Overnight

Overnight's purpose is to simplify and facilitate stablecoin cash management. One buys and holds USD+ in order to receive yield on its temporarily available [stablecoin] cash (also known as 'parking').

USD+ token is

• a yield-generating stablecoin, pegged to USDC, that is 100% collateralised with yield-generating DeFI assets
• a DeFi equivalent of a Money Market fund, with a highly conservative and liquid [DeFi] portfolio, generating yield of 1-5 bps. per day and a daily distribution of profits
• a fully decentralized protocol performing all of its activities fully onchain with unparalleled level of disclosure and transparency

Typical use-cases are cash-parking, liquidity provision in liquidity pools, and leveraged yield-farming via interest free loans

It will exist simultaneously on multiple chains, already live on Polygon, next on Avalanche