In a very basic explanation,OIN FINANCE is doing what MakerDAO is doing with Ethereum and stablecoins but in this case,one can turn any token into a stablecoin
There are two products on OIN Finance
1. OIN DAO : it’s a platform for issuing staking derivatives and stablecoins.
2. OIN Swaps : A dex to trade those stablecoins and other assets
OINDAO on NEAR
The recent partnership with NEAR will bring the following
1. NEAR as collateral : Users will be able to lock NEAR and issue a stablecoin backed with NEAR.
2. Other altcoins in the NEAR ecosystem can be used as a collateral as well to issue stablecoins
3. Scarcity : The more $NEAR are locked away,the less $NEAR in circulation and that is good for the price
4. Hedge against volatility : Token holders will now be able to hedge against volatility
5. Basket Yield farming : Earn up to 20 different tokens in yield farming for staking $NEAR tokens
OINDAO use cases
Swapping : Tokens may be swapped for different purposes
Adding leverage : Get more from your tokens
Hedging : Hedge against volatility
Lending : Earn interests on your assets