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OMS – The Most Anticipated Staking Launch of DeFi 2021 Is Now Here, Earn up to 1622% APY

OMS - The Most Anticipated Staking Launch of DeFi 2021 Is Now Here, Earn up to 1622% APY

What is Open Monetary System (OMS)?

Decentralised Finance (DeFi) has rapidly emerged as a means to allow anyone global access to markets that would not be typically available in traditional finance systems. Built on immutable blockchain technology, DeFi has enabled a global audience to access a range of financial instruments including lending, borrowing, and decentralised trading that have previously been restricted by jurisdiction or locality.

OMS seeks to add to the DeFi ecosystem by introducing an Ethereum based suite of products that allow for the virtualisation of real-world assets into crypto derivatives. Trading of these derivatives in a completely decentralised contract form allows for users to speculate on the rise or fall in the value of global assets from a range of financial markets including commodities, forex, and cryptocurrencies.

The first part of the OMS ecosystem – the OMS token was released on 6th June and listed on the Uniswap exchange. The token has been fully audited by Certik and is an elastic supply token designed to rebase (inflate/deflate) supply through automated distribution proportional to percentage of supply held.

OMS provides the base token for the ecosystem and will provide utility through the supply of liquidity in the OMS Asset Index.

The other parts of the ecosystem consist of the following product offerings:

OMSX – An Ethereum based token designed to reward holders through multiple forms of yield. Including a percentage of all transactions in the token.

OMSX token holders will receive up to 80% of all fees generated through the OMS Asset Index.

OMS Asset Index (AI) – The OMS Asset Index enables the decentralised trading of derivatives. Designed to be indexed to existing markets/indices, OMS AI allows for price speculation, risk management, and other trading strategies against a range of assets.

OMS AI generates fees through the use of innovative spread management techniques, with fees returned to OMSX token Liquidity Providers.

OMS Reserve – The core of the OMS yield generation function is the Reserve. The Reserve is a yield aggregator that uses multiple strategies to maximize the interest rate returned on locked assets.

The total value locked (TVL) into the Reserve can be used to invest in services such as Compound, Aave, etc. The Reserve will provide liquidity to the OMS Asset Index and return rewards to OMSX Liquidity Providers.

The Project’s Future Plans

OMS has already reached several milestones, including a listing on the Uniswap exchange, a listing on CoinGecko, a brand-new dashboard which enables users to check data on rebasing and the oracle price as well as other useful information.  A new staking program called the Cascade which has one of the highest yield returns, up to 1622% APY in the DeFi ecosystem.

But there is so much more to achieve.

By the end of August, the project aims to double the number of holders and to reach a market cap of $25 million.

The OMS development team are also working towards a synergy with Chainlink on the integration of their ‘Keepers’ protocol to bring real-life price tracking for the OMS Asset Index and the derivative trading platform.

Last but not least, the team behind OMS also plans to list the tokens on multiple exchanges, further enhancing its user base and increasing its token holder reach.

To read more about Open Monetary System (OMS) and stay up to date with the project’s development, follow them on their official communication channels.

Website: https://oms.finance
Telegram: https://t.me/omsfinance
Twitter: https://twitter.com/financeoms
Medium: https://medium.com/oms-finance
Facebook: https://www.facebook.com/oms.finance.team

Disclaimer: Any information written in this press release does not constitute investment advice. CoinQuora does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release. CoinQuora is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.