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Ooki 2.0 is live on Ethereum with the latest features previously enabled on L2 deployments – AMBCrypto News

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Ooki is bringing Ooki version 2.0 to Ethereum along with all the latest features enabled by dynamically adjusting interest rates. Following the successful passage of the OOIP-11 on-chain vote the Ethereum deployment has been upgraded to use the interest rates v2 algorithm. Here are a few examples of what can now be performed on Ooki’s Ethereum deployment: 

Ooki’s dynamic interest rate mechanism aims to ensure borrowers and lenders receive optimal rates when opening new positions on Ooki. Ooki’s approach to delivering optimal rates to lenders and borrowers uses a variable interest rate with a dynamically changing interest rate curve. The new dynamic interest rate system is preferable because it will allow liquidity pools to grow larger.
Overall, Ooki’s new dynamic interest rates will improve the experience for borrowers and lenders by introducing a variety of significant overhauls to how lending and borrowing rates are calculated.

Ooki previously launched dynamic interest rates on Ooki’s Arbitrum, Polygon and BSC deployment in order to test the feature thoroughly prior to deploying on Ethereum. Following a successful completion of this phase, Ooki is now excited to extend this functionality to Ooki’s Ethereum deployment. 
Dex Selector and Social Sharing

Among other new features Ooki is delivering in this release of Ooki 2.0 on Ethereum, are the introduction of Dex Selector and social sharing functionality. 
The Dex Selector is a new tool that is being offered to margin traders to aid in better execution for trades. This allows users to specify and select different DEX’s for where their trade will occur in order to get the best trading price.
This feature will be supporting the following AMM’s: SushiSwap, Uniswap v2 and v3, Pancakeswap, and Quickswap. Planned future supported DEXes are Curve and Kyber with their newly released aggregator. Initially, users will be routed to the default AMM, and later users will be able to manually select which AMM they prefer. The AMM chosen for execution will likely be driven by which AMM has the best price for that asset at that given moment.

Flash Loans 
Ooki protocol gives developers and pro users the ability to use flash loans. Flash loans are an uncollateralized loan option designed for developers. Flash loans enable users to borrow instantly and easily with zero collateral obligations, provided that the liquidity is returned to the pool within one transaction block. Use-cases include arbitrage, collateral swapping, self-liquidation, and much more.
When Ooki introduced this feature, flash loans did not charge any fees. With today’s protocol update, Ooki has now started charging a fee for flash loans. As a result of this, Ooki stakers will also be receiving the profits from these flash loans fees.
The new fee for flash loans is 0.03%. Developers utilizing bots must take this new fee structure into account when designing their flash loan strategies, so they can make sure their flash loan is profitable.
 New Trading Pairs

 Ooki is also excited to announce that following a DAO Governance vote, Ooki has released APE tokens for use in lending, borrowing as collateral, and also margin trading short or long. If you’re an APE token holder don’t let your tokens sit idly in your wallet, instead start using them to generate passive yield by lending them out and earning interest, or by using them as collateral for stablecoin borrowing. Then deposit those stablecoins for passive yield in a liquidity farming pool. 

About Ooki Protocol
Ooki is a protocol for margin trading, borrowing, lending and staking enabling the building of Decentralized Applications for lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol on multiple blockchains. Ooki is a fully decentralized, community-run DAO, governed by the community vote for all major changes to the protocol. Ooki users can engage in margin trading with up to 15x leverage using a fully decentralized trading platform.
Disclaimer: This is a paid post and should not be treated as news/advice.
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Jacob is a sponsored content writer at AMBcrypto whose interest lies in blockchain technology and its impact on the changing global economy.
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Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.


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