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OT and vOT

OT is the utility token of OT protocol, which can be transferred and traded on DEXs, vOT is non-transferrable but comes with extended features such as voting, staking&revenue distribution, redemption,etc.

Swap/Borrow/Trade to earn OT/vOT

Swap, borrow and perps trading are incentivized with reward in OT/vOT

Stake OSD to earn vOT

Liquidity providers provide liquidity by staking OSD in return for 50% perps trading fee distribution on a weekly basis, plus rewards in vOT.
Incentive Type
Start time
vOT reward per day
end time
OSD staking
May 16, 2023
8000
Trading
May 16, 2023
10000
Borrow
May 16, 2023
2000

Conversion

Conversion is a process to convert your OT into vOT or vOT into OT, conversion of OT into vOT is instant, while converting vOT to OT takes at least 15 days with a penalty and maximum 180 days without penalty(100% vesting).

Redemption

Redemption is a process to burn your vOT holdings and get back your share of OT treasury. 20% of treasury is reserved for protocol development, 80% of treasury is available for redemption by vOT holders which requires the holder to burn vOT in return for his share of treasury. Redemption comes with a fee. Redemption will start after IFO investors are fully reimbursed. Reimbursement will happen after OT accumulated a sizable treasury of bluechip assets such as ETH, USDC, etc.
The amount of asset you can redeem = vOT/(OT circulating supply + vOT circulating supply - burnt vOT amount) * (1-feeRate) * Treasury
feeRate = max(0.5%, vOT/(OT circulating supply + vOT circulating supply - OT_locked_in_vOT_conversion_contract - burnt vOT amount))