oUSD is OPNX's new credit and trading currency. It allows you to use any coin as collateral, earn yield in many different ways, and all gains or losses incurred from trading futures on the exchange will be denominated in oUSD.

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1 USDT ≈ 1 oUSD
You will convert
You will receive

Why choose oUSD?

oUSD Vault

The Vault is one of the multiple sources of yield oUSD holders can benefit from. Stake in the Vault to earn passive income generated from liquidations on the OPNX exchange, as well as the interest paid by negative PnL oUSD holders.
oUSD Vault
oUSD Trading


oUSD offers superior transparency by revealing liquidation prices and aiming for verified collateral solvency in the oUSD supply.
oUSD Transparency



oUSD's over-collateralized backing provides security to traders. It allows versatile collateral use with instant liquidations to ensure over-collateralization in perpetuity


All collateral, liquidation data, and more information will be transparent and viewable on-chain.

Stake and earn yield

Stake oUSD in the Vault to earn varying passive yield.
Frequently Asked Questions
What is the OUSD ?
oUSD is OPNX's on-platform credit currency to denominate PnL, enable margin trading, and use many sources of collateral. Traders can also stake oUSD to earn varying sources of yield.
How is interest calculated?
oUSD interest has two components: a base rate and a rate curve above that. The base rate is presently set to 8% and the interest rate can go up to 100% APR. Rather than a utilization curve, the rate is set based on the oUSD price in spot markets. This means that if oUSD is trading at a discount to USDT, the rate will be above 8%.
What is the Vault? How does it work?
oUSD stakers earn from two sources: 1) The interest paid by portfolio margin users of oUSD; 2) Traders’ liquidations – oUSD stakers earn from the price difference between the bankruptcy price and the price at which collateral and positions are sold on the market.
Where can I view my staking history?
View yourstaking history.