A Closer Look at the DAI & USDT Stablecoins

TL;DR

  • USDT: Pegged 1:1 to USD. Centralized. Collateralized by a mix of non-crypto assets.
  • DAI: Pegged 1:1 to USD. Decentralized. Collateralized to other cryptocurrencies.
  • USDC: Pegged 1:1 to USD. Centralized. Collateralized by a mix of non crypto assets.

Stablecoin Vaults Currently Available on OH! Finance

What are USDT & DAI?

How to Stake USDC.e, USDT.e and DAI.e in OH! Finance (Avalanche)

  • Connect your MetaMask wallet to the Avalanche network.
  • Send a token identified in the Bridge’s drop-down list (USDC, DAI, and USDT are bridgeable, among others) from the Ethereum network to Avalanche using the official Avalanche bridge. If you’re not used to bridging try checking out this guide or the official Avalanche tutorials.
  • If needed, swap assets to USDC.e, USDT.e, or DAI.e on the DEX of your choice on Avalanche.
  1. Make sure you have AVAX in your wallet. You’ll need to burn a small amount of it to execute transactions.
  2. Go to OH! Finance and connect your MetaMask wallet.
  3. Click on the “Earn” tab on the left.
  4. Scroll to find the USDC.e, USDT.e, and DAI.e vaults.
  5. Click “Deposit” (or “+” if you already have tokens in the vault).
  6. Select how much USDC.e, USDT.e, or DAI.e you want to deposit or hit “MAX” to deposit it all.
  7. Select “Deposit.”
  8. Review the info in the pop-up and if all looks OK, select “Deposit.”
  9. MetaMask gives you a transaction confirmation pop-up. Review the details and if you’re good with it, select “Confirm.”
  • OH-USDC.e 0x8B1Be96dc17875ee01cC1984e389507Bb227CaAB
  • OH-USDT.e 0xd96abecf6aa022735cfa9cb512d63645b0834720
  • OH-DAI.e 0xf74303dd14e511ccd90219594e8069d36da01dcd

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