Enable OVN/USDT (1% fee tier) V3 gauge on BSC

Gauges
1

Overview

The protocol requests a gauge whitelist for pool, the OVN/USDT 1% tier on BSC, which will help kickstart this integration of PancakeSwap liquidity in the overall liquidity of the project.

Background

Overnight is a cutting-edge decentralized finance (DeFi) platform that offers users innovative solutions to maximize their earning potential. By combining the stability of traditional financial instruments with the advantages of blockchain technology, Overnight revolutionizes the way individuals interact with the financial ecosystem.

At the core of Overnight is the concept of stablecoin-based DeFi. The platform introduces stablecoins like USD+, DAI+,ETH+, and USDT+ that are designed to maintain a stable value relative to their underlying assets. These stablecoins serve as foundational building blocks for users to access various opportunities within the DeFi landscape.

http://overnight.fi/ is a protocol focusing on asset management, with a specialization in neutral-risk strategies. At the heart of its product line is USD+, which is a yield-driven stablecoin, fully backed by collateral. This collateral for USD+ is rooted in DeFi strategies that generate returns. These strategies encompass lending to platforms like Aave, and include both stablecoin-to-stablecoin and neutral-risk strategies.

Overnight would like to start its PancakeSwap integration by asking for a gauge whitelist for the OVN/USDT pool (1%) on BSC.

Should the gauge be added, veCAKE holders will benefit from it, and the protocol will use veCAKE vote incentives to deepen the pool’s liquidity.

Details

  1. Boost Multiplier and Emission Cap %: 1.00x boost multiplier and 5% emission cap
  2. Token Utility: OVN is the governance token of protcol
  3. Volatility: N/A
  4. Oracles: Plus tokens doesn’t use oracles,but we are using oracles in strategies that we are investing in. We are using Chainlink on Arbitrum and Pyth on ZkSync. We are using oracles for calculating P&L and also to assess the cost of collateral
  5. Control: Only members of the OvnAgent group can execute proposals.
    On BSC chain:
    AgentTimelock - 0x7f947D141FED32595916E150740a5e60d479E95F
    OvnAgent - 0xdFdB46Af574Fa0EE183841f78554F7F07940065B.
    Owners of OvnAgent:
  • 0x66B439c0a695cc3Ed3d9f50aA4E6D2D917659FfD
  • 0x3f914C1D6afEeD65570A54177EFcC0bd0a65b81f
  • 0xC33d762fC981c0c1012Ed1668f1A993fC62f9C66
  • 0xe497285e466227F4E8648209E34B465dAA1F90a0
  • 0x0bE3f37201699F00C21dCba18861ed4F60288E1D
  1. Merit: Should the gauge be added, veCAKE holders will benefit from it, and the protocol will use veCAKE vote incentives to deepen the pool’s liquidity.

Links

  1. Token addresses:OVN 0x259b30c916e440fb79747cd559207ffdabbae057
  2. Liquidity pool address: 0xb624FE83Dfc393aAB921EbBc2Bf38Fdd238F2380
  3. Website: https://overnight.fi/
  4. Socials:
  1. Documentation: https://docs.overnight.fi/
  2. Github: overnight.fi · GitHub
  3. Any other relevant links:
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Thank you for your application! The Kitchen has enabled the OVN-USDT (1% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 5% emissions cap.

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