Overnight Finance (OVN), a yield aggregator that has recently caught our attention. This platform not only offers lucrative APR and APY rewards but also has its own airdrop incentive. We will explore how you can position yourself to benefit from this opportunity.
What is Overnight Finance?
Overnight Finance (OVN) is essentially a yield aggregator, similar to well-known platforms like Beefy Finance. It is an asset management protocol offering passive yield products based on delta-neutral strategies for conservative stablecoin investors. They recently introduced an incentive program where USD+ holders on Arbitrum can earn points for a potential OVN token airdrop.
What distinguishes Overnight Finance is its unique airdrop incentive and robust yield farming protocols. By depositing liquidity into their platform, you can earn rewards in the form of USD+, their collateralized stablecoin.
Understanding USD+
USD+is fully collateralized by USDC, which means so long as the collateral value exceeds 100%, holders of USD+ will earn rewards through a rebase mechanism. For example, if you hold 1,000 USD+ on Arbitrum, you can earn an approximate APY of 2.72% on a daily basis, provided the collateral value remains higher than the USD+ in circulation.
- 100% collateralized with assets immediately convertible into USDC.
- 1:1 peg to USDC for USD+ for price stability.
- Profit (positive rebase) once collateral value grows above 100%, loss (negative rebase) in case collateral value below 100%.
- Generate passive yield effortlessly by simply holding your Token+ in your wallet.
- Profit payouts occur through daily rebasing, providing transparent balance tracking and profit/loss visibility.
- Using proprietary delta-neutral and other low risk strategies to generate yield. Offer yield options tailored for varying risk appetites, 5-12% APY on Token+ and up to 25%+ APY on the insurance products.
- High quality protocols enabling Overnight generates real yield (sustainable yield without rewards) like Aave and Uni V3, prioritized.
- Insurance serves to protect our rebase tokens (USD+, DAI+, USDT+, not the ETSes) by absorbing the first loss in case of negative rebase with the project’s native OVN token.
- With insurance, the protocol can invest into riskier yet more profitable strategies, ultimately increasing long-term profit for users.
Overnight Finance Airdrop Step-by-step:
Participation in the Overnight Finance airdrop is straightforward.
1. Mint USD+
Mint USD+ on OVN Arbitrum to qualify.
2. Exploring Liquidity Pools
Overnight Finance offers multiple pools on various chains, with its largest market being on Base. The rewards for liquidity providers (LPs) depend on the specific pool. For instance, LPs on Aerodrome will earn Aerodrome tokens, while those on Linea will receive Linea tokens. The user interface supports both V2 and V3 pools, with V3 positions visible directly on the Overnight Finance dashboard, whereas V2 positions require you to visit the respective DeFi platforms.
3. Maximizing Earnings
-Sign up to join and claim rewards
Connect your wallet to accept your invitation at Overnight Finance. Earn points daily by holding your USD+ on Arbitrum and inviting friends to do the same. To effectively join, you must sign a message (no fee, no key access) with your wallet to verify that you are eligible.
-Enroll in the Referral Program
For each Hold USD+ conversion, the user that referred you will also get up to 1 POINT per USDC.
– Claim your rewards here
Check out the latest airdrop at:
Airdrop Spreadsheet: https://boxmining.org/spreadsheet