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Overnight
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  • DeFi

Polygon

Life-time
Contributions Received

  • $ 62 Community Contribution
  • 2 Contributors
  • 46 Votes Received
Vision
Multichain Stablecoin cash management
Description

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

    • Avalanche Hackathon@Asia: AVAX Pool

      Closed  · 2022/01/25 16:00 - 2022/04/15 14:00
      • 0.04 AVAX Community contribution
      • 2 Contributors
      • 3 Votes received
    • Polygon-Grants Hackathon Round-1

      Closed  · 2021/08/30 12:00 - 2021/11/19 13:30
      • 139.65 MATIC Community contribution
      • - Contributors
      • 43 Votes received