What Is OtherDAO(OTHR)?
The OtherDAO is a decentralized, community-owned protocol governed by the dual-backed $OTHR token. The protocol is designed around a price-agnostic revenue model based on a complex and revolutionary in-house yield maximization strategy for Otherdeeds by Otherside. The price-agnostic revenue model means that they DO NOT rely on price action or inherit any form of $OTHR inflation to fund protocol participation incentives.
DAOs are nothing new in DeFi, typically incentivizing protocol participation through native-currency inflation, rewarding participants by positively rebasing the supply of the protocol. This works but comes at the dilution of other protocol participants who cannot keep up with the inflationary aspect.
OtherDAO Storage Key Points
|Circulating Supply||1,000,000.00 OTHR|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
To The OtherDAO
OtherDAO is a NFT-based liquidity provisioning protocol with a price-agnostic revenue model based on a complex yield farming strategy for Otherdeeds by Otherside. The price-agnostic revenue model means that we do not rely on price action or inherit any form of $OTHR inflation to fund protocol participation incentives.
Instead, staking rewards come from the collective yield from our DAO-owned Otherdeed portfolio. They have developed a state-of-the-art yield optimization algorithm to ensure that the holders receive maximum returns.
Betting The Bear
The OtherDAO protocol has a unique bear-market solution giving investors a risk-off method to accumulate $USDC. To do this, the DAO uses any treasury funds generated to purchase Otherdeed by Otherside NFTs and farm them for staking rewards.
Even during price drops, the same staking rewards are distributed to the remaining holders with increased APR payouts. We pay more when the price drops.
OtherDAO pays extremely attractive staking rewards in $USDC.
OtherDAO bonds are the primary mechanism for Treasury inflows, and thus, the growth of the protocol. Bonders commit a capital sum upfront and are promised a fixed return in $OTHR when the bond matures. Users get to purchase bonded $OTHR at a discount to market price.
How to earn
You can leverage the OtherDAO protocol to earn $USDC yield by:
- Staking $OTHR as part of our revenue-sharing mechanism, leveraging OtherDAO’s Otherdeed holdings.
- Providing liquidity, either manually or at a discount through LP bonding.
How it works
Staking your $OTHR is a simple task and enables users to access a portion of the $USDC yield generated by the protocol (i.e., revenue-sharing), dependent on the amount of $OTHR staked. Unlike many other protocols, $OTHR staking requires no locks. Simply deposit your $OTHR for as long as you want to receive passive $USDC rewards.
How to stake
First, make sure you have purchased your desired amount of $OTHR through UniSwap. Please note that there is no minimum, or maximum amount of $OTHR users must stake. Users receive $USDC rewards based on the percentage of $OTHR they have deposited in the staking pool relative to the total amount of $OTHR in the staking pool. When you are ready to stake, simply head to our OtherDAO dApp to deposit into the $OTHR revenue-sharing staking pool.
The native token behind the OtherDAO is $OTHR. $OTHR boasts an initial supply of 1,000,000 and inherits no form of inflation in order to encourage protocol participation, meaning supply can only increase through an increase in treasury assets (i.e., through bonding).
Initially, they sent 65% (650,000) of $OTHR to the Copper Liquidity Bootstrapping Pool (LBP), which is an effective platform to raise initial liquidity for the OtherDAO, as well as reserve funds. An LBP also acts as the fairest token distribution method among early investors, disabling early investors from purchasing large amounts of the overarching protocol.