Introducing Oxygen_Light: Borrow assets and generate passive income in 1–2–3
Meet Oxygen_Light — a simpler, faster and cheaper way to borrow digital assets to trade with leverage or get liquidity, and generate passive income on Solana.
It is a non-custodial algorithmic liquidity protocol, where borrow rate and yield are deterministic. They change real time depending only on the utilisation rate of a deposited asset type and pre-specified parameters of the protocol.
Key benefits of the approach are its simplicity and relative familiarity of the algorithmic rate-setting as well as the fact that all depositors get some yield. This is in contrast to the orderbook-based borrowing-lending where interest rates and asset utilisation depend on the market-clearing levels.
We start with 6 most popular assets that you can generate yield on and use as collateral at the same time: USDC, USDT, SOL, BTC, ETH, SRM. We will expand to other assets over time.
We are finalising the design of our liquidity programme to drive adoption of Oxygen_Light and will release details in due course. Ecosystem will reward longer-term borrowers-lenders through Oxygen_Light as well as give preferential rates to OXY holders. We thank our key partners for their commitment to providing liquidity and risk management support.
To date, we have worked closely with 2 security partners including Kudelski to ensure the protocol is safe and reliable. We will go through a formal security audit for Oxygen_Light in the next 2 months. We also offer bug bounty up to $1,000,000 to cover Oxygen smart contracts, with a focus on protecting users against theft and freezing of funds.
The mission of Oxygen is to create finance without Wall Street. We started by developing DeFi prime brokerage, a highly sophisticated product, aimed at institutional traders and power users. Oxygen_Light is designed to be accessible to all users, with minimal Crypto knowledge.
Stay tuned for further updates, and in the meantime, happy trading! Try out Oxygen_Light now on light.oxygen.org and let us know what you think on Telegram.
