Ooki Protocol Price Chart Update [OOKI]

The OOKI price update as of now is $0.002154. In the previous 24 hours, its trading volume was $3,086,536, and its value has decreased by -3.90%. As of now, OOKI's live market cap is $17,684,679, and it is ranked as the #638 on the Coincu. OOKI has a circulating supply of 8,536,435,763 and a maximum supply of 8,536,435,763.

Introduction to the Ooki Protocol

The Ooki Protocol, also referred to as OOKI, is a cryptographic protocol designed for lending and margin trading. It acts as a financial platform that facilitates short selling, leverage, borrowing, and lending, with the goal of enhancing decentralization and efficiency within the blockchain.

Developers can leverage the Ooki Protocol to create applications that enable lenders, borrowers, and traders to interact with a highly flexible decentralized finance protocol on the Ethereum network. The protocol follows a community governance model, with major decisions being made through community voting.

Distinguishing Features of the Ooki Protocol

No KYC Requirements for Users

Ooki is a decentralized margin trading platform that eliminates the need for users to go through verification processes like Know Your Customer (KYC) or Anti-Money Laundering (AML) procedures.

Users Retain Control of Their Assets

Regardless of whether they are engaging in lending or trading activities, users have complete control over their keys and assets through Ooki's unattended solution.

Minimal Penalties for Liquidation

Decentralized positions are only liquidated to an extent necessary for maintaining a margin between 15% and 25%. This approach helps minimize the impact of liquidation on users.

Effortless Trading Experience

Ooki offers a seamless trading experience with features such as auto-renewing positions and no conversion fees.

Functionalities Available in the Ooki Protocol

Trade Transactions

For beginners, the Ooki Protocol simplifies decentralized margin trading. Users can open long or short margin positions with leverage of up to 15x. Trading positions are managed through the Ooki Trading Interface, providing users with full custody of their funds unlike centralized exchanges.

Borrowing Funds

Users can borrow funds based on the collateral they provide. To initiate borrowing on the Ooki Protocol, users need to visit the borrow page, select the desired asset to borrow, click the borrow button, submit collateral, and specify the desired borrowing amount.

Lending Funds

The Ooki Protocol operates as a fully decentralized, zero-custodial lending protocol, allowing lenders to easily lend their crypto assets and generate profits.

Token Staking

Owners of OOKI tokens have the opportunity to stake their tokens and earn a portion of the Ooki Protocol fees. Currently, this staking feature is only available on the Ethereum network. However, fees generated across all Ooki Protocol implementations will be distributed to OOKI token holders on the Ethereum network.