Introducing Oh! Finance
Oh! Finance has a simple goal: Do More with your DeFi Dollars
Oh! provides Industry-Leading APY interest rates on your stablecoins (like USDC), all on a simple, secure and easy-to-use DeFi platform.
Oh! is the feeling when it just clicks, and you realize why DeFi is here to stay.
Loaning cash to earn interest is not a new strategy, however, we feel that the current options in the banking and crypto markets fall short. Big-name bank savings accounts have an average Annual Percentage Yield (APY) of about 0.01% — 0.50% per year. No place for your money as inflation runs rampant.
DeFi lending platforms offer variable APYs in the 3–10% range … that’s much better, but we think there are significant improvements that could be made. Oh! aims to improve yield, user experience, safety, and high gas fees. Our target is to achieve consistent 10–21% APY* on stablecoins, with additional rewards earned in OH tokens.
Our Strategy
Oh! Takes advantage of some of the largest, safest, most reputable DeFi lending platforms — such as AAVE, Cream, Curve, Compound, Uniswap and SushiSwap. When you lend your USDC assets with Oh!, we algorithmically and automatically find the highest possible APY-earning pool to deposit your assets. We intelligently balance across the underlying lending platforms to spread funds out for collateral risk management, while concentrating on pools with high yields. If the underlying rates change, we will re-balance the portfolio of funds automatically, ensuring that your crypto is always earning and not missing an opportunity for gain. Additionally, we automatically reinvest interest earned — a feature we call Oh! IAC (Intelligent Auto-Compounding).
Save on Gas Fees
Oh! deposits, withdraws, and transfers compounding interest at optimized times based on current Ethereum gas prices, maintaining target performance without eating into your yield.
Gas fees suck, and they can seriously eat into the profitability of a smart contract interaction — precisely why we batch users’ deposits together to stake in Oh! strategy loan contracts, auto-compound the gains in batch, and reinvest algorithmically. By using signals to determine when gas fees are at relative highs or lows, we can rebalance and compound funds to maximize yield. When gas fees were measured in single-digit dollars, this wasn’t a big deal, but with the DeFi explosion in the last year, gas fees could exceed $200+ dollars for a single transaction. We do all this rebalancing ‘AutOHmagically ‘ — let us deal with the day-to-day fluctuations so you don’t have to.
Security
In today’s DeFi world, Security is a must. At Oh!, we believe that a smart lender wants high yields, but also wants a platform that is as safe and as stable as possible. To do this, we’re starting out by focusing on six key security strategies:
- Audits — Our smart contracts will be audited by reputable independent firms, and our most important contracts will be audited by at least two unrelated defi security auditors
- No KYC — No sign-ups or account verifications are required to use Oh!. That means we have no plans to collect or store your PII, keeping your identity information safe from theft on the Oh! platform. No one wants another letter in the mail that your identity has been compromised.
- Secure Oracles — Oh! will leverage trusted decentralized oracles for price information, minimizing potential impact of internal risk.
- Open Source — Oh! will publish smart contract code that holds user funds and on reputable platforms such as Github and Etherscan. We encourage all users to do your own research to the best of your ability.
- Leverage Secure & Trusted Platforms — Oh!’s strategies will only rely on popular, tried & true, reputable underlying lending platforms such as AAVE, Compound, Curve, and Cream.
- Insurance Option for users — We are working with industry leading DeFi insurance solutions so that lenders can gain additional security on their deposits if they’d like to further mitigate risk, while still exceeding competitor APYs.
Keep It Simple, Stupid
For the average user, crypto and DeFi could benefit from more the common saying “KISS”, so we made simplicity our #1 design principle. The DeFi ecosystem is still relatively new, and generally still a very technically complex space. As a result, crypto projects often get bogged down with complexity, long and involved instructions, confusing decisions, and multiple transactions to cut into your gains. With Oh!, we make the process so easy that your “never-used-crypto-before” neighbor can start earning, while still providing under-the-hood complexity that attracts even the most seasoned DeFi veterans. Simple deposits, simple dashboards, and simple withdraws. Oh! keeps it simple.
Stay Tuned
We’ve been laying the groundwork for this project for a while and can’t wait to bring this service live! We plan to launch to the general public in the coming weeks — May/June 2021.
Oh! strives to provide sustainable yields. Our mission is to help you earn high APYs lending your stablecoins, keep your funds safe, and let you start earning passive income on your USDC in as few clicks as possible!
Want more information? Download our pitch deck, here.
Follow us on our social channels and please stay tuned for future announcements and details on our launch, coming soon.
*Exact APY depends on selected strategy offerings and may fluctuate based on underlying DeFi market conditions and platform TVL
About Oh! Finance
Oh! Finance has a simple goal: Do More with your DeFi Dollars. Oh! provides Industry-Leading APY interest rates on your stablecoins (like USDC), all on a simple, secure and easy-to-use DeFi platform.
