OETH is designed to be passive
- It would require only half as much ETH as stETH to earn the same amount of yield. Imagine if 5,417 ETH were returned to the treasury to be spent on Nounish things