ICONSPHERE

OMM: Open Money Market

OMM is an open-source money market protocol for an efficient money market on the ICON blockchain. OMM, a decentralized peer-to-contract money market protocol owned and operated by OMM token holders provides direct integration of fiat onboarding and offboarding making it easier and less costly for non-Crypto users to access Decentralized Financial Services. By using Bridge wallet, users will be banking on Blockchain without even knowing they are using it

The combination of OMM Finance and the Bridge Widget allows users to withdraw or deposit stablecoins directly to and from a bank account which lowers the friction between traditional banking and decentralized finance, making DeFi easier, accessible and affordable to new users.

OMM allows ICX holders to deposit ICX as collateral, earn a variable interest rate, and borrow fiat-backed Bridge dollars.

  • Connect ICONex Wallet or Bridge account to deposit assets.
  • Earn interest while supplying assets and pay interest when you borrow assets from OMM. Interest rate is  based on supply and demand.
  •  Earn OMM tokens while lending or burrowing assets, which gives governance rights of the platform.
  • Borrow Stably (USDS) and send them to a bank account to use them to pay for daily expenses.
  • Borrow against ICX to purchase other crypto assets while still earning ICX staking rewards.

Community Airdrop: Click Here 

OMM FAQ: Click Here

Article: OMM Simplified and Unwrapped

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