OpenDAO has evolved in lockstep with the markets, launching on Ethereum, bridging across to Binance Smart Chain in conjunction with OCP and PancakeSwap, and now heading for the ever-fertile Polygon ecosystem.
The clear benefit of integration! This adds significant value to the DAO and advances our goal of serving as a link between the real world and crypto.
Reduced Costs and Friction: Switching to Polygon will drastically cut the costs of processing transactions, approving them, exchanging them, and so on. This makes it easy to take use of the many amazing capabilities that OpenDAO offers, as well as those that are coming soon.
The DAO incubates and funds teams that use the OPEN toolbox to create solutions that help us achieve our purpose.
To this purpose, OpenDAO established $USDO, a decentralized stable coin backed by a verifiable collateral pool comprising both on-chain and off-chain assets.
As the developer of $USDO, OpenDAO’s role is to enhance the currency’s demand and liquidity through partnerships, grants, and on/off-ramping solutions.
About Polygon Network
Polygon, formerly known as Matic Network, is a platform for developing decentralized apps based on the Ethereum blockchain.
Polygon, in basic terms, overcomes the scalability concerns that plague other cryptocurrencies based on the Ethereum blockchain while maintaining the decentralized feature.
This drastically reduces the expensive transaction fees associated with blockchain congestion.